Crews broke ground at "The 78" which will be a massive development along the Chicago River's south branch. This is currently a 62 acre vacant lot. This work marks the initial phase of the construction of this mixed-use mega-development as well as the final stage of the Wells-Wentworth Connector project according to Chicago Curbed.
Related Midwest's $7 billion development will consist of the following:
- 13 million square feet of new residential, commercial and retail space
- A public-private research center
- A seven acre crescent shaped park
The city approved a $700 million subsidy in the form of a tax increment financing (TIF) district to pay for infrastructure improvements in the neighborhood, including $364 million for the new Red Line station, the relocation of Metra tracks and improvements on Clark Street.
The Wells-Wentworth Connector, a new road that will directly connect the Loop and Chinatown by roadway for the first time, is a major part of The 78's infrastructure. Related Midwest expects the work on the connector to be finished by the end of 2020.
A Chinatown-to-downtown roadway was proposed many years ago by Daniel Burnham's famous 1909 Plan of Chicago. City officials have often talked about how this roadway was urgently needed. In 1929, the city finally took some action and straightened a crooked bend in the Chicago River to better connect the south side to the downtown street grid but the road was never built. It ended up becoming railroad infrastructure connecting to Grand Central Station, a former passenger railroad terminal on West Harrison Street. The terminal closed down in 1969 and the 62 acre lot has remained vacant for the past 50 years.
Former Mayor Rahm Emanuel brought the connector plan back to life in 2014 when Related Midwest bought the brownfield site.
Learn about all the Mixed-Use Projects coming up for bid in the Chicago Area
The first phase of the connector construction involved rebuilding Wentworth Avenue between 17th and 19th Street. This started in 2016 and was completed by 2017. The second phase is currently in progress and will realign Wentworth Avenue between Archer and Cermak.
Work on the final phase of the connector is a joint venture between Related and the Chicago Department of Transportation.
The new parkway will have the following features:
- Elevated bike lanes separated by trees
- Additional lighting for pedestrians besides the street lights
No information was given as to the completion date for The 78.
Per Related Midwest, The 78 will be a vibrant, unique, mixed-use community that will include residences, boutique retail options, numerous restaurant offerings, cultural institutions and office space that will be home to major companies. It will have more than 11 acres of publicly accessible green and open space that will draw people to the riverfront with restaurants and entertainment.
The 78 will also be the home to the Discovery Partners Institute, a world-class research and innovation center, which will serve as the major technology research hub in the Midwest and attract talent from around the world.
See DataBid Blog titled 11 Mega-developments in the works in Chicago
See DataBid Blog titled Chicago Council approves 2 massive projects - Lincoln Yards and The 78
DataBid is currently reporting on this project - The 78 Mixed Use Development South Loop - Chicago (0058052516)
