INVEST South/West is an unprecedented community improvement initiative from Mayor Lightfoot to marshal the resources of multiple City departments, community organizations and corporate partners toward 10 neighborhoods on Chicago’s South and West sides. Through this groundbreaking collaborative by government, businesses, philanthropies, and community leaders, the City will align more than $750 million in public funding over the next three years.
The initiative will seek to maximize those public investments in order to attract private capital, respond to changing commercial trends and enrich local culture. The goal of the initiative is to re-activate neighborhood cores that have historically served as focal points for pedestrian activity, shopping, services, transportation, public spaces and quality-of life amenities for local residents. “The INVEST South/West initiative will bring together government, businesses, philanthropic organizations and community groups to make coordinated investments in 10 neighborhoods, giving residents more opportunities and driving inclusive, measurable growth throughout all of Chicago,” says Mayor Lightfoot.
INVEST South/West will leverage $250 million in existing business development and infrastructure funding from the Department of Planning and Development (DPD) through the Tax Increment Financing, Small Business Improvement Fund, and Neighborhood Opportunity Fund programs to support improvement projects that align with local priorities.
These investments will build on more than $500 million in planned infrastructure improvements that will provide transportation, housing and quality of life enhancements that bolster the vitality of the corridors and surrounding blocks. This includes area infrastructure projects already allocated, such as FastTracks improvements to the CTA Green Line, the Auburn Park Metra Station, and a new track and field facility in Gately Park in Pullman.