City Council approved the City's acquisition authority for 62 acres of vacant land on the Near South Side today.
Bounded by Roosevelt Road, Clark Street, 16th Street and the Chicago River, the site was last used as a rail yard. It is currently owned by General Mediterranean Holdings.
The site’s mixed-use redevelopment was one of the primary goals of the River South TIF district, which was established in 1997. In lieu of no development project moving forward, the Department of Planning and Development (DPD) intends to issue a request for proposals (RFP) to develop the site. The chosen respondent to the RFP will fund the acquisition costs.