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I believe it is a city ordnance that new construction on the river must allow room for a riverwalk and public space on the waterfront.
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I have mixed feelings about this. While the riverwalk/promenade portion of the project will undoubtedly be fantastic, we will more than likely be forever viewing the exposed side of the Helen Curtis building. I hate to say it but I almost wish the Helen Curtis building wasn't there and the 300 Lasalle site stretched from the tracks on Wells to Lasalle creating a more contiguous vision for this location on the river.
I've also always wondered why more new buildings that are required to be setback don't make greater design efforts to conceal party walls and otherwise unsightly building sides from view. I know this is a more nagging problem in New York, where FAR regulations almost encourage such outcomes. In the case of 300, a diagonal jut or lower base setback the height of the Helen Curtis building could have been designed to mask and incorporate the building rather than ignore it. I suppose since that isn't going to happen, I can see some kind of metallic screen or even ivy being a good way of camouflaging the wall from view. Hopefully someone has already thought of this and not assumed that because the Helen Curtis building isn't their property, nothing can be done and no collaboration can be sought.