The plan calls for 13,575 new homes, 17,500,000 square feet (1,630,000 m2) of retail and other commercial space, a new high school, 1,500-slip marina, 125 acres of public land, lakefront access, new bike paths, and commuter rail and bus service would house 150,000 people.
[1] The Chicago Lakeside Development Master Plan will take an estimated 25 to 45 years to complete and will cost more than $4 billion in both public and private funds.
The South Works site has been vacant since 1992, when Pittsburgh-based U.S. Steel closed its plants.
September 15, 2010 Chicago Plan Commission approved the project .
Phase I of Chicago Lakeside Development includes a mixed-use shopping and residential district known as The Market Common with construction to begin in 2012.