Children’s Memorial Redevelopment Officially Underway
After five and a half years and more than 60 community meetings, we are proud to announce the closing of our purchase of the former Children's Memorial Hospital site in Chicago’s Lincoln Park neighborhood. This adventure led us to establish strong partnerships with co-developer Hines and Henley Holding Company, an equity financier and wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
"We are delighted to be associated with two organizations that are committed to quality and performance at the highest level. Together with our partners, we intend to create a project that the residents of Lincoln Park and Chicago can visit with pride." - Dan McCaffery
The six-acre project site is located at the intersection of Lincoln Avenue, Fullerton Parkway and Halsted Street. Demolition is scheduled to begin next month and construction of the new development will start during the first quarter of 2017 with completion scheduled during the first quarter of 2019.
This $300 million redevelopment was approved by the Chicago City Council in 2014 and includes two 19-story luxury apartment buildings with a total of 540 units, approximately 160,000 square feet of commercial space, and up to 60 condo residences. We are also completing the sale of a portion of the land to a senior housing developer to build 155 senior and assisted living units. As a major feature, the plan contains 57,000 square feet of accessible open space including a landscaped central plaza, memorial garden and children's play area.
Additionally, the development will include substantial investments in public infrastructure, facilitating vehicular and bicycle traffic circulation, and improving the pedestrian experience. The project will target LEED® Gold certification.
Designed by Skidmore, Owings & Merrill and Antunovich Associates, the project will add residential and retail vibrancy to this unique and significant site in the center of Lincoln Park.
Sign up to receive news and project updates at the development website: http://mi-cmh.com/