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Riverside’s Union Station Plans About to Go Public
Riverside Investment & Development is reportedly about to go public with its plans to redevelop Chicago’s Union station and nearby Amtrak-owned property. The quasi-public passenger rail company named Riverside master developer on the project 13 months ago.
Crain’s Chicago Business reported that Riverside and a partner, Convexity Properties, plan to develop 404 apartments and 330 hotel rooms, as well as an office tower. According to the general outline Amtrak presented in announcing Riverside’s designation in May 2017, the project would be developed in three phases at a cost of about $1 billion, and would total 3.1 million square feet at final build-out.
“This will be a transformative project for the West Loop and the City,” Riverside CEO John O’Donnell said when the designation was announced. The development team will present its plans at a public meeting to be hosted by Alderman Brendan Reilly on June 25 at Union Station.
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