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Developers to Move Forward on $3B South Loop Mega-Project

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The developer of a mega-project for the South Loop that would bring thousands of new residences to the Museum Campus is looking to move forward with the plan. According to Crain's, Chicago developer Gerald Fogelson and the Cleveland-based Forest City Enterprises are seeking a partner to help with kicking off the first phase of the $3 billion Gateway project (not to be confused with the Gateway apartments in the West Loop). The development will be an engineering feat and quite costly, as it will be built over the train tracks that sit adjacent to Soldier Field and the Field Museum. Fogelson tells Crain's that the massive 3,000 unit development will composed mostly of new condos — a wise move considering that thousands of new rentals are already on their way to the South Loop neighborhood. The plan also includes about 500 hotel rooms. While Fogelson wouldn't reveal exactly where the first phase parcel is located, he did tell Crain's that residents would have an "unobstructed east view and also an unobstructed north view."
·Developers seek partner to kick off $3 billion South Loop residential project [Crain's]
·Previous South Loop coverage [Curbed Chicago]