New City LLC, a joint venture of Chicago-based Structured Development and Maxel New City, LLC, a subsidiary of Bucksbaum Retail Properties, LLC, have closed on the purchase of an 8.2 acre site located at Halsted Street and Clybourn Avenue in Chicago’s North/Clybourn retail district. The site is the location of New City, a mixed-use development that will feature 370,000-sf of retail space and 280 residential rental units.
The closing is the next step in bringing the $230 million New City mixed-use retail and residential development to fruition. New City received approval through the Planned Development process in 2008 and now expects to break ground later this year with an anticipated opening in 2014.
One retailer already secured for the New City development is Milwaukee-based Roundy’s Supermarket’s Inc. Roundy’s will operate an 80,000-sf Mariano’s Fresh Market at New City. BD+C
Related Stories
Architects | Jun 15, 2016
Design Thinking makes its way into Yale School of Management
The school will introduce Design Observer co-founders Jessica Helfand and Michael Bierut as faculty.
Retail Centers | Jun 14, 2016
Zaha Hadid and Gensler among finalists for Sunset Strip billboard design competition
The concepts are curvy, sleek, and multidimensional, and feature sharp digital displays.
Movers+Shapers | Jun 14, 2016
VERTICAL INTEGRATOR: How Brooklyn’s Alloy LLC evolved from an architecture firm into a full-fledged development company
Led by an ambitious President and a CEO with deep pockets, Alloy LLC's six entities control the entire development process: real estate development, design, construction, brokerage, property management, and community development.
Office Buildings | Jun 14, 2016
Let's not forget introverts when it comes to workplace design
Recent design trends favor extroverts who enjoy collaboration. HDR's Lynn Mignola says that designers need to accommodate introverts, people who recharge with solitude, as well.
Building Team | Jun 13, 2016
BD+C launches Women in Design+Construction Conference
Inaugural 2.5-day event will convene 125+ leading AEC women in Dana Point, Calif., November 9-11, for professional development, networking, and career training.
University Buildings | Jun 9, 2016
Designing for interdisciplinary communication in university buildings
Bringing people together remains the main objective when designing academic projects. SRG Design Principal Kent Duffy encourages interaction and discovery with a variety of approaches.
BIM and Information Technology | Jun 7, 2016
Conquer computational design: 5 tips for starting your journey
Data-driven design expert Nathan Miller offers helpful advice for getting your firm ready to use CD tools and concepts.
BIM and Information Technology | Jun 7, 2016
6 ways smart AEC firms are using computational design methods
Rapid prototyping, custom plug-ins, and data dashboards are among the common applications for computational design.
Building Team | Jun 2, 2016
Managing risk when building in challenging locations
AEC firms recognize the upsides of exploring new, emerging markets. Whitehorn Financial's Steve Whitehorn offers four principles that can help guide you to success.
Airports | Jun 1, 2016
LaGuardia Airport’s massive redevelopment begins construction
The development consortium has secured financing for the $4 billion project, and signed an operating lease through 2050.