A Chicago developer is set to purchase a row of long vacant South State Street buildings that will undergo a $141 million redevelopment, creating new residential and retail space.
CA Ventures submitted a $10.38 million proposal to acquire 202, 212, 214, and 220 S. State St. from the federal government, according to the Office of Mayor Rahm Emanuel.
[…] CA Ventures and Keith Giles LLC plan to surpass the City’s requirement for 50% City of Chicago resident participation, 26% minority business enterprise (MBE) and 6% women’s business enterprise (WBE) participation. CA Ventures expects to use UJAMAA Construction, an MBE a well as a disadvantaged business enterprise (DBE), which will work with McHugh Construction as the general contractor team.
“Taking a proactive approach to providing opportunities for minorities and women is an essential element with any project, and the project team will establish and implement a results-oriented program to achieve MBE and WBE goals,” Smith said.