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02-13-2009, 04:34 PM
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Member
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Join Date: Apr 2008
57 posts, read 48,688 times
Reputation: 28
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Is the Waterview Tower going to be built?
Is the Waterview Tower going to be built?
It's supposed to be completed this year and they've only finished the first couple of floors; no visible progress has been made in months.
I heard that it's "on hold" so does that mean that they won't do anything to it for possibly years?
What would happen to the site if all the sudden they decide not to finish it? Would they do that?
It really makes me sad to see the lack of development on this beautiful building, I hope they do finish it.
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02-13-2009, 05:02 PM
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Member
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Join Date: Jul 2008
51 posts, read 31,382 times
Reputation: 30
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The answer is "Who knows?" The developer ran into financing problems in the middle of the project. Construction loan money that they were counting on did not come through when the big banks started tanking last fall. The developer needs to secure more loan money in order to start up construction again. But given the tighter lending standards that are out there now, they might have to sell more units in order to get those loans. I don't have to explain how tough it will be to move any more units in a luxury building during a worldwide economic crisis.
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02-13-2009, 06:52 PM
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Senior Member
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Join Date: Feb 2008
0 posts, read 169,705 times
Reputation: 10
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No.
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02-13-2009, 07:32 PM
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Senior Member
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Join Date: May 2008
Location: Chicagoland
1,339 posts, read 706,277 times
Reputation: 301
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Quote:
Originally Posted by eurous1
No.
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You don't hide your hate for Chicago very well. |
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02-13-2009, 07:44 PM
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Not a member
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Join Date: Sep 2008
Location: Chicago- Lawrence and Kedzie/Maywood
2,275 posts, read 1,065,700 times
Reputation: 513
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Let's all combine our money to fund it.
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02-13-2009, 07:52 PM
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Senior Member
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Join Date: Aug 2007
1,631 posts, read 1,605,366 times
Reputation: 384
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Any number of things could happen. They could obtain financing and finish the original concept. They could sell the project off to another investor. It could be abandoned altogether, in which case it might actually be cheaper to just tear it down. I would imagine the likely scenario is at some point another investor will step in and finish the project as a much more modest building than was originally intended. But at this point- no one knows. This one is even worse off than the Spire, if you can imagine that
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02-13-2009, 08:06 PM
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Senior Member
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Join Date: Feb 2008
0 posts, read 169,705 times
Reputation: 10
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Quote:
Originally Posted by thePR
You don't hide your hate for Chicago very well.
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Hate? |
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02-13-2009, 08:37 PM
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The Piper at the Gates of Dawn
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Join Date: Aug 2007
Location: Chicago
10,714 posts, read 6,937,051 times
Reputation: 1030
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Quote:
Originally Posted by thePR
You don't hide your hate for Chicago very well.
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Not at all. He is a stooge.
Quote:
Originally Posted by eurous1
There is nothing better than being wealthy and raising a family in Manhattan.
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01-27-2009, 01:01 AM
http://www.city-data.com/forum/new-y...yc-really.html
Quote:
Originally Posted by eurous1
Chicago is a knock-off, cheap imitation, unenlightened version of New York.
But you seem to be after those things so you might love Chicago. I find it dreadful, however.
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01-25-2009, 10:15 PM
http://www.city-data.com/forum/new-y...ml#post7171563 |
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02-13-2009, 11:05 PM
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Member
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Join Date: Jun 2008
33 posts, read 28,457 times
Reputation: 18
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Oh God.... stills a project... and it will be project for a long time. I love the pictures of it, though.
Three years ago, they did not start because they had no funds... now... well... if you have some sort of connection with the World (which being a user of this forum, you have) you know they have lesser or no funds now...
Quote:
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Originally Posted by eurous1
Chicago is a knock-off, cheap imitation, unenlightened version of New York.
But you seem to be after those things so you might love Chicago. I find it dreadful, however.
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Hey... some respect over here, please. Chicago is an awesome City... it has a lot of defects but it has a lot of good stuff too.... I'm moving from Chicago to San Diego in three weeks, but I will talk about Chicago as the great city is it. If you hate Chicago, avoid reading this section... as your posts are not helpful at all...
Thanks |
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02-14-2009, 03:16 PM
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Senior Member
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Join Date: Aug 2007
1,631 posts, read 1,605,366 times
Reputation: 384
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