Proposed Lincoln Yards development gets zoning change boost
CHICAGO (AP) — Chicago’s City Council has approved zoning changes that will allow developer Sterling Bay to build a $6 billion mixed-use development along the Chicago River.
Before the vote Wednesday, aldermen engaged in a debate during which some argued the project will bring jobs and affordable housing and others calling it an affront to those neighborhoods that need infrastructure repair.
Mayor Rahm Emanuel says the project would bring an estimated 10,000 construction jobs and 20,000 permanent new jobs to the city.
Wednesday’s 33-15 vote does not end the approval process for the project, known as Lincoln Yards. The council must vote on a proposal to use tax increment financing funds to create $1.3 billion in new infrastructure for the project.
The development would be located on a 54-acre plot of underutilized land in an affluent area of Chicago.