Land use improvements approved for the eastern portion of the Kinzie Industrial Corridor today by City Council will provide for more commercial development while generating millions of dollars of new resources for business corridors throughout the City.
"As the downtown area continues to expand, these improvements will ensure the Kinzie Corridor supports the needs of local businesses and the entire City of Chicago," Mayor Emanuel said.
Recommended in the Department of Planning and Development’s “Fulton Market Innovation District” plan, the land use changes will apply to a 63-acre area generally bounded by Ogden Avenue, Carroll Avenue, Hubbard Street and Halsted Street.
“This ordinance will ensure the resurgence of this corridor will continue and generate more economic development for the entire ward and city of Chicago,” said Alderman Walter Burnett Jr. “I look forward to continuing to work with the community as we move forward with transforming this area into a vibrant commercial and residential corridor.”
The improvements will accommodate an ongoing shift in employments trends in the eastern portion of the Kinzie Corridor. Since 2002, manufacturing jobs in the area have decreased by nearly 70 percent while information and technology jobs increased by more than 410 percent; finance, insurance and real estate increased by more than 345 percent; and leisure and hospitality increased by 65 percent, according to U.S. Census data.
The improvements will:
The “Fulton Market Innovation District” plan was adopted by the Chicago Plan Commission in 2014 following 10 community meetings and participation by more than 450 community stakeholders. The implementation of the land use proposals were subject to community meetings in August, September and October of this year.
The 854-acre Kinzie Corridor is one of 26 designated industrial corridors in the city. It contains approximately 800 businesses employing more than 15,000 employees.
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