April 04--The city of Chicago announced a plan Monday aimed at injecting life into sleepy industrial corridors, including the site of the former A. Finkl Sons steel plant on the North Side.
Mayor Rahm Emanuel is launching a "public review process" that could loosen zoning restrictions in 26 industrial corridors, opening them up to potential retail, residential, technology or commercial development. Some of the industrial land is underused, which has a "blighting effect," the mayor said in a news release.
The review will lead to formal recommendations to the Chicago City Council. The city said public meetings will be held, and consultants will be hired to do land-use studies.
Initial meetings will start soon and focus on corridors that include Pilsen, Little Village, Roosevelt/Cicero and North Branch, the site of the former Finkl plant.
At the same time, the mayor's plan also includes creating a new funding tool. A fee would be levied on nonindustrial developments in industrial corridors. Proceeds would support manufacturing jobs in select neighborhoods and pay for infrastructure improvements in corridors transitioning from manufacturing.
"This proposal will create jobs throughout Chicago by giving the city tools to support our manufacturers and modernize areas of the city that have changed over time," Ald. Daniel Solis, 25th said in the news release.
Ald. Brian Hopkins, 2nd, who represents the area near the former Finkl site, said it's a "first step" to modernizing the zoning in the industrial corridors, but said there are a couple of major unknowns: Would the fee levied on the nonindustrial developments be onerous to the point where developers would back away from projects? How would the financially struggling city pay for streets, fire hydrants, bridges and other infrastructure improvements that might be needed?
He points out that developments on now vacated property could help boost property values in areas, creating additional tax revenues.
"We're more than willing to help out the rest of the city, but we have to decide first how to pay for the public infrastructure required to redevelop the Clybourn Planned Manufacturing District," which includes North Branch, Hopkins said.
Finkl moved in 2014 to a 53-acre site at 1355 E. 93rd St.
In 2015, redevelopment ideas for its former site pitted residents concerned about traffic congestion against those who wanted the land to keep its "planned manufacturing district" zoning designation.
byerak@tribpub.com
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