Tuesday, September 13, 2016

Amtrak’s Chicago Union Station redevelopment short list

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Amtrak’s Chicago Union Station redevelopment short list chicagobusiness.com

Amtrak has selected a short list of four joint ventures that will compete to become Master Developer for commercial elements of Chicago Union Station (CUS) and other neighboring properties, all owned by Amtrak.

Several firms responded to Amtrak’s Request for Qualification (RFQ). Following is the short list, in alphabetical order:

• Chicago Union Station Partners: Macquarie Corporate Holdings Pty, Ltd, Golub & Company LLC, and Walsh Investors, LLC. Primary General Contractor: Walsh Construction Company II, LLC; Master Plan and Architect: Gensler Architecture, Planning & Design P.C.; Engineering: Arup; Operations & Maintenance: Golub & Company LLC.

• JLL Consortium: Jones Lang LaSalle Americas Inc., John Buck Company Fund V, Chicago Union Station Development Company, LLC, LaSalle Investment Management, Inc.; Design & Engineering: Pelli Clarke Pelli, Arup, Studio Gang; Operations & Maintenance: John Buck Co.; Property Management: Jones Lang LaSalle Americas Inc.

• Riverside: Riverside Investment & Development; Structural Engineer: Magnusson Klemencic Associates; Rail Operations Interface Manager & Civil Engineer: WSP Parsons Brinkerhoff; Construction Management: Clark Construction Group; Operations, Maintenance & Retail Concession Manager: CBRE Inc.; MEP and Technology Engineer: ESD Global.

• Sterling Bay LLC: SB Capital Partners II, LP, SBCP II Qualified Purchasers, LP; Design-Build Contractor: James McHugh Construction Co.; Design & Engineering: Skidmore, Owings & Merrill LLP; Operations & Maintenance: Sterling Bay LLC.

The Amtrak-owned area within the RFQ is 14.07 acres, which includes 613,075 square feet of total land area and 1.33 million total square feet of building area, in addition to 1,679 parking spaces and approximately three million total buildable square feet of excess air-rights.

Amtrak management, working closely with the City of Chicago, Metra commuter rail and the Regional Transportation Authority (RTA), assisted by KPMG, reviewed the RFQs to select those teams considered capable of all aspects of project delivery, including an implementable Master Development Plan, design, construction, financing the potential operation and maintenance of non-rail assets, as well as identification of expansion opportunities and commercial development in the surrounding West Loop neighborhood.

In the fall of 2015, Amtrak sought local, regional and national developers interested in the opportunity to redevelop the Amtrak-owned station and surrounding land parcels, as well as improvements to both passenger and employee facilities. “Industry response helped to craft the RFQ, with responses submitted in July 2016,” Amtrak noted. “The next step in the process will be a Request for Proposals from the four teams, with a Master Developer decision by Amtrak this winter. The designated developer must harmonize commercial development with growing passenger volumes at CUS that are being addressed in a Master Plan, the first phase of which is under way, as well as integrate successfully with the surrounding West Loop neighborhood. The Master Developer will also engage the community and incorporate feedback from West Loop stakeholders into any development plan.”

“We are . . . a step closer to securing a master developer to assist us in realizing the full potential of Chicago Union Station and our other Chicago properties,” said Bart Bush, Amtrak Vice President, Asset and Real Estate Development. “The firms selected to advance to the next phase of the process represent some of the best developers in the business, complete with the financial capacity to dream big for Amtrak and the city of Chicago.”

“We look forward to working with our partners at Chicago Union Station to review each proposal and choose the right developer to transform this historic facility for the benefit of Chicago and Metra customers,” said Don Orseno, Metra Executive Director and CEO.

Amtrak said the Master Development process “is part of a larger corporate program to leverage the substantial Amtrak asset portfolio.”

 

 

 

 

 

 

 

 

 

 

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