Chicago Housing Authority's plans to redevelop the former Cabrini-Green housing project site inched a step closer to reality yesterday, after the group selected Hunt Development Group to build nearly 500 housing units on a 6.9-acre site. Hunt is the master developer for the project and is JV'ing with Imagine Group and Chicago Neighborhood Initiatives, according to Crain's Chicago Business. Chicago Neighborhood Initiatives is best known for spearheading redevelopment opportunities in Pullman and other South Side neighborhoods.
The Hunt-led JV's plans for the site include a 21-story apartment tower, a series of connected mid-rise buildings and low-rise townhomes, and 39k SF of retail. The housing will be a mix of one- to four-bedroom apartments and condos. CHA said 183 units will be set aside for CHA residents, while another 82 units will be affordable housing.
The Cabrini-Green site, once an example of the failures of American public housing, is now one of the most coveted redevelopment opportunities for developers. CHA wants to build 2,340 apartments on its 65 acres, with one-third earmarked for public housing. Development has been brisk to the north and east of Cabrini-Green, most notably at the Halsted Triangle.
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