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  #1  
Old Posted Jun 5, 2019, 7:35 AM
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Cool CHICAGO | One Central

I wanted to create a thread for anything 'One Central'. This may or may not be something, but it'll be fascinating nonetheless.

Help contribute thoughts and ideas.....



https://www.chicagobusiness.com/greg...op-megaproject

GREG HINZ ON POLITICS
May 31, 2019 06:48 PM UPDATED 10 HOURS AGO
State makes multibillion-dollar commitment to South Loop megaproject

Illinois could be on the hook for billions if a provision aimed at speeding up construction of a megaproject near Soldier Field is approved this weekend by lawmakers.

GREG HINZ
On Politics

Quote:
The state of Illinois potentially will be on the hook for more than $5 billion in equity and financing costs if a provision to speed construction of a megaproject near Soldier Field is approved by the General Assembly in this weekend’s extended spring session.

Elements of the deal for the huge One Central project have been in the discussion stage for weeks, with Bob Dunn of Landmark Development meeting with House Speaker Mike Madigan, Deputy Gov. Dan Hynes and other officials.

But actual language didn’t surface until Friday afternoon, when it was included in a must-pass budget implementation bill.
click here and go to pages 876, 904, 922, 941 and 978
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Old Posted Jun 5, 2019, 7:49 AM
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Old Posted Jun 5, 2019, 8:01 AM
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https://www.chicagobusiness.com/greg...ront-lawmakers


GREG HINZ ON POLITICS
June 04, 2019 11:39 AM UPDATED 14 HOURS AGO

One Central megaproject draws fire from south lakefront lawmakers

Officials cite local concerns about the real estate development west of Soldier Field that's in line to receive up to $5.1 billion in state funds—and demand a voice. But the developer insists locals will be fully involved.



GREG HINZ
On Politics


Quote:
Perhaps pushed by neighborhood opposition, four lawmakers who represent the South Side lakefront have written Gov. J.B. Pritzker urging him to go slow on finalizing any deal for an up to $5.1 billion state investment in the proposed One Central megadevelopment on air rights west of Soldier Field.

In a letter dated May 31—the date the General Assembly authorized state officials to negotiate a contract finalizing a One Central deal without coming back to lawmakers—Sens. Mattie Hunter and Robert Peters, and Reps. Kam Buckner and Lamont Robinson all cited strong local concerns about the size of the project, which eventually could cost $20 billion or more.

All four officials are Democrats and represent the area around Soldier Field.

“Since this project could adversely affect residents, we ask you to make a commitment to us that you will not approve any agreements, regulatory changes or make any administrative decisions related to this project before consulting with local legislators,” the four wrote. “As representatives of this district we should have been notified.”

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Old Posted Jun 5, 2019, 2:17 PM
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Based on the little I know about this project, the fact that the state is willing to throw $5 billion at it is terrifying..
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  #5  
Old Posted Jun 5, 2019, 2:29 PM
animositisomina animositisomina is offline
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What is terrifying is how the developer wanted Legislative approval to be fast tracked for this Spring Session.

So much happened this weekend but language associated with this project was tucked into the BIMP:

https://capitolfax.com/2019/05/31/me...into-the-bimp/


Quote:
The state of Illinois potentially will be on the hook for more than $5 billion in equity and financing costs if a provision to speed construction of a megaproject near Soldier Field is approved by the General Assembly in this weekend’s extended spring session.

Elements of the deal for the huge One Central project have been in the discussion stage for weeks, with Bob Dunn of Landmark Development meeting with House Speaker Mike Madigan, Deputy Gov. Dan Hynes and other officials.

But actual language didn’t surface until Friday afternoon, when it was included in a must-pass budget implementation bill.

(If you want to read it for yourself, click here and go to pages 876, 904, 922, 941 and 978.)

The provisions would create a new Civic Transit and Infrastructure Fund. It would collect and disburse tax funds owed to a private developer “pursuant to the public private partnership entered into by the public agency on behalf of the state of Illinois to the Public-Private Partnership for Civic and Transit Infrastructure Project Act enacted in this amendatory act.” […]

Under the bill, the state would begin to pay $200 million a year to the private developer starting in 2023—presuming a contract is negotiated, and the big transit station that Dunn promises is operational then. The state would give him $200 million that year, with annual payments rising to $445 million in 2045.
If there was an actual need for this project then it should be 100% backed by private funds. If they believe they can make money on this project then roll the dice and take the gains/losses. We should not be on the hook for a transit hub that really isn't wanted or needed.

