CHICAGO | General Developments - Page 1550

PKDickman · #**30981** Posted **Oct 19, 2015, 10:43 PM**

Quote:

Originally Posted by ardecila

Of course, this only works for rentals. For-sale units don't have the same incentives.

There are other incentives, and affordable income for owner occupied is 100% of AMI. That's good for around a $300,000 3br. Not market rate on the Gold Coast, but not chump change either.

Quote:

Originally Posted by ardecila

The opt-out price is increasing. I know at least in certain cases, developers are taking a hard look at building the required affordable units and finding it to be the lesser of two evils.

That's good. The day they flip a coin to choose, is the day we know we got the price right.

Le Baron · #**30982** Posted **Oct 20, 2015, 2:26 AM**

Quote:

Originally Posted by BVictor1

Density like this is what should happen on the land south of Roosevelt Road and west of Clark along the Chicago River.

Randomguy34 · #**30983** Posted **Oct 20, 2015, 2:50 AM**

But seriously, how dense do you guys think that parcel of land will be? Related Midwest is most likely aware of CMK's River South proposal (the vacant lot north and south of River City) and may want to out do them, but do you think they're going to try and make it urban? Probably not on the same level as Hudson Yards, but having it be extension of downtown would be great.

BVictor1 · #**30984** Posted **Oct 20, 2015, 3:23 AM**

Quote:

Originally Posted by Randomguy34

But seriously, how dense do you guys think that parcel of land will be? Related Midwest is most likely aware of CMK's River South proposal (the vacant lot north and south of River City) and may want to out do them, but do you think they're going to try and make it urban? Probably not on the same level as Hudson Yards, but having it be extension of downtown would be great.

Well, the CMK property is 13 acres, while the property Related is looking at is about 65 acres. It's way to early on that front to even know. Related doesn't even own the land yet.

ardecila · #**30985** Posted **Oct 20, 2015, 5:16 AM**

^ Nor will they ever own the land outright. Nadhmi Auchi isn't stupid enough to sell off the land and foreclose his possibility to make hundreds of million$ down the road.

The Lurker · #**30986** Posted **Oct 20, 2015, 7:07 AM**

Quote:

Originally Posted by Randomguy34

But seriously, how dense do you guys think that parcel of land will be? Related Midwest is most likely aware of CMK's River South proposal (the vacant lot north and south of River City) and may want to out do them, but do you think they're going to try and make it urban? Probably not on the same level as Hudson Yards, but having it be extension of downtown would be great.

I can see it now! Glistening towers shoulder to shoulder from clark Street to the river. From State street all the way to the park. And between Clark and State.....badly and repetitively designed two story condos on a dissected street grid.

SamInTheLoop · #**30987** Posted **Oct 20, 2015, 12:46 PM**

Quote:

Originally Posted by ardecila

^ Nor will they ever own the land outright. Nadhmi Auchi isn't stupid enough to sell off the land and foreclose his possibility to make hundreds of million$ down the road.

Yep.....he will undoubtedly keep a majority interest I believe (if not, then a very substantial minority interest) in what will be some sort of JV.......

urbanpln · #**30988** Posted **Oct 20, 2015, 2:14 PM**

Quote:

Originally Posted by Randomguy34

But seriously, how dense do you guys think that parcel of land will be? Related Midwest is most likely aware of CMK's River South proposal (the vacant lot north and south of River City) and may want to out do them, but do you think they're going to try and make it urban? Probably not on the same level as Hudson Yards, but having it be extension of downtown would be great.

The land was once zoned for nearly 5,000 units, before the alderman sunset the PD. The City wants a dense development, and the land is not cheap. Therefore it will be an urban neighborhood with a mix of housing types (townhomes, mid-rise and highrise buildings). The old PD also allow for quite a bit of commercial. I forgot the final number, but it was over 500,000 s.f.

marothisu · #**30989** Posted **Oct 21, 2015, 1:30 AM**

The building that will house Brooklyn Bowl at Green & Fulton got its permit yesterday.

the urban politician · #**30990** Posted **Oct 21, 2015, 12:23 PM**

^ I thought they were going to call it 'Chicago Bowl'?

harryc · #**30991** Posted **Oct 21, 2015, 1:01 PM**

^^ Which corner ?

OrdoSeclorum · #**30992** Posted **Oct 21, 2015, 1:33 PM**

Quote:

Originally Posted by the urban politician

^ I thought they were going to call it 'Chicago Bowl'?

Hope so. I definitely would not be visiting a place called "Brooklyn Bowl" very often, unless I was in Brooklyn.

Ned.B · #**30993** Posted **Oct 21, 2015, 2:13 PM**

Quote:

Originally Posted by harryc

^^ Which corner ?

NW corner where the squat 1950s building is now. The existing 3 story building at Peoria and Fulton is on the left of the rendering.

harryc · #**30994** Posted **Oct 21, 2015, 3:08 PM**

Quote:

Originally Posted by Ned.B

NW corner where the squat 1950s building is now. The existing 3 story building at Peoria and Fulton is on the left of the rendering.

Cool - that one is so aggressively bland it defletcs my camera
- neighbor has potential

maru2501 · #**30995** Posted **Oct 21, 2015, 3:35 PM**

lincoln/roscoe/paulina,,, from paulina brown

LouisVanDerWright · #**30996** Posted **Oct 21, 2015, 3:39 PM**

FYI, this big TOD is under construction:

http://chicago.curbed.com/archives/2...posal.php#more

Demo is complete and Revcon rigs are on site.

Jibba · #**30997** Posted **Oct 21, 2015, 4:37 PM**

Quote:

Originally Posted by LouisVanDerWright

FYI, this big TOD is under construction:

http://chicago.curbed.com/archives/2...posal.php#more

Demo is complete and Revcon rigs are on site.

Wow, I was not expecting that.

I don't really dislike it, either. It blessedly lacks design, if you know what I mean.

the urban politician · #**30998** Posted **Oct 21, 2015, 4:42 PM**

^ Yeah, I love it. Classic density, I feel like it's the 1930's again seeing stuff like that go up.

Randomguy34 · #**30999** Posted **Oct 21, 2015, 4:48 PM**

The design looks like a modern adaptation of a courtyard building, except with a base.

SamInTheLoop · #**31000** Posted **Oct 21, 2015, 4:51 PM**

^ How about the 20's?

The 30's, ehh, most people not so crazy about!