Quote:
Originally Posted by spyguy
What's worse is that Structured bought a big piece of land across from the British School and is planning to build a nasty big box-type development with a huge surface parking lot.
|
Where exactly? I can't find anything about this, except for Structured's purchase back in 2006.
It sucks, but they've gotta pay the mortgage and taxes somehow, so they need to put the land to productive use. Auto-oriented retail is the easiest, quickest way to do that within Structured's realm of expertise.
The New City site plan still isn't that awful. The buildings still come up to the street, with a elliptical plaza in the middle, and the parking is still condensed into one big garage. It's still the same retail monoculture as the rest of North/Clybourn, but at least it will feel urban, which is lightyears better than the last 3 decades of development at that intersection.
We've already got one tower up (SoNo) so the die is already cast for high-rises at North/Clybourn. I doubt many of the vacant lots will be filled before the residential market picks up again, and when it does, some of those developers may choose to go residential, especially now that the subway station is a palace.