A 14-acre plot of land across the river from the Old Main Post office is about to be turned into a brand-new neighborhood, filled with 3,700 residential units, a public riverwalk and 16,500 square feet of retail space. The Riverline development, which will celebrate a ceremonial groundbreaking this afternoon, consists of eight new high-rise buildings that will fill land that once hosted Chicago's Grand Central Rail Station before it was demolished in 1971.
CMK and Lend Lease acquired the plot of land last year, teaming up with Chicago architectural design firm Perkins+Will to develop a riverfront community that will feature 3.5 acres of green space in addition to some striking new architecture. The entire project is expected to take eight to 10 years to complete, and its design is expected to evolve as work progresses, though public features like a three-acre park and riverwalk are set in stone.
While the new development will doubtlessly create thousands of new jobs during its construction, Riverline won't be providing any affordable housing for Chicago's low-income residents. According to DNAinfo, the development is contributing $8.7 million to the city's affordable housing fund instead of including affordable housing units in its new buildings.
The riverfront development conveniently falls in line with Mayor Rahm Emanuel's newfound reverence for the city's waterways—he released a statement about the Riverline, saying, "Throughout Chicago's history, our rivers have strengthened our city's industries. Today, our rivers can strengthen our city's communities. That is what this project is about.”
You can take a look at some renderings of the Riverline development below—just try not to think about how expensive it will be to live in one of those fancy new buildings.
Courtesy Perkins+Will
Courtesy Perkins+Will
Courtesy Perkins+Will
Courtesy Perkins+Will
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