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  #27901  
Old Posted Mar 25, 2015, 6:59 PM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by munchymunch View Post
HOLY SHIT NEWS OF THE MONTH,Lend lease and CMK together on south loop river front parcels.

http://www.chicagobusiness.com/reale...-in-south-loop

Yep. So, this is some really exciting stuff. One of my bigger looming questions rolling about in my head as far as individual Chicago real estate projects over the last year or a little less has been what is Lend Lease's large urban regeneration project they will be launching. I think we now know. And, smart of them to not try to go this by themselves and to leverage and experienced and proven local development player. Who is the alderman here? Is it Solis?? If it is, my read is that is certainly good news for this project (and would be no coincidence that CMK is making - and the backing and resources of Lend Lease allow for this - a bold play.

I do want bold, I want dense, I want tall, I want urban, and a fantastic interaction with the river. I've got high hopes for this one. Especially given his prior commissions for CMK, I'd like to see the Lend Lease/CMK team hire Ralph Johnson for at least a portion of the coming work at this mega-project.....salivating just thinking of the potential there.....
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  #27902  
Old Posted Mar 25, 2015, 7:32 PM
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CMK owning the land between River City and Roosevelt isn't news, but them buying the land north of River City would be.

Seems unlikely that those two lots could be connected, unless they built over River City (LVDW??????) or tunneled under it.

I've probably said it before, but I'm very excited about the notion of these lots getting developed, and CMK has a decent eye for design, but outside of condo projects they haven't shown much diversity in project type. You could use these lots for a big mixed-use development with mall-like retail.

Someone here said that Lend Lease is planning to hit Chicago hard with a new development, which lead to speculation that they're going to revive the Lake Meadows megaproject, but maybe they're going to hit hard in the South Loop.
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  #27903  
Old Posted Mar 25, 2015, 7:48 PM
rlw777 rlw777 is offline
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^ maybe they're reviving Goldberg's river city master plan. Lol


Last edited by rlw777; Mar 25, 2015 at 8:35 PM.
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  #27904  
Old Posted Mar 25, 2015, 7:51 PM
Ed007Toronto Ed007Toronto is offline
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Are there any local Chicago websites that cover projects, development and urban issues beyond what's found here on SSP?
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  #27905  
Old Posted Mar 25, 2015, 7:56 PM
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Loopy Loopy is offline
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Originally Posted by wierdaaron View Post
CMK owning the land between River City and Roosevelt isn't news, but them buying the land north of River City would be.

Seems unlikely that those two lots could be connected, unless they built over River City (LVDW??????) or tunneled under it.
Hmm, interesting. As much as I hate to contemplate the loss of another Goldberg building, I suppose it is possible that they have their sites set on River City. Getting approval from 100% of ownership to redevelop a condominium property is considered to be nearly impossible in most cases. But River City is such a troubled building that it could potentially be possible to convince each condo owner to sell out.
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  #27906  
Old Posted Mar 25, 2015, 7:57 PM
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ithakas ithakas is offline
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Quote:
Originally Posted by wierdaaron View Post
CMK owning the land between River City and Roosevelt isn't news, but them buying the land north of River City would be.

Seems unlikely that those two lots could be connected, unless they built over River City (LVDW??????) or tunneled under it.

I've probably said it before, but I'm very excited about the notion of these lots getting developed, and CMK has a decent eye for design, but outside of condo projects they haven't shown much diversity in project type. You could use these lots for a big mixed-use development with mall-like retail.

Someone here said that Lend Lease is planning to hit Chicago hard with a new development, which lead to speculation that they're going to revive the Lake Meadows megaproject, but maybe they're going to hit hard in the South Loop.
I'm fairly certain CMK is planning a high number of condos for the lots south of River City, though don't know much more than that. How about a Contemporaine Village?
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  #27907  
Old Posted Mar 25, 2015, 7:59 PM
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Originally Posted by rlw777 View Post
^ maybe they're reviving Goldberg's river city master plan. Lol
LOL indeed. Astonishing to imagine, actually.
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  #27908  
Old Posted Mar 25, 2015, 8:03 PM
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ithakas ithakas is offline
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Also, thought it would be a good time re-post this speculative proposal for the northern site: http://www.evolo.us/competition/big-...rises-in-wood/

