Chicago Development News (Week of 3/13) (Morris, Morrison: live, shops, trendy)

[OKParker]

Originally Posted by IronWright

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.

Great post.

I'm okay with midrise buildings as long as they aren't 'econoboxes' unless you're referring to the West Loop style brick buildings (which I love). I always push for height - but once we have more 8-12 story buildings filling out or lots, the supertalls will come as they redevelop some of our suburbanesque retail strips.

[IronWright]

Originally Posted by OKParker

Great post.

I'm okay with midrise buildings as long as they aren't 'econoboxes' unless you're referring to the West Loop style brick buildings (which I love). I always push for height - but once we have more 8-12 story buildings filling out or lots, the supertalls will come as they redevelop some of our suburbanesque retail strips.

I love the look and feel of the West Loop/Fulton Market areas for the dense mid-rise neighborhood with a few high-rises here and there that it is becoming which they are strategically and organically constructing parcel by parcel and it gives a completely different vibe from the core.

I'm talking about the lame infill on sizable lots like 1419 S. Wabash, 61 E. Banks, 56 & 400 W. Huron, Rennelle and a lot of the mid-rise soulless filler with podiums sprouting up in River North and the South Loop. Alta Grand, Bentham, Andaz etc. etc. and the list goes on for days. But they are a necessary evil as they create density and eat up underutilized and undeveloped lots since there's years and years of city building to do first to create the demand for more height and more unique designs and better materials to highlight the exclusivity and significance of the buildings where rents can draw previously unthought of amounts because they separated themselves from the pack but the infill brings in higher salaried residents and activates the street with more retail/dining and pedestrians or attractions.

[DavePa]

One Chicago Square begins construction on its 49 and 78-story buildings with joined podium. Next to Holy Name Cathedral. Will take up to 42-months to complete in phases.

https://chicago.curbed.com/2019/3/21...chicago-square

[OKParker]

Originally Posted by DavePa

One Chicago Square begins construction on its 49 and 78-story buildings with joined podium. Next to Holy Name Cathedral. Will take up to 42-months to complete in phases.

https://chicago.curbed.com/2019/3/21...chicago-square

Three stages of construction - first is probably the podium. The best part of this news is that funding has been fully secured so this is guaranteed to be constructed

[IronWright]

Over on Skyscraperpage insiders are saying no phases for this one, both buildings are being built simultaneously. If this is true then 42 months sounds ridiculously long for a 969'er and a 579' building.

[OKParker]

Originally Posted by IronWright

Over on Skyscraperpage insiders are saying no phases for this one, both buildings are being built simultaneously. If this is true then 42 months sounds ridiculously long for a 969'er and a 579' building.

I trust them over Curbed, but Curbed did state 3 stages.

In other recent news:

This 523 footer is replacing a vacant lot that I used to walk past every day https://chicago.curbed.com/2019/3/25...e-sterling-bay

This area is finally being developed. Not sure if I like the rendering but at least it's an improvement.. https://chicago.curbed.com/2019/3/22...rabee-clybourn

[SkylarkPhotoBooth]

Originally Posted by andrew61

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

Good Christ, I hope not. I've never heard that before and am pretty sure the OP made it up.

[Master Jay]

SklyarkPhotoBooth, YOU just made me LOL!!!! I could HEAR how that response would have sounded aloud, as I was reading it... If my memory serves me correct, about a year ago, some of us were on one of these threads about a term some one was using to refer to the "neighborhood" and a comment was made about PLEASE don't try to create some new term! I think someone used the term, "Their Neigh" or something like that. Anyone remember? And so THIS reminded me of that with the "Ri-No" comment. Take care- Master Jay in Milwaukee

[IronWright]

Originally Posted by OKParker

I trust them over Curbed, but Curbed did state 3 stages.

In other recent news:

This 523 footer is replacing a vacant lot that I used to walk past every day https://chicago.curbed.com/2019/3/25...e-sterling-bay

This area is finally being developed. Not sure if I like the rendering but at least it's an improvement.. https://chicago.curbed.com/2019/3/22...rabee-clybourn

There's also a 39 story tower planned in the Gold Coast at the Barnes and Noble store on State & Elm.

https://www.chicagotribune.com/busin...322-story.html

[smegmatite]

Originally Posted by andrew61

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

its like those morons that call the city Chi-town

literally nobody that lives there says that

and please everyone else stop saying that... its horrible