Economy Stops Chicago Skyline Expansion, Chicago Spire and other construction sites halted.
Started by RR1
over 17 years ago
Posts: 137
Member since: Nov 2008
Discussion about
...meanwhile all major New York City consturction sights continue as scheduled. WOW, Chicago is really taking a beating. How sad is that? The Chicago Spire is on hold and will probably be canceled all together, meanwhile the World Trade Center site and other NYC towers continue as scheduled. Why is that? I'm curious. I know the economy is bad, but is Chicago that undesireable? Limited residential... [more]
...meanwhile all major New York City consturction sights continue as scheduled.
WOW, Chicago is really taking a beating. How sad is that? The Chicago Spire is on hold and will probably be canceled all together, meanwhile the World Trade Center site and other NYC towers continue as scheduled.
Why is that? I'm curious. I know the economy is bad, but is Chicago that undesireable? Limited residential or commercial interest? In any case, what a shame. Oh well!
http://featuresblogs.chicagotribune.com/theskyline/2008/11/skyline-on-paus.html
"A big chill is about to hit the city of big shoulders."
"The credit crunch has staggered the city's condominium market. Although developers are expected to deliver a record-smashing 4,900 units this year, fewer than 500 units may be finished in 2010."
"How long the freeze will last is hard to predict. But it's clear that a chill has set in. And the trend reaches beyond the halt in construction on two supertall skyscrapers, including the twisting Chicago Spire (foreground, with Trump Tower in background) that promised to soar 2,000 feet above the city's lakefront."
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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
whoops...
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Response by michaelkyleh
over 17 years ago
Posts: 92
Member since: Sep 2008
Update: I just heard Chicago Spire is canceled and will never be built.
Sad indeed.
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Response by michaelkyleh
over 17 years ago
Posts: 92
Member since: Sep 2008
See, like I said...... Chicago can(COULD) build as much as they'd like, but nobody really wants to live in Chicago which those "luxury buildings" are all empty and being canceled.
I was in Chicago last week and there is a building that has been canceled and is sitting there with the frame and all still up! Weird and hideous.
There is really no "brains" and "wealth" in Chicago so I bet 1/3rd of the entire city will be standing in the unemployment lines in the weeks and months to come. Maybe they are pouring out to Indiana?
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Response by rufus
over 17 years ago
Posts: 1095
Member since: Jul 2008
Construction has slowed down in every U.S. city. But more importantly, the quality of Chicago residential buildings that have gone up in the past 5 years, is far superior to what was built in NYC during that same period.
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Response by jsmith9005
over 17 years ago
Posts: 360
Member since: Apr 2007
rufus, you forgot to use "upscale" in last response.. just a reminder...
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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
> Construction has slowed down in every U.S. city.
Uh, yeah. Rufus got nailed on all the data, and now its "yes, we suck, but others are sucking, too".
But, it is definitely more valid now that rufus is including Detroit and Tulsa in his comparisons.
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Response by malraux
over 17 years ago
Posts: 809
Member since: Dec 2007
Are you ABSOLUTELY SURE about the Spire being cancelled? That doesn't sound correct to me. I'd like to see some sort of factual back-up for that assertion.
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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
wikipedia notes it as on hold and then provides references...
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Response by nicercatch
over 17 years ago
Posts: 242
Member since: Sep 2008
Amazing.
I love going to Chicago, even contemplated buying an in-town (they don't know pied a terre) there 2 years ago. A great city. Great architecture, nice people, very cheap.Glad I did not buy.
My rule is if u see many cranes in the skyline ,it's a top (if construction is booming it's a bubble top:Dubai anybody?). So i didn't buy.
New York is much better.a world city. It is not even American in so many ways: that's why Eurotrash likes it so much :)
Anyway, have u noticed the cranes. Like a flock of birds everywhere.almost....booming.
New York is about to come back to America.
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Response by RR1
over 17 years ago
Posts: 137
Member since: Nov 2008
The Spire is on "hold" but I guarantee you, it will either be (a) canceled or (b) start up again in 5-10 years but it will be dramatically downsized and downscaled. There are already liens being filed against the developers and all the equipment have left the site.
There is no supertall or world class high-wise that has started that is "on hold" in Manhattan because even in deepest time of this downtrodden economy and recession, there will always be somewhat of a demand for NYC.
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Response by alanhart
over 17 years ago
Posts: 12397
Member since: Feb 2007
And moreover NY doesn't have the "segunda donna" complex that makes places like Chitroit and Kuala Lumpur want to build supertall.
whoops...
Update: I just heard Chicago Spire is canceled and will never be built.
Sad indeed.
See, like I said...... Chicago can(COULD) build as much as they'd like, but nobody really wants to live in Chicago which those "luxury buildings" are all empty and being canceled.
I was in Chicago last week and there is a building that has been canceled and is sitting there with the frame and all still up! Weird and hideous.
There is really no "brains" and "wealth" in Chicago so I bet 1/3rd of the entire city will be standing in the unemployment lines in the weeks and months to come. Maybe they are pouring out to Indiana?
Construction has slowed down in every U.S. city. But more importantly, the quality of Chicago residential buildings that have gone up in the past 5 years, is far superior to what was built in NYC during that same period.
rufus, you forgot to use "upscale" in last response.. just a reminder...
> Construction has slowed down in every U.S. city.
Uh, yeah. Rufus got nailed on all the data, and now its "yes, we suck, but others are sucking, too".
But, it is definitely more valid now that rufus is including Detroit and Tulsa in his comparisons.
Are you ABSOLUTELY SURE about the Spire being cancelled? That doesn't sound correct to me. I'd like to see some sort of factual back-up for that assertion.
wikipedia notes it as on hold and then provides references...
Amazing.
I love going to Chicago, even contemplated buying an in-town (they don't know pied a terre) there 2 years ago. A great city. Great architecture, nice people, very cheap.Glad I did not buy.
My rule is if u see many cranes in the skyline ,it's a top (if construction is booming it's a bubble top:Dubai anybody?). So i didn't buy.
New York is much better.a world city. It is not even American in so many ways: that's why Eurotrash likes it so much :)
Anyway, have u noticed the cranes. Like a flock of birds everywhere.almost....booming.
New York is about to come back to America.
The Spire is on "hold" but I guarantee you, it will either be (a) canceled or (b) start up again in 5-10 years but it will be dramatically downsized and downscaled. There are already liens being filed against the developers and all the equipment have left the site.
There is no supertall or world class high-wise that has started that is "on hold" in Manhattan because even in deepest time of this downtrodden economy and recession, there will always be somewhat of a demand for NYC.
And moreover NY doesn't have the "segunda donna" complex that makes places like Chitroit and Kuala Lumpur want to build supertall.