CHICAGO — The developer behind the $6 billion Lincoln Yards project will double the number of affordable housing units, according to a compromise deal announced Tuesday at City Hall.
The number of affordable units will jump from 300 to 600 in the 50-acre site along the Chicago River after developer Sterling Bay faced pushback over the number of units included in its initial plans. Sterling Bay said they will also build addition units within three miles of the development, and contribute $39 million to Chicago’s low-income housing trust. Affordable housing advocates applauded the move, saying it’s a step in the right direction.
Developers continue to revise their designs for Lincoln Yards as they face pushback from residents and advocacy groups, having already agreed eliminate a planned soccer arena and add more green space.
The Chicago City Council’s zoning committee will vote on the Lincoln Yards proposal at its Thursday meeting. Many aldermen are expressing support for the deal as a source of job creation in the area. The plan also needs the approval of the City Council’s finance committee and the full City Council.
Citing recent corruption scandals in City Hall, some groups are calling for votes on the massive development to wait until after the upcoming mayoral election.