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Originally Posted by Buckman821
Not sure why I'm being misinterpreted so much. My point is, if they are waiting to see how pre leasing goes before they decide what to build, then what exactly makes this a spec tower?
They have financing, which is a nice leg up, but that is only part of the battle. In general the exec's comment makes me less sure that we will ultimately see construction.
I'd still say its probably the most realistic of all the proposals but my confidence is wavering.
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This classy building is a definite go. Hines would like to start and have the pilings in for the elevated plaza by the time the snows come. Next Spring, Hines would like to start building the plaza - from east to west. Once constructed, the plaza will serve as the staging area for the tower. Once the tower tops out, the plaza will be finished and landscaped. (The City has a perpetual recorded easement over much of the plaza.)
The only "problems" with the neighbors are the nighttime construction necessary for the plaza at 444 W. Lake, the snow removal on the sloped Lake Street sidewalk and the increased traffic (cars and pedestrians) and railroad crossing on Canal Street.
Most residents in the area accept the fact that it is unavoidable - night lighting and night construction noise will be present. Hours and noise levels need to be set. But, the usual NIMBYs actually like the development, realize that it is inevitable and see it as an improvement to the neighborhood.
Hines just has to promise it will maintain snow removal on Lake Street and talks are beginning about infrastructure improvements (new sidewalks, curbs, railroad gates, traffic patterns, etc.) on Canal Street. That infrastructure work is long overdue. Plus, Google is coming to the Merchandise Mart and something pretty large is going to be built on Wolf Point.
Hines may not have tenants yet. But, it will find them. (It had before the crash for this site.)
The only thing I would add is for there to be another path from the plaza to the Riverwalk from the north section of the plaza. Right now, the only access to the Riverwalk is provided at the south end of the plaza by an elevator or stairs at the north side of the Lake Street Bridge.