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820-Unit Eastgate Village Gets Panel's Blessing

CHICAGO-The $200-million townhouse, condominium and multifamily rental development will be built by Fogelson Development on 8.5 acres in the 2500 block of King Drive owned by Mercy Hospital and Medical Center.

By Mark Ruda | Updated on August 19, 2005

(To read more on the multifamily market, click here.)

CHICAGO-A $200-million, 820-unit townhouse, condominium and multifamily rental community will begin taking shape on the Near South Side next year, with completion expected in 2009 following a plan commission endorsement Thursday. Eastgate Village will be built on 8.5 acres in the 2500 block of King Drive, most of it used for parking, owned by Mercy Hospital and Medical Center.

“Fifteen years ago, we were in here working with you on a break-through project called Central Station,” developer Gerald W. Fogelson told the plan commission, whose Fogelson Development and Cleveland-based Forest City Enterprises continue building the massive redevelopment about a mile north. “We think this is another break-through project. …We’re hoping this will trigger more activity in an emerging area.”

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