HomeDiagramsDatabaseMapsForumSkyscraper Posters
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > General Development

Reply

 
Thread Tools Display Modes
     
     
  #39301  
Old Posted Yesterday, 6:21 AM
LouisVanDerWright LouisVanDerWright is offline
Registered User
 
Join Date: Jul 2012
Posts: 3,569
Quote:
Originally Posted by the urban politician View Post
I think RS3 permits 2 flats
It actually doesn't because the MLA per unit is 2,500 SF so unless you have a 5,000 SF lot (160% of a standard lot) you can only have one unit.
Reply With Quote
     
     
  #39302  
Old Posted Yesterday, 1:54 PM
Randomguy34's Avatar
Randomguy34 Randomguy34 is offline
Registered User
 
Join Date: Apr 2013
Location: Chicago & Haverford College
Posts: 773
Here's a great article by Steve Vance showing that you can only build SFH in about 41% of the city b/c of RS-3 Zoning: https://blog.chicagocityscape.com/it...e-8966c4ab3327


Orange is SFH only, and blue is everything else
Reply With Quote
     
     
  #39303  
Old Posted Yesterday, 2:00 PM
harryc's Avatar
harryc harryc is offline
Registered User
 
Join Date: Jun 2007
Location: Oak Park, Il
Posts: 8,542
Bubble ?

Shameless plug for my old editor.

Is the Downtown Apartment Bubble Bursting?

Quote:
With an expected 5,000 new rental units in the first quarter of 2018, some developers are offering up to three months rent free to lure new tenants.

BY AJ LATRACE
__________________
Harry C --- Chicago rep for SkyRise Cities ---- My Flickr stream HRC_OakPark
The man who trades freedom for security does not deserve nor will he ever receive either. B Franklin.
Reply With Quote
     
     
  #39304  
Old Posted Yesterday, 2:22 PM
Randomguy34's Avatar
Randomguy34 Randomguy34 is offline
Registered User
 
Join Date: Apr 2013
Location: Chicago & Haverford College
Posts: 773
^ To be fair, LaTrace did say that demand will end up shifting to South Loop and West Loop (which is what we're currently seeing) rather than a complete burst throughout all of downtown. While River North is cooling off, many project will soon be starting for South & West Loop as both areas are heating up
Reply With Quote
     
     
  #39305  
Old Posted Yesterday, 3:23 PM
IrishIllini IrishIllini is offline
Registered User
 
Join Date: Nov 2015
Posts: 350
Quote:
Originally Posted by Randomguy34 View Post
^ To be fair, LaTrace did say that demand will end up shifting to South Loop and West Loop (which is what we're currently seeing) rather than a complete burst throughout all of downtown. While River North is cooling off, many project will soon be starting for South & West Loop as both areas are heating up
Isn't absorption still holding up for the most part?

I am excited to see the west and south loops built up. Could you imagine the changes we'd see if Amazon does set up shop here?
Reply With Quote
     
     
  #39306  
Old Posted Yesterday, 3:47 PM
OhioGuy OhioGuy is offline
Registered User
 
Join Date: Jul 2004
Location: DC
Posts: 6,985
Quote:
Originally Posted by Randomguy34 View Post
^ To be fair, LaTrace did say that demand will end up shifting to South Loop and West Loop (which is what we're currently seeing) rather than a complete burst throughout all of downtown. While River North is cooling off, many project will soon be starting for South & West Loop as both areas are heating up
IF River North is cooling off, is that at all concerning for One Chicago Square. A portion of the overall development includes rentals, doesn’t it? Or is River North still trustworthy enough for such an expensive development if the quality is high enough to lure tenants who otherwise may be more inclined to search the South or West Loop?
Reply With Quote
     
     
  #39307  
Old Posted Yesterday, 4:24 PM
k1052 k1052 is offline
Registered User
 
Join Date: Oct 2007
Posts: 1,101
Quote:
Originally Posted by OhioGuy View Post
IF River North is cooling off, is that at all concerning for One Chicago Square. A portion of the overall development includes rentals, doesn’t it? Or is River North still trustworthy enough for such an expensive development if the quality is high enough to lure tenants who otherwise may be more inclined to search the South or West Loop?
The market for One Chicago Square is more Gold Coast-ish than River North IMO.
Reply With Quote
     
