I found a new site plan for Riverside Park (now called Riverside District) on SCB's website. A 2008 date is given on the plan, making it newer than either the first plan by Pappageorge/Haymes or the second plan by Antunovich.
It shares certain things with the two older plans (including the preservation of the lamentable barrier along Clark
), but overall, it seems to have much more in common with Lakeshore East - it is oriented around a sizable park at the center, and surrounds the park with high-rises. Unlike the previous plans, townhomes are merely kept to mask the towers' parking podiums.
On the one hand, I like this because it places tall towers along the river, effectively extending the density of the Loop southward. On the other hand, towers contain many more units than townhomes and take longer to build, meaning that this development will take far longer to fill in. Also, the existing mega-developments of Lakeshore East, Central Station, and even LaSalle Park/Franklin Pointe are only half-completed, and those developments are far closer to the popular areas of the city than Riverside District will be.
The optimistic projections of the last decade or so of increasing interest in living downtown seem quite absurd now. Clearly, there is quite a sizable interest in living downtown, but I don't think this demand is
growing. Even at the peak of the boom, the demand was not enough to fill the buildings that were built. The existing glut of units and the difficulty of obtaining mortgages only serves to severely curb this demand. As much as it pains me to say it, I'd prefer to see this parcel remain undeveloped as a land reserve, in order to facilitate the completion of Central Station and Lakeshore East as planned, which in their lakefront locations are far more significant to the city than Riverside District will ever be. Either a different use can be found for the land, say, as an Olympic Stadium or large park, or the land can be kept undeveloped until the time is right.