Thursday, September 15, 2011

U.S. Bank says Pullman Park project will create more than 1,000 jobs

U.S. Bank says 1,000 permanent jobs and 700 construction jobs will be created as it builds out its Pullman Park development on the South Side.

The Minnesota-based bank has scheduled a press briefing for next Monday to provide an update on the Pullman Park project, which was started by Park Bank Initiatives, a nonprofit subsidiary of the now-defunct Park National Bank. Park National was acquired by U.S. Bank.

A land donation announcement will also be made at the briefing, as will a status report on retail and food offerings coming to the area, said the media advisory, which also outlines the jobs.

The event, at the U.S. Bank office at 1000 E. 111th St. in Chicago, is expected to be attended by Richard Davis, chief executive of U.S. Bank, Chicago Mayor Rahm Emanuel, Ninth Ward Alderman Anthony Beale, and Warren Ribley, Director, Department of Commerce and Economic Opportunity, the advisory said.

The Tribune reported last year that U.S. Bank is using $2.8 million in neighborhood stabilization funds to buy and renovate foreclosed homes as part of its larger Pullman Park project that will be anchored by a Wal-Mart store. Remaking the residential blocks west of the retail project is considered a necessary part of the plan to attract additional private investment to the area.
Have kept an eye on development in this area in the past. Since Park National Bank had been acquired after failure, I was concerned that development in this area wouldn't happen. Although we already know that Wal-Mart is coming to Pullman in the near future whether or not redeveloped as first discussed in 2008 were to even come to fruition.

1 comment:

  1. And how many of these 1,000 jobs will be at WalMart and/or pay minimum wage?


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 Joe Zekas ran the real estate news website YoChicago . If you have been following that site and their social media channels i.e. YouTube o...