The site of the former Michael Reese Hospital in Bronzeville may be turned into a massive, mixed-use, 3.5 billion development that could dramatically change the area’s landscape near the lakefront.
During a virtual community meeting last week on Zoom with residents and Alderman Sophia King (4th Ward), Farpoint Development presented a plan that they say will create jobs while honoring Bronzeville’s rich heritage.
Farpoint developers say they plan to submit their zoning proposal to the City Council this month, but questions remain whether developers will receive tax increment funding (TIF) for the project.
The proposal also calls for a new Metra train station on 31st Street near Lake Shore Drive.
Developers have reportedly agreed that 65 percent of all businesses on the site must be minority-owned to help create opportunities for jobs and investment in Bronzeville.
