Habitat, in collaboration with P3 Markets, has achieved significant milestones on the $100 million, mixed-income, mixed-use project in Bronzeville known as 43 Green. Not only has the Phase 1 apartment building at 4308 S. Calumet Ave. reached full lease-up, but the Phase 2 building at 4309 S. Prairie Ave. has also topped off this month.
The Phase 1 building, a 10-story, 99-unit property, offers 50 affordable apartments for households earning up to 60% of the Area Median Income (AMI), while the remaining units are leased at market rate. The first residents moved in last June and are enjoying the mix of studio, one- and two-bedroom floor plans, as well as the various amenities such as a fitness center, business center, picnic area, community room with kitchen, and two rooftop terraces. The building also includes 5,500 square feet of retail space and off-street parking.
Habitat, co-developer of 43 Green in Bronzeville along with P3 Markets, has reached 100% lease-up of the 99-unit Phase 1 residential building located at 4308 S. Calumet Ave. Photo courtesy Habitat, P3 Markets
Meanwhile, the Phase 2 building, also 10 stories, is comprised of 80 units, with 44 units designated as affordable. It is scheduled for completion by late summer 2024, with move-ins expected to begin shortly after. Like its counterpart, Phase 2 offers similar amenities, including a fitness center, laundry facilities, and flex work-from-home spaces. Additionally, the building provides 3,700 square feet of retail space, surface parking for 13 vehicles, and 56 bicycle parking spots.
43 Green is not just a regular development project; it stands as the first equitable transit-oriented development (ETOD) on Chicago's South Side. Spearheaded by Habitat, a leading multifamily developer and property manager, in partnership with P3 Markets, a Bronzeville-based real estate development firm dedicated to public-private partnerships, 43 Green sets an important precedent for future ETOD projects in the city.
Bracketing the 43rd Street Green Line L station in Bronzeville, 43 Green reached two major milestones with the top off of the Phase 2 residential building (left) and the Phase 1 property (right) reaching full lease-up. Photo courtesy Habitat, P3 Markets
Historically, the majority of transit-oriented development incentives in Chicago have favored the North Side, Northwest Side, downtown, and the West Loop, with little to no developments occurring on the South and West sides. In response, the Chicago City Council passed the Connected Communities Ordinance in 2022 to promote more equitable and connected neighborhoods around the city's public transit options. This ordinance expanded TOD incentives to a wider area, including a four-block radius from rail stations and a two-block radius from high-frequency bus corridors.
The construction of 43 Green is a joint venture between Bowa Construction and McHugh Construction, with Landon Bone Baker serving as the architect for the development. The success of this project has paved the way for future ETOD initiatives in other cities with robust mass transit systems.
Habitat is already in the final planning stages to transform Marine Drive, a 616-unit affordable housing ETOD in Buffalo, N.Y., situated along the city's waterfront district and light-rail line.
On the Building Team:
- General Contractor: Bowa Construction and McHugh Construction
- Developers: The Habitat Company and P3 Markets
- Architect: Landon Bone Baker
- Landscape Architect: McKay Landscape Architects
- Civil Engineer: Engage Civil
- MEP Engineer: dbHMS and Element Energy Consulting
- Sustainability Consultant: dbHMS
