The jumbo-sized mixed-use Riverside Park development, long slated for 62 acres of vacant land at Roosevelt Road and Clark Street, looks set to finally go ahead, with big-time shopping mogul Edward J. DeBartolo signing on to the project this week, according to media reports.
The development has been in limbo for some time, after Rezmar Development pulled out late last year and sold the property to Iraqi-born businessman Nadhmi Auchi. DeBartolo has bought a portion of the overall site from the foreign businessman and looks set to develop a $750 million retail and residential project on the site, according to reports.
Such a development would “flesh out” a vast expanse of the southern end of the South Loop and perhaps go some of the way toward satisfying South Loopers who gripe about lack of retail options in their neighborhood.