Wednesday, April 25, 2018

Crain's: South Works developer says project is still on

[VIDEO] What's going on with the site of the old South Works steel plant?
In a statement addressing a Chicago Tribune report last week in which Barcelona Housing Systems raised questions about the ambitious development's future, Ireland-based developer Emerald Living said Barcelona has not been part of the team behind the project for months and that Emerald "remains very committed to the New South Works project and Chicago."

The statement comes after BHS issued a statement to the Tribune that plans to buy the South Works site, which Emerald and Barcelona signed a contract last year to acquire, are "currently on hold because of soil contamination problems that need to be cleared," the report said.

An Emerald spokeswoman declined to comment on the apparent holdup but said in the statement that BHS played an advisory role when it came to "master-planning initiatives" and that it hasn't had a hand in the process since late 2017.

"The due diligence with respect to all commercial, legal, and environmental aspects of the project was handled exclusively by Emerald Living," the statement said. "BHS stepped back completely from New SouthWorks at that point and have not played any role in the project since."

Both statements cloud the prospects of the $3.5 billion proposal that Mayor Rahm Emanuel touted last year as a "major milestone" in the effort to redevelop the former U.S. steel mill site, which has sat unused since 1992.
The above video I googled searching for pics of the South Works site, is drone footage of the property recording in January 2015.

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