Connect Media > Chicago News > South Side > Auburn Gresham Health Hub Lands TIF Assistance

January 11, 2021 Comments (0) Views: 367 Chicago News, South Side

Auburn Gresham Health Hub Lands TIF Assistance

Order Reprints...

A vacant, four-story building in the South Side’s Auburn Gresham neighborhood will be redeveloped as a healthy living hub through Tax Increment Financing (TIF) assistance approved recently by the Chicago City Council. The $15.9-million project at 839-45 W. 79th St. will include medical offices for anchor tenant UI Health.

TIF assistance up to $2.1 million will support the 51,000-square-foot project by the Greater Auburn-Gresham Development Corp., which will move its headquarters into the building. Other funding sources will include $4 million from the Community Development Block Grant program, a $3-million Chicago Prize grant from the Pritzker Traubert Foundation, $2.8 million in New Markets Tax Credit equity, and a private loan.

The building is located in one of the 10 priority communities selected as part of the City’s INVEST South/West initiative, intended to spur new development along commercial corridors on Chicago’s South and West Sides.

Rendering courtesy of GADC.

Connect With Chicago Planning and Development

Connect With GADC

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: , ,

Comments are closed.