Convert part of Michigan Avenue into a pedestrian, cyclist and bus-only corridor; enliven an existing underground pedestrian network; and combine a creative residency program with affordable housing for artists: that's how to start a downtown Chicago revival, according to the winning team in the University of Chicago Harris School's Public Policy Innovation Challenge, a "Shark Tank"-style competition for up-and-coming policy pros.
Last week, four teams of finalists presented their answer to this year's challenge: What can Chicago do over the next three years to create a thriving downtown for the next 20 years?
The winners are Samantha Anderson, Masters of Public Policy class of 2025; Krista Brown, MPP 2025; Ashton Mayo-Beavers, MPP 2026; and Uchenna Offorjebe, MPP 2025.
The prize: $10,000, and a chance to make their policy vision a reality if they can enlist key stakeholders.
"Our goal in the challenge is to give people with the most at stake in the future of downtown — the next generation of taxpayers, business owners, civic leaders, policy experts — the opportunity to have their voices heard," Center for Municipal Finance Director Justin Marlowe said in his introductory remarks April 16. "And indeed, they seized that opportunity."
The final event capped off a series of seminars involving eight subject matter experts; multiple sessions with policymaking mentors; and a first-round review by other public policy pros.
It came six months after 90 students on 17 teams began the challenge, which was conducted in partnership with the university's Mansueto Institute for Urban Innovation.
It was standing room only at the Harris School's Keller Center as students, faculty and members of the public packed the building's recessed amphitheater-style seating, cheering their favorite team when each group took the stage before a panel of judges.
The judges were Danny Wirtz, chairman and CEO of the Chicago Blackhawks; Sasha-Ann Simons, host of WBEZ's Reset; David Wells, former CFO of Netflix; Phil Clement, president and CEO of World Business Chicago; Beth Swanson, CEO of A Better Chicago; and Michael Fassnacht, chief growth officer and president (Chicagoland) at Clayco.
The contest organizers' hope was that everyone would "leave a little more hopeful about the future of Chicago," Marlowe said.
"Uchenna, Ashton, Samantha and Krista came with energy, optimism and lots of ideas," said Dan Tollefson, chief of staff at the Chicago Community Trust and the winning team's mentor.
"Their coursework helped ground that enthusiasm in data and equipped them with a real understanding of how policy works — including practical challenges, public perception and unintended consequences," he added. "Their boldness and ambition never wavered as they refined their proposal to navigate thorny policy realities."
Tollefson said he believes the judges chose his team's plan because the students tapped into the universal desire to live and work in more walkable, connected and inspiring spaces.
"Their proposal went big and demanded that artists, residents, and visitors to one of Chicago's most iconic streets deserve that, too," he said. "Finally, the approach and evidence behind their proposal demonstrated how this isn't just some pipe dream: it can be done!"
The winning team called for a revitalization of the Cultural Mile, the stretch of Michigan Ave. in Chicago's Loop between the Chicago River and Roosevelt Road.
The students noted the area hosts assets like Millennium Park and the Chicago Cultural Center, but has faced challenges in recent years with the shift to remote work, resulting in fewer commuters, more office vacancies and less foot traffic.
Office vacancies in the neighborhood are at 26.5%, and foot traffic is at 91% of pre-pandemic levels. Loop residents also face high housing costs, up to 35% of household income, according to the students' presentation.
The total estimated cost of the winners' proposal is $301.97 million. Funding for the project would be a mix of tax increment financing (55.1%), federal transportation grants (42%) and funds from partners (2.9%).
"Debt financing is an option but not a necessity," Anderson, Brown, Mayo-Beavers and Offorjebe said, responding to questions jointly by email. "To match federal grants, the city would only need to secure $10 to $30 million, which is less than 1% of 2024's infrastructure spending. These funds could come from the city itself or with help from other benefitting partners such as the CTA or Metra."
Their TIF funding plans would require the Illinois General Assembly to amend the TIF Act to allow transit TIFs to be used for transit-oriented developments.
The students would then reinstate the Historic Michigan Boulevard TIF district, expand the LaSalle TIF district to include the targeted segment of Michigan Ave., and expand the proposed transit TIF district for a Red Line El extension.
"Currently, transit TIFs can only be used towards the construction or improvement of public transportation," the students said. An amended TIF Act that allows transit TIFs to fund major transit-oriented developments, as well, would create "more financial feasibility, as land value closer to CTA rail stations are substantially higher than property farther away," the team added.
Onstage at Keller, the winning team detailed a three-pronged plan. First, the students proposed making Michigan Ave. between Monroe Street and Wacker Drive a pedestrian, cyclist and bus-only corridor.
They selected those boundaries because of where key cultural assets are located, they said, but also because it still allows access to key parking garages for those who choose to drive.
The students believe there's a market for urban pedestrianized spaces. They pointed to Sundays on State in Chicago and the
Their proposed corridor would generate $700 million in annual dining and retail sales, $40 million from increased foot traffic, and $300 million in expected labor income, the students project.
They laid out a timeline to pilot the program, using temporary infrastructure to test and refine it before permanent implementation.
"Getting everyone on board could be a challenge as people voice their initial concerns, but we believe our thoughtful approach addresses people's primary opposition to the idea," the winning team said.
"Before piloting, we will also coordinate with stakeholders, most notably businesses and organizations along the corridor, and we imagine the Loop Alliance's network will be most effective at making this possible," the students added.
Second, the team called for an activation of the underused underground Pedway system, which connects the Cultural Mile to the rest of the Loop.
They cited Toronto and Montreal as examples of cities where underground pedestrian networks that include shopping and dining amenities have succeeded.
The activation of the Pedway could generate $10 million in tax revenue; $33 million of retail, food and services revenue; and over 110 jobs, the students estimate. They also expect it will encourage public transit use in the area.
"We wanted to build on assets that already exist and are underutilized," the students said, adding that "infrastructure is one of the most accessible and inclusive investments a city can make."
Lastly, the students called for a creative residency program, with affordable live/work spaces for artists that would support residential growth and repurpose vacant spaces.
"Artists and creative workers are increasingly disconnected from the city's core due to affordability challenges and spatial exclusion," the students said. "Traditional market-rate housing in the Loop effectively shuts artists out."
They noted that the average Chicago artist earns just over $58,000 annually. Their plan to embed affordable housing, studio space and public cultural hubs into the Cultural Mile aims to reverse the exodus of artists to other neighborhoods.
"In this way, investing in the arts is not just a cultural strategy — it's a practical one for rebuilding a more inclusive and resilient downtown Chicago," Anderson, Brown, Mayo-Beavers and Offorjebe said.
The students' proposal also calls for a grant program for small local businesses, which would provide up to $25,000 to cover the initial costs of moving into the Pedway. It would provide up to $50,000 to move into a retail space along the Cultural Mile.
The core of their overall plan is a focus on "strengthening what's already working — like the Loop's walkability, transit connectivity, and underground Pedway — to create a more inviting, functional, and equitable downtown," the students said.
The CMF's Marlowe said the event last week was the end of "a long, arduous, and sometimes unpredictable, but always rewarding journey" for the students.
"I think the winning team represented the Policy Innovation Challenge at its best: tomorrow's policy leaders sharing sophisticated analysis of innovative policy solutions to a complex, timely, real world problem," he told The Bond Buyer. "We're proud of the work they produced, and we think they contributed something really valuable to the conversation about the future of downtown Chicago."
