While work to fence-off and grade the future site of the multi-phase Riverline mega-development back in March was initially interpreted as a sign of imminent construction, little since has occurred at the vacant South Loop parcel. However, thanks to a recent update from Sloopin, the lack activity is no longer a source of head-scratching and wild speculation. According to an email shared from a neighboring building, it appears that the project is facing a temporary delay due to a hold-up in the city of Chicago’s bond process.
An important requisite to installing the project’s necessary infrastructure, this process is expected to be resolved so work can hopefully begin by the first or second quarter of 2017. According to the email, the city hopes to push forward with the construction of the Riverline’s first high-rise in the meantime. Currently known as Building D, the initial tower is expected to rise 29 stories and contain roughly 450 apartments and could break ground as early as mid September.
Designed by Perkins+Will, Riverline is a joint venture between developer CMK Companies and Lend Lease. When completed (following an expected ten year construction timeline), the massive project will contain a whopping 2,700 units spread across multiple high-rises, mid-rises, and new townhomes as well as new retail and a riverfront nature walk. Riverline will eventually be joined by Related Midwest’s plans to redevelop an even larger vacant riverfront plot to the immediate south.
- Riverline Project Slightly Delayed Due to Bond Process with City [Sloopin]
- Crews to Ready Massive Multi-Phase Riverline Site for Construction [Curbed Chicago]
- Long Vacant South Loop Site Has 10 Year Plan, $1.5B Price Tag [Curbed Chicago]
- Previous South Loop coverage [Curbed Chicago]