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Update on River Point

Developer Hines Interests is keeping good on a promise to begin work by year-end on a 45-story office tower at Lake and Canal in the Fulton River District. As Hines VP Greg Van Schaack told the Sun-Times: "We're waiting for permits and things. We'll be selecting a general contractor next week." Although the official groundbreaking won't begin until late 2013, work is expected to get underway by year-end on phase one of the project, which involves decking over the railroad tracks that course through the vacant riverfront site. Designed by Pickard Chilton, the $400 million building, funded in part by $30 million in TIF funds, will be completed by 2016. [Sun-Times, previously]