The Illinois Medical District Commission approved a 1.16 million sf, $300 million mixed-use project in Chicago’s Illinois Medical District. The decision is an important step for the IMD Gateway Center project, a scaled-up version of an earlier $162 million proposal by Higgins Development.
Gateway Center will sit on a 9.5-acre site of mostly surface parking lots. Current plans include a 10-story, 225-room hotel; a 16-story, 200-unit apartment building; a second apartment building, of 224,000 sf; 92,000 sf of retail space; an 88,000 sf medical office building; 100,000 sf of lab space; and a five-story parking garage.
Lead developer, Gateway Development Partners L.L.C., is composed of Higgins Development Partners, Thomas Samuels Enterprises, East Lake Management & Development Corp. and Isiah Real Estate L.L.C., which is headed by former NBA star Isiah Thomas.
A groundbreaking is expected to be held within a year. The developer will hold a 75-year ground lease expected to provide the IMDC with more than $1 million annually.
Related Stories
Codes and Standards | Nov 3, 2016
OSHA proposes safety standards changes to reduce employer costs
The changes include clarification on excavation standard and reporting job-related hearing loss.
Codes and Standards | Nov 2, 2016
New resources available to reduce plug loads using advanced power strips
A tenant education program can boost efficiency in office buildings.
Codes and Standards | Oct 26, 2016
Design industry lagging in meeting AIA 2030 Commitment goals, says AIA
Only 4% of projects have met the 70% energy savings target.
Codes and Standards | Oct 25, 2016
Concerns over megaquake in Oregon provoke debate over school building standards
According to advocates, communities should consider increased resiliency.
Codes and Standards | Oct 24, 2016
Building energy codes projected to save $126 billion in energy costs from 2010-2040
Commercial and residential structures are both included in the total.
Codes and Standards | Oct 24, 2016
Fall hazards, hazard communication lead 2016 OSHA top violations
The 2016 list bears a strong resemblance to the 2015 list.
Codes and Standards | Oct 21, 2016
Green Bond Guidelines for the Real Estate Sector updated
The market growth is a signal of future opportunities.
Codes and Standards | Oct 20, 2016
What top-ranked energy efficiency states are doing right on codes, utility mandates
Calif., and Mass., use aggressive targets to lead nation.
Codes and Standards | Oct 20, 2016
New cross-laminated timber fire tests back proponents of high-rise wood structures
'Demonstrating for the first time the feasibility of tall mass timber buildings in the U.S.’
Codes and Standards | Oct 14, 2016
ASCE issues first tsunami-safe building standards
The new standards will become part of international building code.
