900' easily becomes 800' which easily becomes 725' and so on. I'm not too concerned with numbers above 500'; it really doesn't make a difference anymore (its an arbitrary number as you say). But I don't know why, depending on spire height, Hines doesn't just add a bit more height to a spire so that they can drum up interest for anchor tenants (and possible namesake tenants) in a "supertall." Even if only the rentals get out in the next ten years, a 525' tower on this site isn't awful for the time being; certainly better than a surface parking lot. But the rental market is quickly being saturated and I've seen lots of commentary that this apartment boomlet may overbuild, especially in River North. We'll see if any of this gets done.
__________________
“The test of a great building is in the marketplace. The Marketplace recognizes the value of quality architecture and endorses it in the sales price it is able to achieve.” — Jon Pickard, Principal, Pickard Chilton
|