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Lightfoot Proposes Acquiring Pilsen Site for Affordable Development
The City of Chicago would acquire 6.3 acres of vacant land in the Pilsen neighborhood and make it available for affordable, mixed-use redevelopment through a proposal submitted to City Council recently by Mayor Lori Lightfoot.
Comprised of former industrial land on the 1600 and 1700 blocks of South Peoria Street, the property would be purchased for $12 million from PMG Investments LLC. Following the purchase, the Chicago Department of Housing would initiate community engagement activities to solicit stakeholder input on a future Request for Proposals for one or more mixed-use projects.
Consisting of 28 individual lots, the site is a nexus of community concerns about gentrification, displacement and the potential impact of hundreds of new residential units being built, the Lightfoot administration said. In 2015, PMG proposed a 500-unit, mixed-use building on the property that was prevented from moving forward by a 2016 zoning change.
- ◦Development
- ◦Policy/Gov't
