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Chicagoland Chamber Gives Thumbs-Up to Lakefront Mega-Project
Landmark Development’s proposed One Central transit hub and mixed-use development would generate $120 billion in tax and fee revenues over the next 40 years, according to a study commissioned by the Chicagoland Chamber of Commerce and conducted by AECOM. That compares with $23,000 in tax annual revenue the proposed site generates at present.
The study also determined that the lakefront mega-project would support up to 210,000 direct and indirect permanent jobs once it’s completed.
“In order for our business community to attract new talent and new job creators to the area, public transit options must keep up with growing demands,” said Jack Lavin, the chamber’s president and CEO. “The transit-forward focus and regional benefits of One Central really drove my excitement and interest around this development.”
The project was discussed publicly for the first time last month at a forum hosted by Ald. Pat Dowell, who has requested extensive changes.
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