CHICAGO (WBBM NEWSRADIO) -- The Chicago Plan Commission has approved a multi-year development on Near North Side property owned by the Moody Bible Institute.
The Plan Commission gave unanimous approval to a $1.3 billion project by JDL Development that includes about 2,700 residential units, 30,000 square feet of commercial space, and two and a half acres of parks.
It’s one of several mega-developments in the works on the North and Near North sides.
The 8.1-acre project, called North Union, would be built in phases over a decade. The residential units will include high-rises of various heights and luxury townhomes.
James Letchinger, founder and CEO of JDL Development, said the project will create anywhere from 500-1,000 construction jobs every year for the next 10 years, and another 400 permanent jobs once the project is complete.
“Chicago has had a tough year, but we’re still incredibly invested in Chicago and we’re not going anywhere,” Letchinger said.
Commissioner Maurice Cox said, “this is probably one of the most optimistic developments that I’ve seen since my time here. I think it comes at a really critical moment for the city as we imagine coming out of the COVID pandemic, so to know that there is this confidence in the future of Chicago bodes incredibly well for us all.”
The project will move onto the Committee on Zoning, Landmarks and Building Standards before reaching the entire City Council for final approval.
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