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Old Posted May 11, 2011, 3:30 PM
Nowhereman1280 Nowhereman1280 is offline
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Join Date: Sep 2006
Location: Pungent Onion, Illinois
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^^^ Interesting, this was one of the rumors I had referenced a few months ago. I had heard Related was snooping around at WV and has some pretty interesting plans for the site. Hopefully they can get all the terms of their LOI worked out and translated to a real, binding, agreement to move forward. I also think it is best that they continue to work with the current creditors instead of trying to buy them out and purchase the property outright.

From what I've heard one of the configurations in consideration by Related would involve a tower nearly as tall as Waterview originally was intended to be. Depending on how the economics work out, the availability of financing, and the continued boom in rents I've heard numbers as high as 80-83 floors of apts tossed around.

This is just my speculation, but I would also imagine that Related would build with the intent of converting it to condos when the market recovers which would hopefully mean higher floors and more height. They aren't really in the business of building and owning apartments.