Posted Mar 12, 2020, 1:19 PM
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Registered User
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Join Date: Oct 2014
Location: Long Island City, NY
Posts: 1,016
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Medical research facility part of $6 Billion plan for former Michael Reese site
Courtesy of the Chicago Tribune
Quote:
A major Israeli hospital said it plans to open a high-tech medical research facility at the former Michael Reese Hospital site in Bronzeville.
The ARC Innovation Center, led by Israel’s Sheba Medical Center, is envisioned as the first of many life sciences tenants in a multibillion-dollar mixed-use development near McCormick Place. It has agreed to lease 20% to 25% of the space within a 500,000-square-foot building the project’s developers hope to begin constructing next year near 31st Street and Cottage Grove Avenue.
Medical research would be a key aspect of a “healthy neighborhood of the future,” which could grow to 100 acres or more through a series of land acquisitions and could cost $6 billion to $7 billion to develop over the course of about 15 years, said Scott Goodman, founding principal of Farpoint Development.
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