Downtown Chicago: When Redevelopment Goes Sour

The city wants to build a megaproject on the site; developers are spooked by slowing economy.

1 minute read

June 23, 2001, 8:00 AM PDT

"Plans call for the city to turn over the property, perhaps for free, to others who appear likely to get something done. But a slowing economy has scared lenders away from the sort of megaproject the city wants for the land. Without a red-hot economy, Block 37 could remain vacant for several more years.The city pulled the plug after the land's owners scaled back plans that were approved in January. What was once a planned $250 million complex of stores, a hotel and high-end condominiums became in the revised version just a retail "box" anchored by a Lord & Taylor department store."

Thanks to Tom Collins

Read the full story: City Hall wants Block 37 back

Friday, June 22, 2001 in Chicago Sun-Times

Community / Economic Development Illinois

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban and Environmental Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban and Environmental Planner

Get top-rated, practical training for planners

Start Learning

Advertise with us

FREE Course: Walkable City 1: Why Walkability?

After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.