GRIT, a team of Chicago developers including CNI are moving forward with the Bronzeville Lakefront project – a $3.8 billion, multi-phased redevelopment of the former Michael Reese Hospital site. GRIT’s plan calls for creating 8.2 million square feet of commercial, institutional, and mixed-income housing and 4,000 permanent and temporary jobs.
GRIT, which is comprised of Farpoint Development, Loop Capital Management, McLaurin Development Partners, Draper & Kramer, Bronzeville Community Development Partnership and CNI is expected to break ground in 2021 on the first phase of the Bronzeville Lakefront project, a new mixed-use community at the former hospital’s 48.6-acre site on the city’s South Side.
GRIT’s multiphase plan for redeveloping the site includes mixed-income housing, a new Metra station, parkland, senior housing, and a medical research and innovation hub that’s anchored by the Israel-based Sheba Medical Center. The first phase will bring 1.35 million square feet of retail and office space, 300 units of senior housing, a new data center, and a Bronzeville Welcoming Center to the south end of the development, revitalizing 13 acres. This phase will also include the restoration of the historic Singer Pavilion, the only remaining building from the original Reese complex.
Its plans are the result of collaboration and input from the City of Chicago, Michael Reese Advisory Council, 4th Ward Alderman Sophia King and the community. The $3 billion second phase of the project calls for additional retail, commercial space, and market-rate housing with 20% set aside for on-site affordable housing, with anticipated construction in 2025.
- Project: Bronzeville Lakefront
- Location: McCormick Place to the north, the marshalling yards along the South Lakefront to the east, 31st Street to the South and Martin Luther King Drive to the west