The bill gives the current administration the ability to negotiate with Landmark:

https://therealdeal.com/chicago/2019...ate-lawmakers/

Quote:
Though the bill passed Saturday gives his administration the power to negotiate with Landmark, Pritzker would not sign off on a fundraising project without engaging with local elected officials and community leaders, a spokesperson said. Pritzker also will work to address the lawmakers’ concerns that minority contractors and local labor be included in the project, his spokesperson said.

Pritzker told the Crain’s editorial board Monday the project would not even get to the negotiating table without a robust community approval process. No part of One Central has been approved by the city or state, as the development firm works to secure potential federal funding for the project.
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Old Posted Jun 5, 2019, 3:01 PM
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Anyone going to the meeting tonight? It's unclear if there's going to be new info presented or if it's just a resident "workshop" where everyone sits in circles and puts concerns on notecards...
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Old Posted Jun 5, 2019, 3:12 PM
LouisVanDerWright LouisVanDerWright is offline
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It's interesting how quickly this developer is moving to get the pols pushing their agenda. I actually don't have an issue with the state throwing money at this if it's going to upgrade transit in the area. Honestly this would be the perfect opportunity to "Gray Line" the Metra Electric...
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Old Posted Jun 5, 2019, 3:18 PM
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Quote:
Originally Posted by LouisVanDerWright View Post
It's interesting how quickly this developer is moving to get the pols pushing their agenda. I actually don't have an issue with the state throwing money at this if it's going to upgrade transit in the area. Honestly this would be the perfect opportunity to "Gray Line" the Metra Electric...
Does this area really need this level of transit upgrades, though? I can think of a lot of other transit projects I'd rather see $5 billion sent on.
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Old Posted Jun 5, 2019, 4:33 PM
Baronvonellis Baronvonellis is offline
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I think if we have $5 billions for transit an actual Circle line would be alot more useful. Or a transit tunnel from the west loop to Millennium park. Or extending the brown line to Jefferson Park. ect.
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Old Posted Jun 5, 2019, 4:35 PM
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Quote:
Originally Posted by r18tdi View Post
Anyone going to the meeting tonight? It's unclear if there's going to be new info presented or if it's just a resident "workshop" where everyone sits in circles and puts concerns on notecards...
I'll be attending.
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Old Posted Jun 5, 2019, 4:44 PM
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I’d rather see that $5b spent on the Connector or Clinton-Larrabee subway.
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Old Posted Jun 5, 2019, 11:58 PM
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This will be a fun argument starter for years to come... if the innocuous Lucas Museum could have such virulent and vociferous opponents, something that could be even more beneficial to the city will get even more rich white people complaining about losing their views! Because let's be honest, the majority of the complainers will be those losing their lake views, not people concerned about finances. They'd be quiet if the it was a few blocks behind them....
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Old Posted Jun 6, 2019, 4:01 AM
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Went to the meeting, as as expected, total NIMBY shit fest.

There was nothing new at all.

The developers wanted to have some brainstorming/charrette and ideas from the neighborhood, but they were so bitchy, out never got that far.

The developer said he's had meetings with RTA, Metra and a chat with CTA. Nothing solid, just conversation.

There was one funny thing tonight, the alderman mentioned that there are already entitlements in place, so the developer could do something now.

She told the crowd that saying no, is not an option with this... She's telling people they have an opportunity to help craft things, but with said entitlements, something gonna happen... They weren't pleased one bit. They were hoping she was just gonna shut the whole thing down..
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Old Posted Jun 6, 2019, 4:12 PM
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I was at the meeting too. It was worthless.

Alderman Dowell didn't tell the whole story. The current entitlements are not currently economically viable. Fogelson knew they wouldn't become so in his lifetime, which is the only reason Landmark/Dunn is now the developer. Dowell also mentioned old PDs. If that's true, then they have to go through the PD amendment process to build the transit hub unless it's already in there. Somehow I doubt that very much.

'No' may not be an option, but 'not in the next 15 years' is, and if Dunn isn't careful that's what he's going to get. This is the community that drags out lawsuits until you give up (winning is unimportant). That's what they did to X/O at 18th and Prairie, that's what they did to Lucas, that's what they did to the high school at NTA...

Connecting Metra BNSF to the site requires work outside Dowell's ward and outside the site that Landmark controls.
Connecting CTA Orange Line to the site requires work outside Dowell's ward and outside the site that Landmark controls.
Dunn has never mentioned anything about the South Shore railroad, which uses the tracks and is significantly impacted by the project. You've got 3 or 4 congressional districts outside of Illinois that have an interest here.

I would really like to see this site developed, but dear lord are they screwing it up.
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Old Posted Jun 6, 2019, 10:47 PM
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I'm proud of my prediction being correct already
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Old Posted Jun 7, 2019, 11:54 AM
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Glad that Lightfoot seems to get it. If Illinois was left to be on the hook for this underperforming transit center it could derail PT in the city and region for decades. We can't waste valuable resources on this hot mess of an idea.

