Quote:
Originally Posted by the urban politician
My wager on what will get built "this cycle":
Will make it:
OCS -- developer has landed some seriously dope luxury condo deals just a few blocks north of that, is flush with cash, and probably doesn't need condo presales.
400 N LSD -- Related pulled it off with OBP, must be getting good sales numbers, has a lot of financial backing. They will pull this off too. Although far from the main shopping/nightlife parts of town, it is a STELLAR location, perhaps the best, plus you're near Navy Pier and LSD. Great place for a pied a terre. They'll get it done
XXXXXXX -- these won't make it, imagine a loud "buzzer" sound:
Tribune Tower -- sorry guys, not enough room for 4. Great location, but I don't see this team pulling off the Batman Tower quite yet. Better luck next decade
WPS -- again, great tower but if it's going to be some sort of mix user, hybrid office thingy, I just don't think we have enough market absorption yet for this. And residential? Condos? Possibly chances would improve, but I don't know if this team has the track record for high end condos the way JDL and Related do.
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WPS will be built... eventually. I don't see Hines not finishing up this up, they have deep pockets and are more than capable of waiting out a recession.
The Tribune proposal I am more worried about. The old TT condo conversions will probably have no problem, but I don't see the addition getting built this cycle, and I'm not sure the existing design will survive any upcoming recession. Its such a big project, Golub/CIM might consider unit/height reduction and a possible redesign if it doesn't get started in this market cycle. Hopefully I'm wrong.