Tribune Plans Large Mixed-Use Development for North Branch Corridor
Tribune Media has announced plans for the 30 acres of land it owns between Chicago and Grand avenues. The swatch of land in the North Branch Industrial Corridor will become a 9 million-square-foot, mixed-use development: the River District, according to Crain’s.
This new development is designed to integrate with the Tribune’s other nearby project: 700 at The River District.
Tribune Media envisions the River District featuring 18 buildings including office and residential space. The development would also leave a generous amount of space for public use.
The company is in the process of requesting rezoning at 777 W. Chicago Ave., according to the report. Once granted, the area will be cleared for both office and residential development.
"Our goal is to create the same in-demand dynamic neighborhood seen in tech centers such as San Francisco and Seattle," Murray McQueen, the head of Tribune Media’s real estate division, said in the report.
This push to imitate major tech centers is particularly interesting, given Chicago’s bid to land Amazon’s HQ2 campus.
The project leaves some unanswered questions. It is unclear what will become of the Tribune’s Freedom Center, located at 777 W. Chicago Ave. The development also has yet to reveal a total price tag, according to the report.