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  #161  
Old Posted Feb 28, 2017, 8:38 PM
Rocket49 Rocket49 is offline
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As an uniformed layperson, I was curious how the FAR thing works development wise.

My understanding is that if a developer wishes to build a rather tall building they might add a plaza area or the like to enable them to meet any zoning requirements re FAR

But it sounds like they can make a donation to some sort of community development fund to buy a waiver for having too high a FAR?
     
     
  #162  
Old Posted Feb 28, 2017, 9:30 PM
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Quote:
Originally Posted by SamInTheLoop View Post
Just thought I'd post the news in this thread that the project is showing up on the Plan Comission meeting agenda in 2 weeks....
That info is in the previous three posts.


Quote:
Originally Posted by Rocket49 View Post
As an uniformed layperson, I was curious how the FAR thing works development wise.

My understanding is that if a developer wishes to build a rather tall building they might add a plaza area or the like to enable them to meet any zoning requirements re FAR

But it sounds like they can make a donation to some sort of community development fund to buy a waiver for having too high a FAR?

FAR or Floor Area Ratio is said number times the area of the sight and that'll roughly give you the square footage of the area. You can get bonuses and with the changes in zoning, you can now also buy additional FAR. Height tends to be more about zoning. The downtown area usually has a DC (downtown core) or DX (downtown mixed-use) zoning. D zoning doesn't have a height limit.
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  #163  
Old Posted Feb 28, 2017, 10:32 PM
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^^^
Thanks for the info
     
     
  #164  
Old Posted Feb 28, 2017, 11:48 PM
SamInTheLoop SamInTheLoop is offline
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Quote:
Originally Posted by BVictor1 View Post
That info is in the previous three posts.

Not as of the actual time of my post though, of course - thus my "in this thread" (they were moved by a mod from the high-rise thread only afterward).......since their time stamp pre-dates my post, they of course show-up above mine and appear as if they were posted in this thread earlier than they were....
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  #165  
Old Posted Mar 16, 2017, 1:03 AM
chicubs111 chicubs111 is offline
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"Office tower with Riverwalk access proposed along Wacker Drive"



"If the development is approved by the commission, and then by the City Council, the developers plan to demolish the squat, grayish, 226,000-square-foot building. In its place, they would start construction on a 1.35 million-square-foot trophy tower on the site as soon as October, according to information on the project from real estate data company CoStar Group"


http://www.chicagotribune.com/busine...15-column.html
     
     
  #166  
Old Posted Mar 16, 2017, 1:15 AM
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^^^^^^
"As soon as October"??? If true and all goes through with this and Wolf point east, I guess that means 130 Franklin is going to have a hard time getting tenants to sign. Unless they got something up their sleeves.
     
     
  #167  
Old Posted Mar 16, 2017, 2:07 AM
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^ Wolf Point East is going to be residential
     
     
  #168  
Old Posted Mar 16, 2017, 2:39 AM
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^ Wolf Point East is going to be residential
My bad. Was thinking of south.
Im still begging for 130 franklin.
     
     
  #169  
Old Posted Mar 16, 2017, 3:15 AM
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No way this gets started this October or even this year (could be soon afterwards, though). I know there's talk of BoA, but they need a concrete anchor first.
     
     
  #170  
Old Posted Mar 16, 2017, 3:22 AM
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^ How do you know they don't have one (or aren't close) unless you have some insider info?
     
     
  #171  
Old Posted Mar 16, 2017, 3:51 PM
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APPROVED!









A few notes...

-Setbacks 4, 25, 39, 54 floors

-base 300’ long

-lower level docking area along river

-$19,500,000 for the neighborhood opportunity fund

-in conversation with a number tenants

-$19M annually in property taxes
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  #172  
Old Posted Mar 16, 2017, 4:15 PM
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Smile

Maybe we'll get lucky and it'll get up to 850'

Last edited by Notyrview; Mar 16, 2017 at 5:07 PM.
     
     
  #173  
Old Posted Mar 16, 2017, 4:59 PM
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^ How do you know they don't have one (or aren't close) unless you have some insider info?
I don't have any insider info. Just being realistic. Definitely hope I'm wrong, though!
     
     
  #174  
Old Posted Mar 16, 2017, 5:29 PM
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Originally Posted by the urban politician View Post
^ How do you know they don't have one (or aren't close) unless you have some insider info?
Every new office proposal comes with often overly optimistic talk of tenants and start dates. Every developer makes it seem like tenants are just around the corner for the same reason that a used car salesman tells customers he had a bunch of other people looking at the car you're interested in. They have to present it as being in demand they want potential tenants to feel an urgency about acquiring space. I don't think there's any reason to think of this as being anything more than the standard marketing and salesmanship at this point.
     
     
  #175  
Old Posted Mar 16, 2017, 5:48 PM
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Estimated cost of the project is roughly $600,000,000.
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  #176  
Old Posted Mar 16, 2017, 5:51 PM
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Quote:
Originally Posted by BVictor1 View Post
-lower level docking area along river
The view from the river doesn't show any stairs from the upper walkway to the lower one. I'm assuming that lower level is all private? And the boat dock would be their private docking area?

It's a cool feature. We took a party cruise once as a work party, would be sweet to get picked up right there at the building. Would there be any option for the river taxi to drop off there?
     
     
  #177  
Old Posted Mar 16, 2017, 5:56 PM
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^It was mentioned as being private. No need for river taxi as you're walking distance from the train and you have the water taxi at the Daily News Building.
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  #178  
Old Posted Mar 16, 2017, 6:12 PM
MakeChicagoGreatAgai MakeChicagoGreatAgai is offline
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Originally Posted by BVictor1 View Post
Estimated cost of the project is roughly $600,000,000.
Is that all? I'll take two!
     
     
  #179  
Old Posted Mar 16, 2017, 6:24 PM
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Great.. More blue glass with silver mullions. Everything along the river is starting to blend together.
     
     
  #180  
Old Posted Mar 16, 2017, 7:05 PM
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DAAAMMMNN SON


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