Lots of things working against this project:
-developer is a greenhorn / very young
-South Side location is remote, not ideal to get top rents
-the size of the project makes it even more difficult to finance
But, y'know, sometimes people get lucky on very big bets! Gotta have people who think big.
And while I'm steelmanning this guy, he's probably desperately hoping that the Bears select the Michael Reese site for a new stadium. That would add a lot of buzz to this area and help make investors feel more comfortable. Hell, those investors might include the McCaskeys themselves, they've made it clear they need a lot of surrounding development as a pay-for on the stadium. It would also probably come with a new Metra station, maybe a busway, etc.
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la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
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