Chicago Construction News staff writer
The Chicago City Council has approved plans for Foundry Park, a $3 billion redevelopment of the northern portion of the former Lincoln Yards site. Developers JDL and Kayne Anderson could begin construction on phase one this fall.
Located on the western edge of Lincoln Park, the project was scaled down from a previously proposed megadevelopment with a mixed-use, live-work-play neighborhood anchored by commercial corridors and 34 acres of public green space.
The master plan includes 3,207 residential units, ranging from apartments to single-family homes; 350,000 sq. ft. of medical and traditional office space; and 420,000 square feet of retail and commercial space. Development will be organized across five sub-areas centered on Southport and Cortland avenues.
Phase One will develop a triangle-shaped site and includes a two-story underground garage with 800 spaces, a central park with year-round programming, and four buildings ranging from eight to 38 stories, with the tallest rising 520 feet.
Renderings and site plans by HPA and Nudge Design show the transformation of the former steel mill site into residential, commercial and recreational spaces.
Officials say the approval is a significant milestone for the Lincoln Yards area.
