In the video, Belgravia Group founder Buzz Ruttenberg talks about the status of his firm’s proposal (video) to redevelop the Children’s Memorial Hospital site in Lincoln Park.
As part of the redevelopment process, Ruttenberg is subject to a confidentiality agreement that limits what he was able to disclose.
Ruttenberg related that US Equities, which is overseeing the bidding process on behalf of the hospital, is likely to narrow the current field of nine bidders to three by the middle of this month. He expects that a winning bidder will be announced in May.
Once a winning bidder is selected, Ruttenberg anticipates that the developer, the hospital and the Lincoln Park community will come together to seek a “resolution that will be satisfactory, though not ideal, for everybody. There is no ideal solution. … There will be give and take on all sides.”
Ruttenberg envisions a public process this summer, followed by City Council consideration, and construction starting in the middle to latter part of next year.