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Metra Reaches MOU with Developer Over Proposed One Central Mega-Project
Developers of the proposed $20-billion One Central complex on railroad air rights west of Soldier Field received a show of support from a public agency that stands to gain from the project, Crain’s Chicago Business reported.
In an emailed statement, Metra confirmed it agreed to a memorandum of understanding with Landmark Development on how Landmark would rebuild–at its expense–the Metra rail yard and maintenance facility that would be decked over for the project.
“Metra views this proposal as a golden opportunity to fund and build a long-overdue and much-needed improvement to its yard and facilities,” the agency said.
Crain’s reported that Metra’s statement was the first significant indication that local transit officials see value in Landmark’s proposal, which is dependent on receiving $6.5 billion in state financing to build a huge parking lot and transportation center, to be used by both Metra and the Chicago Transit Authority.
- ◦Development
