Articles About Development

A sign of Chicago’s River North neighborhood’s inherent commercial strength is the recent $165 million sale of the 424-room Westin River North Hotel at 320 North Dearborn Street.  The purchase price was approximately $389,000 per room, an excellent price considering that the hotel market nationally has struggled.  The price was 37 percent higher than Tishman […]

Although Chicago’s 2016 Olympic dreams were shattered on October 2, the experience should be a learning experience about shaping the city’s future. According to Blair Kamin, the Chicago Tribune‘s Pulitzer Prize-winning architecture critic, “It’s all about whether Chicago can transform its grand defeat on the international stage into a back-to-basics victory on the home front, […]

Much has been made in the world’s press about India’s economy buoyed by its IT sector. And a lot of it is justified.  The nation’s IT sector managed to grow some 20 percent in 2008, according to India’s National Association of Software and Services Companies, and IT firms have already extended 100,000 job offers for […]

Florida’s commercial real estate development community won big time in the Florida Legislature’s 2009 session with passage of the Community Renewal Act.  The legislation limits local governments’ ability to collect impact fees from developers, a step that is certain to encourage new commercial development in the Sunshine State. NAIOP Florida strongly supported the bill, which […]

Bank of America has pulled the plug on Chicago’s high-profile Waterview Tower with its filing of a foreclosure lawsuit against the 90-story condominium and hotel tower overlooking the Chicago River.  The bank has sued to collect $20 million from the developer, an affiliate of Chicago-based Teng & Associates, which stopped construction last year. The building’s […]