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Canyon-Johnson Urban Funds and a joint venture between Vermilion Development, Inc. and JFJ Development will work together on a $106 million redevelopment of the mixed-use Harper Court in the Hyde Park neighborhood of Chicago.

Activity on the long-delayed redevelopment of Hyde Park has picked up this year. Canyon-Johnson and its partners’ mix of commercial office, retail, residential and hospitality uses will be constructed in two phases on 3.3 acres at 53rd Street and South Lake Park Avenue, starting with a nine-story, 150,000 square-foot office tower and construction of up to 425 residential units in the second phase.

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