The University of Chicago is working with the city and private developers to redevelop the 53^rd Street retail district north of its Hyde Park campus, according to The New York Times. The $250 million Harper Court project (at the corner of 53^rd Street and South Lake Park Avenue) includes a 150,000sf office tower, 74,000sf of retail, a 133-room hotel and the renovation of the adjacent Harper Theater complex.

The university intends to lease the office tower at Harper Court. The retail portion is about 60 percent leased and includes LA Fitness (32,000sf), Chipotle and Starbucks. Furthermore, Akira, a local fashion chain, will anchor the 25,000sf Borders Building that the university is renovating across the Street from Harper Court.
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The University of Chicago is following in the footsteps of other urban colleges and universities – such as the University of Pennsylvania and The University of Illinois at Chicago – that have played a vital role in the redevelopment of the neighborhoods surrounding their campuses.

Last Updated on October 26, 2012 by Ramin Seddiq