Chicago to Redevelop Former Steel Site

The former US Steel South Works in South Chicago will be redeveloped, The New York Times reports.

The “ambitious” $4 billion plan will remake the 470-acre site with homes, a marina, commercial space and a school, the paper reports. It is the largest undeveloped parcel in the city.

You can learn more about the history of the site here; take a look at the before and after photos from the mill’s heyday (below).

This history site notes that 20,000 people once worked at the mill, which closed in 1992 after operating 110 years. It also notes that plans to redevelop the site have come and gone.

There is reason to be skeptical this plan will come to fruition. The Times notes, “the city is overwhelmed with unsold condos and housing units left over from the housing bubble. ‘We currently have years and years of oversupply,’ said James Kinney, the vice president for luxury sales at Baird & Warner real estate.”

Read more history about the site here and see some Flickr shots here.

-KG

1 Comment

Filed under Economic Development, Featured, Real Estate, The Housing Crisis, Urban Planning

One response to “Chicago to Redevelop Former Steel Site

  1. tonyg

    “470-acre site with homes, a marina, commercial space ” Love it! excuse me but didn’t anybody tell these folks about the glut of homes in the US market? How about building more “commerical space” when anybody with brains shops the INTERNET? Commerical space is code for shoping malls and she she development. Watch the tax breaks here and see who’s in line to collect them. My bet is it the “Goverment off our backs crowd” who only hate goverment when it ain’t their turn at the money tree.
    Connect the dots here. Go thru the other Great lakes cities and find similar. This is not different then what’s happening on the Buffalo waterfront today. Giant plan to build fake canals, and 500,000 sq ft of “commerical space”.

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