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| For Immediate Release July 7, 2005
Chicago?s newest farmer?s market will be launched at Lakeshore East Sunday, July 17 to serve residents of the New East Side. Alderman Burt Natarus will inaugurate the event.The market will be positioned at the west end of the emerging 28-acre community that is bordered by Columbus Drive on the west, Randolph Street on the south, Lake Shore Drive on the east and Wacker Drive on the north. Market hours will be from 7 a.m. to 2 p.m. and will be held every Sunday until autumn. ?We?re very excited about the opportunity to serve not only residents of Lakeshore East but other residents of neighboring buildings,? said Joel Carlins, president of Magellan Development Group, which is co-developer of the mixed-use complex with NNP Residential & Development. Shoppers will be presented with a variety of fresh fruits and
vegetables produced in the Chicago area, fresh-cut flowers and cheeses
at attractive prices. This $4 billion mixed-use development incorporates all the elements of a traditional city neighborhood, including homes, retail, recreational opportunities and community amenities such as a lush public park and a planned public elementary school ? all located where the Chicago River meets Lake Michigan, just north of the city?s acclaimed new Millennium Park. With completion still eight to 10 years away, Lakeshore East already has received several awards, including a National Honor Award for excellence in urban design from the American Institute of Architects (AIA) for its master plan. The Lakeshore East plan allows for the construction of up to 4,950 residences, a magnificent 6-acre public park, 2.2 million gross square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail space and a proposed 400-student public school. Phase I ? which includes construction of roadways, utilities, infrastructure and initial residential buildings ? is nearing completion. Co-developers Magellan and NNP will maintain ownership and design influence of all 28 acres to ensure a unified vision as Lakeshore East unfolds. Residential developments at Lakeshore East currently include The Lancaster, the community?s first completed condominium building, a 29-story building now substantially occupied; The Shoreham, a 46-story apartment tower nearing completion and partially occupied; The Regatta, a 44-story condominium building, also under construction; and 340 On The Park, a 62-story condominium tower under construction. Pre-construction sales are now under way for The Chandler; a 35-story condominium building that will provide 286 more condominium homes. And the much anticipated Parkhomes at Lakeshore East, bordering the new public park, are expected to be brought to market soon All are experiencing an outstanding market response, reports the developer.
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