Lucas Museum location (Chicago, Ava: sale, condos, loans)

[Freddy K]

Originally Posted by NOLA101

Chicago, in the long run, probably benefits from not wasting a billion bucks on a Star Wars museum. No one will care about Star Wars and George Lucas in 20 years. In this case, Rahm's idiocy might benefit the city in the long run.

But maybe Indy can be in the running when the Teenage Mutant Ninja Turtles museum is announced.

Ugh..
its not a star wars museum.
and star wars wil still be talked about in 20 years anyway

[Freddy K]

Originally Posted by NOLA101

You need to get out into the real world. If you read the comments in the Trib, 95% of commenters are happy about the decision. Boo-hoo. No Chewbaca sippy-cups for the kids.

The VAST majority of Chicagoans have no problem with a petulant billioinaire not spoiling the waterfront with a subsidized Star Wars attraction. There's already much too much development along lakefront parkland. The people are saying "no more" already.

Chicago is a great town and doesn't need to ***** itself with stupid carnival attractions, and if Lucas really wanted to build in Chicago, he could do so, very easily. No one will care about Star Wars 20 years from now. If you really want to ***** the city out, I'm sure when the Transformers Museum is announced, you can bid for it (but just remember to call it something fancy like "Transformational Art Museum of Robotic Technology" or something.)

Did you not read tge friendsoftheparks facebook backlash?
Mostly chicagoans.

[Kmanshouse]

While I disagree that people will forget about Star Wars anytime soon, I'm in the camp of being a bit relieved the city isn't spending this money. Sure, the projections call for a long term positive return on investment here, but the city is in trouble right now, and isn't in the best position to make billion dollar investments. The state still has no good budget plan, CPS is a financial nightmare - why don't we invest in something other than entertainment?

[chet everett]

Originally Posted by Vlajos

Their funding has dried up. They have run in the red like 3 years in a row. FotP probably won't be aroundmuch longer. Most of its members are north shore elite, like Kamin.

You really should do a little reading --

Executive Director Juanita Irizarry has actual professional background in Urban Planning, 40 years of Chicago residency, grew up in Logan Square, ran for 26th Ward Alderman which includes Humbolt Park, where her background would have made her well suited to foster smart development
http://www.chicagobusiness.com/artic...n-lucas-museum

https://fotp.org/fotp-names-new-executive-director-1/

Juanita Irizarry wants development done right in the 26th Ward | Bleader | Chicago Reader


In interviews on WBEZ and other media outlet Ms. Irizarry has confirmed that the FOTP donations have been ahead of previous years. Last year they collected over half a million dollars.

Blair Kamin, the Tribune's Pulitzer Prize winning architecture writer and his wife Barbara Mahany, https://barbaramahany.com/about/ a former pediatric oncology nurse at Children's Memorial Hospital as well as former columnist for the Tribune and author, use their writing to increase awareness and appreciation for the whole range of issues from public housing Redevelopment of public housing complex raises questions - Chicago Tribune , parks, tourism / access to recreation to healthcare and education. If doing so while they raise their kids in Wilmette makes fools dismiss them as "elite" it would be curious to see what efforts the hard scrabble IT working city dwelling commenter has done to make things better in those or other areas...

[via chicago]

Originally Posted by Kmanshouse

While I disagree that people will forget about Star Wars anytime soon, I'm in the camp of being a bit relieved the city isn't spending this money. Sure, the projections call for a long term positive return on investment here, but the city is in trouble right now, and isn't in the best position to make billion dollar investments. The state still has no good budget plan, CPS is a financial nightmare - why don't we invest in something other than entertainment?

Lucas was 100% financing this

[BIG CATS]

Originally Posted by NOLA101

No one will care about Star Wars 20 years from now.

You do realize how long Star Wars has been around, and how it is still attracting new fans by the millions. Your claim is outlandish and quite foolish.

[Freddy K]

^
Yup. It is
talk about not being in the real world.

[Kmanshouse]

Originally Posted by via chicago

Lucas was 100% financing this

Seriously?? Not what I had heard. I heard this was going to be heavily subsidized by Chicago.

[NOLA101]

Originally Posted by BIG CATS

You do realize how long Star Wars has been around, and how it is still attracting new fans by the millions. Your claim is outlandish and quite foolish.

The latest iteration has been around for less than a year. Very impressive. It was largely forgotten in the intervening years.

Let's hope the future carnival attraction has a slightly longer lifespan, but I wouldn't bet on it. At least Chicago will be spared this nonsense.

[chet everett]

Originally Posted by via chicago

Lucas was 100% financing this

The "deal" that Rahm tried to put together would have cost nearly double the amount that Lucas was fronting -- Chicago's New Hope: Lucas Museum Requiring $1.2B of Bonds | The Bond Buyer

A Lucas contribution would cover repayment of the portion of bonds that would finance the museum's construction in the early years of the debt schedule.

As anybody that has ever seen any kind of "project" in Chicago well knows, cost overruns are "part of the game". The "cash" that Lucas was willing to sink into this would soon be dwarfed by reality.
Even projects that have added new public attractions that seem well used have been MASSIVELY draining on the debt service side -- Millennium Park built "the Chicago Way" - Chicago Tribune

mostly open green space for $150 million "at no cost to taxpayers" resulted in a world-renowned, multifaceted destination completed in 2004 with a price tag that eventually topped $490 million, including at least $95 million in tax money.

Worse, the "deal killer" was that Lucas wanted to RETAIN CONTROL OF THE REVENUES which sets up a situation even worse that was seen for Millennium Park --

Once it was built, the city found it did not even have enough money to operate the park, despite help from the private sector, so Daley borrowed nearly $30 million just to keep it running — loans taxpayers continue to pay back.

Don't get me wrong, the benefits of some "public investment" may absolutely be worth the costs (and it is easy to say that whatever costs there are from Millennium Park are offset by the boom in surrounding restaurants, condos, and re-purposed structures like the Chicago Athletic Club...).

The lessons should be obvious -- firstly SKEPTICISM that this deal was ever anything other than a way to "re-engage" with Lucas' preferred San Fransisco site(s), secondly an affirmation of the VALUE OF THE LAKEFRONT PROTECTION ordinance, and thirdly a real question as to why Lucas was so insistent on a site that has nearly no new potential for re-invigorating the surrounding area. No matter how you look at either the "parking lot" or McCormick East Bldg locations they are never going to be a "launch pad" they way decking over the rail lines south of Randolph St has transformed the section of Michigan Ave between the Art Institute and Prudential Plaza / Towers...