Quote:
Originally Posted by Mojava
This is certainly not a very positive story in my eyes. It shows desperation from a developer. These are the same practices that Invesco has done over the years and all of their buildings lead the city in foreclosures.
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Yeah, but the data on which that inference is drawn (that pre-arrangements to lease units are correlated with Invesco-esque outcomes) is unique to the American marketplace. In Europe similar practices are not correlated either with bad outcomes or with desperation.
I wish that theme had been developed with more nuance (and less sensationalism) by Crain's. It seems many journalists here are so wary of appearing to be "homers" that they rush to display snarky skepticism about any ambitious, global-stage projects proposed for Chicago. The Spire is a case-in-point: It's rising despite, and not with the help of, Crains' coverage.