Fulton Market Could Make Chicago A Top Global Player — If The City Addresses Its Ancient Infrastructure As the epicenter of Chicago's life sciences industry, its live-work-play exemplar and the hub of new Class-A development, the Fulton Market District continues to hold down the fort as the city’s hottest submarket. Amid struggles to retain talent and leased square footage in Chicago’s downtown corridor, Fulton Market was the city’s only neighborhood where office availability dropped last year. As developers await zoning change requests and approvals, specifically for development along the area's northwest quadrant, excitement is buzzing. Yet infrastructure concerns loom in the meatpacking district-turned-restaurant and technology mecca. And panelists at Bisnow’s The City of Fulton Market Event July 13 said activity in the innovation district can stretch far and wide beyond the city’s West Loop, but only if the city is willing to make badly needed upgrades.
“Chicago has untapped potential for being a global city, not just a U.S. or an Illinois city,” said Melvin Wesley, first deputy commissioner of planning and development for the city of Chicago. “I think that Fulton Market is in its metamorphosis. There’s so much that, as a newcomer, I came to understand.… Read the full story here. |