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The Nexus
BUSINESSJun 9 · 21:07 UTCCHICAGO SUN-TIMESDavid Roeder

City panel backs $201.6 million TIF subsidy for Foundry Park

A city agency approved a $201.6 million tax-increment financing (TIF) subsidy for Foundry Park, a $3 billion development on 31 vacant acres along Chicago's North Side. The project, led by JDL Development and Kayne Anderson Real Estate, aims to create over 3,000 homes, 20% of which will be affordable, and 6 acres of open space, including a riverwalk. The subsidy contrasts with the failed Lincoln Yards project, which collapsed due to financial pressures.

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Foundry ParkplaceJDL DevelopmentorganizationKayne Anderson Real EstateorganizationLincoln Yardstopictax-increment financingtopicChicago RiverplaceNorth Sideplace
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