Amtrak selected a team led by Riverside Investment & Development to develop commercial elements of the Chicago Union Station, according to a statement from the mayor’s office.
“This agreement will generate thousands of jobs and ensure a more vibrant future for Union Station and the entire city of Chicago,” Mayor Emanuel said. “The thorough planning process with Amtrak and the many partners involved in this historic endeavor will ensure this plan generates the greatest economic impact and benefits the entire region and nation.”
The initial conceptual design proposed by Riverside, in conjunction with co-developer and co-venture partner Convexity Properties, includes three phases, the mayor’s office said. The project will be completed in about six years. Key priorities include improved street entrances and pedestrian traffic flow entering and leaving Union Station as well as pedestrian-friendly landscaping and open spaces.
The proposed commercial development will be about 3.1 million square feet, according to the mayor. The developer expects to create 7,500 construction jobs as well as 7,000 to 8,000 permanent jobs.
Phase One of the project includes 110,000 square feet of retail space with a food hall, renovations of the Headhouse and Great Hall, 100,000 square feet of office space, a new hotel proposed above the Great Hall and 12-story residential towers above the Headhouse, the mayor’s office said.
Next Phase Two will develop two new 750,000 square foot office towers with ground floor retail and about 800 parking spaces, according to the mayor’s office. Ample publicly-accessible green spaces including terraces and plazas including above the current Union Station Transit Center.
Then Phase Three will involve completing 500,000 square foot retail and residential tower over active rail lines with open space and plazas at street level, the mayor’s office said.