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Riverfront Development

Big plans are in the works for Chicago's riverfront as the mayor unveiled today a $500 million project expected to open in the next few years. But Mayor Emanuel also reacted to a number of other stories making headlines this week.

The building is a 1.2 million square foot office tower at 150 N. Riverside. The mayor promises the project will create more than 1,500 construction jobs, 150 permanent jobs and 1.5 acres of new open space, which includes an amphitheater and a block-long Riverwalk.

The mayor says this is all part of his vision for a more developed riverfront in Chicago.

Investment banking firm William Blair has signed on as the anchor tenant to lease more than 300,000 square feet when the building opens in 2016.

View a slideshow of the press conference.