AFL-CIO Trust invests in Wolf Point development

The AFL-CIO Building Investment Trust (BIT) recently announced an investment in the proposed Wolf Point development in the River North neighborhood. According to the news release (PDF), the BIT joins:

… Hines, Kennedy Enterprises and the Magellan Development Group in their effort to revitalize the long-dormant site along Chicago’s river.

“We are proud to support this significant development here in Chicago. It’s not only a strong investment in this city, but it is an important investment in the hard-working men and women who will help build the project,” said Tom Villanova, President Cook County Building and Trades Council. “The BIT invests in projects that not only create union jobs, but also help to secure the retirements of thousands of our members.”

The three-phase project includes three towers – a residential building and two commercial buildings. The first phase of the proposed project is a 525 foot-tall residential building with 500 luxury rental units on the western portion of the property. Building coverage will be 22% of the total site area, with extensive parks, a nearly 1,000 foot river walk and other public spaces covering the majority of the nearly four acre area.

A public meeting on the Wolf Point project is scheduled for this evening at 5:30 at the Holiday Inn West Mart Center in the 14th floor Sauganash Room. Hines Development will make a follow-up to its previous presentations.

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