South Chicago Redevelopment Projects Gets Major Commitment From Fifth Third Bank
By Maxwell Evans | Posted on Block Club Chicago a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicago’s diverse neighborhoods.
Bank officials pledged up to $20 million in funds and services for affordable housing, shops and community programs in South Chicago, but a specific breakdown of the commitment is still a couple of months out.
SOUTH CHICAGO — A series of developments aimed at revitalizing the South Chicago neighborhood gained millions of dollars in support from an international bank, business leaders and city officials announced Tuesday.
The We’re Steel Here redevelopment plan, spearheaded by Claretian Associates and a host of neighborhood organizations, received a commitment of up to $20 million in funds and services from Fifth Third Bank.
Among other developments, the plan centered on 91st and 92nd streets includes:
- S.A.C.R.E.D., a five-story building with 82 affordable apartments and a grocery store at 3211-3229 E. 92nd St. that’s set to begin construction in late 2022.
- The renovation of a vacant building at 3134 E. 92nd St. into a cafe and workforce development center.
- A performing arts center operated by Pilgrim Baptist Church of South Chicago, 3235 E. 91st St.
- A “River Gateway” park at 92nd Street and Buffalo Avenue, equipped with an all-ages play space, a picnic area, an outdoor stage and bike storage.
- Streetscape improvements, including new sidewalks, accessible ramps, lighting and decorative crosswalks along 92nd Street and Commercial Avenue, with the installation of a “community identifier” where the streets intersect.
With Fifth Third’s commitment, the $66 million plan is now just “a few million” dollars short of full funding, Angela Hurlock, Claretian Associates executive director, said at a news conference Tuesday.
The bank “believing in this project and wanting to move it forward is stupendous,” Hurlock said.
We’re Steel Here also includes the mostly completed Salud Center, a senior housing development and community center at the former South Chicago YMCA. All that remains is the renovation of the center’s pool, which Fifth Third’s commitment will support, Hurlock said.
The project also includes renovations to two multi-family homes at 9128 S. Burley Ave. and 9230 S. Brandon Ave. Claretian has considered entering the properties into a land trust to keep housing prices affordable, but it hasn’t committed to that idea yet, Hurlock said.
“Our intention is that families that are here are able to benefit from this — as well as families that are coming, but definitely the families that have been here for generations,” she said.
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