Found the article. It's a quote from David Reifman, so I assume it is accurate.

https://chicago.suntimes.com/busines...-developments/

Also appears in a presentation that Reifman gave (PDF):
https://documentersprodassets.blob.c...aringFINAL.pdf

That picture on page 11 is insane how the river bended into the area and the miles of train tracks that were removed.

Hmmm. The Taylor Street Bridge seems a little less than certain, given that it's listed as a "previously planned improvement" and has no TIF money actually allocated to it.

April 26, 2019

I hope we get a tower or two near/behind the OPO soon to balance out the view from the south branch riverwalk.

I've thought this same thing a few times.

^^^It's funny to see that field of finely graded topsoil so close to the loop and the IH tractor to boot!

Took a stroll through the new riverfront park portion of Southbank (I think this is still the correct thread(?)

Of note are the below images. The path directly in front of the new builidnig has this little sign next to it. Perhaps noting that construction will start on the southernmost tower fall of 2020? Anyone have news on the next stage of this development?

https://i.ibb.co/30BQnBV/IMG-7935.jpghttps://i.ibb.co/jG5Kv2Y/IMG-7934.jpg https://i.ibb.co/g35CLwS/https-blogs...k-1200x790.jpg

^ I am puzzled over why LendLease has not yet begun work on its second tower at Southbank.


Frankly, along the same lines I also question why CMK hasn't launched their first Riverline tower.

They aren't renting out many units. Need to prove they can fill one building before the bank gives them a loan for another tower

Once Post Office tenants start arriving, should help move this development along

You've seen occupancy stats for the Cooper that are underperforming LendLease's expectations to-date?

^Agreed. It sometimes feels like a snoozefest in that area of town.

That's a great point.

Numbers I heard at a lecture is that The Cooper is 60% leased and 50% occupied and this was from 1 month ago.

Which is pretty crazy because NEMA is already almost at those figures and only just opened. The Cooper has been open for over a year now. Very slow, but like others mentioned, the OPO might be the kick in the butt needed to fill out another 25% and then they can feel good to start the next one

Ok....that's something to go on.

First move-ins of the 452 unit project were in September last year. And they were 60% leased by this July. Seems to me they were well on their way to having themselves a stabilized asset 12-14 months after opening. To me it seems pretty typical.

While the OPO could only be a positive, I don't think it's some huge driver either. Southbank-Riverline stands on its own based on its location a handful of blocks from the CBD. I don't see its success as being somehow dependent on a re-energized SW Loop commercial center (again, it will only help though of course)...

The area's character definitely attracts residents who are not looking to live amongst tons of nightlife and 3am activity. More about convenience to the Loop, the Lakefront, cultural amenities - and yes, convenience to the nightlife without living on top of it.

One hundred percent agree. I live in the snoozefest of Dearborn Park and I love it. The Riverline being even farther removed from State Street and Michigan avenue would likely be even quieter.

I"m not so sure. Wells will be very busy when the punch it through to Chinatown, Harrison has so much traffic you can barely drive through there, and you can hear a constant hum of traffic from Ida B. Wells. Then you have the Metra trains sitting there running their engines...

Trying really hard not to yuck your yum.

Don't :yuck: my :D bro.

Some pictures from the park from earlier today:

https://lh3.googleusercontent.com/zF...=w1307-h980-no


https://lh3.googleusercontent.com/hl...=w1307-h980-no

https://lh3.googleusercontent.com/rd...A=w735-h980-no

I really like this. The wood and natural rock are nice choices I think.

I wonder if they are partially mirroring that on where we live in Long Island City (Queens). We really enjoy having access to it right in back of our place. Riverline could possibly be similar in the end minus the skyline view.

Looks like a nice sampling for what to expect. So far so good

Hello, neighbor ;)

Definitely. There are old iron bridges, much like the gantries along the East River. The only things that are missing are hammocks, some willow trees, and a futuristic library that seemingly will never open to the public.

No doubt a lot of these public spaces are influenced by each other. I have a friend that works for the Detroit parks department. Her team took a trip over to New York City to visit parks, including Governor's Island, as they plan to further develop Belle Isle. And I am sure that Governor's Island has partially influenced what Rham and his team tried to do on Northerly Island.

