RIVERSIDE PARK
Riverside Park is a mixed-use development of a 62-acre area located less than 3/4-mile of the central business district of Chicago, Illinois.
Retail Component: The retail component of Riverside Park will add amenities for service and entertainment on behalf of the existing and growing residential population in the South Loop and surrounding neighborhoods, including a beautifully designed river walk and park system, much needed retail and restaurant establishments including lifestyle, convenience, and destination shopping. The retail component will include approximately 600,000 sq. ft. of retail as follows: about 250,000 sq. ft. of in-line life-style retail, and 300,000 sq. ft. of retail at the end of the in-line retail housing one or more major anchors, all built over a parking garage; and 50,000 sq. ft. of retail along the river and in the base of some of the high-rise buildings on the site. The retail on the river will focus on restaurants, clubs, and small trendy shops, while the retail over the parking garage will include more national tenants and larger users. There will be over 3,000 parking spaces in a garage below the life-style retail and above the river retail reflecting a parking ratio of approximately 3.2 spaces per 1,000 sq. ft. of in-line retail, and 5 spaces per 1,000 sq. ft. for the larger anchors.
Residential Component: The current proposed site plan includes the potential to add over 4,100 residential units to the South Loop and will offer several different housing options in various price ranges. The housing types include approximately 300 townhouses, 600 living units above the retail portion of the property, and up to nine high-rises and seven mid-rises for condominium, new loft, or rental development. The residential product offers opportunities to develop luxury high-rises with spectacular views in four directions, luxury townhouses on the river and in a residential urban environment, and new loft product and apartments at lower price points along the river and in the mid-rise buildings.
The scope of work for Phase I consists of two components: 1) All related civil infrastructure for the entire project including roads, utilities, bridges, the riverwalk, grand stairs, landscape and hardscape, parks, and miscellaneous site structures. Also included is the foundation for the big box retail; and 2) Vertical construction for the mixed-use retail/residential including five buildings, three levels of parking for 3,000 vehicles located under the north half of the site, and the retail plinth. The buildings will vary in height from seven to nine stories. The lower portions of the buildings will be retail, while the upper floors will be residential (600 units).
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