Chicago — University of Chicago and private developers have partnered for this mixed-use project.
Chicago — The Chicago City Council has approved development plans for Vue53, a mixed-use retail and apartment project that is a partnership between private developers and the University of Chicago. The development team, including Mesa Development, Peak Campus Development, and their financial partner, Blue Vista Capital Management, was awarded the assignment to develop, finance, and manage the project through an RFP process administered by the University of Chicago.
The development will serve the Hyde Park and Kenwood neighborhoods. It will contain approximately 28,000 square feet of ground-level retail, 267 apartment units, and 230 parking spaces. The project builds upon efforts by the University of Chicago, the city of Chicago, and the Hyde Park community to create a mixed-use district on 53rd Street and to broaden the scope of products and services available to the Hyde Park and Kenwood communities. Vue53 is expected to break ground in early 2014 for completion in summer 2015.