The City of Chicago has approved a redevelopment agreement and the issuance of tax increment financing (TIF) funds to Franciscan Outreach for the acquisition and rehabilitation of the property at 2508-2538 W 21st St. Additionally, the Western/Ogden Tax Increment Financing Redevelopment Area Project and Plan has been amended to change the allowed use for this property from industrial to mixed-use development. The approval, introduced by Mayor Brandon Johnson, was finalized on February 19, 2025.
This decision supports affordable housing and mixed-use development while utilizing TIF funding to encourage urban revitalization. The change in zoning from industrial to mixed-use aligns with the city’s long-term development goals.