Articles by Ian Achong

City Council Approves New Pedestrian Streets In West Loop

7:30 am on January 7, 2022 By Ian Achong

The Chicago City Council has approved the rezoning parts of W Fulton Street and W Randolph Street in the West Loop. In the latest council meeting the body approved turning select stretches of both streets into pedestrian streets, however this does not imply that they will be closed to vehicular traffic. The designation which is applied to a variety of streets in the city, including 18th Street in Pilsen, redefines what projects that will abutt the streets will need to provide moving forward.

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Fern Hill Development Shrinks In Old Town

7:45 am on January 6, 2022 By Ian Achong

A major change to the upcoming Old Town redevelopment of multiple lots has been confirmed by the second ward’s Alderman. The massive project being led by local developer Fern Hill was announced late last year with plans to construct various new structures across six parcels around the intersection of W North Avenue and N LaSalle Drive. The sites owned between Fern Hill and Moody Church will be replaced or added to prolific architect David Adjaye whose work includes the National Museum of African American History in Washington DC.

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Initial Plans Revealed For ComEd Redevelopment Of 333 S LaSalle Street In The Loop

7:30 am on January 5, 2022 By Ian Achong

ComEd has announced plans to redevelop the existing trading building at 333 S LaSalle Street in The Loop. Located on the corner with W Van Buren Street, the low-rise building is adjacent to the Board of Trade tower and for many years held the last open-outcry trading pits in Chicago. The purchase, which was finalized in November, marks the end of a long history for in-person trading that helped power the local economy, which now relies on virtual operations.

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Bill Introduced Would Create Bronzeville National Heritage Area

7:45 am on January 4, 2022 By Ian Achong

A bill in 2021 was introduced to create a new national heritage area in Bronzeville dedicated to its significance in the nation’s culture. The two bills H.R. 670 and S.511 are now being reviewed by a subcommittee on National Parks before being voted on by the House and senate respectively. The bills would create the Bronzeville-Black Metropolis National Heritage Area, becoming one of three in the state and are backed by US Representative Bobby Rush, who recently announced won’t be seeking a 16th term, and Senator Dick Durbin.

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City Council Approves New Tax Incentives For Commercial Developments

7:45 am on January 3, 2022 By Ian Achong

The Chicago City Council has approved tax incentives for four redevelopment projects across the city including Uptown, Humboldt Park, Chatham, and New City. All but one of the developments are new with the other being an extension of an existing credit, the incentive is as follows; commercial developments will be taxed at 10 percent for the first 10 years, 15 percent for the 11th year, and 20 percent for the 12th year before rising to the standard 25 percent thereafter. The two classes in this round of approvals are 6(b) due to new construction and 7(a) for redevelopment under $2 million.

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