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Redevelopment Agreement Amendment to Extend Project Completion Date for Renaissance Estates

  • When: 2025/07/15
  • Address: 1555 W 122 St, Chicago, IL
  • City: Chicago
  • State: IL
  • Category: Contract
  • Subcategory: Contract Amendment
  • Subcategory-Type: Extension
  • Asset Class: Mixed-Use

The City Council authorized an amendment to a redevelopment agreement with JTA Development, Inc. for the Renaissance Estates project. This amendment replaces a previously revised amendment and primarily extends the project completion date. The original redevelopment agreement, which provides tax increment financing (TIF) assistance, was entered into in 2006 for a project within the 119th Street/I-57 Redevelopment Project Area. The developer has encountered challenges causing delays, necessitating this extension.

Source

Developer - JTA Development, Inc.