The new neighborhood, titled Foundry Park, will one day host 3,700 residences.
In a few years, Chicago will gain a new neighborhood: Developers have started building a $3 billion megadevelopment, titled Foundry Park, only 10 months after the Chicago Plan Commission first approved the plan in January. The first stage of the plan includes creating 725 residential units, public green space and retail.
“Plans call for more than 3,700 residences, with 20% of them affordable, and 970,000 square feet of office, retail and hotel space. Public parks, riverfront improvements and an extension of the 606 (the Bloomingdale Trail) also are planned,” Abby Miller writes for the Chicago Sun Times.
The 53 acres of currently-empty land will host a variety of building heights, some about 40 stories. Developers plan to use traditional limestone and brick to build the new buildings.
Read the full story: Foundry Park developers break ground on $3 billion project
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