Quote:
https://www.chicagoreporter.com/lori...ield-surprise/


Lori Lightfoot blasts One Central’s Springfield surprise
Chicago’s new mayor criticized developer Bob Dunn for slipping authorization for $5 billion into the state capital budget for a giant new transit hub next to Soldier Field.
By Headshot of Curtis Black Curtis Black | 46 mins ago

......In a brief meeting Wednesday, Mayor Lori Lightfoot blasted developer Bob Dunn for slipping authorization for $5 billion into the state capital budget for his One Central development without consulting local legislators.

That money is for a giant new transit hub next to Soldier Field, which would provide the structural support for Dunn’s $20 billion residential and commercial development over Metra train tracks.

“I don’t like the way that they are conducting themselves,” Lightfoot told the Sun-Times, adding that she isn’t sure “it would be a city priority to have a transportation hub in that location.” With a huge backlog of transit repairs, she said, “I’m not sure that’s where we should be spending limited resources.”........
..
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Old Posted Jun 7, 2019, 6:24 PM
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Also attended the meeting. It was painful how non-committal everyone was trying to be.

I spoke to one of the planners from Perkins+Will, and he was unaware that Amtrak had plans to re-route all trains away from their site, nor that the Grand Crossing project which would build that new route was just funded in the very same bill that also promised funding for One Central.

I don't fault Dunn for going to the state first; as brian_b mentioned, building the platform with private funding just isn't viable given the expected rents from South Loop development. Given the rancor around Lincoln Yards, it's just too much of a risk these days to spend millions performing design work and due diligence if there is no guaranteed funding for the public infrastructure. Sterling Bay at least had Rahm in their corner, but Dunn cannot count on the unwavering support of Mayor Lightfoot to ram anything through.

The only thing I did take away is that the project team is open to ideas concerning the infrastructural piece of the development, so long as they can hit their target FAR. The problem is, this site really could be a great transit hub but that would require changes to our transit network on a regional level and its governance. The arrival of a private partner and up to $5B in funding doesn't change the fact that Metra hates the idea of running Metra Electric like rapid transit, CN owns the only line connecting Metra Electric to the rest of the rail network and doesn't want to share, and CTA is too narrowly focused on state-of-good-repair projects or social-justice based projects like Red Line extension. That's sad, because $5B is more than enough to establish a CrossRail service that would link One Central directly to O'Hare, Union Station and Hyde Park.
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Last edited by ardecila; Jun 7, 2019 at 6:34 PM.
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Old Posted Jun 14, 2019, 2:36 PM
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Mayor Lori Lightfoot says ‘jury’s out’ on whether One Central megadevelopment will proceed

https://www.chicagotribune.com/polit...613-story.html

Quote:
Illinois legislators this spring authorized state officials to enter into an agreement for up to $5.1 billion in state investments for the proposed megadevelopment along Lake Shore Drive across from Soldier Field that would place a huge transit station over train tracks between McCormick Place and the Field Museum.

Creation of the transit center would bring together CTA, Metra and Amtrak trains, while also creating the platform on which Landmark Development would build up to 20 million square feet of new office, residential and hotel high-rises, as well as other buildings.

The development could take about 15 years to complete at a cost of about $20 billion, not including transit center costs, the developer previously said.

Lightfoot was asked about the project at an unrelated news conference and said what the developer received from Springfield was an opportunity to be eligible for federal dollars. Then she reiterated concerns she’s previously expressed about the project.

“I met with them and I think I gave an unequivocal guidance which is that they can’t ignore public comment, they can’t ignore elected officials whose jurisdictions are implicated by the possibility of this,” Lightfoot said. “I’m not sure that having a transportation hub in that area is a priority for us, but fundamentally, the message that we left them with is that they have to go through the normal department of planning process and there aren’t going to be any shortcuts to that.”

Asked whether it’s a question of how the project develops, not whether it develops, Lightfoot said, “No, I think I’ve just said, I have questions as to whether or not we need a transportation hub.”

The developer is “going to have to make the case and they’re going to have to go through a rigorous community process, there are going to be residents along the western border of the proposed project that are going to be deeply affected by high-rises going up and blocking their view of the lake,” Lightfoot said. “They have to submit themselves to a vigorous community engagement and we made that unequivocally clear. The jury’s out as to whether or not this project proceeds. We won’t know that until they go forward.”
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Old Posted Jul 12, 2019, 10:44 PM
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From my 3D model:















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Old Posted Jul 12, 2019, 11:58 PM
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While I'm 99% sure this all will never happen, that is breathtaking. I wonder how long our skyline would be compared to Manhattan's...
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