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Highlights
JDL Development and Kayne Anderson broke ground Wednesday on Foundry Park, a $3 billion, 31-acre mixed-use megadevelopment at the former A. Finkl & Sons steel company site, moving forward in about 10 months after receiving approval from the Chicago Plan Commission.
The first phase is set to deliver three residential buildings totaling 709 units and a 183-key hotel by early 2029, with developers initially funding construction with their own capital while finalizing a nearly $500 million construction loan.
The city-approved vision for the entire project encompasses 3,690 apartments and condos, single-family homes, townhomes, 180 to 200 hotel rooms, 420,000 square feet of retail space and 350,000 square feet of office space.