Ambitious Plans for Chicago Post Office

International Property Developers North America Inc (IPD) today filed its plans with the city of Chicago and Chicago Plan Commission for the master planned development of the historic Chicago Post Office and adjacent properties. The plan will convert 20 acres of Chicago's southwest loop, located near Congress Parkway and the Chicago River, into an urban mecca integrating retail, entertainment, residential, office and hotel space..
“Achieving ownership of the former post office was incredible but working with our team over the last two years identifying neighboring parcels and outlining this vision has been nothing short of amazing,” said Bill Davies, Chairman of International Property Developers. He said “This is not just about one building, one street or one block. This is about vision in what we can achieve and confidence in achieving that vision in one of the greatest cities in the world".

Davies added, “Years ago, there were those who doubted the museum campus and those who doubted Lakeshore East or Millennium Park. I would challenge any cynic to look to those developments and then tell me this can’t be done. I am confident that with the correct focus and energy and by working in partnership with this great city, that we will achieve our goal".

Plans call for a 3-phased development to include: 6.2 million square feet of retail, leisure and entertainment space; 4.1 million square feet of hotels (7,500 rooms total); 2 million square feet of office space; and 3.8 million square feet of residential space, totaling 16 million square feet.. Moreover, the plan also has a huge parking lot free for about 12,000 cars, a renovated river walk and a 20 acre roof garden and park.

According to the initial estimate the project will need a total investment of up to be $3.5 billion USD and it will bring the job for about 12,000 constructors in over 10 years. Thousands of permanent jobs and millions in tax revenues will mean significant economic benefit for the city and the region.

“This is vision unlike any Chicago has seen in recent history,” explained Laurence Booth, Principal of Booth Hansen Architects and project architect. “Chicago stands as a renowned international city today because visionary leaders like Daniel Burnham made no little plans more than a century ago".

IPD expects to begin construction within 90 days of city approval.

“We look forward to working with our city leaders from Alderman Fioretti to the Mayor’s office,” stressed Martin Mulryan, Project Manager for International Property Developers. “This is a very exciting opportunity".

International Property Developers (IPD) is incorporated in the United States but it has many satellite offices in cities around the world, including Monaco, Latvia, Liverpool, Barbados, Las Vegas and Chicago. IPD and its predecessor, Walton Group, are known for creating specific visions for the redevelopment of storied properties, including The Aintree Racecourse - home of the Grand National, an industrial estate and a post office in the United Kingdom. The global commercial property developer Bill Davies is the leader of the company.

For more detailed information about the project, visit IPD official website at http://www.ipdamerica.com

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