Quote:
Originally Posted by Sky88
In my opinion, Related Midwest doesn't have the money to carry out two projects like The 78 and 400 N LSD. The 78 site will cost 5 billion and other billions will cost these two towers on the Spire site. I fear that Related will has to give up one of the two projects at the end.
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They wont need the $5+ billion immediately for The 78, because it will be built in phases, one building after the other, over the course of two to three decades. Look at LSE as an example; its been going strong now since 2001. It has seen two economic downturns, and each time they simply pause and wait it out. With the remaining outer sites along the river mouth and LSD, they have probably 5 to 6 more years before its fully built out.
As for 400 LSD, they will be doing one tower at a time. They will probably start with the shorter tower since the foundation is already there, and once its fully leased out, begin the taller one along the river, and probably not right away either, since more than likely we will enter a recession in the next two years, around the time the first tower is nearing completion.
I have no doubt they will be able to see everything through themselves, without needing to bring in partners or part with any of the properties. Now, whether we
want them to give the land up so that better designing, less VE-oriented developers can take over is another matter entirely
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