43 Green is a transit-oriented development (TOD) comprised of a multiphase, mixed-use, residential and commercial project anchored by the 43rd Street Green Line station at 43rd and Calumet. The combined development will directly invest over $100 million in the historic Bronzeville neighborhood on the South Side of Chicago. The project is led by a joint venture between P3 Markets, a Bronzeville based development company, and The Habitat Company, a full-service developer and property management company with nearly 50 years of experience developing and managing residential and mixed-use projects in Chicago. 43 Green is planned as three mixed-use residential phases on the south side of 43rd Street, and a new office building on the north side of 43rd. All the buildings will include ground-floor retail designed to activate 43rd Street and provide new services to residents who currently travel to Hyde Park for restaurants, groceries, and other services and household necessities.
Phase 1 of the development is a 99-unit residential building. 50% of the units will be affordable and 50% will be market rate. The area around the 43rd Street Green Line station is underserved for high-quality apartment homes. Bronzeville has been a hub for Chicago’s African American Community for over 100 years and many Chicago residents would be eager to live in Bronzeville if high-quality reasonably priced apartment homes were available. 43 Green will be marketed to young professional workers who commute downtown and to other locations around the region, and who feel connected to Bronzeville.
With the 43rd Street Green Line station as the community anchor, the project design intends to be similar in approach to TOD developments on the North side of Chicago. Like those developments, 43 Green is designed with smaller, highly efficient apartments and reduced surface parking which lowers the cost of development. This ensures rents can remain affordable to tax-credit qualified renters, and middle-income residents like teachers, tradespeople, public employees, and other early-career professionals.