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proposed 25-story apartment complex in Chicago's Lincoln Park has sparked a heated debate over affordable housing and development incentives. Sterling Bay's project at 1840 North Marcey Street is at the center of the controversy, with Alderman Scott Waguespack leading the opposition to its height and a requested property-tax break tied to affordable housing commitments. The conflict escalated during a contentious City Council meeting, where Waguespack clashed with other aldermen over council procedures.

    Sterling Bay has defended its proposal, citing benefits such as 124 affordable housing units, 3,200 construction jobs, and millions in traffic infrastructure improvements. However, the project's viability depends on the City Council approving a "low-affordability community" designation, which would allow the developer to receive tax relief under the Affordable Illinois program. Waguespack has criticized the program as unfair, particularly given Mayor Brandon Johnson's proposed property tax increase.

    Sterling Bay is hopeful for a compromise, with managing director Fred Krol expressing interest in engaging with Waguespack in a constructive dialogue. The clock is ticking, however, with a December 25 deadline looming for a City Council vote. If no decision is made, Sterling Bay can appeal directly to the Department of Housing for approval, bypassing local opposition.