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Nonprofit wants to revitalize South Shore with affordable health care, housing and retail

29 Nov 2022 5:43 PM | Deborah Hodges (Administrator)

Thrive Exchange is a “four-corner approach” to revitalizing the 79th Street corridor just two blocks from the lake. The project includes apartments, condos, retail spaces and a primary care health center. Chicago Family Health Center is one of six finalists for the Pritzker Traubert Foundation $10 million Chicago Prize 2022. [Sun-Times]

The Ringer Bank Building was once a hub of South Side business operations for businessman Charles Ringer.

But after a stint as a car dealership, the 1928 building sat vacant for years on the corner of 79th Street and Exchange Avenue in South Shore.

Chicago Family Health Center and DL3 Realty now want to breathe life back into the three-story building as part of a revitalization effort for the area through Thrive Exchange, officials said.

The project, which includes a health care center, apartments and retail, is one of six finalists for the Pritzker Traubert Foundation’s $10 million Chicago Prize 2022.

The prize is part of a $30 million commitment from the foundation to increase development over the next three years on the South and West sides. The winner of the Chicago Prize will be announced in December.

The Thrive Exchange project would bring an affordable health care center to the 20,000-square-foot Ringer building.

Near the building, two apartment buildings with 76 units and 24 condos with affordable price tags also would be part of the $100 million project. Apartments would rent at 60% of the median area income. There also would be 16,000 square feet of space for retail use.

About 450 jobs are expected to be created.


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