Monday, January 30, 2017

Jahn's 73-Story Tower Supposedly Will Start Construction in 2018

We've spent a ton of time talking about two high-profile (here and here), Grant Park facing developments that recently broke ground.  There is actually another one that is the tallest of the bunch, but last week we found out that this one is supposed to start in 2018 (via Curbed):
While this winter saw skyline-altering South Loop projects such as Rafael Viñoly’s One Grant Park and HPA’s Essex on the Park move forward, work on 1000M—architect Helmut Jahn’s 73-story residential tower—is reportedly at least one year away. The news comes from Robert Singer of developer Time Equities who recently told the Chicago Tribune that groundbreaking is anticipated to take place in 2018 with delivery targeted for 2021. New York-based Time Equities is co-developing the project with partner JK Equities. 
Arguably the most high-profile South Loop project of the current crop of towers produced by downtown’s building boom, the 832-foot proposal for the parking lot at 1000 S. Michigan was first revealed as a bold and boxy supertall reaching 1001 feet skyward. The design was subsequently shortened (and smoothed) following input from neighbors and elected officials and the issuance of amended guidelines for the Historic Michigan Avenue District from Chicago’s Committee on Landmarks.

However, if you look at the comment section, you'll get a different read on this story as most of the writes read this to mean the project is not happening.

While we're not real estate experts, it does seem like waiting another year would put this project way behind the aforementioned high-rises going up around Grant Park.

What do you think?

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