Inflation Pushes Cost Estimate on Woodlawn Central Project to $800M
The estimated cost of Woodlawn Central, a mixed-use development in Chicago’s Woodlawn neighborhood, has increased by one-third since the start of this year, the Chicago Sun-Times reported.
J. Byron Brazier, lead developer on the project, pegged the overall investment at $800 million due to inflation, compared with $600 million when details were first laid out in early 2022. It’s slated for eight acres owned by the Apostolic Church of God, and will include apartments, a hotel, commercial space and a parking garage.
Brazier told the Sun-Times the higher costs haven’t discouraged interested partners from inquiring about the project.
“We are looking at who we can have the best working relationship with,” Brazier said, emphasizing the church’s long-term interest in controlling the development.
The church has about 20,000 members, a sizable percentage of Woodlawn’s population. The neighborhood has dwindled to fewer than 25,000 residents, compared to 80,000 in the 1960s.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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