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  #27909  
Old Posted Mar 25, 2015, 8:05 PM
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Skyguy_7 Skyguy_7 is offline
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I think language here is part of the problem. Calling a neighborhood "shoddy," when often the ones that get gentrified first are fully functional areas that simply are economically structured to best serve lower-income residents is dismissive and patronizing and insulting. Snip.
It is often the case when functional areas become gentrified, but I wasn't speaking for those. My remark was blanket, so I should have been more specific. What's insulting is this- when residents let their neighborhood turn to absolute shit, gorgeous grey stones demolished in favor of an empty lot, crime, garbage, vandalism, drunks, more garbage. Vibrant parkland (Douglas, Garfield, Washington) rendered unusable unless you're a bum or a rapist. It is the opposition to gentrification in [I]these[I]neighborhoods that send a shiver down my spine. Too lazy to sweep a sidewalk, paint a fence or patch a roof, but they have time to attend a city meeting to stand in the way of the free market. My job has taken me to every hood in this city and nothing infuriates me more than this. The fear evoked by simply driving down Homan or Roosevelt should be unheard of in the greatest city in the world. My point is that portions of OUR city have been ruined by idiots, so any development or contribution to better it is a Godsend and should be welcomed by all.

Case in point :
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  #27910  
Old Posted Mar 25, 2015, 8:30 PM
Via Chicago Via Chicago is offline
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Originally Posted by Skyguy_7 View Post
Vibrant parkland (Douglas, Garfield, Washington) rendered unusable unless you're a bum or a rapist. It is the opposition to gentrification in [I]these[I]neighborhoods that send a shiver down my spine.
http://www.wbez.org/why-dont-black-c...entrify-111247
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  #27911  
Old Posted Mar 25, 2015, 8:52 PM
SamInTheLoop SamInTheLoop is offline
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Originally Posted by wierdaaron View Post
CMK owning the land between River City and Roosevelt isn't news, but them buying the land north of River City would be.

Seems unlikely that those two lots could be connected, unless they built over River City (LVDW??????) or tunneled under it.

I've probably said it before, but I'm very excited about the notion of these lots getting developed, and CMK has a decent eye for design, but outside of condo projects they haven't shown much diversity in project type. You could use these lots for a big mixed-use development with mall-like retail.

Someone here said that Lend Lease is planning to hit Chicago hard with a new development, which lead to speculation that they're going to revive the Lake Meadows megaproject, but maybe they're going to hit hard in the South Loop.


This is huge news indeed. The news here is that 1) CMK actually has closed on these purchases, including the big 5 acre lot due west of RC (they only were under contract previously, - this is a big investment, and they're not making it contingent on any new/changed entitlements, and 2) That they are teaming up with the international powerhouse developer Lend Lease (not just the US gc) to do this.

Lend Lease has been - over the past 1-1.5 yrs. working on landing a large urban regeneration project in Chicago to kick off their (re)entry into the US development business. I'm saying that I believe this megaproject has now in fact been publicly identified..........

I think this is going to be huge.....
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  #27912  
Old Posted Mar 25, 2015, 8:53 PM
SamInTheLoop SamInTheLoop is offline
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I am Hydrogen, Via Chicago, Emathias, Kenmore - on Gentrification:

Thanks for not being simpletons. Such a refreshing and at times seemingly rare quality in this day.


There's been some interesting research recently (can't quite place it, or I would cite/link-to), that delved into the racial/ethnic aspect as far as neighborhoods that get gentrified. Neighborhoods that are above a certain percentage African American either just don't gentrify, or it happens at a comparatively glacial pace. By contrast, neighborhoods that are majority - or have at least a significant Latino percentage, and an African American percentage that doesn't reach a certain (forget where this lies, maybe 30-40%?) level are almost exponentially more ripe for gentrification.........

The Latino neighborhoods that are truly port-of-entry communities are particularly interesting. What I think a lot of folks don't realize in many cases are some of the implications of these being truly immigrant nabes............for instance, just an example - although social mobility is disturbingly declining and already much lower than many think (you know, this being 'Mearca 'an all), there being a constant influx of new immigrants (which is a very, very healthy phenomenon for this city and society, btw - I'll have to excuse you're by all appearances weird and shocking, almost fox-newsesque ignorance on the subject, baronvonellis) implies what common sense demands it does - that there are also a large number of families constantly moving out of these neighborhoods - and in many cases, at least somewhat upwardly mobile families. Where are they going? In some cases, definitely still to other areas of the city, but increasingly, the at least marginally more affluent Latinos are flocking to the suburbs - largely but I suppose not exclusively the southwest, west and northwest suburbs. I find this particularly true for Chicago's Mexican population (although I'm sure to at least an extent it also applies to the Puerto Rican and other Latino populations as well), as the vast majority of Mexican immigrants to Chicago are not coming from the large cities (Mexico City, Guadalajara, Monterrey, etc), but rather rural areas up to small/med size cities. To them, reaching the middle class is often about the sfh and the car(s) and the yard, and space, etc etc and not at all assocated with urban living. My hope is that this would begin to change at least incrementally over time.........Broadly though, in this way, the Latinos are no different than Whites or for that matter African Americans who live in city neighborhoods and form families and reach the middle and upper-middle classes......they are still in large part departing for the suburbs at this stage in life.

