Quote:
Originally Posted by DHamp
I wasn't aware that Trump, Waterview, and the Spire were using TIFs?
In New York, the rumored 1200 footer probably has a 400 ft spire on it.  In any case, call me when the rumor becomes a real proposal. Chicago has got a handful of supertall rumors floating around as well. I don't seriously deal in rumors. And I'm not asking NYGuy about anything. I don't care. I want Chicago to be the best Chicago it can be and I don't have time for the penis measuring with NY.
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I know that our supertalls here aren't currently using TIFs, but they are all residential, a lot of our Office is built with TIFs because its not as profitable or strong a market as superluxary condos. I wasn't talking about supertalls, I was talking about our government subsidizing developments in general. We do it just as often, if not more than, cities like London, NY, and Shanghi. Just look at this recent Sears proposal, 60 million TIF? If that's not an extreme subsidy I don't know what is, that's the only part I don't like about it...
Actually some intial renders were leaked on those westside supertalls, and no, they did not have spires, surprisingly enough.
All I am saying is eventually, there will be a point that the office market in Chicago gets good enough to trigger another supertall office building. Though in all likelyhood any supertall office is likely to include a mix of uses somehow, hotel or residential.