Quote:
Originally Posted by SamInTheLoop
Happened to catch something in the Chicago Gazette that potentially hasn't been reported here yet. Buried in an article about a redevelopment of the Pompei restaurant on Taylor St, which would involve a new 4 story building (3 floors of around 50 apartment units above a new Pompei - so positive news in better use of the site there), it's mentioned that there have been "ownership changes" at the Ashland/Taylor high-rise site and that they have "prevented the plan from moving forward." So, bad news there....looked to be a nice project and pretty sharp design.
Also, I did not realize that this was to be a two-tower project, apparently, as the article mentioned "SCIO owners planned to erect the first of two apartment towers facing Ashland..."
https://gazettechicago.com/2020/01/n...redevelopment/
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Good to hear about Pompei. Taylor Street is a faint shadow of what it could be, plus it is harmed by a giant crater in the middle at Roosevelt Square.
For SCIO, I wonder if the renovations to the two existing towers did not bring in the kinds of rents that Guggenheim was hoping for, so they soured on this market. It’s a shame since they only use one of the two parking garages... the other one just sits empty so it’s crying out for redevelopment.