The developer behind a proposal to build a massive transit-oriented development on top of the Metra tracks across from Soldier Field claims he’s making headway with securing support of public officials who would need to sign off on pricey infrastructure funding.
Bob Dunn, president of Landmark Development, recently told Crain’s that he has made “tremendous progress” on plans for the development, which would include thousands of residential units and be anchored by a large state-subsidized transit center.
Metra CEO Jim Derwinski said he and his commuter rail agency are working on a development pact for the $20 billion project. One Central made a bid to incorporate a casino into the site as Chicago’s contest for the city’s first casino played out, and ultimately was passed over for Bally’s River West site. Derwinski has reiterated his support since the city’s casino selection.
Plans for One Central call for 9,000 residential units and 11 million square feet of office and retail space to be built on a platform above the tracks that run along U.S. Highway 41. Dunn has also offered to pay to rebuild Metra’s century-old maintenance and switching yard at 18th Street.
“Conceptually, we’re there,” Derwinski told the outlet. “But things need to be done. Details need to be resolved.”
The project is still a long way from becoming a reality. Dunn isn’t starting discussions with the city about proposed zoning for the site until some time next year. He still has no commitment from the state to contribute $3.8 billion in financing needed for the transit center, at least until a feasibility study that’s in progress is finished.
At the request of the Chicago Transit Authority, the American Public Transportation Association reviewed the project, which calls for a spur line off its Green Line that will pass near the Metra Electric tracks below the rest of the development.
“As planned, the project could be GREAT,” APTA’s report read. “At this stage, however, many questions remain that should be answered in the next phase of work before CTA should fully commit to and take on the responsibility for a complex system extension.”
APTA’s main concern is whether CTA and Pace will have the capacity to handle an additional 180,000 people boarding trains on the L system that would be generated by the project.
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