Riverside Wins Bid To Be Master Redeveloper For Union Station
Amtrak and City Hall have settled on a master developer for the Union Station Master Plan. Riverside Investment & Development won the rights to redevelop Union Station in a bidding process that included heavy hitters like Sterling Bay, JLL and Golub.
Riverside, Convexity Properties and architect Goettsch Partners proposed a three-phase redevelopment to be completed within a six-year timetable. The first phase will be improvements to Union Station itself, including 110K SF of new retail and a food hall, street-level complementary retail, renovations to the headhouse and Union Station's Great Hall, 100K SF of office space, a hotel above the Great Hall, and twin 12-story apartment buildings above the headhouse.
Phase 2 will feature two 750K SF office towers, 800 parking spaces and new public accessible green space. The final phase will be a 500K SF mixed-use retail and residential tower built above Union Station's transit center.
Amtrak announced a request for quotes process for a master developer last May. Mayor Rahm Emanuel and Amtrak CEO Wick Moorman will officially make the announcement this afternoon. Riverside CEO John O'Donnell, a panelist at Bisnow's Big Midwest Office event on June 14, is expected to be in attendance. Union Station is Riverside's third high-profile downtown development. It delivered 150 North Riverside last December and is part of the development team at 110 North Wacker.
