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
Cultural Facilities | Jun 10, 2015
Artists turn oil tankers into architecture
Four Dutch artists propose transforming tankers into monuments with mixed-use space.
Office Buildings | Jun 9, 2015
Bjarke Ingels unveils stepped design for final WTC tower
The towering "staircase" will rise from St. Paul’s chapel to the skyline, leaning against One World Trade Center.
Office Buildings | Jun 9, 2015
Hines planning $300 million office tower for Denver skyline
Designed by Pickard Chilton, the 640,000-sf tower is geared for large-scale tenants, with features like floor-to-ceiling glass, a 5,000-sf fitness center, a tenant lounge, and a series of outdoor terraces.
Architects | Jun 3, 2015
LEGO: An introduction to design
LEGO has changed a lot over the years, but has that been a good thing for encouraging creativity?
Cultural Facilities | Jun 2, 2015
Snøhetta and Dialog to revitalize Willamette Falls area in Oregon
As part of the plan, an abandoned paper mill will be repurposed, while landscaping and running trails will be added.
Office Buildings | Jun 1, 2015
SHoP Architects unveils dual-glass-box scheme for Uber HQ
The plan involves two glass buildings connected with criss-crossing bridges.
Contractors | Jun 1, 2015
Nonresidential construction spending surges in April
Nonresidential construction is up by a solid 8.8% over the past year, consistent with ABC's forecast of high single-digit growth.
Office Buildings | Jun 1, 2015
Can you make a new building as cool as a warehouse?
Just as we looked at that boarded up warehouse and thought it could be something other, office towers can be reborn, writes CannonDesign's Robert Benson.
Fire and Life Safety | May 27, 2015
7 bold applications and innovations for fire and life safety
BD+C’s roundup features colorful sprinklers for offices, hotels, museums; a fire-rated curtain wall at a transit hub in Manhattan; a combination CO/smoke detector; and more.
BIM and Information Technology | May 27, 2015
4 projects honored with AIA TAP Innovation Awards for excellence in BIM and project delivery
Morphosis Architects' Emerson College building in Los Angeles and the University of Delaware’s ISE Lab are among the projects honored by AIA for their use of BIM/VDC tools.
