May 2, 2019 Comments Off on One Central Developer Seeks Public-Private Agreement on Project’s Transit Hub Views: 323 Chicago News, Top Chicago

One Central Developer Seeks Public-Private Agreement on Project’s Transit Hub

The developer behind the proposed One Central, a lakefront mega-project near Soldier Field, is seeking $3.8 billion in state funds to build a transit center that would be the mixed-use development’s hub. Although Landmark Development’s Robert Dunn hasn’t lined up legislative sponsors for his plan, the Illinois General Assembly is expected to hold a hearing on the proposal next week.

“We have the opportunity to create a world-class transit and mobility hub that connects Chicago’s most significant civic and cultural attractions to transit, as well as the types of amenities that will strengthen the Chicago Lakefront as a global destination for visitors, residents, and workers,” said Dunn.

Under Dunn’s proposal, Landmark and its investors would assume upfront costs of building the transit center. Subsequently, the state would acquire ownership of the transit center, using a small portion of the $57.1 billion of tax revenues the project is expected to generate.

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