/

|

|

Highlights
Chicago’s City Council approved the zoning for Foundry Park, a $3 billion, 6 million-square-foot mixed-use development by JDL Development and Kayne Anderson Real Estate.
The project, which includes over 3,200 residential units (with 641 set aside as affordable housing), is a significant reset for the site, which was previously the northern portion of the failed Lincoln Yards megaproject.
A major hurdle remains, as the City Council has yet to approve the new infrastructure (roads, utilities) required to support the historically industrial site, and the previous $1.3 billion TIF agreement for Lincoln Yards must be untangled.