CHICAGO — The “largest mixed-use project ever undertaken in Chicago” broke ground Wednesday thanks to $60 million in city funding.

According to a press release from public relations firm Purpose Brand, LLC, the 100-acre megadevelopment dubbed Bronzeville Lakefront will be constructed on the site of the former Michael Reese Medical Campus and is “the nation’s first megadevelopment to have a 50% Black development team,” with “a 98% diverse or minority supplier team for the infrastructure portion of the project.”

The project is expected to create 45,000 construction jobs, 31,000 long-term, full-time jobs, and have an overall economic impact of $8.2 billion, according to the project’s website.

This story will be updated, check back later for additional details.