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Old 11-30-2009, 11:23 AM
 
Location: Chicago
15,586 posts, read 27,641,092 times
Reputation: 1761

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Quote:
Originally Posted by Avengerfire View Post
The talks continue:

"Chicago Spire developer Garrett Kelleher is scheduled to meet Monday with leaders of AFL-CIO pension investment trusts in what is being characterized as "advanced" talks regarding the planned skyscraper's funding.

Under discussion is a potential $170 million land loan that would retire Shelbourne Development Group Inc.'s loan from Anglo Irish Bank, pay off liens and restart work on a project dormant for more than a year..."

Spire developer Garrett Kelleher to meet with leaders of AFL-CIO pension investment trusts -- chicagotribune.com
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Old 11-30-2009, 12:06 PM
 
11,975 posts, read 31,815,368 times
Reputation: 4645
This Kelleher guy seems pretty determined. But he knows that economic conditions will likely change multiple times by the time the Spire is built. Having worked on supertall projects myself in the past, the interesting thing about this type of project is that the construction timeline is so stretched out that economic conditions can be very different between the planning phase and project delivery. For instance, I worked on a very large project that was designed from 2003-2006 (schematic design through construction documents), and it is still under construction to this day. Granted, there were some pretty significant changes requested by the client, but this isn't uncommon.
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Old 04-29-2010, 01:22 AM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,062,734 times
Reputation: 4047
Let's hope this gets built.
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