GraceK Contractors’ plan to build a 30-unit housing development in Bronzeville will add to the growing number of residential projects in the neighborhood.
The developer’s Landmark Square complex will feature 10 townhomes, 12 condominiums and eight single-family houses around 33rd Street, Prairie and Giles avenues, according to Crain’s.
GraceK will launch the Landmark Square development by the end of this month with the townhomes, which will be priced from $580,000. Michael Gilliano of Compass is marketing the development.
The firm paid $1.9 million in 2017 for roughly 18 long-vacant city lots that make up the project site from a developer who failed to build there, according to Crain’s.
Builders have been launching more projects in Bronzeville of late. The city granted 73 permits for new construction totaling almost $30 million of work in the neighborhood between July 2017 and July 2018, compared to 27 permits for $19 million worth of projects — including a $11 million park fieldhouse reconstruction — during the same period from 2014-15.
Last year, the first round of single-family houses was completed through the city’s Parade of Homes program, which gives developers discounts on city-owned land to build market-rate homes. And they turned brokers’ heads when they sold for upward of $600,000 each in the 4500 block of South Prairie Avenue.
McBrearty Builders, meanwhile, is developing a condo complex on another long-vacant site in Bronzeville. The three-building Flats on the Drive project is rising at Pershing Road and King Drive. [Crain’s] — John O’Brien