MAY 12, 2021
A visualization of the existing street grid at the Reese site (left) and the city’s planned reconfiguration [Department of Planning and Development]
Developers and city planners will avoid dipping into millions in available tax-increment financing for a projected $60 million public infrastructure overhaul planned for the site of the “Bronzeville Lakefront” campus, city officials confirmed on Tuesday.
Leaders of the city’s Department of Planning and Development and the GRIT development team detailed their budding financial arrangement during a meeting of the Community Development Commission, which voted on Tuesday to allow the city to sell a 48-acre slice of the former Michael Reese Hospital site to GRIT.
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