Quote:
Originally Posted by ardecila
Seriously? You think this isn't possible? Millennium Park (also built atop infrastructure) was financed with over $120M in private contributions and sponsorship deals.
McDonald's has already sponsored things downtown, mostly minor things like the Millennium Park Bike Station and the dino lab at Field Museum, but with a downtown headquarters I imagine they'd be even more willing to contribute.
A real estate team demonstrated the cap could be financed purely through value capture (creating a new TIF district around the Kennedy corridor), but a large corporate partner could certainly fill in any remaining funding gaps.
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You can't be serious. Via's reaction to your post was on-point. The era of new downtown TIF districts is decisively over (as it should be). That was just Fifield floating something out there in the remote hopes of getting a 'bite' from the city (and actually thru impacting other investors' psychology by making people think this is actually on its way in the near future, thus inducing more speculative activity/higher risk-taking/appetite on their part, it's funny a couple people I was speaking with who were arguing that McD's new HQ location decision makes sense were actually using the imminent Kennedy-capping as one justification.....and probably this is also the message McD's was also being told by its real estate consultants/advisors/brokers, etc - it may indeed happen eventually but likely a long, long way off) to increase the value of their West Loop assets.