East 39th Street Commercial Corridor Plan by Chris Devins

chrisdevins

Street Commercial Corridor Plan is a comprehensive commercial real estate development plan that envisions the future of the East 39th Street Commercial
Corridor and the surrounding 2 mile trade area in Chicago, based on current demographic, real estate market, zoning, land use, political and commercial business data. For more visit Chris Devins Creative on the web. https;//chrisdevinscreative.com

EXISTING CONDITIONS

tio, resulting in high gang membership 4 .

Urban blight and crime followed, leading

to neighborhood deterioration.

Over ten years ago, in an effort to address

these problems Mayor Richard

Daley and the Chicago Housing Authority

set a goal to tear down Chicago’s

public housing projects and replace

them with a mix of for-sale homes and

subsidized and market-rate rentals. 3500

units in the Ida B Well/Madden Park

projects were torn down and development

of the 3200 unit Oakwood Shores

Development began in earnest in 2004.

Today the neighborhood’s historic significance

is driving new development

efforts. Night life is slowly improving,

and there are a number of coffee shops

and restaurants. The neighborhood’s

rich history is its primary asset. Notably,

revitalization efforts have not extended

west of the Dan Ryan Expressway or into

the Fuller Park and Washington Park

neighborhoods, which suffer from high

violent crime levels and vacant lots.

Figure 3 Brozeville, IL Source: Wikipedia

When the real estate market crashed in

2008 developers began slashing prices

in an effort to sell off their remaining

inventory. Some are being offered at

more than a third off their original price.

The price cuts have caused many original

buyers in Oakwood Shores to lose

their equity while their property taxes

have increased. The loss of the original

units and the slow pace of replacement

has meant few customers for the East

39th Street commercial corridor and it

has fallen into disrepair. This drop in

demand for the goods and services once

offered on the corridor has been devastating.

4 Hunt, D. Bradford. Blueprint for Disaster the Unraveling of

Chicago Public Housing. London: University of Chicago, 2009.

Print.

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