MISSION: To improve the conditions of business and residential spaces by providing resources and new developments that change the way people think and live on the mid and far southside.
VISION: To be the most resourceful and effective economic community development organization in the South Chicago land area by becoming the “super” facilitator for economic change.
HISTORY: The Far South Community Development Corporation (Far South CDC) is a 501 (c) (3) not-for-profit corporation, which was established to foster economic development and eradicate slum and blighted conditions in its service area. The organization, The Beverly Local Company, was founded in 1977 and initially specialized in small business loans and loan packaging for businesses. The organization did about nine small business loans totaling about $50,000 and several other loan packages for businesses. Then in 1980 the organization decided to emphasize brick and mortar development projects. With this new direction, the organization changed its legal name to the Beverly/Morgan Park Community Development Corporation (BMPCDC).
The first project was the 35,520 square foot Hilltop Shops renovation in 1981 at 1820-56 West 95th Street, Chicago, IL. The project contained an incubator building comprised of nine businesses and over $200,000 in renovation, which created 20 construction jobs.
OTHER HISTORICAL ACCOMPLISHMENTS
1990 – Morgan Park Professional Building, 1701 West Monterey, Chicago, IL | 65,000 sq. ft. | $2 Million
1993 – Longwood Professional Building, 1987 West 111th Street, Chicago, IL | 12,500 sq. ft. | $1 Million
1997 – Borders Books and Music, 95th Street and Leavitt Avenue, Chicago, IL | 80,000 sq. ft. | $4 Million
1997 – Walgreens Store, SWC 95th and Ashland, Chicago, IL | 60,000 sq. ft. | $1.2 Million
1997 – McDonald’s, SWC 95th Street and Charles, Chicago, IL | 35,000 sq. ft. | $800,000
1997 – Church Facility Ladder Day Saints, SEC 111th and Vincennes, Chicago, IL | 30,000 sq. ft. | $1.3 Million
1998 – Small Retail Building, 11213-15 S Vincennes, Chicago, IL | 7,500 sq. ft. | $90,000
1999 – Service Station and Snack Shop, 1530 West 111th Street, Chicago, IL | 11,000 sq. ft. | $350,000
2003 – Mixed Use Building, 11155-59 S Vincennes, Chicago, IL | 7,500 sq. ft. | $500,000
2005 – In-Fill Housing Project on Scavenger Sale Properties, 102 S Vincennes, Chicago, IL | 45,000 sq. ft. | $7 Million
1997-Present – Vincennes Corridor Redevelopment Project | 115,000 sq. ft. | $20 Million in Housing Units and $500,000 in Commercial Development
2002-2005 – Two new Beverly Bank and Trust Co. Facilities, 10258 S Western and 1908 W 103rd Street, Chicago, IL | 40,000 sq. ft. | $10 Million
2002-2005 – 95th and Claremont to Oakley (North and South Side) | 100,000 sq. ft. | $7 Million
2005-2006 – Koda Restaurant, 10458 S Western Avenue, Chicago, IL | 5,500 sq. ft. | $1 Million
On January 1, 2007, the Far South CDC began focusing on the 9th, 21st, and 34th Wards.
In the past nine years, Far South CDC substantially evolved by focusing more on supportive efforts to achieve larger neighborhood revitalization efforts. From 2007 to 2009, the Far South CDC worked with the City of Chicago’s Department of Planning & Development (DPD), 34th Ward Alderman’s office, a local developer, and Primstor Realty Group to plan and coordinate development of the 488,000 square foot Marshfield Plaza shopping center, which is home to major retail anchors including, Target, Jewel, L.A. Fitness, Marshall, and Burlington Coat Factory.
In 2010, the Far South CDC supported 34th Ward office and Exelon to develop the world’s largest urban solar farm, Exelon City Solar. The Exelon City Solar is a 41-acre solar plant, which has 32,292 PV Modules built on land that was formally the International Harvester and Ingersoll Manufacturing Plants. The solar farm produced 200 construction jobs and has a number of environmental impacts, which is in accordance with Mayor Daley’s Chicago Climate Action Plan and Exelon 2020 Initiative.
In 2010, the Far South CDC created the Special Service Area (SSA) #45 and #46 Business Commercial Districts. Special Service Areas are a tool used by industrial, commercial, and residential areas to fund additional services and programs in local neighborhood business districts. Far South CDC has provided nearly $7 million in direct services to nearly 150 businesses in the business district along South Halsted Street.
Created in 2012, Far South CDC partnered with the Chicago Neighborhood Initiatives (CNI) to administer the Micro-Market Recovery Program (MMRP) Neighborhood Stabilization Program for the West Pullman target area. The program was allocated $3 million by the HUD and the City of Chicago’s Department of Planning & Development (DPD) to restore vacant and foreclosed properties in West Pullman that had suffered from an increase in foreclosures and decline in resident population. Since 2012, the program has redeveloped and sold 7 properties and triggered 69 re-occupations of single-family homes in the target area.
The Far South CDC supported the development of the 34-acre Ray & Joan Kroc Recreation Center, which opened in mid-2012. In 2013, Far South CDC partnered with Camiros and AREA to establish the 107th Street Tax Increment Financing (TIF) district and the expansion of 119th Street & Halsted TIF district. In 2014, Far South CDC partnered with Chicago Metropolitan Agency for Planning (CMAP) to develop the 119th Street Corridor Plan for West Pullman. In 2015, Far South CDC acquired Special Service Area #49 in South Shore neighborhood to provide business services to the business corridors.
In 2016, Far South CDC acquired the Greater Roseland/West Pullman Food Network, which will provide access to healthy affordable food to the low-moderate income areas in its service area. The Food Network will host an annual Halsted Neighborhood MarketPlace that will feature a the South Halsted Farmers Market and neighborhood activities and games. Far South CDC has acquired an additional 6.4 acres of vacant commercial land for redevelopment on 115th Street & Halsted.