Chicago Approves New Apartment Development in Bronzeville

- The recently approved project is located at 3746 S. Michigan Ave. and will be developed by Capricorn Design + Build LLC. It consists of four separate four-story buildings, totaling 90 units on a lot that has been vacant for over two decades. - Designed by Hanna Architects, the $24 million development will feature a mix of 19 one-bedroom and 71 two-bedroom apartments. In compliance with the city's Affordable Requirements Ordinance (ARO), 18 of the units will be designated as affordable. - Construction is slated to begin in March 2026, with the first units expected to be delivered by the end of 2027. The design draws inspiration from traditional Chicago six-flats and includes amenities like rooftop decks and 14 parking spaces per building. - This project is part of a larger wave of development in Bronzeville, including the $100 million "43 Green" equitable transit-oriented development (ETOD) at the 43rd Street Green Line station. The first 99-unit phase of 43 Green is fully leased, and the second 80-unit phase is under construction. - Another significant proposal for the area is Trinity Square, a $157 million, 28-story tower with 366 apartments planned next to the historic Olivet Baptist Church. This project aims to have 80% of its units designated as affordable housing. - While the Gold Coast's average rent was around $2,550 with 5% year-over-year growth as of February 2026, Bronzeville's average rent was approximately $1,520 with a 1% increase. However, some analyses have shown rent growth as high as 7-8% in Bronzeville due to new construction. - The developments are adding density to a historic neighborhood known as the "Black Metropolis," which was home to influential figures like Gwendolyn Brooks, Louis Armstrong, and Ida B. Wells. The area features a mix of historic greystone buildings alongside these new construction projects.