SHDC: About
History
Established in 2001, St. HOPE Development Company was founded by Oak Park Native Kevin Johnson.
The mission of St. HOPE Development Company is to revitalize the Historic Oak Park neighborhood as a catalyst through economic development.
Through real estate development and property management, St. HOPE Development Company strives to create an economy that brings jobs and businesses to Oak Park.
Catalyst Project
40 Acres Art and Cultural Center
St. HOPE’s catalyst project is the 40 Acres Art and Cultural Center, a mixed-use retail complex located in the heart of the Oak Park commercial district.
40 Acres is home to Underground Books, Oak Park Old Soul, Twelve Loft Apartments and soon to open wine bar and restaurant.
Economic Impact
According to a 2019 economic impact report prepared by the Tootelian Company, the economic impact of St. HOPE is nearly $5.7 million annually in Oak Park and more than $28.1 million annually across the region when jobs, labor income and indirect business tax revenue are factored in. Annually, nearly 390 jobs are created, which means more than $14.5 million in additional labor income that can be spent by households each year, and more than $1.5 million in indirect business taxes are generated.