Proposed $20 Billion Chicago Megaproject Gets Reprieve

The Real Deal reports that the One Central megadevelopment project in Chicago’s South Loop is not dead yet after the deadline to apply for a federal loan was extended from December 31 to September 30.

"One Central’s plans call for a $20 billion mixed-use complex, including a series of residential and office high-rises, and transit center connecting the Chicago Transit Authority’s el, Amtrak and Metra lines in a structure with a parking garage and retail space."

Governor J.B. Pritzker has signaled that he backs the One Central project, but it does not have the support of local officials and area residents. Mayor Lori Lightfoot has been critical of Landmark Development’s lobbying efforts. "South Loop residents have expressed concern over the project’s size and access to the lakefront, among other things."