Mayor Rahm Emanuel announced a selection of a development team to lead the revitalization of Michael Reese site in Bronzeville.
The team is led by Farpoint Development, Draper & Kramer, Chicago Neighborhood Initiatives, McLaurin Development Partners and Bronzeville Community Development Partnership, among others. The consultant architect for the team is Skidmore Owings & Merrill. The 10-year project is expected to create up to 36,000 temporary and permanent jobs.
“After sitting vacant for nearly a decade, today we are taking a major step towards the transformation and revitalization of the Michael Reese site,” Mayor Emanuel said in a statement. “Over the next 10 years this team will work with the community and the City to deliver a once-in-a-lifetime redevelopment that will generate economic opportunities and growth in Bronzeville and in neighborhoods throughout the city of Chicago.”
The first phase could include a logistics center to accommodate McCormick Place truck traffic on multiple levels, potentially with new associated event, exhibit and meeting space. Later phases include more than 5 million square feet of technology-oriented commercial spaces, retail uses, homes and a hotel, depending on market demand.
The Michael Reese site is the former location of the Michael Reese Hospital and Medical Center at 2960 S. Ellis Ave. which closed in 2008. The city acquired the property the following year.
The selected bid includes an initial proposal of $144.45 million in compensation for the Reese site and the marshalling yards. the proposal also includes plans for a new park and Metra train station at 31st Street, new pedestrian connections to the lakefront and a rebuild of Cottage Grove Avenue.
