^ Totally agree that it's what the project should have been.....or actually, a composition mix like OBP in Streeterville I think would have worked just fine too (maybe 65-85% rental/remainder condo) - of course with the right price points at this location. Just a tremendous misjudgement to start with the inverse and then go all condo (massively ambitious scale of condo development for anything post Global Financial Crisis). Just made no sense.
That being stated, this article feels highly speculative and aspirational. Reads like just something the developer hopes to be able to do. I truly hope they pull it off. I'm less than enthusiastic about the odds here.
Also, it's always been unclear to me what the actual nature of their financing agreements were.....would love to get the details and had hoped one of the town's prominent real estate reporters would have surfaced what was really going on there.
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It's simple, really - try not to design or build trash.
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