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-   -   CHICAGO | City Casino (https://skyscraperpage.com/forum/showthread.php?t=239761)

RockfordSoxFan Mar 24, 2022 1:16 AM

I'm one of the 11 that voted for Tribune site. i still stand by that proposal.

rivernorthlurker Mar 24, 2022 2:24 PM

Quote:

Originally Posted by sentinel (Post 9577017)
Ultimately, I suspect it'll go the Hard Rock Chicago, because based on the report alone, it may have the 2nd largest annual economic impact ($185 million), but it will support the highest number of jobs, over 19,000.

Agree. Additionally the 78 is the lowest/smallest by several measures, even more extremely so if the observation deck were not to be built.

And the 78 has the latest completion dates in both temporary and permanent, especially for the temporary portion by a full year (page 8 Table 2).

IMO I don't think the 78 will be picked, and I think it's really One Central vs Tribune site. Ultimately I think the Hard Rock will be chosen as well.

I'm not a fan of the Tribune proposal so I suppose I'd prefer One Central.

Klippenstein Mar 24, 2022 2:31 PM

Quote:

Originally Posted by rivernorthlurker (Post 9577515)
IMO I don't think the 78 will be picked, and I think it's really One Central vs Tribune site. Ultimately I think the Hard Rock will be chosen as well.

Ok, I hear your argument against the 78 site, but what about Tribune? You’re just assuming that the grand possibility of keeping the Bears will overwhelm the senses of the mayor? Or that there’s a back room deal?

It’s not really my favorite design, but I just voted for Tribune after holding off my vote because I think it’s the safest bet. I think the city doesn’t want to take any chances with this and ONE Central is the long shot.

r18tdi Mar 24, 2022 2:41 PM

Does anyone really expect the city to pick the best proposal? I certainly don't. This is a political process, not a design competition.

ardecila Mar 24, 2022 2:49 PM

Quote:

Originally Posted by Klippenstein (Post 9577013)
Why can’t Blommer Chocolate just use the upper tracks and abandon the lower tracks?

Good question. I think they use both. Looks like the lower track is used for tanker cars carrying milk, and the upper track is used for cars carrying sugar.

Quote:

Originally Posted by Randomguy34 (Post 9577008)
^ Bally's said they'll develop the portion of the transitway that runs through their site. It'll be for bus & bike use only

Page 17: https://www.chicago.gov/content/dam/...port_FINAL.pdf

I read that too. The language is confusing. There is an existing PD covering the site that includes certain commitments; Bally's would take over that PD and they would be on the hook for those commitments even if they change the allowed uses to permit a casino. But the PD doesn't require them to build the transitway, they just need to leave space for it to be built in the future.

rivernorthlurker Mar 24, 2022 3:56 PM

Quote:

Originally Posted by Klippenstein (Post 9577530)
Ok, I hear your argument against the 78 site, but what about Tribune? You’re just assuming that the grand possibility of keeping the Bears will overwhelm the senses of the mayor? Or that there’s a back room deal?

It’s not really my favorite design, but I just voted for Tribune after holding off my vote because I think it’s the safest bet. I think the city doesn’t want to take any chances with this and ONE Central is the long shot.

I was mostly going by sentinel's logic with the very high job creation (and didn't even consider the Bears thing) - which breaks down into Hard Rock having 50% more long term operating jobs and almost double phase one Bally's construction jobs. The Rivers McCormick and Bally's McCormick which were apparently nixed were on the low end of economic impact and jobs as well so I feel like this indicates their priorities around that.

Additionally Bally's at Tribune is broken down into two 'Phases' so there is some uncertainty around that while Hard Rock seems to be one big commitment.

