The Chicago Plan Commission has approved a master planned development zoning application for the redevelopment of the former Michael Reese Hospital site in Bronzeville.
The plan was filed by a team of local developers known as global research innovation & tourism (GRIT) which includes Farpoint Development, Loop Capital Management, McLaurin Development Partners, Draper & Kramer, Chicago Neighborhood Initiatives and Bronzeville Community Development Partnership.
The $3.8 billion proposal would redevelop the former Michael Reese Hospital site at 29th St. and Ellis Ave. into more than 7 million sq. ft. of commercial, institutional, and mixed-income housing, and create more than 48,000 permanent and temporary jobs.
The $600-million first phase would revitalize the southern end of the property with a Chicago Arc Innovation Building anchored by Israel’s Sheba Medical Center; a Bronzeville welcome center; senior housing; and a new park at 31st St. The Singer Pavilion, the only remaining building from the Reese complex, would be repurposed in part to showcase the history of the hospital.
The $3-billion second phase would revitalize the northern end of the site with medical facilities, retail space, offices, residential buildings, a data center and open spaces.
The plan will now go before the zoning committee for consideration. Terms of the proposed land sale will be considered separately by City Council.
