P3 Market’s 43 Green project has been awarded an affordable housing grant thanks to IL State Senator Mattie Hunter and Alderman Pat Dowell of the 3rd Ward of Chicago.
Consideration
As P3 Markets nears closer to breaking ground on the first stage of development for the 43 Green project, it is clearer that the message is being heard around the Bronzeville community. Part of the intent of this project is to help bolster economic growth for the neighborhood and provide opportunities for residents and business owners.
“43 Green will offer a safe and affordable housing option to families and prospective residents of Bronzeville,” Hunter said. “The project will benefit commuting residents, nearby market values, and economic development in a neighborhood that has lagged behind in investment in recent years.”
Understanding the importance this project brings to the community, Senator Hunter and Alderman Pat Dowell awarded P3 Markets with a $1,500,000 affordable housing grant.
Affordable Housing Grant Impact
The new funds will be earmarked for the residential development and offer much needed affordable housing to those already residing in the Bronzeville community. The units will provide access to transportation and close proximity to stores – not to mention a brand new space to call home.
“The 43 Green development is truly a community project with community effort, the funding that P3 Markets and 43 Green received could not have been attained without the combined effort of IL State Senator Mattie Hunter and Alderman Pat Dowell of the 3rd Ward of Chicago. The funding will be used for pre-construction and construction costs of the 1st phase of 43 Green.” said Phillip Beckham III.
P3 is proud to use these funds to invest back into the Bronzeville community, and bolster economic growth in the neighborhood. We are happy to see the government and community support this project, and look forward to groundbreaking next year.
Next Steps
P3 Markets is continuing to look toward the future and establish new partnerships along the way to fulfill the vision of 43 Green. P3 collaborates with public and private entities to provide meaningful value to the communities we invest in.
If you are interested in partnering with P3 Markets reach out today.