Lincoln Yards is a $6 billion mixed-use project planned by developer Sterling Bay for 53 acres of mostly vacant land within the North Branch Industrial Corridor in the Lincoln Park and West Town community areas. The project will include up to 14 million square feet of new commercial and residential construction, including up to 6,000 residential units with a 20 percent affordability requirement, 21 acres of park space, multiple infrastructure and transportation improvements, and more than $120 million in development fees.
Community engagement for the project, including the North Branch Framework process, began in 2016 and continued into 2019. Feedback specific to the Lincoln Yards project was gathered from various community meetings, stakeholder group meetings and block club meetings, as well as more than 2,000 responses to three community surveys.
Zoning for Lincoln Yards was approved by the Chicago Plan Commission in January 2019 and by City Council in March 2019. A Tax Increment Financing district and Redevelopment Agreement (RDA) with Sterling Bay was approved by the Community Development Commission in February 2019 and by City Council in April 2019.
According to the RDA, $490 million in future increment from the Cortland/Chicago River TIF District will reimburse Sterling Bay for the construction of new public infrastructure identified during the community engagement process, including:
The developer is also committing approximately $293 million in private funding toward public improvements, including:
A Lincoln Yards Community Advisory Council announced by Mayor Lightfoot in December 2019 will be formed to serve as a conduit for community input as construction moves forward over the next three years. The 14-member CAC will consist of neighborhood representatives, community leaders, design professionals, and subject-matter experts appointed by Mayor Lightfoot and Ald. Brian Hopkins (2nd) in consultation with local stakeholders. The group will meet quarterly starting in early 2020, making advisory recommendations ranging from public infrastructure design to traffic control to open space, among other issues. CAC member applications may be submitted until Friday, Jan. 17, 2020, at the link below.
Phase one construction is underway, consisting of 1.32 million square feet of offices, 108,000 square feet of retail and 1,400 parking spaces between Dominick Street and the Chicago River south of Webster Avenue. To date, 25,000 tons of contaminated soil has been removed, 200 cubic yards of lead soil has been treated, and 30 underground storage tanks have been removed. Three ballfields known as Fleet Fields opened in July 2019 at 1397 W. Wabansia Ave.