Sterling Bay is scheduled to present its latest vision for Lincoln Yards at a meeting of the Chicago Plan Commission later this month.
The city’s planning department included separate proposals for the north and south sides of the 54-acre site on the Jan. 24 agenda it released Wednesday, one day after Alderman Brian Hopkins (2nd) announced he wouldn’t support the developer’s pitch for a 20,000-seat stadium and smaller concert venues operated by Live Nation, according to Curbed.
The latest plan would include up to 3,500 units on the north half of the site and 2,500 on the south half, according to the agenda. The document also describes “multiple mixed-use buildings with ground floor commercial space, publicly accessible open spaces” and a riverwalk.
Proposals don’t typically make it to the commission until they’ve been endorsed by the local alderman, whose support is crucial for any zoning decision to pass the City Council, thanks to the unwritten rule of “aldermanic privilege.” Hopkins said Tuesday that he is still undecided on Lincoln Yards, adding he wants to see the developer further pare down the massing of the plan’s tallest towers.
Sterling Bay officials announced during the project’s last public meeting in November they had shaved a combined 100 stories off buildings throughout the site plan and boosted its planned park space from 13 to 21 acres.
Unrelated to the plan commissions review of the proposal, city officials are expected next month to advance their plan to create a 168-acre new tax increment financing district surrounding the Lincoln Yards site, which could net up to $800 million for public infrastructure improvements over its 23-year lifespan. Hopkins on Tuesday suggested he would support the new TIF, pointing to successful nearby street improvements that also leaned on the funding mechanism.
Outgoing Mayor Rahm Emanuel predicted Wednesday that Lincoln Yards will eventually become a reality in some form. [Curbed] — Alex Nitkin