On Wednesday, the Chicago City Council approved a $2 million donation to build a beverage manufacturing facility in Pullman park on unused land.
It has also begun considering giving $1.7m to a developer seeking to build an incubator for small businesses in the South Lawndale area.
Both cases are funded from the Neighborhood Opportunity Fund. This fund is funded through fees collected on downtown construction to support commercial corridors in the South, Southwest and West Sides of the city. Grants over $250,000 require the approval of the City Council.
The beverage facility in Pullman Park would cost $7.2 million and include a cafe, brewer, coffee roastery, and taproom. About 50 people would be employed.
The $4.6 million Xquina Business Incubator in South Lawndale would renovate a 13,000 square foot building, including shared office space, a commercial kitchen shared by entrepreneurs, a bank and a café.
Separately, the city presented a $42,000,000 proposal for a mixed-use apartment building of 27 units on land owned by the city at 601-21 W.47th St.
Bella Noir LLC, a developer, wants to replace five lots of 0.63 acres with two lots adjacent to its own. If approved, the city will sell the lots at a value of $784,000.
The building, which is 100,000 square feet, would have 14,000 square foot of commercial space, including a pharmacy, a fitness center, medical offices and office space for Lyric Foundation.