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Old June 1st, 2008, 05:56 PM   #1601
The Urban Politician
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Quote:
Originally Posted by PrintersRowBoiler View Post
However, I have been a proponent of maintaining the Status Quo of public parking in th South Loop. I will continue to feel that Fiortetti should figure out a way to offer residents a place to park or their guests to park after their public parking is swept out from uder their feet as the new developments move forward.
^ Why? Why must parking be provided for "guests" as a mandate? That makes absolutely NO sense to me whatsoever. Why you (or any of those morons in your neighborhood) think that this should be mandated at the Aldermanic level is ludicrous, just ludicrous to me.

If there is a demand for parking, developers will build parking garages. Plain and simple. It has happened in the Loop, it has happened in River North ("green" garage planned by developer in River North, from Crains last week).

And, of course, there is always that expensive but underutilized transit system, as well--an alternative that NOBODY will bother turning to as long as your unnecessary parking mandates keep the cost of parking artificially low. Do you not remember saying this:

And they are fighting for more parking so that parents can drive down to see their kids music recitals when the red line stops literaly in front of the school and the blue, orange, brown, and pink line stop 2-3 blocks away.
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Old June 1st, 2008, 09:40 PM   #1602
PrintersRowBoiler
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The green parking garage in River North (if you do the math the construction cost alone is projected to be about $60K-$70K per stall, is feasible for the developer because he owns half of River North and the rest of his developements will benefit from the garage. Yes, they have parking garages in the Loop, but the cost for parking in the central business district is funded by business expense accounts - and the Printers Row residents should not be expected to shell out $20 for 2 hours of parking.

I dont want to see parking CREATED, I want to see it MAINTAINED. If they take 250 stalls out to build a high rise, I think somewhere 250 public stalls should be provided elsewhere.

The difference with Jones College Prep is that they want to place parking on State Street, which is not a desirable place in my opinion. It is also different because they want to CREATE parking instead of relying on public transit.
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Old June 2nd, 2008, 12:41 AM   #1603
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Quote:
Originally Posted by PrintersRowBoiler View Post
and the Printers Row residents should not be expected to shell out $20 for 2 hours of parking.
^ Why not?

Quote:
I dont want to see parking CREATED, I want to see it MAINTAINED. If they take 250 stalls out to build a high rise, I think somewhere 250 public stalls should be provided elsewhere.
^ Okay, then if the demand is there a private developer will build a garage to replace those 250 stalls. Why does the city have to force it on anyone? The city pays for maintaining roads, sewers, and for running the trains & buses--if people want cars then let them pay for it. I see no justification for the city mandating that X parking stalls must be maintained in a given neighborhood just so that it can be cheap for you.
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Old June 4th, 2008, 06:50 PM   #1604
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http://www.chicagorealestatedaily.co...ws.pl?id=29676

By Alby Gallun, June 04, 2008
Sources familiar with the property say Mr. Warman continues to seek investors to buy part or all of a 52-story mixed-use tower he wants to build on the site, 300-310 N. Michigan Ave., currently home to a Walgreens, RadioShack and Subway restaurant...............
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Old June 4th, 2008, 11:16 PM   #1605
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Aloft Millennium Park
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Old June 5th, 2008, 01:23 AM   #1606
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Spy,
This project was supposed to begin March '08:
http://www.ecdco.com/aloftmilleniumpark.htm
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Old June 5th, 2008, 01:32 AM   #1607
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..

Last edited by Loopy; May 19th, 2010 at 03:03 AM.
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Old June 5th, 2008, 06:00 AM   #1608
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From the aloft website:

aloft Chicago Millennium Park - Opening February 1, 2010

http://www.starwoodhotels.com/alofth...ropertyID=3021
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Old June 5th, 2008, 08:09 AM   #1609
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Nice tower!
__________________
“Eventually, I think Chicago will be the most beautiful great city left in the world.” Frank Lloyd Wright
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Old June 5th, 2008, 09:01 PM   #1610
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I understand how they're trying to capitalize on the Millennium Park name, but seriously... it's 6 blocks away (5 south and 1 west.) For comparison, Nordstrom's is also 6 blocks away (5 north and 1 west.) Not exactly honest marketing.
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Old June 6th, 2008, 11:27 PM   #1611
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I think they're betting that most visitors won't differentiate between Grand Park and Millennium Park.
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Old June 7th, 2008, 09:11 AM   #1612
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..]

Last edited by Loopy; May 19th, 2010 at 03:03 AM.
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Old June 7th, 2008, 09:57 AM   #1613
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Quote:
Originally Posted by Loopy View Post
Rokas International in trouble with the G.

http://www.suntimes.com/business/roe...elop06.article
On a personal note, thanks for nothing A.A. I hope the feds track you down....that is, if some of your shady business partners didnt get to you first.
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Old June 7th, 2008, 10:32 AM   #1614
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..

Last edited by Loopy; May 19th, 2010 at 03:25 AM.
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Old June 8th, 2008, 05:33 PM   #1615
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Quote:
Originally Posted by Loopy View Post
^EuroWhoopin? Or more local, say F&G?
Russian 'lenders'.
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Old June 9th, 2008, 05:15 AM   #1616
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Quote:
Originally Posted by Loopy View Post
Rokas International in trouble with the G.
http://www.suntimes.com/business/roe...elop06.article
Rokas had an office suite next to the office suite of the company I worked for downtown… and their receptionist was hot. Now it’s empty... (they disappeared like after Christmas).
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Old June 11th, 2008, 04:49 PM   #1617
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http://www.chicagorealestatedaily.co...ws.pl?id=29776

South Loop condos get $50-million construction loan
By Eddie Baeb, June 11, 2008


Sedgwick Properties Development Corp. has landed a $50-million construction loan for a new, 180-unit condominium building in the South Loop, in a deal that seems to defy the downtrodden condo market.

Dubbed Terrazio, the seven-story building is going up at 1935 S. Wabash Ave., thanks to the loan inked last month from Amalgamated Bank’s LongView Ultra Construction Loan Fund.
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Old June 11th, 2008, 05:41 PM   #1618
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..

Last edited by Loopy; May 19th, 2010 at 03:25 AM.
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Old June 11th, 2008, 07:01 PM   #1619
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http://www.chicagobusiness.com/cgi-bin/news.pl?id=28466

Joint venture to buy South Loop dorm

By: Alby Gallun March 05, 2008

(Crain’s) — A joint venture including student housing operator Scion Group LLC has agreed to pay $75 million for a 694-bed dormitory under construction in the South Loop.

Chicago-based Scion and ASB Capital Management LLC of Bethesda, Md., are buying the Dwight Lofts, a 16-story building at 626 S. Clark St. scheduled to open in time for the fall semester, says Scion President Robert Bronstein.

Scion, a minority partner in the joint venture redeveloping the property, is essentially bringing in a new investor to buy out its partner, Chicago-based developer Smithfield Properties LLC.

-----------

Further down in the story it says that they're marketing directly to students, without commitments from any of the schools in the area, which is making their debt less attractive. I wonder if that will also mean that this will be the party dorm of the area, since there would be no direct connection between the housing and the schools. It will also be interesting to see what this does for retail in the area, as it moves the center of student population significantly westward.
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Old June 11th, 2008, 07:14 PM   #1620
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Last edited by Loopy; May 19th, 2010 at 03:26 AM.
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