Lincoln Park gained 360,000 square feet of retail space and about 200 new apartments with the Oct. 30 grand opening of the NewCity development near Halsted Street and Clybourn Avenue.

Mayor Rahm Emanuel cut the ribbon at the grand opening, and said NewCity “is bringing new opportunities and creating hundreds of jobs for Chicagoans,” according to an Oct. 30 press release.

Tenants of the 8.5 acre retail, entertainment and living development include ArcLight Cinemas, Dick’s Sporting Goods, Kings Bowl America and Mariano’s.

The $265 million project began in December 2013 and employed more than 1,000 construction workers. John Bucksbaum, the project’s developer, said NewCity will benefit the entire community.

“NewCity is creating hundreds of jobs and will serve as a major economic driver for the area,” Bucksbaum said at the ribbon-cutting ceremony.

He estimates the development will employ 500 full-time workers and create millions of dollars in real estate and sales tax revenue for the city. A week after its opening, Bucksbaum said the development is doing well.

“Going forward, there will be other stores and restaurants opening,” he said. “Some of those will open later this year, some [will open] next spring.”

One of the larger retailers opening soon, Bucksbaum said, is Saks Off 5th, which will open its fifth Chicagoland store at NewCity. One thing that makes NewCity unique to other shopping developments is the abundance of open, outdoor gathering spaces for visitors.

“There’s almost 20 percent outdoor space,” Bucksbaum said. “I think that will be something people really enjoy.”

Angie Timmons, manager of NewCity tenant It’s Sugar, also said business has been strong throughout the development’s opening week.

“We’ve been really busy from the onset,” she said. Timmons said she’s confident NewCity will be a “wonderful asset” to the Lincoln Park neighborhood.

One customer, a Canadian visitor to Chicago named Ellie Brady, said she was drawn to NewCity because she likes Earl’s Kitchen and Bar, a Canadian restaurant chain.

“I think its pretty awesome,” she said. “It’s very nice, very lively.”

The residences at NewCity are housed in a 19-story tower offering studios, one-bedroom and two-bedroom units. Amenities for residents include an outdoor pool, fire pit and fitness center. Apartments at NewCity begin at $1789. A NewCity leasing consultant said the building is already 38 percent leased and 30 percent occupied.