At a media preview tour of the three new sections of the Chicago Riverwalk – between Lake and LaSalle Streets – Mayor Emanuel was asked what its economic development impact has been.
He said that not a single dime from Chicago taxpayers has gone into building the project, and that it has spurred construction of two office towers (150 N Riverside and River Point), Wolf Point residential towers at the confluence of the Chicago River’s three branches, and the new Apple Store the company is building at Pioneer Court Plaza.
The $98 million project is funded by a TIFIA loan from the United States Department of Transportation — so a tiny bit of it has been paid for local taxes. The loan will be paid back by concession fees and architecture boat tour fees, Emanuel said.
Read more about the features of each new section on Streetsblog Chicago.