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The Rebirth of Garfield Park Revitalization Development

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn more about a fund included in this directory, click on the name.

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Directory Stats as of July 1, 2020:

215 Total Funds $47.2 Billion Total Anticipated Investment 63% of Funds Target Investment in Affordable Housing and Community Development

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Fund NameThe Rebirth of Garfield Park Revitalization Development
Fund Manager or Organizer(s)Garfield Park New Community Development Corporation
Fund Size$1,000,000,000
Fund-Related Websiteopportunityzoneprojectchicago.com
Investment Focus
Affordable Housing, Commercial Real Estate, Community Revitalization, Economic Development, Mixed-use Development, Multifamily Residential, Small Business Development
Geographic Focus
Illinois
Additional Fund Details

THE SOLUTION
Phase 1/2/3 (Boundaries; 2700 West Madison to 4700 W Madison/5th Avenue):

The nonprofit minority-owned and operated Garfield Park New Community Development Corporation (GPNCD) proposes the development of a 50-building, 733,940+ gross-square-foot commercial and residential development complete with 70 commercial units, 400+ affordable residential units, and 600 parking spots for commercial and residential end users. While the initial gross square footage and 400 affordable residential units are based upon buildings that conform to the pre-established maximum Floor Area Ratio (FAR) of the neighborhood, GPNCD has already discussed and received support from the Chicago Department of Planning and Development who will help us to ease those FAR limits to allow for more affordable housing units. Furthermore, just as recently as the week of the submittal of this proposal, the GPNCD has secured a verbal agreement with a local business to begin construction plans for the of a veteran’s living facility either within the proposed Garfield Park area or within another property just west of the proposed area that is being secured for ownership by the GPNCD.

PROJECT FOCUS AREAS:
*Small Business Expansion
*Jobs and Skills
*Financial Health
*Neighborhood Revitalization
*Collaborations

Organization Details

The Founders and Owners of the Garfield Park New Community Development Corporation (GPNCD) formed in 2018 are 2 important members of the Garfield Park Chamber of Commerce: Siri Hibbler, the Chairperson of the GPNCD and the Founder and President of the reformed Garfield Park Chamber of Commerce, and Karl Guider, the Treasurer of the GPNCD and the in-house Architect of Record for the Garfield Park Chamber of Commerce and the proposed development project through the GPNCD. Each serve as the board members and 50% owners of the GPNCD organization.

Fund Contact....
NameSiri Hibbler
Job TitleCo-Founder, Chairman and Fund Leader
Phone(312) 970-9036
EmailEmail hidden; Javascript is required.
Additional Comments

The Fund by the Garfield Park New Community Development Corporation (GPNCD) presents a development project that is greatly needed in Garfield Park and in many other Chicago communities. We believe that we have found the solution to the economic, racial, and social inequality that has plagued Garfield Park, and that solution is empowering the local community with the collaboration and finances needed to create a new community that curbs gentrification, raises pride within the community, and provides a blueprint for future developments.

Too often the story ends with a displaced community voicing their displeasure with not being a part, nor being aware of the future plans of their own community. There are many Garfield Park residents that have lived in the community for 50+ years. Wouldn’t a great ending to that 50+ years, experience be that those individuals spent the rest of their lifetime in a community that finally turned the corner?

The GPNCD is Garfield Park. And Garfield Park has spoken. The time is NOW to Rebirth the Garfield Park Community.


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