CHICAGO, IL – Chicago-based Structured Development is pleased to announce it received awards from four area organizations for NEWCITY, the firm’s $275 million mixed-used development in Chicago’s Lincoln Park neighborhood. The honors include a Merit Award from the Chicago Building Congress (CBC) for “New Construction Chicago - Over $55 Million”; a Good Neighbor Award from the Chicago Association of REALTORS® (C.A.R.); a Vision Award from the Urban Land Institute Chicago (ULI Chicago) in the category of “Mixed-Use Development”; and a Green Ribbon Award from Friends of the Chicago River.
“These four awards underscore the multifaceted success of NEWCITY,” said J. Michael Drew, founding principal of Structured Development. “It has been a privilege to be in the company of so many worthy nominees and accept these awards on behalf NEWCITY LLC and the entire Structured team.”
The CBC Merit Awards honor projects based on distinctive, functional or innovative design; quality of construction; impact of the project upon the community; and safety record. C.A.R.’s Good Neighbor Awards recognize newly developed and rehabbed properties that have contributed to their local economies and increased civic pride. The ULI Chicago Vision Awards highlight creative development practices; inventive partnerships or sharing of resources; imaginative problem solving; or visionary ideas that have contributed to the growth of vibrant communities. Friends’ Chicago River Blue Awards celebrate developments along the river and throughout the watershed that exemplify sustainable design for people, wildlife and clean water.
“NEWCITY has become everything we envisioned it would be when we began planning the project a decade ago,” said Drew. “These awards are a testament to the strength and dedication of our team and development partners over the past decade. Thanks to their tenacity, we were able to see this project through a recession that brought commercial development to a standstill, establishing NEWCITY as Chicago’s premier live-work-play destination.”
Located at the intersection of Clybourn Avenue and Halsted Street, in the heart of the Clybourn Corridor, NEWCITY was built on an 8.5-acre site that formerly housed the New City YMCA, which served the Cabrini-Green public housing towers and surrounding neighborhood. Completed in 2016, the development includes more than 390,000 square feet of retail/commercial space, as well as a 19-story, 199-unit luxury rental tower and nearly 2 acres of landscaped open space, including a public plaza that will host live concerts and other community events throughout the summer.
Easily accessible via the North/Clybourn Red Line station, located a half-block northwest of the property, NEWCITY is home to a variety of shops, restaurants and entertainment venues, including a 14-screen ArcLight Cinemas movie theater and a 16-lane Kings Bowl bowling alley. The development also includes a two-level, 83,678-square-foot Mariano's grocery store.
“It’s humbling to see a new ‘city within a city’ come to life after years of careful planning and development,” said Drew. “This project wouldn’t have been possible without support from city officials, including Ald. Walter Burnett Jr., and community stakeholders who were instrumental in taking NEWCITY from vision to reality.”
For more information about Structured Development, visit www.strdev.com.
About Structured Development: Structured Development is a Chicago-based real estate development company formed in January 2002 to pursue unique real estate development opportunities. Leveraging its vast experience in the real estate market, Structured Development engages in complex real estate transactions that include a variety of property types including commercial/retail, historic, industrial and mixed-use.