I suppose what I'm trying to say is that one potential partial solution to the gentrification 'dilemma' is that with time, and most importantly with improved neighborhood schools, gradually more Latinos in the immigrant nabes that move into the middle and upper middle class may see staying in and investing in Pilsen, Brighton Park, McKinley Park, Little Village, Back of the Yards, Humboldt Park, Logan Square, etc etc as a viable option, and this may make for an all-around healthier evolution for these gentrifying neighborhoods.....
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  #27913  
Old Posted Mar 25, 2015, 9:17 PM
Stunnies23 Stunnies23 is offline
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Originally Posted by i_am_hydrogen View Post
If gentrification is a way to earn an easy buck selling one's home for a profit, then why is there so much opposition to it in these neighborhoods? Just yesterday, I was reading about some locals who put protest signs on a coffee shop that opened recently in Logan Square. I think many residents, parents in particular, would prefer to remain in the community where they've chosen to raise their kids. They don't want to uproot their lives, put their kids in a new school, make new friends, etc.

Having said that, I'm not arguing against any positive change in poor and marginally poor neighborhoods. In my original comment, I acknowledged that there are benefits to gentrification. I just think there should be more of a balance between maintaining the character of the neighborhood and accommodating an influx of new residents.
I didn't say that they absolutely had to sell. Instead, they can build massive amounts of positive equity on their home. I don't want to force any homeowners out either. But renters aren't homeowners. If you don't want your monthly payment to jump from year to year, then don't rent. Buy a house instead. If you don't own an equity stake in your community and it gets much better via gentrification, then you missed out on a great investment opportunity. It's simple economics.
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  #27914  
Old Posted Mar 25, 2015, 9:25 PM
SamInTheLoop SamInTheLoop is offline
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^ Yeah, there's something simple here, but it's not the economics.........everyone here should read Emathias' and Via Chicago's posts on the previous time, then re-read them......than re-read it again, and if you still don't get it, read them for a fourth time..........after that, you may just be a lost cause......
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  #27915  
Old Posted Mar 25, 2015, 9:25 PM
Ryanrule Ryanrule is offline
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Originally Posted by i_am_hydrogen View Post
If gentrification is a way to earn an easy buck selling one's home for a profit, then why is there so much opposition to it in these neighborhoods? Just yesterday, I was reading about some locals who put protest signs on a coffee shop that opened recently in Logan Square. I think many residents, parents in particular, would prefer to remain in the community where they've chosen to raise their kids. They don't want to uproot their lives, put their kids in a new school, make new friends, etc.

Having said that, I'm not arguing against any positive change in poor and marginally poor neighborhoods. In my original comment, I acknowledged that there are benefits to gentrification. I just think there should be more of a balance between maintaining the character of the neighborhood and accommodating an influx of new residents.
most dont own.
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  #27916  
Old Posted Mar 25, 2015, 9:38 PM
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Skyguy_7 Skyguy_7 is offline
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Originally Posted by SamInTheLoop View Post
^ Yeah, there's something simple here, but it's not the economics.........everyone here should read Emathias' and Via Chicago's posts on the previous time, then re-read them......than re-read it again, and if you still don't get it, read them for a fourth time..........after that, you may just be a lost cause......
It's an intelligent, thought provoking post. Too many social and economic issues account for both the positive and negative aspects of Gentrification. We could go on and on. Also, notice how he didn't belittle anyone who differed in opinion? Worth re-reading if you didn't catch that.. .... .....
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  #27917  
Old Posted Mar 25, 2015, 9:55 PM
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A guy who manages one of my properties and himself owns property says there is some decent condo construction going on in Brighton Park.

I never get down there, but I was curious if anybody else here knows anything about this?
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  #27918  
Old Posted Mar 25, 2015, 10:13 PM
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Originally Posted by wierdaaron View Post
CMK owning the land between River City and Roosevelt isn't news, but them buying the land north of River City would be.
But Lend Lease Joining in IS big, Lend Lease has mad capital. This could lead to a major development on these parcels. I'm very excited as what is planned.
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  #27919  
Old Posted Mar 25, 2015, 10:15 PM
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^I can't attest to the condo construction, but many of the surrounding elementary schools are busting at the seams. In fact, there's a $30 million annex about to break ground at Edwards Elementary, just west of Brighton park, in Archer Park. It's about the same size as the new Lincoln addition in LP.
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  #27920  
Old Posted Mar 25, 2015, 10:30 PM
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In less exciting but still good news, the zoning commission approved at least some zoning changes for 4025 N Broadway which is 6 stories and 20 units. It goes it'll go place of a vacant Ace Hardware.

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