Related launches first phase of The 78 megaproject

An extension of Wells Street through the 62-acre site in the South Loop is a key aspect of the $7B project

TRD CHICAGO /
Jun.June 25, 2019 12:00 PM
Related Midwest President Curt Bailey and a map of Wells-Wentworth Connector (Credit: City of Chicago)

Related Midwest President Curt Bailey and a map of Wells-Wentworth Connector (Credit: City of Chicago)

Related Midwest officially launched the first phase of The 78 mega-development in the South Loop this week, as crews began work on a long-awaited road project.

Work started on an extension of Wells Street through the 62-acre project site, the final phase in the so-called Wells-Wentworth Connector to create a direct route from Downtown to Chinatown, according to Curbed.

The road project is one of several major infrastructure projects planned for The 78, including a new CTA Red Line station, moving of Metra tracks and more. Related is fronting the costs of the work, but will be reimbursed through a $1.1 billion tax-increment financing plan approved by the city in April.

Overall, the neighborhood-sized development could include 13 million square feet of new office, hotel and residential space, and as many as 10,000 residential units.

The Downtown-Chinatown link has been discussed for more than a century, but didn’t officially begin until 2016 with road work in Chinatown. Related expects to complete its portion of the link by the end of next year.

[Curbed] — John O’Brien

 

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