Uptown Development on the Rise

In encouraging news, City Council has recently approved $16 million in TIF subsidies for the redevelopment of the old Maryville Academy site in Uptown. The debate was contentious but eventually alderman approved the measure by a convincing 37-13 margin. This will prove to be a boon for those looking for exciting new real estate opportunities in the burgeoning Uptown community. 3% of the units for the new development will be affordable units, which is appealing to lower-income individuals. The complex will also feature a 31,000 square foot grocery store and 278 parking units.

Access to public transportation has been a galvanizing force for increased development in Uptown. A prime example is the newly approved 9-story development being developed by MX3 architects. The proposed development will be located feet from the highly-trafficked Wilson CTA stop, which is currently being renovated to the tune of $203 million. The new development will include 197 units and large swaths of retail space on Wilson and Broadway streets.

An innovative new idea for a “Shared Street” in Chicago has been approved for a stretch of Argyle street between Broadway and Sheridan. In this area, cars, pedestrians, and bicycles will equally share the street in a project being sponsored by the City of Chicago. The goal is to create a vibrant “plaza style” environment that will feature evening markets, outdoor recreation, and commerce. Construction by the Chicago Department of Transportation is slated to begin late in the summer this year. City officials hope that this new pilot program will be a success and spur other neighborhoods to set up their own late-night plaza.