A Change Of Plans For Sterling Bay's Coyne College Redevelopment?
There's a possible wrinkle in Sterling Bay's plans for the former Coyne College site in Fulton Market. West Loop residents are asking that a library be built on the site, and it's possible that money from the city's Neighborhood Opportunity Fund can be used to make that happen.
Sterling Bay bought the site in August and announced plans for a 400k SF office building. But in an area where office, retail and residential activity is off the charts and meatpackers are selling their assets to the highest bidder, Ald. Walter Burnett (27th) says public institutions like a library or tech-focused community center are a priority for West Loop families, according to DNAInfo.
The Neighborhood Opportunity Fund allows developers to buy density from the city for their real estate projects. There's a solid argument that a library is needed; the closest libraries to the West Loop are near the United Center and in Little Italy. Burnett says he's working with the city to secure funding for staffing the library. [DNA]