It makes sense. Copy successful projects. The pictures above reminded me a little of Gantry. It's so nice when you live right there too. I hope Riverline has a few restaurants or something too. I just can't imagine 3000 units with almost nothing right there.

P.S. you live in LIC? TFC? Lol would be funny if we are neighbors in the same building without even knowing it.

Yep! Just moved here a couple months ago, following my wife around the country for her job. I'm over by Queens Plaza, so I doubt we are in the same building. PM me if you would like to grab a drink sometime. I could use a friend or two in the area and have been itching to try out some of the breweries in the area.

Uhhh I just moved from LIC > Jackson Heights... is that close enough to join in?

^ Funny. We are over next to the river. I'll have to let you know - next few months are hectic with work and pulling off a wedding.

I'm digging the park and riverwalk, as I knew I would. Hoerr Schaudt did a really nice job here.

From this evening off of Wells. 8/19/19

https://live.staticflickr.com/65535/...659741a4_b.jpg

Sunnyside checking in...

I guess it is official; we are going to have to schedule a forum meetup for Queens this fall.

You're only allowed to do that if you plan to talk about Chicago's greatness...

Naturally. By the way, I'll be at Citi Field to watch the Cubs on 8/28 if anyone wants to join me.

A bit of a hike from Jersey City, but I could probably make it work. :)

I already have tickets bought for the 8/28 Cubs game! And I’ve heard from coworkers that the games are so empty you can move up and sit pretty much wherever!

Okay now I’m just waiting for these posts to be moved to the appropriate thread, although I am very excited to see he Riverline Park when I’m home for the holidays (if that’s enough to make this relevant!).

Not a New Yorker, but I had the same thought while walking thru Riverline Park last week. Very similar to the NY waterfront developments, both in Queens and Brooklyn.

Also, the design is just much better than what we've gotten in the past in Chicago... compare this to Montgomery Ward Park at Kingsbury/Erie - very basic, generic, uninspired design there at a VERY similar site.

I think big developers now are realizing they need to up their landscape game. Sterling Bay hired James Corner for Lincoln Yards and Related has used Van Valkenburgh for several Chicago projects now. Kudos to Lendlease for hiring Hoerr Schaudt and keeping it local, though.

Just a random small piece of news on leasing progress at The Cooper - in Crain's article today on leadership change at the Chicago office of Lendlease, mention that it is now approximately 80% leased.

I can see the Cooper from where I live, and based on the completely unscientific observation of how many windows are lit, I'm going to say that sounds accurate.

Drumroll... Let's start the next high-rise!

And when the old post office comes on line - particularly if there' an exit onto Harrison - there will be thousands of workers two blocks away. Walk across the bridge and you're home.

And I have to assume Uber hires much younger than your average company, so far fewer people will be suburban commuters you'd have to assume based off that... Yes, I'm doing a lot of assuming so my hopeful side stays positive lol

Every time I read about a new highrise breaking ground these days (1000M, Cirrus, Cascade, etc.), I think, these developers must know something that we don't. Maybe they have inside scoops on corporate relocations, so they know their new additions will be justified.

But with all the action happening in the southwest Loop with the Old Post Office opening, the BMO tower site preparations, and 601c buying up 801 S Canal, it surprises me that no other Southbank towers have broken ground. You would think that of the literal thousands of new employees who will be working in the area, some would like to be able to walk to work, and this development is a prime candidate for a place to live.

If the windows at night are any indication, Cooper is enjoying a healthy lease percentage. Where's the site prep for tower 2?

Anyway, just some thoughts this morning.

I imagine soon. Maybe our spies will report a soil tester on site. I hope they start on the tower to the west of The Cooper. Nice facade.

For what it's worth, there's a sign in front of the path that runs along the town homes on the west side of The Cooper that reads "Private Property - Not Part of Southbank Park - Temporarily Available to Public Until Construction Fall 2020."

That sign has been there since the opening, and I always thought it was a way to absolutely protect themselves from any claim of public property.