Posted Jun 29, 2017, 7:25 PM
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Registered User
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Join Date: Jun 2013
Location: Chicago
Posts: 163
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Quote:
Originally Posted by LouisVanDerWright
It's a matter of real estate economics. When a large building goes up in a new part of town a few things happen. First of all, if the project is successful, it provides proof of concept for other developers. This means the next developer who comes along can say to the bank "look the Hancock building is fully leased, surely my 780' tall Water Tower Place project will be a smash hit". ....
This process happens over and over again and compounds on itself. Once Water Tower Place is built, it becomes very easy for developers to sign up investors and banks for similar projects nearby. Once Water Tower Place is up, it's really easy to say "hey I want to build the program of JHC on top of another Water Tower Place mall, I'll call it 900 N Michigan". Before you know it JHC is surrounded by a dozen 650'+ buildings.
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Do you see this type of process happening around Wolf Point? I imagine it could possibly happen along the north branch of the river
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