By Dana Kozlov

CHICAGO (CBS) — The new southern extension to Lake Shore Drive could mean new life for a part of Chicago that many people have never seen, but is very picturesque.

The entrance to the new LSD extension begins at 79th street. It’s blocked off now but will open to the driving public at 6 a.m. on Sunday.

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Chicago’s Transportation Commissioner Gabe Klein says it will change the face of a parcel of land that used to house the old U.S. Steel Mill.

“The state and the city have come together to stimulate growth and really tie this neighborhood together with rest of Chicago and the lakefront,” said Klein.

Eventually, city planners hope more than 13,000 new homes will be built on the space, along with a new high school, new shops and a new marina.

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The new section of the drive cuts through Chicago’s South Chicago neighborhood and one called the Bush. Both have seen hard times since the steel mill closed decades ago.

Some longtime residents have high hopes, now, for the future.

“It’s gonna bring a lot of business,” said Ray Caceres.

A little history will be preserved as a section of steel mill concrete will encompass a new park. However, it could be years, even decades, before the lakeside vision is complete.

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Klein said it is exciting to have the “potential to basically build a new community from scratch.”