Chicago Development News (Week of 3/13) (Lincoln, Fulton: condo, construction jobs, neighborhood)

[OKParker]

Not too much going on in terms of news this week for a city the size of Chicago, but a few news-worthy notes below:

Multi-billion dollar train-capped development in the works near Soldier Field with additional transit development and extension of the skyline a bit further south: https://www.chicagotribune.com/busin...313-story.html

The 76 story Church property development in Ri-No is a go: https://www.chicagobusiness.com/comm...river-north-go

A couple more giant corporate offices being built in the WLoop: https://www.chicagobusiness.com/comm...fice-buildings

Lincoln Yards development passes on 33-15 line bringing 24k permanent jobs, 10k temporary construction jobs, and 21 acres of parkland: https://twitter.com/thedailylinechi/...06241598046209

Pork and Mindy's to be in 28 Marianos locations: https://www.chicagobusiness.com/rest...around-chicago

[smegmatite]

Lincoln yards is also sucking up a billion TIF dollars to subsidize an extremely wealthy developer. Its a joke

[Justabystander]

Originally Posted by OKParker

Not too much going on in terms of news this week for a city the size of Chicago, but a few news-worthy notes below:

Multi-billion dollar train-capped development in the works near Soldier Field with additional transit development and extension of the skyline a bit further south: https://www.chicagotribune.com/busin...313-story.html

The 76 story Church property development in Ri-No is a go: https://www.chicagobusiness.com/comm...river-north-go

A couple more giant corporate offices being built in the WLoop: https://www.chicagobusiness.com/comm...fice-buildings

Lincoln Yards development passes on 33-15 line bringing 24k permanent jobs, 10k temporary construction jobs, and 21 acres of parkland: https://twitter.com/thedailylinechi/...06241598046209

Pork and Mindy's to be in 28 Marianos locations: https://www.chicagobusiness.com/rest...around-chicago

Not too much news this week? LOL. Most cities would die for this kind of development.

[OKParker]

Also forgot to add this new development which is stylistically up my alley: https://chicago.curbed.com/2019/3/13...arket-thor-som

[andrew61]

Originally Posted by OKParker

The 76 story Church property development in Ri-No is a go: https://www.chicagobusiness.com/comm...river-north-go

Ri-No?! Is that what they're calling River North these days?!

[dtcbnd03]

Really excited to watch One Chicago go up near Holy Name. Will be pretty cool to say you live at 1 Chicago, Chicago, IL haha. What's amazing is that the article says they're tearing down 3 small buildings. That means Bella Luna cafe and the dry cleaners there in that tiny little strip mall are staying. Why would that stay? Sometimes I wish the city would force those tiny little slivers of buildings to sell cause it makes way more sense for the development to take up the whole block. Now nothing can be built at that strip mall in the future.

I hope that staircase office tower gets built in Fulton market too.

[prhill]

Are these being built for sure? Seems like this city proposes projects all the time and then people living in those areas and politicians get in the way and ***** and the projects either get minimized or cancelled. Which is sad. This seems to be the difference between us and New York who are always getting projects done and VERY tall towers built while we keep falling more and more behind!

I mean my goodness just the area south of Central park is blowing away our entire skyline these days!

[OKParker]

Originally Posted by prhill

Are these being built for sure? Seems like this city proposes projects all the time and then people living in those areas and politicians get in the way and ***** and the projects either get minimized or cancelled. Which is sad. This seems to be the difference between us and New York who are always getting projects done and VERY tall towers built while we keep falling more and more behind!

I mean my goodness just the area south of Central park is blowing away our entire skyline these days!

These are at varying points in the development schedule.. The capped rail tracks are at the initial stages, but the West Loop construction + Pork and Mindy's notes are guaranteed.

[IronWright]

Originally Posted by prhill

Are these being built for sure? Seems like this city proposes projects all the time and then people living in those areas and politicians get in the way and ***** and the projects either get minimized or cancelled. Which is sad. This seems to be the difference between us and New York who are always getting projects done and VERY tall towers built while we keep falling more and more behind!

I mean my goodness just the area south of Central park is blowing away our entire skyline these days!

Not a secret NY has tons of foreign money that Chicago doesn't as well as numerous other economic advantages. Also NY is light years ahead with density and fully built out urbanism that creates demand for these supertalls on small parcels whereas Chicago has giant surface lots, underdeveloped sites and suburban style storefronts with tons of low-rises in the core. Until all these buildable lots are finally extinct there's no way we will ever see a Hudson Yards type project where 5 or 6 towers are built simultaneously or even a 111 W. 57th type building, we don't get limestone and terracotta towers or modern glass towers with unique/experimental designs. We get Wolf Point that will take 10 years to build three buildings that received significant height cuts.

Chicago is all about mid-rise econoboxes just to fill space and maximize profits with all the low-hanging fruit. Supertalls won't come in bunches until there is demand to live in exclusive locations with little selection available that will drive prices up and where developers will feel comfortable making major investments on a global scale. You can't really justify luxury or exclusive when every neighborhood has dozens of sites that could be filled with low-end to mid-tier projects.

Though in all of NY's history they are only now building like crazy with supertalls. Chicago needs to fill out for decades first and greatly add downtown residents and jobs to push heights up to 1,000+. I wouldn't risk building a 1,500' $2 billion luxury condo tower when there are 3 empty lots on the same block that developers could come along with a high-rise box offering much cheaper units in the same location completely undercutting the "luxurious" tower I just risked building. The city will eventually regret allowing all these site swallowing podiums too. So much land is being wasted with low-rises fronting streets and setting the towers apart. Terrible model it is, the mega-projects are ridiculous as well. The land should be gridded, parceled out and let the market dictate development over time creating an organic urban landscape instead of suburban mixed use campuses being proposed for huge swaths of land.

[smegmatite]

Originally Posted by prhill

Are these being built for sure? Seems like this city proposes projects all the time and then people living in those areas and politicians get in the way and ***** and the projects either get minimized or cancelled. Which is sad. This seems to be the difference between us and New York who are always getting projects done and VERY tall towers built while we keep falling more and more behind!

I mean my goodness just the area south of Central park is blowing away our entire skyline these days!

who cares, its not a competition