Construction on United Yards IB in Chicago has begun. The $58 million mixed-use project which is being built by Celadon Blackwood Limited Partnership, will revive the core of the Back of the Yards neighborhood.
The project will contain numerous new and renovated commercial and residential structures close to the intersection of 47th and Ashland and is part of the Mayor's INVEST South/West initiative.
As part of United Yards' $17.9 million first phase, the project will include the following:
- The conversion of a former Goldblatt's showroom at 4700 S. Ashland Ave. into a 15,000 square foot, federally certified health center
- 7,200 square feet of retail space that will include La Selva Clothing Company, Back of the Yards Coffee, Back of the Yards Barbershop, and Aracely's Bakery
- 6,500 square foot structure that will be home to Somos Monos Cerveceria
This phase of United Yards IB in Chicago will provide 40 permanent full-time jobs owing to $5 million in Tax Increment Financing by the Department of Planning and Development.
Chicago.org states that the project's $40 million second phase will include:
- 51 Unit affordable apartment building
- 7,000 square foot technology training center for minority entrepreneurs
- Pair of affordable three-flats that will be affordable for tenants earning up to 60% of the area median income
United Yards' third phase will include the mixed-use rehabilitation of the three-story "Rainbow" commercial building at 4701 S. Ashland Ave.
"This groundbreaking marks yet another milestone in our INVEST South/West journey to revitalize our underserved neighborhoods. The economic activity, job opportunities, health care, and housing options that United Yards is bringing to New City will catalyze future investment in the surrounding community for years to come. I've been proud to work with my team and deliver these kinds of transformative projects across the South and West sides over the last four years."
Mayor of Chicago | Mayor Lori E. Lightfoot
The Weekly Citizen reports that DPD Commissioner Maurice Cox stated that in addition to serving the area's health care needs, this investment will provide opportunities for neighborhood residents to shop, convene and enjoy their neighborhood.
Initial work on both of United Yards' first two phases is underway and expected to be completed by the end of 2024.
DataBid is currently reporting on this project - United Yards Development 1515 W. 47th Street New City - Chicago (0024082521)
DataBid is currently reporting on this project - United Yards Development 4701 S. Ashland Avenue New City - Chicago (0025082521)
DataBid is currently reporting on this project - United Yards Development 4707 S. Marshfield Avenue New City - Chicago (0027082521)
DataBid is currently reporting on this project - United Yards Development 1641 W. 47th Street New City - Chicago (0026082521)