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Originally Posted by ardecila
I think a more likely scenario is launching the East Tower as condos first before the South Tower. Then Hines could wait for the next market cycle to launch office leasing for the South Tower. The location is near irresistible for office tenants, there just aren't many large tenants looking for space at top rates right now.
That said, I'm not sure offhand if it's practical to build the South Tower after the East is completed. Seems pretty difficult from a construction standpoint, but I'm sure they could stage from the lower level somehow, or from a barge if they had to.
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I'm not sure what you're referring to. More likely than what? The programming for the east and west towers haven't been announced. We do know that there will be a hotel, office and residential component to the rest of the development. The most logical arrangement of those components based on what usually gets built in Chicago would be that the south tower would be hotel and condo while the east tower would be office.
I say that because generally speaking as someone pointed out above office stands alone. But also notice that the east tower is the general size of just about every office tower proposal we've had the past few years and that usually when a developer combines hotel and condo they go for height and use some of the hotel services for the residences.
Quote:
Originally Posted by J_M_Tungsten
From a construction standpoint, wouldn't building both at the same time be best? Wishful thinking though
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Good question. I don't know but I would think it's probably better to build the south tower first and then the east tower for logistical reasons. It makes sense to use the footprint of the east tower for staging materials for the south tower. Then with the east tower you would have to use the street.