Transit-oriented development expansion gets key city OK

The plan would expand developer-friendly parking rules to at least six major bus routes

Chicago /
Jan.January 18, 2019 04:00 PM

From left: A CTA bus and Mayor Rahm Emanuel, and The Inland Group’s planned 100-unit development in Logan Square and the 79th Street CTA bus (Credit: Getty Images, Chicago Transit Authority and David Wilson via Flickr)

Mayor Rahm Emanuel’s plan to expand the city’s transit-oriented development program received key initial approval this week.

The City Council’s Zoning Committee voted Thursday to expand the developer-friendly program to high-ridership, high-frequency bus routes throughout the city, according to the Chicago Sun-Times. The proposal still needs full City Council approval.

Approved in 2013 and expanded two years later, Chicago’s transit-oriented development ordinance allows those developing residential projects within a half-mile of a CTA or Metra rail station to include far fewer parking spaces than normally required.

The program allowed the city and developers to increase density in gentrifying neighborhoods like the West Loop and Logan Square. Now the city is hoping the expansion will boost development in other areas of the city, as well as help reverse ridership losses for CTA buses.

Originally, the program was only to be expanded to the 79th Street and Chicago Avenue bus lines, but the proposal approved Thursday extends the program to six bus routes. Other bus routes in the proposal include Ashland Avenue, Western Avenue, 55th Street and portions of roadways along Lake Shore Drive.

Hundreds of units in transit-oriented developments are currently in the works, including Tandem Partners’ twin buildings totaling 401 units near the Blue Line in the West Loop. In Logan Square, Kiferbaum is developing a 28-unit transit-oriented right next to Clayco’s 132-unit transit-oriented development. [Chicago Sun-Times]Joe Ward


Related Articles

arrow_forward_ios
Berkadia CEO Justin Wheeler with Moran & Co.'s Tom Moran (Getty)

Berkadia picks up longtime multifamily brokerage

Berkadia picks up longtime multifamily brokerage
Magellan Development, led by CEO David Carlin, is cutting 300 hotel rooms from its planned mixed-use tower project in Lakeshore East. (Photos via Magellan)

Magellan slashes 300 hotel rooms from Lakeshore East tower project

Magellan slashes 300 hotel rooms from Lakeshore East tower project
The owner of Johnny’s IceHouse East wants to sell the 50,000-square-foot building. (Johnny's IceHouse via Facebook, iStock)

No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity

No more ice ice, baby: Indoor skating rink hits market as redevelopment opportunity
110 North Carpenter Street and 333 South Wabash Avenue (Sterling Bay, Shvo)

Here are Chicago’s 10 biggest investment sales of 2020

Here are Chicago’s 10 biggest investment sales of 2020
TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)

Off the rails: Freight train provider lists West Loop HQ for sublease

Off the rails: Freight train provider lists West Loop HQ for sublease
2430 North Halsted Street and Harrison Street's Christopher Merrill (Sterling Bay; Harrison Street)

Harrison Street raises $720M for life sciences real estate fund

Harrison Street raises $720M for life sciences real estate fund
JDL Development's CRP James D. Letchinger and Halsted Flats (Getty, Halsted Flats, JDL Corp)

Luxury building near Wrigley Field hits market for $125M

Luxury building near Wrigley Field hits market for $125M
Roger Romanelli and Mayor Lori Lightfoot (Fulton Market Association, Getty, iStock)

Restaurant coalition to Lightfoot: Reopen indoor dining

Restaurant coalition to Lightfoot: Reopen indoor dining
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...