Habitat tops off second apartment building at 43 Green

Habitat, co-developer of 43 Green along with P3 Markets, announces it has reached two major milestones on the $100 million, mixed-income, mixed-use project in Bronzeville, including full lease-up of the Phase 1 apartment building, located at 4308 S. Calumet Ave.

The 10-story, 99-unit property, which consists of 50 affordable apartments reserved for households earning up to 60% of the Area Median Income (AMI), with the remainder leased at market rate, welcomed its first resident move-ins this past June.

Simultaneously, the adjacent 43 Green Phase 2 building, also 10 stories and located just west of the 43rd Street Green Line at 4309 S. Prairie Ave., has topped off this month. Comprised of 80 units, 44 of which will be designated as affordable, Phase 2 is targeted for completion by late summer 2024 with resident move-ins scheduled to begin soon after.

Located on a long-vacant, city-owned lot on the northeast corner of East 43rd Street and Calumet Avenue, just north of Hadiya Pendleton Park, the Phase 1 building is the largest of 43 Green’s three planned buildings, and includes a mix of studio, one- and two-bedroom floor plans, as well as 5,500 sf of retail space and off-street parking.

43 Green Chicago south side apartment building — Habitat, co-developer of 43 Green in Bronzeville along with P3 Markets, has reached 100% lease-up of the 99-unit Phase 1 residential building located at 4308 S. Calumet Ave. Photo courtesy Habitat, P3 Markets

Common resident amenities include a fitness center, business center, picnic area, community room with kitchen, two rooftop terraces, laundry facilities, and bicycle storage. The Phase 2 property has a similar unit mix and amenities package and will include surface parking for 13 vehicles, 56 bicycle parking spots, two outdoor terraces, a fitness center, laundry facilities, and flex work-from-home spaces, as well as 3,700 sf of retail.

Chicago South Side's First Equitable Transit-Oriented Development

The first equitable transit-oriented development (ETOD) on Chicago’s South Side, 43 Green is spearheaded by Chicago-based Habitat, a leading U.S. multifamily developer and property manager, in partnership with P3 Markets, a real estate development firm based in Bronzeville that is dedicated to public-private partnerships. A third residential phase, with approximately 70 units, is expected to break ground in early 2025.

Like many global cities, Chicago has a robust public transportation system, making it a leading market for pedestrian-oriented TODs that reduce reliance on vehicle ownership. Yet under earlier versions of the city’s ETOD Policy Plan, virtually no transit-adjacent development occurred on the South and West sides, with nearly 90% of projects that accessed TOD incentives between 2016 and 2019 constructed on the city’s North Side, Northwest Side, in downtown and around the West Loop.

Aerial view of chicago south side apartments — Bracketing the 43rd Street Green Line L station in Bronzeville, 43 Green reached two major milestones with top off of the Phase 2 residential building (left) and the Phase 1 property (right) reaching full lease-up. Photo courtesy Habitat, P3 Markets

To bridge this gap, the Chicago City Council passed the Connected Communities Ordinance in 2022 to create more connected and thriving communities around Chicago’s vast public transit options. As part of the ordinance, TOD incentives were extended more broadly and equitably across the city, including to a standard four-block radius from rail stations and two blocks from additional high-frequency and strategic bus corridors.

Construction of 43 Green is being led by a joint venture of Bowa Construction, a minority-owned, full-service construction management and general contracting company, and McHugh Construction, with Landon Bone Baker as architect for the development.

43 Green is the first of many ETOD projects Habitat expects to see rise in cities with strong mass transit. Currently, Habitat is in the final planning stages to redevelop Marine Drive, a 616-unit affordable housing ETOD in Buffalo, N.Y., located along the city’s waterfront district and light-rail line.

On the Building Team:
General Contractor: Bowa Construction and McHugh Construction
Developers: The Habitat Company and P3 Markets
Architect: Landon Bone Baker
Landscape Architect: McKay Landscape Architects
Civil Engineer: Engage Civil
MEP Engineer: dbHMS and Element Energy Consulting
Sustainability Consultant: dbHMS

The U.S. is ill-prepared to provide adequate housing for the growing ranks of older people, according to a report from Harvard University’s Joint Center for Housing Studies. Over the next decade, the U.S. population older than 75 will increase by 45%, growing from 17 million to nearly 25 million, with many expected to struggle financially.

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