Photo Credit: Sterling Bay
Megadevelopments Lincoln Yards and 78 fates are now in the hands of the Chicago City Council. Both tax-increment financing districts will receive as much as $2.4 billion in public money.
The approval for the proposed TIF districts came yesterday to finance infrastructure projects. Sterling Bay’s Lincoln Yards project will cost approximately $6 billion and will be located along the Branch of the Chicago River. Related Midwest’s project will cost approximately $7 billion for a mixed-use campus between Roosevelt Road and Chinatown.
The 78 has made more progress than Lincoln Yards so far. The 78 won City Council zoning approval last year. Lincoln Yards on the other hand, still needs approval from the City Council’s…