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Chicago Plan Commission Backs Foundry Park, Sending 34-Acre Riverfront Plan to City Council

City officials say tax-increment financing talks remain in early stages.

Overview

  • Commissioners approved the zoning change on a 13–0 vote with one recusal, moving the proposal to a full City Council decision.
  • The JDL plan contemplates up to 3,737 homes with 20% designated affordable, plus neighborhood retail, offices, a boutique hotel, and substantial riverfront open space.
  • JDL President Jim Letchinger projects an $800 million first phase starting late 2026 with partner Kayne Anderson Real Estate and a roughly seven-year buildout.
  • Public support through TIF and the schedule for transit and infrastructure upgrades are unresolved, with Planning Commissioner Ciere Boatright calling funding discussions “early-ish.”
  • Community voices praised the scaled-down approach compared with Lincoln Yards but urged firm commitments on transit, job standards for the planned hotel, and timely public improvements.