KING PROVIDES UPDATES ON REDEVELOPMENT PLANS

A rendering showing what Fairpoint Development envisions the redevelopment of the former site of Michael Reese Hospital will look like after its two phase plan has been completed. Rendering courtesy of Fairpoint Development.
A rendering showing what Fairpoint Development envisions the redevelopment of the former site of Michael Reese Hospital will look like after its two phase plan has been completed. Rendering courtesy of Fairpoint Development.

King provides updates on redevelopment plans

BY TIA CAROL JONES

Alderman Sophia King updated residents on the redevelopment plans for the former site of Michael Reese Hospital.

“I want to acknowledge the community led process and the Michael Reese Advisory Committee. They’ve been working very hard with me and advocating for the community,” King said. “We’ve had a lot of engagement with the larger community really talking about what the vision is.”

Cindy Chan Roubik, assistant commissioner of the city of Chicago’s department of planning and development, said there are three reviews and approvals that are needed. Those include the planned development review and approval, the finance application review and approval, as well the land sale and redevelopment agreement.

“We’re working toward a follow-up community meeting in the fall before taking the proposal to a Chicago planning commission meeting. And then, the last entitlement step is the city council vote,” she said.

Chan Roubik said the city is also working towards remediation of the northern portion of the site between 26th and 27th Streets. She said in the early 1900s, there was a radium processing facility at that location. The city is looking for a remediation contractor to remove the contaminated soil.

According to Dawveed Scully, senior urban designer at SOM, the first phase of the project will take 4 ½ to 5 years to complete, from 2021 to 2026. It will include the ARC Innovation Center, Singer Pavilion, senior housing and retail. It will be an estimated 1 million square feet. The second phase of the project will take place from 2025-2035 and include life science and healthcare, commercial office spaces, retail, housing, mixed-use and park space. It will be an estimated 7.2 million square feet.

“In total, we’re seeing the two phases coming together in the Michael Reese site being 8.2 million sq. ft. of development that are mixed-use development, as well as 8.8 acres of open space, which includes parks that you see, as well as a series of pedestrian paths and greenways that connect and weave throughout the site,” Scully said. “We really want to make this a porous and connected development through and through.”

Scott Goodman, of Fairpoint Development, is part of the Global Research Innovation and Tourism (GRIT) Development Team. He said the site is a prime piece of land in a fantastic neighborhood.

“This site has been sitting vacant and just ready for development for so many years,” he said. “We can’t wait to be part of its rejuvenation.”

It also was announced that ARC Innovation, the innovation arm of Sheba Medical Center, would be an anchor tenant for the site. Ken Bahk, PhD, of Kaleidoscope Health Ventures, said the vision is to build a sustainable health and wellness community and a world class health innovation cluster, which would include talent and workforce development.

The Innovation ARC is well known for fast tracking technologies developed by entrepreneurs and innovators and for bringing new companies to the marketplace, Bahk said. “And, we’re really excited they’re bringing their innovation arm to Chicago and will build their first U.S arc at this historic site,” he said.

Another virtual meeting is scheduled for Wednesday, May 13, at 6 p.m.

For more information, visit https://king4thward.com.

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