New TIF Districts Will Finance Union Station Face-lift

Union Station, Chicago, IL
Chicago Union Station

The groundwork for the Union Station Master Plan is gathering momentum. Arup was named the designer for the $200M project's first phase. When finished, Union Station will have improved local rail connectivity and increased ridership.

Arup will design 13 near-term improvements aimed at upgrading safety, access and mobility around Union Station. These include wider platforms and pedestrian passageways, expanded concourses and entryways, and new ventilation systems to improve air quality.

Since the project is jointly funded by Amtrak, RTA and CDOT, new tax increment financing districts will be established to fund the redevelopment. The Union Station Master Plan also calls for rehabbing 1.3M SF of office space and ground-up development of another 3M SF on the station's air rights. RFPs for that were due July 1.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Gaming & Leisure Stays Bullish On Bally's Casino Project Despite Delays

Morningstar Releases New Details On Over 350K SF In Q3 Office Leases

New Bears Stadium Proposal Floated For Bridgeport

Hof Wonen Acquires 251 Social Rental Houses In New Mixed-Use Project In The Hague

Prologis To Develop 3.8M SF Industrial Park On Former Casino Site

$120M Ambulatory Center Planned For Suburbs: The Chicago Deal Sheet

Obama Center Shows Chicago Is Starved For Development

Mapped: Major Chicago Office Sales Since 2024

Developer Pitches Massive Hospitality, Makerspace District South Of Austin

$3B Foundry Park Project Breaks Ground: The Chicago Deal Sheet

Towers On The Edge: How Austin Is Redefining Vertical Density At The Waterfront

'We Don't Have To Worry About The Future': Chicago Geothermal Apartment Tower Takes Shape