The Chicago Transit Authority (CTA) has announced plans to develop a new Control and Training Center in West Garfield Park on Chicago's WestSide. It selected Sterling Racine LLC, which is a venture of Farpoint Development, to design and build the new center for $158 million.
This is part of a larger deal that will allow Farpoint to buy the CTA's current facility in the Fulton Market District and redevelop it with what could be a massive new project.
The CTA's board unanimously approved an agreement with a Farpoint venture to develop a 150,000 square foot complex on CTA-owned land near the intersection of Lake Street and Pulaski Avenue in Garfield Park.
Crain's Chicago Business states that plans call for consolidating its control center and a training center operations for CTA employees. Work is expected to begin in 2024 and be completed in 2026 according to a CTA statement.
As part of the deal, Farpoint will buy the three-story building at 120 N. Racine Avenue that houses the existing CTA control center on its top floor. The purchase price was not disclosed, but the CTA is expected to use proceeds from the sale to help fund the development of the new control and operations center. Other funding will come from CTA's capital budget and the Illinois Department of Transportation's Rebuild Illinois infrastructure funding program.
This project will provide a valuable economic boost to Garfield Park which is a neighborhood that rarely sees such large development projects. The new facility will house more than 250 CTA employees in addition to consolidating its handful of local CTA training center spaces into a single location.
"This project is a great example of how an investment in transit is an investment in the communities we serve. Not only will we be constructing a new, modern facility that will improve our day-to-day operation of buses and trains, it will also help generate new jobs and opportunities for those living and doing business within the surrounding community."
CTA President | Dorval Carter Jr.
The existing control center does not meet current security and threat standards and is in need of costly infrastructure repair and capital investment which is why the new center is so important.
Farpoint Principal Scott Goodman is the co-founder of prominent Chicago developer Sterling Bay and formed Farpoint in 2016. The firm signed a master lease for 80,000 square feet on the lower two floors of 120 N. Racine with a right of first refusal on any offer to buy the property. Farpoint has subleased most of the space to a mix of tenants, including logistics company ShipBob.
