Sterling Bay to double affordable housing at Lincoln Yards project

Alderman Brian Hopkins said the move to offer 600 affordable units may help win over opponents of the megadevelopment

Chicago /
Mar.March 05, 2019 12:00 PM

Brian Hopkins and Andy Gloor with renderings of Lincoln Yards (Credit: Facebook, Chicago Architecture, and Lincoln Yards)

UPDATE, March 5, 1:25: Sterling Bay plans to double the amount of affordable housing units in the proposed Lincoln Yards megadevelopment, a move Alderman Brian Hopkins (2nd) said will help win over opponents of the project.

Hopkins spoke at a press conference Tuesday morning where he revealed the Chicago developer now plans to offer 600 affordable units among the 6,000 total residences planned for Lincoln Yards, up from 300 onsite units previously planned.

The small amount of affordable housing in the $6 billion project has been a source of contention for some aldermen, who vowed to vote against the project.

When Alderman James Cappleman (46th) took over as chairman of the City Council’s Zoning Committee from disgraced Alderman Danny Solis (25th), he said he would delay a vote on Lincoln Yards unless Sterling Bay added more affordable housing.

Cappleman later scheduled a special meeting of his committee for Thursday to consider the project, saying Hopkins and Sterling Bay were negotiating the affordable housing issue. A spokesperson for Cappleman Tuesday morning declined comment on the latest development.

But Hopkins called Sterling Bay’s decision to add the 300 additional affordable units “very persuasive” and predicted the project will win committee approval Thursday.

Mayoral candidates Toni Preckwinkle and Lori Lightfoot, meanwhile, have joined those who want delay the approval process until one of them becomes mayor in May. But Hopkins said the project has been debated and revised since July, a process he said has “consumed” his time, and said there is no need to delay the project any longer.

“If we’ve earned support, we’re entitled to a vote now,” he said, adding opponents have not offered any concrete reasons for a delay. “They’ve simply been saying ‘delay, delay, delay’ for no other reason than to delay.”

In addition to the 600 onsite affordable units, Sterling Bay has promised to develop 300 more affordable units within three miles of the Lincoln Yards site and pay $39 million into a city fund designed to promote affordable housing citywide.

Sterling Bay spokesperson Sarah Hamilton issued a statement saying the firm is committed to be inclusive, whether through diversity in hiring and contracting or through affordable housing efforts.

“Chicago is our home and we are proud to double the amount of on-site affordable housing at Lincoln Yards as well as contribute additional units and funds to the city’s affordable housing supply,” she said.


Related Articles

arrow_forward_ios
1000 W. Fulton Market and American Realty Advisors CEO Stanley Iezman (Google Maps)
Google HQ in Fulton Market is for sale
Google HQ in Fulton Market is for sale
Port of Chicago (BartShore/Wikipedia, iStock)
Big development opportunity on tap at Port of Chicago
Big development opportunity on tap at Port of Chicago
Amita CEO Keith Parrott and the Amita Health’s Lisle headquarters at 2601 Navistar Drive in Lisle (Amita, Google Maps)
Amita Health adds to wave of suburban office subleases
Amita Health adds to wave of suburban office subleases
From left: DL3 Realty’s Leon Walker, Discover’s Roger Hochschild, Mayor Lori Lightfoot, and 8560 South Cottage Grove Avenue. (DL3, Discover, Getty, Google Maps)
DL3 Realty signs Discover to big South Side lease
DL3 Realty signs Discover to big South Side lease
Blackstone’s Jonathan Gray and CenterPoint CIO Jim Clewlow with one of the properties, 225 Spring Lake Drive, Itasca (Getty, Linkedin, Google Maps)
Blackstone expands industrial reach with $151M Chicago buy
Blackstone expands industrial reach with $151M Chicago buy
(Arlington Park, Google Maps)
Churchill Downs looks to sell 326-acre Arlington Park race track
Churchill Downs looks to sell 326-acre Arlington Park race track
Chicago this week raised indoor dining to 40% of a venue's capacity. (iStock)
Filling up: Chicago boosts indoor dining capacity
Filling up: Chicago boosts indoor dining capacity
Photo illustration of the Silver Lake Country Club (Silver Lake CC, iStock/Illustration by Kevin Rebong for TRD)
Orland Park golf club hits market as residential redevelopment
Orland Park golf club hits market as residential redevelopment
arrow_forward_ios

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

Loading...