CHICAGO — The Chicago City Council has approved development plans for Vue53, a mixed-use retail and apartment project in downtown Chicago. The development team includes Mesa Development, Peak Campus Development, the University of Chicago and their financial partner, Blue Vista Capital Management. The University of Chicago administered the RFP process for the team. The development will serve the Hyde Park and Kenwood neighborhoods and will include 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 and is slated for completion in summer 2015.
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