     
  #39308  
Old Posted Yesterday, 4:27 PM
Randomguy34's Avatar
Randomguy34 Randomguy34 is offline
Registered User
 
Join Date: Apr 2013
Location: Chicago & Haverford College
Posts: 773
Quote:
Originally Posted by OhioGuy View Post
IF River North is cooling off, is that at all concerning for One Chicago Square. A portion of the overall development includes rentals, doesn’t it? Or is River North still trustworthy enough for such an expensive development if the quality is high enough to lure tenants who otherwise may be more inclined to search the South or West Loop?
JDL mentioned that since OCS won't be finished until 2021, they're not too concerned about the current cooling off.
Reply With Quote
     
     
  #39309  
Old Posted Yesterday, 4:57 PM
the urban politician the urban politician is online now
The City
 
Join Date: Jul 2004
Location: Libertyville, IL
Posts: 13,298
Right, but at some point we need to see an apartment construction slowdown for that to be true, or else everybody will be saying that and will proceed to build new projects. The banks need to slow down lending.
Reply With Quote
     
     
  #39310  
Old Posted Yesterday, 5:42 PM
Khantilever Khantilever is online now
Registered User
 
Join Date: Jun 2017
Posts: 77
Quote:
Originally Posted by the urban politician View Post
Right, but at some point we need to see an apartment construction slowdown for that to be true, or else everybody will be saying that and will proceed to build new projects. The banks need to slow down lending.
Demand is still creeping upward though. There’s always going to be some uncertainty and randomness in the short run - but the fundamentals still look strong.
Reply With Quote
     
     
  #39311  
Old Posted Yesterday, 10:21 PM
LouisVanDerWright LouisVanDerWright is offline
Registered User
 
Join Date: Jul 2012
Posts: 3,569
Quote:
Originally Posted by Randomguy34 View Post
Here's a great article by Steve Vance showing that you can only build SFH in about 41% of the city b/c of RS-3 Zoning: https://blog.chicagocityscape.com/it...e-8966c4ab3327


Orange is SFH only, and blue is everything else
He said the other day that only 4% of Rosa's ward allows multifamily. Who knows how low that will be if he downzones Milwaukee...
Reply With Quote
     
     
  #39312  
Old Posted Today, 12:10 AM
Vlajos Vlajos is offline
Registered User
 
Join Date: Mar 2011
Posts: 1,059
Quote:
Originally Posted by IrishIllini View Post
Isn't absorption still holding up for the most part?

I am excited to see the west and south loops built up. Could you imagine the changes we'd see if Amazon does set up shop here?
We were pace for a record year earlier for absorption. Haven't anything recently though.
Reply With Quote
     
     
  #39313  
Old Posted Today, 1:58 AM
Rocket49 Rocket49 is offline
Registered User
 
Join Date: Jun 2013
Location: Chicago
Posts: 112
Quote:
Originally Posted by Randomguy34 View Post
Here's a great article by Steve Vance showing that you can only build SFH in about 41% of the city b/c of RS-3 Zoning: https://blog.chicagocityscape.com/it...e-8966c4ab3327


Orange is SFH only, and blue is everything else
The image says that houses must be at least 2,500 sq. ft to satisfy zoning requirements?

Seems to me that it would be the lots that must be at least 2,500 sq ft.
Reply With Quote
     
     
  #39314  
Old Posted Today, 1:58 AM
kolchak kolchak is offline
Registered User
 
Join Date: Mar 2008
Location: California
Posts: 232
Not sure if this got mentioned here but this was just approved for Downtown Evanston. It replaces IMHO a tired stretch of Sherman and will add life to that area and help bridge the gap between Downtown and Dempster. I know a few old buildings will bite the dust and I am generally opposed to this but this is ok.

https://chicago.curbed.com/2017/11/1...nt-development
Reply With Quote
     
     
End
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > General Development
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 5:51 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.