Chicago

Curbed Chicago: Developers Announce Plan for Chicago’s Vacant US Steel South Works Site

If successful, the project will add as many as 12,000 homes to the city’s south side.

READS
LIKE
TWEET
SHARE
PLUS
EMAIL

US Steel’s 430-acre property on Chicago’s far south side has been vacant for years. But now, there’s a new housing project finally taking over the area.

The project—called Chicago 8080 Lakeshore Masterplan—is a joint venture between Barcelona Housing Systems and WELink that will build as many as 12,000 homes. The final price of the sale hasn’t been disclosed, but Crain’s estimates that the deal could be worth anywhere from $55 to $80 million. It’s not the first deal the vacant site has experienced—other developers have failed to get their plans off the ground.

The plan for construction is to develop 30 urban blocks modeled after Barcelona’s mega-block approach to city planning that is geared towards pedestrians. Curbed Chicago notes that the developer plans to implement the project in four different phases that will consist of 3,000 homes each. It’s not a small project—construction is expected to last for years, with completion costs likely passing the $1 billion mark.

To read the original article, click here.

Photo courtesy of Barcelona Housing Systems.