The End Of Lincoln Yards? New Developer Announces Revamped Plan For Part Of Megadevelopment

JDL Development and Kayne Anderson Real Estate have unveiled a plan to acquire the 31-acre northern section of Lincoln Yards, now referred to as Foundry Park. The new development will include 2,000 to 3,000 residential units, with a mix of apartment towers and single-family homes. JDL CEO Jim Letchinger stated the project aims to create a vibrant community space for residents of Bucktown, Wicker Park, and Lincoln Park. The acquisition deal is set to close in the fall, after Bank OZK took control of the property from Sterling Bay. Alderman Scott Waguespack expressed excitement about the development and is collaborating with JDL on the approval process.

He noted that the redevelopment agreements will need to be revised but expects this to proceed smoothly. Infrastructure costs will be considerably less than the billions initially proposed by Sterling Bay. The project represents a significant shift in the vision for Lincoln Yards, which has faced delays and criticism since its approval in 2019.