Posted Jul 18, 2018, 11:37 PM
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Join Date: Apr 2013
Location: Chicago & Philly
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Lincoln Yards development could bring 5,000 homes and 23,000 jobs to North Side
Quote:
By Ryan Ori
Skyscrapers as tall as 70 stories are part of a developer’s ambitious plan to bring 23,000 jobs and 5,000 homes to the Chicago River on the city’s North Side.
Those are among new details that Chicago developer Sterling Bay unveiled Wednesday night during the long-anticipated first public meeting for its planned Lincoln Yards project, a more-than-$5 billion development planned for at least 70 acres along the river between Lincoln Park and Bucktown, on parcels once occupied by the A. Finkl & Sons steel plant and other industrial businesses.
Sterling Bay’s plan has the potential to transform a swath of old manufacturing properties into a town center of sorts, with offices, hotels, apartments, condominiums, shops, restaurants, sports, entertainment and outdoor activities.
Yet the plan also presents enormous challenges — particularly traffic congestion, concerns about straining resources such as nearby schools, and providing adequate park space.
“Lincoln Yards is a once-in-a-lifetime opportunity to transform a former industrial site into a vibrant community that will finally connect Bucktown and Wicker Park to Lincoln Park and activate our extraordinary riverfront,” Sterling Bay managing principal Andy Gloor said ahead of the meeting.
Lincoln Yards is made up of long stretches of land along the east and west sides of the river between North and Webster avenues. The development’s name is a nod to the site’s industrial past and Chicago’s history as a rail hub, Gloor said.
Sterling Bay’s preliminary plan is to build about 12 million square feet of buildings, not including parking. It would be divided roughly in half between commercial and residential space, according to Gloor and Erin Cabonargi, the firm’s director of development services.
The plan includes about 5,000 residential units and 400 to 500 hotel rooms.
Sterling Bay is seeking zoning approval to build towers as tall as 700 to 800 feet, the firm said. That would equate to somewhere in the range of 70 stories, a height typically seen in and immediately around the Loop. The towers would be the tallest buildings north of downtown, a distinction that now belongs to the 869-foot-tall mixed-use tower at 900 N. Michigan Ave., about a mile south of Lincoln Yards.
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http://www.chicagotribune.com/busine...718-story.html
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