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Chicago & Midwest  + South Side  + Finance  |  August 2, 2018
Paul Bubny
By: Paul Bubny

Downtown Projects Fund Grants to 33 South and West Side Businesses

The city’s third round of investments from the Neighborhood Opportunity Fund went directly into 33 small businesses on Chicago’s South, West and Southwest sides. The businesses receiving a total of approximately $5 million in investment included a Grand Boulevard grocery store, a North Lawndale restaurant and a Little Village fruit market.

The third round of funding is the largest to date for the program, which provides grants up to $250,000 for economic development projects along commercial corridors in targeted neighborhoods. The neighborhood projects supported by the third round of grants are expected to generate a total of $38.3 million of investment.

The program is financed by voluntary payments made by downtown development projects, in exchange for density bonuses. Eighty percent of those payments are earmarked for projects on the South, West and Southwest sides. The remainder is split between local infrastructure projects and landmark buildings citywide.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Economy
  • ◦Financing
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