How to make Chrome forget a permanent redirect?

Recently I've been working on a project that sets up a number of permanent (HTTP 301) redirects on localhost. While that's useful for that project, after stepping outside of that project these redirects got in the way of other development activity. Here's how to force Chrome to forget redirects:

Open the Chrome Developer Tools (F12)
Go to the Network tab and make sure Disable cache is ticked
Reload (or navigate to) the page you no longer want to be redirected while keeping the dev tools open.

This will clear the cached redirect.