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SE Side Industrial Project Bets on Large Labor Pool
NorthPoint Development is betting on access to a large labor pool as a point of differentiation as it prepares to redevelop the former Republic Steel site on the city’s Southeast Side.
The plan to turn a former Chicago factory into a 2.3-million-square-foot industrial park runs counter to the norm of building such a large-scale facility in the suburbs, Crain’s Chicago Business reported.
“The reality is that market forces are at a point where development of some of these sites, we believe, makes sense,” NorthPoint VP Tom George told Crain’s. “I will admit that we’re early . . . but we believe that the market is there, that the search for employees and employable people is reaching an all-time high.”
The 196-acre site would be the largest industrial development in Chicago since NorthPoint’s neighboring 1.6-million-square-foot Ford supplier park (pictured) opened more than 15 years ago, Crain’s reported.
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