A Texas developer plans to build nearly 500 homes on the site of the former Cabrini-Green housing complex, another big step in the city's long-running push to redevelop the Near North Side property.

The Chicago Housing Authority said its board of commissioners has picked a team led by El Paso-based Hunt Development Group to develop 482 units of mixed-income housing on a 6.9-acre site at Larrabee Street and Clybourn Avenue. The project will include a 21-story tower, 32,900 square feet of retail space and several connected midrise buildings and low-rise townhomes, according to the CHA.

The city has been working on a final redevelopment plan for Cabrini-Green since tearing down the last towers in the notorious housing project nearly six years ago. The surrounding area has been filling in with new luxury residential towers and retail projects, including a Target store on Division Street and the NewCity shopping center at Clybourn and Halsted Street.

Hunt will serve as the master developer in a collaboration with Imagine Group and Chicago Neighborhood Initiatives, a unit of U.S. Bank best known for a big development in the South Side neighborhood of Pullman.

Hunt, which beat out four other development teams, has built more than 90 projects and 12,000 affordable and public housing units in urban areas such as Chicago, Dallas and Honolulu, according to the CHA. In Chicago, Hunt owns the Heritage Shops at Millennium Park retail property and has invested in apartment buildings in the South Loop and West Loop. “This is an iconic community. It's historic,” said William Little, senior vice president at Hunt who used to work at the CHA. “It's exciting to be part of a transformation like this.”