"The property was just a mixture of uses that were incompatible," he tells GlobeSt.com. "The city is trying to acquire the land, and then select a developer for the project."
Nothing specific has been drawn up, he said, but the idea is to have commercial development along Michigan Avenue, about 400 units of residential housing, possibly condominiums or townhomes, and an entertainment venue at the intersection of Michigan and US 12.
The city has issued a request for proposals on how to develop the property.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
