Quote:
Originally Posted by mhays
But hotels might be a little too existential of a question right now...
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that's what i would have thought too, but then today, the developer of this 47 story/523' mixed-use
hotel/apartment tower in chicago announced that they landed financing for their main construction loan and that work will start in august.
we also had a new 835' office tower start construction two months ago, but it's a flagship Hines project that already had Salesforce signed on to an anchor lease prior to the covid madness, so not nearly as surprising as today's announcement about the hotel/apartment tower.
still, that's two major tower projects here in chicago that have landed financing
during the pandemic, which is encouraging no matter how you slice it.