Real Estate Development
CNI partners with public and private stakeholders to develop commercial, industrial and residential real estate. These developments, including grocery stores, affordable housing, workspaces and retail centers, bring much-needed services and amenities to underserved communities. CNI also partners with stakeholders to restore, preserve and adapt vacant and abandoned buildings and historic properties – an essential step in neighborhood revitalization.
Green Sustainable Development
Besides creating economic development opportunities that revitalize neighborhoods and improve people’s lives, CNI and its community partners also are focused on addressing urgent environmental issues, such as climate change and air pollution, by attracting and developing energy efficient and environmentally friendly projects to ensure a sustainable future.
CNI is among a coalition of Chicago developers working to transform the former Michael Reese Hospital’s site into the Bronzeville Lakefront, a $3.8 billion mixed-use development anchored by a 500,000 square foot Israel Sheba Medical Center. The redevelopment project will create new commercial, institutional, and mixed-income housing, and thousands of jobs while honoring Bronzeville’s rich heritage.
Facilitating Development on High Impact Projects
CNI has been awarded $80 million in New Market Tax Credits to develop high-impact community facility projects. These projects strengthen neighborhoods and improve the lives of local residents. They include the University of Chicago Hospital Trauma Center; Ray and Joan Kroc Salvation Army Center in West Pullman; the Roseland Community Hospital; Noble Charter School Network; the Lawndale Christian Health and Fitness Center and Medical Corridor; the WINGS Metro Domestic Violence Shelter; and the Pullman Whole Foods Midwest Distribution Center. CNI also provided source debt to the Pullman Community Center NMTC transaction.
Preserving History while Building for the Future
CNI brings a great deal of experience and expertise in utilizing a wide range of public financing tools to develop new projects. These include Tax Increment Financing (TIF) and New Market Tax Credits (NMTCs) for commercial projects and Low Income Housing and Historic Tax Credits for residential developments. These tools, in turn, help attract additional private investment.