By Jim Williams

(CBS) — Mariano’s Fresh Market has announced its plans to open a new grocery store in Chicago, at the intersection of 87th Street and the lake.

“I join in welcoming Mariano’s to Lakeside. This will help anchor investment along the residential rich corridors that lead directly to the site and provide the southeast side with much-needed job opportunities,” said Natashia Holmes, 7th Ward Alderman.

Mariano’s will go up on the site of the old U.S. Steel plant down the street from abandoned buildings in a neighborhood where a homemade sign advertises a “cheap and ugly house” for $16,000.

“Every time a Mariano’s opens, 400 jobs are created,” said Governor Quinn.

Most of the jobs Mariano’s promised will be filled by people who live in the neighborhood.

“They need jobs. Everybody needs some kind of work here,” said South Chicago resident Quintin Brown.

Brown says the nearest grocery store is a Save A Lot on 83rd Street.

The hope is that Mariano’s will trigger a ripple effect throughout South Chicago, hit so hard by the July 4th violence.

“The commitment we make today is one small step to revitalize this community,” said Bob Mariano.

“Believe me, I’ve always said if they would ever come this way, this community would change,” said South Chicago resident Adolph Mines.

Mariano’s would not say exactly what percentage of the jobs will be filled by South Chicago. But the alderman there said he’s hoping for 100 percent. There is a promise to hold a Mariano’s job fair in the neighborhood.

Other Mariano’s locations employ an average of 400 total employees. Mariano’s Lakeside is expected to open in 2016.