Quote:
Originally Posted by SamInTheLoop
So if recent experience of other substantial Chinatown developments are a guide, this may be due to open in.....2037? 2045?? That might be optimistic.....probably looking at well into the second half of the 21st century....
I think it's likely that we're looking at some overbuilding of retail and restaurant space in and around Chinatown.....based on what's been built recently/under construction now/and in the pipeline - in light of macro retail trends - that's the key.
Don't get me wrong - I'm certainly pro-retail development. It's just that the demand likely won't be there for as much space as is in the works.
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Not so sure about it. Keep in mind that the Chicago MSA has added almost 20K people born in China between 2010 and 2018. There is a demand for new retail and restaurants. Additionally, with the 78 phase 1 happening, it should add some more demand.
I think also that many people who dont know how China is underestimate this stuff. I cant stress enough how much demand there is for restaurants even in truly small towns in China or little areas. Idk if we'll see all of this but won't be surprised if it all does happen sometime. There's much more demand per person than people might realize in this community. There is also a bit of interest from chains from China in Chicago opening up. Multiple in the pipeline for this year.
Speaking of Chinatown, anyone have a report on how the new hotel on Wentworth is going and the warehouse on Cermak converting to a new hotel, restaurants, etc?