The non-profit development arm of Park National Bank hopes to build as many as 3,000 new single-family homes, townhouses and low-rises on 138 acres in Pullman, according to Crain’s Chicago Real Estate Daily.
The development, planned for the site of an old Ryerson steel mill plant at 720 E 111th St, will also include a 10-story hotel and retail space. Park National Bank bought the Ryerson site last year for $24.4 million and has commissioned Pappageorge / Haymes to design the project.
If completed, the development would be more than twice the size of McCormick Place, the article says.
Park National has submitted a zoning application to the Department of Zoning and Land Use Planning. The city will begin reviewing the proposal today.
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