Maybe :cool:

I mean, if you connect the dots here…

let's please stay on topic.

I mean, the cantilever isn't even on the park side (essentially). So either the design/orientation changed, there was some liberty taken in the rumor, or it's different altogether.

Nope - these are two New York developers - JK Equities and Time Equities. If you're thinking of Crescent Heights and 113 E Roosevelt, wrong thread....

Yes, 1326 S Michigan would be visible....

Fine. But lock your doors.

This rapidfire wave of enormous residential project announcements tells me that we are likely entering (or already in) the bubble phase of the economic cycle that has been the rule since, well, ever. Some of these big projects may get off the ground but probably not all.

Rest assured though, even after the inevitable bubble inevitably busts, fiveish years later, a recovery is inevitable and we'll be back into boomland again.

this thing blows me away gorgeous

This rapid-fire wave of enormous projects tells me that developers want to get their shit into the city before the affordable housing ordinance goes into effect in mid October.

1326 S. Michigan would go inbetween the 2 "short" (30 story) beige towers to right of the ghost tower (phase 2 Michigan and Roosevelt Vinoly tower) and it'll be 2 stories taller than the orange tower in the rendering.)

Yep. Which sucks, actually, because some of these proposals may end up being years away.

Will these projects really be approved by the city council before that ordinance takes effect. I doubt that. They will have to comply just like all the rest.

It doesn't suck for people applying for affordable housing.

They don't have to be approved before the ordinance takes affect, just filed to the city.

Chicago really seems to be on Fire :cheers: awesome proposal and with Jahn you cant go wrong. Lets hope it won´t get too VEd ;)

WOW! i really underestimated the caliber of that building

Do you know what happens after that? For example, does construction need to be begin/finish by a certain point in order to maintain the exemption?

No, construction start has nothing to do with it. Projects/rezoning requests must be introduced to City Council by October 15th and approved within 9 months of that date.

Likely most of these applications will be deferred while developers hash out the specifics of the project with aldermen and community groups. Assuming they can reach agreements with the community within 9 months, the rezoning will be approved and developers can proceed with the project under the old rules.

The difference between the new and old rules is $6000 per unit, so on this project, the developer stands to save just over $3 million by filing early. Not chump change...

Thanks mods.

Please stay on topics and follow the rules. You don't want to get a trouble. You must be more respectful to others member. Be nice to each others.