18-01-2012 15:01 McCaffery Interests and US Steel have formed a joint venture, Chicago Lakeside Development LLC, to redevelop the largest tract of land in the City of Chicago- the former Southworks steel site in Southeast Chicago. The 500+ acre site is located on the shores of Lake Michigan just a short 10 miles from downtown. The award-winning Master Plan was created by Skidmore, Owings and Merrill in conjunction with Sasaki Associates and Antunovich Associates, and envisions 13575 new homes, 17500000 sf of retail and commercial space, a new high school, a 1500-slip marina, and 125 acres of new park lands to continue Daniel Burnham's vision for a public lakefront. The project is a certified LEED-Neighborhood Development and will incorporate innovative sustainable features such as a sophisticated stormwater management system to recharge the lake. The City of Chiago approved the Planned Development zoning and $98MM TIF for Phase I, a 76-acre parcel containing 800000 sf of retail, restaurants, office space and new residences. Construction is to commence upon the completion of the new Lake Shore Drive extension (US-41) in 2012 and will take 25-45 years to completely develop.
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Imagine - Chicago Lakeside Development - Video
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