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Health tech hub planned for Michael Reese site

by ALBY GALLUN, for Crain's Business Chicago - March 12, 2020


"The developers of Bronzeville Lakefront Development, a proposed megaproject south of McCormick Place, have cut a tentative deal for a medical innovation center that's tied to the largest hospital in Israel. The ARC Center would open on the former site of the Michael Reese Hospital, part of a 15-million-square-foot development that could cost as much as $7 billion. The project’s developers, a joint venture led by Chicago-based Farpoint Development, aim to build an ARC-anchored health-science cluster that would spin out new biomedical technologies—and create thousands of jobs—by harnessing the collective power of the area’s universities, companies and entrepreneurs."


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