Quote:
Originally Posted by Handro
This project has more potential to become a dead zone, visited only by people bussed in from the suburbs or outer neighborhoods and then bussed straight back, than it does to become a little island of Vegas nightlife on the river. It’s a pointless location for a hotel but for people staying specifically for the casino—and who is making an overnight trip to Chicago to gamble? I’m afraid we have enough evidence of the economic gravity of casinos in Chicagoland to become naively hopeful for this to be anything but a streetside wasteland.
How is the Medinah temple casino doing, in a beautiful, approachable building, in a bustling tourist district?
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Yeah this was certainly a concern of mine, but the casino is only one of many reasons for people to go here, and will be less relevant over time IMO.
I was very on the fence about the site when first chosen, but after seeing the plans & strategy I've convinced myself that this is potentially an exciting catalyst for the North Branch and for downtown Chicago.
The project consists of many parts that would be significant and exciting development by themselves
- Long overdue and large extension and development of the riverwalk up the North Branch. Finally getting the Riverwalk going up the North Branch is a huge win by itself, and it's 2000 ft or .4 miles - huge addition. And the Riverwalk redevelopment along Wacker has been hugely successful and exceeded expectations.
- New 500 key hotel downtown. Plenty of people in town on business or for any reason will stay at the hotel whether or not they actually visit the casino. Staying at a hotel that is connected to the Riverwalk is hugely desirable. A new 500 key all hotel tower Downtown is big development news by itself. Does anyone know the height? I've seen 500 ft in articles but also 34 floors. If it's 500 feet I think this will be the tallest 'all hotel' tower in Chicago?
- 3000 seat theater. This is not an afterthought - Chicago theater seats 3,600. This is basically a new events venue Downtown. Many conferences - probably weekly/monthly will be held at Bally's I suspect. A theater style seating is ideal for conferences that have a keynote and panel speaking schedule and superior to typical ballroom venues where they are usually held downtown. There are tons of these held in Chicago. Also the location is way more central and desirable than McCormick, Hilton, or Venue610 which are kind of far from tourist sites and downtown. Many existing conferences will switch from other hotels to Ballys I supsect. Plus music, standup, etc. This would be a major new development by itself.
- 6 new restaurants/cafes/bars/foodhall - 6 opening at once is another major development downtown. Timeout in Fulton has also been very successful. This also allows you to spend a better fraction of the day here. Hopefully shopping and retail is added here or nearby in time. Restaurants with a river view should be very popular like they already are along the wacker river walk and places like Chicago Cut.
- And of course the casino itself. I'm hoping we get some major poker tournaments here and ESPN coverage or something. Would be pretty cool. Horshoe in Hammond already has.
And this is just Ballys - as mentioned if this spurs more development nearby I do think the casino will not be the primary reason that people visit this area.
It's a $1.8 billion development - that is very big. There's clearly a lot more money being spent than just on a casino floor.