realestate

Sterling Bay developers face heated aldermanic debate over proposed apartments

Sterling Bay's Lincoln Park project sparks debate on Chicago's affordable housing policies.

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zoning proposal for Sterling Bay's Lincoln Park apartment complex has become a contentious issue in Chicago, testing the city's approach to affordable housing and development incentives. At stake is the 25-story height of the building and a property-tax break tied to affordable housing commitments. Alderman Scott Waguespack is leading the opposition, arguing that the project's benefits don't outweigh its drawbacks.

    The conflict escalated during a City Council meeting, where Alderman Walter Burnett declined to bring the proposal forward for a vote after it was rejected in committee. A heated exchange between Waguespack and Alderman Jason Ervin ensued, with Waguespack pushing for a council procedure change to force the issue. Sterling Bay has defended its proposal, citing 124 affordable housing units, 3,200 construction jobs, and millions of dollars in traffic infrastructure improvements.

    However, the project's viability depends on the City Council approving a "low-affordability community" designation, which would allow Sterling Bay to receive tax relief under the Affordable Illinois program. Waguespack has criticized the program as unfair, particularly given Mayor Brandon Johnson's proposed $68 million property tax increase. With a December 25 deadline looming for a City Council vote, Sterling Bay is waiting for a resolution or may appeal directly to the Department of Housing for approval, bypassing local opposition.

Sterling Bay developers in heated debate over proposed apartments with aldermen.