Also Hard Rock shows two quarters earlier permanent completion which would mean like an extra $90M for the city if that happens (but there's a footnote where the plan commission doesn't believe that's realistic :))

Who knows where all these numbers come from, but this is just how I view the situation.

west-town-brad Mar 24, 2022 5:23 PM

do these projections/commitments have any teeth in them?

west-town-brad Mar 24, 2022 6:14 PM

Quote:

Originally Posted by r18tdi (Post 9577552)
Does anyone really expect the city to pick the best proposal? I certainly don't. This is a political process, not a design competition.

for this reason I see the most pro-development alderman being the winner, which means the tribune site will win. (burnett's ward)

already the aldercreatures covering the south side options are complaining for more oversight, which could slow and or straight up kill any casino development in their wards even after being granted the license

jpIllInoIs Mar 24, 2022 7:45 PM

One Central cannot win, that whole project smells like corporate welfare. As soon as they would be awarded the license they will begin talking about Infrastructure needs. Is access over the Rail Row required? Has anyone talked to CN? And then the whole "Shops of Rosemont" DSLSD light treatment.

marothisu Mar 24, 2022 7:51 PM

Originally I was the most for the Tribune site until I saw The 78. The more I read and re-read, the more I am equally for the Tribune site. As Chicago sheds it's very industrial past and goes towards the future, I find this just as important. These parts of the city near the expressway are weird in an industrial way. Especially as these companies move elsewhere. This is a prime location. Traffic concerns apart from this, I might be becoming more pro Tribune site now.

The 78 is going to happen regardless of this casino or not. But the Tribune site may lay dormant for another decade if the casino does not go there. It might be more attractive to actually not have a casino at the 78 TBH because of DPI. A high pct of residents are against it so thr alderman may side with them anyway.

The city will go with what makes the most economic sense which might be the Tribune site. Only way I see Hard Rock happening is if there's a legit deal struck with the Bears to keep them in the city. Otherwise I think the Tribune site will be chosen.

rivernorthlurker Mar 24, 2022 8:19 PM

Quote:

Originally Posted by marothisu (Post 9578013)
Originally I was the most for the Tribune site until I saw The 78. The more I read and re-read, the more I am equally for the Tribune site. As Chicago sheds it's very industrial past and goes towards the future, I find this just as important. These parts of the city near the expressway are weird in an industrial way. Especially as these companies move elsewhere. This is a prime location. Traffic concerns apart from this, I might be becoming more pro Tribune site now.

The 78 is going to happen regardless of this casino or not. But the Tribune site may lay dormant for another decade if the casino does not go there. It might be more attractive to actually not have a casino at the 78 TBH because of DPI. A high pct of residents are against it so thr alderman may side with them anyway.

The city will go with what makes the most economic sense which might be the Tribune site. Only way I see Hard Rock happening is if there's a legit deal struck with the Bears to keep them in the city. Otherwise I think the Tribune site will be chosen.

From the commission document

Quote:

Further explanation of the proposed construction costs
is needed from Hard Rock Chicago. The Hard Rock Chicago
proposal is to build the casino in a phase I of the “Entertainment
District” of the broader ONE Central development. The original
RFP submission estimated the total cost of the casino
construction was $1.7 billion and an additional estimated
$550 million civic build. The $550 million is Landmark’s
estimates of the phase I costs of the $3.8 billion civic build
for the total One Central development. The City does not have
enough information to determine the reasonableness of this
$550 million estimate. As a part of the City’s evaluation
process, Hard Rock Chicago communicated that it found
cost savings which now allows it to fold these civic build
costs into the same $1.7 billion in construction costs.

Quote:

At this point, no City public investment for infrastructure has
been asked for or committed toward this project. However, the
ONE Central project has been actively seeking $3.8 billion in
financing from the State through a P3 agreement repaid through
state sales tax revenues subordinate to the State’s Build Illinois
bonds. As noted earlier, Hard Rock Chicago would commit
that the estimated $550 million of the $3.8 billion will be built
regardless of the status of the P3 agreement.
This doesn’t
preclude Landmark from continuing to seek the P3
agreement and state funding for the project.
Quote:

Hard Rock Chicago would secure a completion guarantee for
its lenders and agrees to fund its equity upfront when the
financing closes.
Sounds pretty enticing (too good to be true?) if Hard Rock is just gonna foot a half a billion dollars for the first part of the One Central Development. How true this is in practice might be a different story probably based on factors I don't totally understand.

I am the same feeling the 78 will happen regardless. The Tribune Site is too juicy too that it will happen regardless, yes in 5 to 10 years maybe (the casino isn't suppose to open until 2026 anyway). The One Central Development is very much in doubt. If this is a catalyst for that to happen, then I'm for it.

