CHICAGO—The decision of the University of Illinois to locate its $1.2 billion Discovery Partners Institute at Related Midwest's new The 78 project on the Near South Side (see below) is a good example of how our concept of mixed-use is changing. It used to be that developers would throw some retail, restaurants and perhaps office space into a residential community and call it mixed-use. Increasingly, however, developers have gotten more elaborate, stacking many uses into one huge community, such as Related's Hudson Yards in New York. That way, communities become true destinations for many people, each use fortifying the others. Hudson Yards will remake New York's West Side, and while Related's project in Chicago is not quite on that scale, it sounds like it has the potential to play a similar role for this long-ignored portion of the city.

BY THE NUMBERS

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
NOT FOR REPRINT

© 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.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

brianjrogal

Just another ALM site