Cube opens with, “Once upon a time”, which lets the listener know that what we’re going to hear is a narrative. It’s a phrase that has been the opening for countless stories since 1380. It’s most commonly used in children stories and typically ends with “happily ever after” (or something along those lines).
A simple Urban Dictionary search tells us:
Projects
Usually a group of dirty buildings made for really poor/homeless people to live in. Projects are dangerous,very dirty,filled with gangsters,drug dealers,pimps,hookers and such. The first set of projects made(Starret City,made in 1963) where made for Blacks to live in,but over the years people of all races started to live in projects.

So it’s official… Cube’s story begins in a bad neighborhood.