The 78
The 78 is a development in Chicago that will consist of several towers, high-rises, and a riverwalk. The name "The 78" refers to the existing 77 community areas in Chicago and the mega-development is to increase that number by one. Related Midwest will develop the site, and Skidmore, Owings & Merrill designed the project's master plan. Related acquired the land in 2016. It was previously owned by Tony Rezko.
The 78 development will be located on a 62-acre parcel of land just south of Downtown Chicago and north of Chinatown. The area is bordered by Roosevelt Road to the north, Clark Street to the east, 16th Street to the south, and the South Branch of the Chicago River to the west.
The 78 will also include a $1.2 billion research center called the Discovery Partners Institute, which will be operated by the University of Illinois.
In April 2019, the Chicago City Council approved The 78 development, including a tax increment financing agreement.
Two other large-scale development projects are also underway north of The 78. These are Lendlease's Southbank project and Riverline, by Chicago-based CMK Companies.
