$80M Development Planned for Booming Clybourn Corridor
Structured Development, the firm behind the 370k SF shopping and luxury apartment complex New City, has filed plans for an $80M mixed-use building a block west of the New City construction site. The project would include over 100k SF each of retail and office space at the corner of Kingsbury and Blackhawk streets. The four-story development, to be designed by RTKLAssociates, would join a roster of Structured sites already reshaping the North Side's retail corridor, and will require the City Council's rezoning approval because of added retail space, Crain's reports. The Corridor has drawn national retailers in recent years, including Apple, and REI, and the regional grocer Mariano's Fresh Market is slated to open in New City this fall. Structured principal Michael Drew told Crain's the new site will be an easy sell to other big-name retailers. Chicago real estate investor Michael Brown will lead the effort to purchase the 2.5-acre site, now owned by TV commercial producer Big Deahl Productions, and tear down the existing building. [Crain's]
