Tuesday, May 11, 2021

Developers of 1000M Look to Restart Project this Fall

The saga continues at 1000M high-rise (via Urbanize Chicago):

Construction work on "1000M," at stalled 73-story residential high-rise at 1000 S. Michigan Avenue, could resume as early as this fall, its developers revealed Wednesday at a virtual community meeting hosted by Ald. Sophia King.

New York-based developers Time Equities, JK Equities, and Oak Capitals were forced to hit pause on the Helmut Jahn-designed project last summer when sluggish condo sales combined with pandemic-related economic uncertainty led lender Goldman Sachs to pull its financing for the estimated $470 million skyscraper.

Besides the drama of the go-stop-go of this project, an unfortunate piece of news emerged over the weekend as the famed architect of this proposed building and many others - Helmut Jahn - was killed in a bike accident in the northern suburbs. Jahn was 81.

Not sure what that means for this building, but would be nice to see this one actually happen given this sad piece of news.

No comments: