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SOURCE McCaffery Interests, Inc.
State of Illinois, City of Chicago, and Chicago Lakeside Development Inaugurate the Completion of the South Lake Shore Drive Extension
CHICAGO, Oct. 22, 2013 /PRNewswire/ -- On Saturday, October 26, the State of Illinois, City of Chicago, and Chicago Lakeside Development will celebrate the opening of the newly extended South Lake Shore Drive. This new two-mile extension of the historic Chicago thoroughfare will unlock lakefront property that has been inaccessible to the neighboring community for more than 100 years. The event marks a major milestone for the community and a project that will transform the former U.S. Steel South Works property into a 21st century sustainable neighborhood for Chicago.
The South Lake Shore Drive extension introduces the beginning of a multi-decade development that will revolutionize the city's last great undeveloped lakefront property into a thriving, global model of modern environmental compatibility and urban living.
"The new South Lake Shore Drive will bring both ends of Chicago together, connecting Rogers Park to the South Shore neighborhood via a magnificent boulevard," remarked Dan McCaffery, Chairman and CEO of McCaffery Interests. "The opening of this extension provides long-awaited access to this site, unlocking tremendous economic development potential, particularly for the South East Side of Chicago."
As a part of the proposed redevelopment of the property, Chicago Lakeside Development, a joint venture between McCaffery Interests, Inc. and United States Steel Corporation, has donated more than 100 acres of lakefront property to the Chicago Park District, incorporating the land into Daniel Burnham's plan for Chicago's lakefront.
"This extension represents the first step of a much anticipated journey that aims to move Chicago's South Side from its historic steelmaking roots toward a future that includes a dynamic, environmentally friendly and architecturally stunning approach to urban living," said George Manos, President of USS Real Estate.
Elected officials will join the Lakeside development team on Saturday, October 26 to celebrate the official opening of the two-mile extension. The ribbon cutting ceremony will also include the unveiling of "The Steel Garden" the newest creation of renowned sculptor Richard Hunt. Festivities will commence at 9:00 a.m.
Immediately following the ceremony, a 5K run/walk and Team Time Trial cycling event will lead participants down the new tree-lined boulevard passing the entrance to Rainbow Beach Park, and through the full extent of the 600 acre property. Registration for the 5K run/walk is available to individuals and corporate teams of up to six people. A portion of the 5K proceeds will be donated to two local charities. Participants can sign up at www.chicagolakesidefest.com.
The celebration will continue in the form of a neighborhood festival from 11:00 a.m. – 5:00 p.m., which will include a farmers market featuring locally-sourced food. Refreshments, local artisans, and live music will add to the merriments. The festival will also include family-friendly activities such as a pumpkin patch, face painting, hayrides and more.
For more information about the Chicago Lakeside Festival, please visit http://www.chicagolakesidefest.com/.
About Chicago Lakeside Development:
Chicago Lakeside Development is a joint venture between U.S. Steel Corporation and McCaffery Interests, Inc. The development itself is a master-planned, nearly 600-acre mixed-use community located on the former U.S. Steel South Works site on the southeast lakefront in Chicago. The former industrial site is bordered on three sides by Lake Michigan and showcases stunning views of the Chicago skyline. The development aims to establish the neighborhood that becomes an innovative global model for approaching advanced energy, water management, waste and information communications in the 21st century. The master plan was designed by Skidmore, Owings and Merrill LLP (SOM) in conjunction with Sasaki Associates and Antunovich Associates. Working closely with Mayor Rahm Emmanuel, Chicago Lakeside will be one of the largest public-private partnerships in the history of the city. With both public and private support, Chicago Lakeside is poised to revolutionize urban living in the 21st century. For more information, please visit www.chicagolakesidedevelopment.com or follow the project on Facebook.
About McCaffery Interests, Inc.:
McCaffery Interests, Inc. is a privately owned, full-service commercial real estate company that has been in the business of investing, developing, leasing and managing real estate for more than 20 years. The McCaffery Interests portfolio of planned, completed and managed projects exceeds 20 million square feet and includes office, mixed-use, hotel, and residential properties, as well as large, master-planned communities and land developments. With offices in Chicago, IL and Washington, DC, McCaffery Interests is one of the most trusted real estate companies in the nation. For more information, please visit www.mccafferyinterests.com or call (312) 944-3777.
About USS Real Estate:
U. S. Steel owns, develops and manages various real estate assets, which include approximately 200,000 acres of surface rights primarily in Alabama, Maryland, Michigan, Minnesota and Pennsylvania. In addition, U. S. Steel participates in joint ventures that are developing real estate projects in Alabama, Illinois and Maryland. For more information, please visit www.ussteel.com.
Annie Block, Zapwater Communications
email@example.com ¦ 312-943-0333
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