Page 8 - Farpoint Development News Today : Breaking News, Live Updates & Top Stories | Vimarsana

UpdatedFri, Jul 23, 2021 at 9:49 am CT Replies(4) The first phase of the redevelopment plan includes the 500,00-square-foot ARC Innovation Center anchored by Israel-based Sheba Medical Center. (SOM) CHICAGO — The City Council approved the sale of the former site of Michael Reese Hospital to a developer as part of a $3.8 billion revitalization project called Bronzeville Lakefront. The 48.6-acre property was purchased by the city in 2009 for $91 million amid its unsuccessful bid for the 2016 Olympic Games. Since then, it has been floated as a potential site for a Chicago casino or Amazon hea...

A Canadian manufacturer last week chose the Chicago region to host its first U.S. facility. Lion Electric Co. will manufacture its all-electric medium- and heavy-duty urban vehicles at a 906K SF facility under construction at 3835 Youngs Road in southwest suburban Joliet. Gov. J.B. Pritzker, along with many other state and municipal officials, joined the company’s leaders on Friday to announce the $70M project. “The new Joliet facility will put Illinois at the forefront of a national movement to transition to zero-emission vehicle use, advancing our own goals of putting 1 million of thes...

Goosehead Insurance inks nearly 18,000-square-foot lease in Rosemont May 10, 2021 Colliers International Chicago’s Jonathon Connor and Jason Simon represented a joint venture between Farpoint Development and Greco/DeRosa Investment Group in a 17,887-square-foot lease at 6300 N. River Rd. in Rosemont, IL, to Goosehead Insurance. The Dallas based insurance company more than triples its space with the lease.  6300 N. River Rd. is a 130,000-square-foot, seven story boutique loft office redevelopment that brings an urban, modern feel to the suburbs. It offers tenant...

Skidmore, Owings & Merrill The city wants to sell the former Michael Reese Hospital property to developers for at least $96.9 million, but taxpayer costs for an environmental cleanup and public works needed for the multiyear project could cost almost as much. The sale, expected to be voted on Tuesday by the Community Development Commission, includes a pledge to repay developers up to $60 million to extend city streets into the 48-acre site near 31 st Street and Lake Park Avenue. A report prepared for the commission said the city will seek federal infrastructure money to help pay for the work....

Courtesy of Skidmore, Owings & Merrill (SOM) SOM and TnS are working with lead developer McLaurin Development Partners and Farpoint Development. Dawveed Scully, Urban Planning Associate Director at SOM, noted that, "We envision a dynamic mix of community spaces, accessible to all local residents and connected to the surrounding neighborhoods. With flexible spaces that can be used year-round, our plan creates an ecosystem that cultivates upward mobility anchored by entrepreneurialism." Courtesy of Skidmore, Owings & Merrill (SOM) As the team explains, Englewood Connect is designed to "elevate...