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Old Posted Jan 4, 2022, 4:27 PM
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ardecila ardecila is offline
TL;DR
 
Join Date: Jun 2006
Location: the city o'wind
Posts: 15,674
The whole PD is based on Bill Davies' kooky plan for the Post Office which was honestly too overstuffed. They asked for the moon and they got it (building height, FAR, density, you name it) but they also committed to a ton of costly infrastructure. I'm guessing from 601W perspective this looked like a bad deal since they still have all the same costly infrastructure commitments even if they scale down the development plans to what the market will bear. 601W didn't shy away, they took on the project and all the risk and completed Phase I. Now they reap the rewards of a huge and successful office building, but the Phase II and Phase III in the PD are really fanciful. Not sure if those phases can actually be built without 601W going back to City Council to renegotiate the terms of the PD.

For now, these Phase II/III entitlements have not lapsed so they still have the ability to build a supertall on the Sugar House site if they want up to 2000', or a highrise on the Holiday Inn site (minus that crappy little retail building with Harold's Chicken which is not part of the PD).

More likely, I think we get a residential highrise (not supertall) on both sites eventually. The PD allows up to 6,769 residential units and 1,240 hotel rooms. I suppose there's an outside chance that Chase or somebody else comes in demanding a signature office tower, and this is the only riverfront site that's already entitled for such a tower... but it's south of Congress, so that may be a dealbreaker for big anchor office tenants.
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