08-05-2025
Thrive Exchange development under construction to bring more affordable housing to South Chicago
A $100 million project in the South Chicago neighborhood is celebrating its progress to bring more affordable housing and reinvestment opportunities to the South Side of Chicago.
Thrive Exchange South, at 79th Street and Exchange Avenue, celebrated its "topping off" on Thursday, as crews raised the final beam of its construction.
"As we raise the final beam of this transformative project, we are doing far more than just topping off a building, we are raising the bar for what's possible in South Shore and South Chicago," Ald. Greg Mitchell (7th) said.
The six-story mixed-use building will include 43 units of affordable housing, 84 units of luxury workforce housing rental apartments, 24 for-sale condominiums, and 10,000 square feet of retail space on the ground floor.
The project also will a healthcare center, with more than 50 jobs, and serving more than 15,000 patients a year.
The $100 million project is being financed with up to $18.5 million in tax-exempt housing revenue bonds issued by the city, a $13.1 million TIF grant, and more than $6 million in other grants and loans from the city.
