CHICAGO | Optima Phase II | 588 FT | 57 FLOORS - Page 5

SamInTheLoop · #81 Posted **Jan 28, 2015, 3:36 PM**

Quote:

Originally Posted by chrisvfr800i

Building permit has been delayed due to some design changes. It's expected any day. Look for things to ramp up in the next week or so.

This is good news - thanks for sharing. The other thing I'd noted (not that I necessarily assumed there was a definite direct connection to the work pause here) is that a few months ago, when Crain's reported that work was starting, there was no construction debt financing in place at that time (aside: this is something we're seeing a bit more of, and I suspect will continue to somewhat over the course of this year/maybe next, I'll explain the factors behind in another thread). Chris, would you happen to know if financing has been wrapped-up and closed on Optima II?

As others have stated, I'm also looking forward to this one starting to take shape!

chrisvfr800i · #82 Posted **Jan 28, 2015, 8:14 PM**

Quote:

Originally Posted by SamInTheLoop

This is good news - thanks for sharing. The other thing I'd noted (not that I necessarily assumed there was a definite direct connection to the work pause here) is that a few months ago, when Crain's reported that work was starting, there was no construction debt financing in place at that time (aside: this is something we're seeing a bit more of, and I suspect will continue to somewhat over the course of this year/maybe next, I'll explain the factors behind in another thread). Chris, would you happen to know if financing has been wrapped-up and closed on Optima II?

As others have stated, I'm also looking forward to this one starting to take shape!

Not sure about the $$, but I'd be surprised if all that money was spent on caissons without financing. Of course it's happened before...including on the very site where OCCII will stand!!

SamInTheLoop · #83 Posted **Jan 29, 2015, 3:49 PM**

k.......one other question if I may - when you say design changes, I'm assuming you meant some details that don't materially impact the exterior appearance of the design.........was that one assumption too many for me??

chrisvfr800i · #84 Posted **Jan 29, 2015, 3:54 PM**

Quote:

Originally Posted by SamInTheLoop

k.......one other question if I may - when you say design changes, I'm assuming you meant some details that don't materially impact the exterior appearance of the design.........was that one assumption too many for me??

Yes, just changes to the structure.

SamInTheLoop · #85 Posted **Jan 30, 2015, 3:39 PM**

^ Thanks for confirming!

rlw777 · #86 Posted **Feb 23, 2015, 3:31 PM**

Chicago Architecture blog posted a Status Update

Looks like there is still little to no activity on site. I think last I heard they were waiting on some permits. Anyone know what's going on with this?

the urban politician · #87 Posted **Feb 23, 2015, 6:19 PM**

^ Permits take forever sometimes in this city

MV2 · #88 Posted **Apr 18, 2015, 2:56 AM**

Quote:

Originally Posted by rlw777

Chicago Architecture blog posted a Status Update

Looks like there is still little to no activity on site. I think last I heard they were waiting on some permits. Anyone know what's going on with this?

I spied a 'Concrete Structures' small mobile crane on site this afternoon.

SamInTheLoop · #89 Posted **Apr 20, 2015, 11:42 AM**

^ Good to hear!

rlw777 · #90 Posted **Apr 27, 2015, 2:36 PM**

Still stalled? Anyone been over to see this lately?

mattshoe · #91 Posted **Apr 27, 2015, 10:46 PM**

I walked by this afternoon and the small 'Concrete Structures' small crane that MV2 mentioned is still just sitting there.

the urban politician · #92 Posted **Apr 28, 2015, 2:44 AM**

Definitely quite the delay here, I hope there isn't another issue than just that

chrisvfr800i · #93 Posted **May 1, 2015, 5:18 PM**

Quote:

Originally Posted by the urban politician

Definitely quite the delay here, I hope there isn't another issue than just that

A little birdie told me activity might...MIGHT...start back up within a month.

Notyrview · #94 Posted **May 1, 2015, 5:23 PM**

Hi little birdie! coo coooo!

SamInTheLoop · #95 Posted **May 1, 2015, 6:52 PM**

^^ Thanks.....I know some of us are starting to get our feathers a little ruffled with this sleeping site...........my best guess is that Hovey and Co had second thoughts about starting superstructure construction without financing (smart move for the most part as going their earlier planned route can be some seriously risky business) yet finalized - and they likely weren't even yet on the verge of loan closing(s) several months ago..........

chrisvfr800i · #96 Posted **Jun 18, 2015, 1:57 PM**

It looks like the alley adjacent to the site has been fenced off....

munchymunch · #97 Posted **Jun 21, 2015, 5:28 PM**

Permits on Chicago cityscape for foundation, 55 stories.

chrisvfr800i · #98 Posted **Jun 21, 2015, 6:15 PM**

The three magic words of construction were received last week: "Notice to Proceed!!"

stevevance · #99 Posted **Jun 22, 2015, 5:14 AM**

Quote:

Originally Posted by munchymunch

Permits on Chicago cityscape for foundation, 55 stories.

Here's the foundation permit, FYI. This week's crane permit is a revision (well, replacement) of last year's crane permit.

LouisVanDerWright · #**100** Posted **Jun 22, 2015, 4:47 PM**

Shovels already back in the ground on this one as of this morning. There's about a dozen guys in hard hats walking around who look like supervisors and engineers and at least one excavator going at it digging up the cassion heads.