A Whole New Neighborhood Is Coming To The Prairie South Of South Loop
By Mae Rice in News on May 12, 2016 3:38PM
Land southwest of Clark Street and Roosevelt Road (photo via Google Street View)
Chicago is a city of neighborhoods, and we're slated to get a whole new one. Developer Related Midwest has signed on to lead development on a 62-acre parcel of land between the South Loop and Chinatown, and plans to develop it into a new Chicago neighborhood, the Tribune reports in a big feature on the project.
Related's president Curt Bailey told the Tribune he estimates it will take 15 years to complete the project. The land, hemmed in by Roosevelt Road, Clark Street, 16th Street, and riverfront, is currently a chunk of prairie that has neither roads nor sewer access—so the project will involve urbanizing the land as well as buildings homes by the thousands, retail space and offices.
The city currently plans to help the project along by extending Wells Street, which dead-ends under the Roosevelt flyover, through the neigborhood-to-be. Chicago's planning and development commissioner David Reifman told the Tribune that the development is "a priority for the mayor."
Though the development process will be a collaborative effort, Related Midwest plans to lead the charge, the Tribune reports. They've worked on numerous projects in Chicago, though their highest profile property may be the site of the non-existent Chicago Spire, which the Tribune reports they've owned since last year. Currently, the spire site is an abyss surrounded by dirt piles.
It's worth reading the full Tribune feature, which you can find here.