Habitat's & P3 Markets' Second Building Near Chicago's 43rd Street Station Tops Off

43 Green Development Progresses with Topping Off of Phase 2 Building in Bronzeville, Chicago

The collaborative efforts of The Habitat Co. and P3 Markets in Chicago's historic Bronzeville neighborhood have reached a milestone with the topping off of the second apartment building at 43 Green. This 10-story, 80-unit Phase 2 structure, with 44 units designated as affordable, is situated at 4309 S. Prairie Ave. in the South Side enclave.

Completion Timeline and Lease-Up Status

Topped off earlier this month, the Phase 2 building is slated for completion by late summer of 2024, with the first move-ins expected to commence thereafter. This progress aligns with the achievement of full lease-up for Phase 1, located at 4308 S. Prairie Ave. The Phase 1 building, also standing at 10 stories and offering 99 units, with half designated as affordable, welcomed its first move-ins in June.

Affordability Measures and Compliance

In adherence to the Low-Income Housing Tax Credit program, 50 percent of the Phase 2 building is reserved for individuals and families with incomes at or below 60 percent of the Area Median Income. Charlton P. Hamer, Senior Vice President of Habitat Affordable Group, emphasized the meticulous income verification process, which, although extending processing times, ensures compliance with program requirements. The Habitat Co., with over 50 years of experience, is well-equipped to manage both unrestricted and restricted housing units, offering robust infrastructure for compliance support.

Equitable Transit-Oriented Development (ETOD)

43 Green stands as South Side Chicago's first equitable transit-oriented development (ETOD), transforming a long-vacant city-owned parcel on the northeast corner of East 43rd Street and Calumet Avenue, just north of Hadiya Pendleton Park. Both Phase 1 and Phase 2 buildings are conveniently located near the 43rd Street Green Line Station of the Chicago Transit Authority (CTA), with downtown Chicago less than 6 miles away.

Phase 1 Features and Amenities

Phase 1, the largest of the three planned buildings, features studio, one-, and two-bedroom layouts, along with 5,500 square feet of retail space and off-street parking. Common-area amenities include a community room with a kitchen.

Phase 2 Characteristics and Future Phases

Phase 2 replicates the unit mix and amenities of Phase 1 but adds surface parking for 13 vehicles, 56 bicycle parking spots, and 3,700 square feet of retail space. The third residential phase, offering approximately 70 units, is scheduled to break ground in early 2025.

Construction Leadership and Design

The construction of 43 Green is led by a joint venture featuring minority-owned construction management firm Bowa Construction and McHugh Construction. Landon Bone Baker serves as the architect for this transformative development.