Celadon JV Breaks Ground on Chicago Affordable Project
United Yards will comprise three buildings.
Celadon Partners, in joint venture with Blackwood Group, has broken ground on United Yards, a three-building master-planned development in Chicago’s Back of the Yards neighborhood.
Years in the making, the United Yards project underwent several changes through its development process. The latest version comprises three fully affordable buildings and is slated for delivery in October 2025. Skender is the general contractor and DesignBridge is the architect of the future development.
United Yards will consist of a six-story building with 45 units located at 4703 S. Justine St., additionally to a pair of modular apartment buildings with three flats each, located at 1639 and 1641 W. 47th St.
The 62,925 square-foot Justine Street structure will feature a business entrepreneur hub and youth programming space on the ground floor, a multi-purpose amenity space on its top floor, EV charging stations and 19 parking spaces. Located on a single site, the two modular buildings on 47th Street will be all-electric. The project received a full-building permit in early 2024, according to Urbanize Chicago.
With all three buildings along 47th Street, residents will have access to several eateries, retail options and bus stops within a mile of all sites. Downtown Chicago will be less than 8 miles north.
According to a new Yardi Matrix report, affordable housing completions will experience a significant drop in the next five years. Fully affordable deliveries in the U.S will peak in 2025 to more than 70,500 units, but are expected to decrease to almost half of that number until 2029.