Additionally living close to the Tribune Site, I sort of think it's a bit of a disaster access wise. The Ontario and Ohio ramps are nightmares basically every day of the week at rush hour already. There's not direct access from the highway and you'll have to do a bit of driving around some ultra congested streets on weekends. Additionally I'm not a fan of a casino being plopped so close to low income housing on Chicago between Larabee and Hudson. I suppose it will create jobs but it just feels a bit icky to introduce gambling to a low income area like that.

I haven't seen it mentioned, but lake access would be pretty sweet with the Hard Rock. I can imagine day cruise all the way from Indiana to Wisconsin that take you to the casino and back, not to mention Navy Pier as well. Though I suppose that's still possible with the Tribune Site.

Randomguy34 Mar 24, 2022 8:34 PM

^ I've been dooming the past couple months about One Central being the city's pick. If it's true they have private capital to fund the civic build, then hopefully that'll kill the chance of them getting billions of public tax dollars.

west-town-brad Mar 24, 2022 8:42 PM

sorry to say but if one central is the pick, don't expect to ever seen this thing get built

a temporary casino location will be created but nothing more...

it's too complicated, too many private parties involved, too many interrelated governmental bodies, too much political will required across multiple administrations at the state and city level, its like the worst investment proposal you could imagine

the tribune site is simple and easy in comparison

BVictor1 Mar 24, 2022 9:22 PM

For those wanting to sign up for the town halls...

Bally's
https://www.eventbrite.com/e/the-chi...s-303051764987

Hard Rock
https://www.eventbrite.com/e/the-chi...aff=erellivmlt

Rivers 78
https://www.eventbrite.com/e/chicago...aff=erellivmlt

Randomguy34 Mar 24, 2022 10:29 PM

Quote:

Originally Posted by BVictor1 (Post 9578182)
For those wanting to sign up for the town halls...

Bally's
https://www.eventbrite.com/e/the-chi...s-303051764987

I might go to the Bally's townhall just to be inside the Tribune printing facility before its eventual demolition

lakeshoredrive Mar 24, 2022 10:33 PM

Quote:

Originally Posted by BVictor1 (Post 9578182)

Thanks for sharing this. I think I will attend the Rivers 78 town hall.

ardecila Mar 25, 2022 4:41 PM

Quote:

Originally Posted by west-town-brad (Post 9578111)
sorry to say but if one central is the pick, don't expect to ever seen this thing get built

a temporary casino location will be created but nothing more...

it's too complicated, too many private parties involved, too many interrelated governmental bodies, too much political will required across multiple administrations at the state and city level, its like the worst investment proposal you could imagine

the tribune site is simple and easy in comparison

Agreed that the Tribune site is simpler, but I think they can pull off Hard Rock. Bob Dunn very clearly owns the air rights over both Metra and CN railroads. These were sold by Illinois Central in the 1970s and any developer wishing to build there has had a clear path to do so. Making the numbers work is the hard part, which is why Dunn is asking for billions in taxpayer money to build the deck.

Mr Downtown Mar 25, 2022 6:55 PM

Well, I'm not sure how much of those air rights can actually be used without first redoing Weldon Yard to allow supporting columns.

As I study the site, it occurs to me that any structure built east of the original railroad tracks—and there'd have to be some, perhaps 25 percent of the site area—will be subject to the same Public Trust Land challenge that doomed the Lucas Museum.

Chi-Sky21 Mar 25, 2022 7:17 PM

Friends of the railyards are gonna be all over that!

r18tdi Mar 26, 2022 12:08 AM

Today's 42nd Ward newsletter:
Quote:

Alderman Reilly has heard from many constituents regarding the proposed Tribune Publishing location, as it is very close to the 42nd Ward boundary and would directly impact many residents. Alderman Reilly takes constituent input very seriously and knows neighborhood residents are clearly opposed to the Tribune proposal. The Alderman has already communicated his serious concerns about the Tribune proposal to members of the Lightfoot Administration and will reiterate those concerns when the Special City Council Casino Committee is convened next month.
Translation: Brendan has heard from his chums at RNRA and they speak for the entire ward.


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