Developers reveal $6b redevelopment plan in Chicago

A team led by Farpoint Development has plans for a $6 billion redevelopment project for the former Michael Reese Hospital site in Bronzeville, South Side, Chicago, Ill.

The designs were presented to the Chicago City Council and could be approved later this month.

Included in the 15 million-square-foot site plans are:

Market-rate housing, with 20 percent set aside for affordable housing A community center of up to 40,000 square feet A commitment of up to $25 million for education, with 20 internships and 75 apprenticeships per year A 31st Street Metra station to replace the 27th Street station The use of the Singer Pavilion — the only remaining Michael Reese Hospital facility — into a “showcase” of the Black history of Bronzeville and the history of the hospital

The two-phase plan is slated for completion in 2035. Bronzeville Lakefront’s first phase would include 1 million square feet of new buildi