100 East Redevelopment Secures Key Financing Component, See Renderings
Historic redevelopment includes pool deck, 384 apartments.
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Historic redevelopment includes pool deck, 384 apartments. Back to the full article.
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Categories: Real Estate
I believe this is a good and necessary move.
My wish is that all of the new and proposed housing downtown gets filled as quickly as possible. It’s important in creating the downtown neighborhoods that will drive activity, retail, and further interest in visiting. (People like visiting active places where others live, not simply arenas and other destinations.) Given the current softness in filling The Couture and 333 N. Water and The Edison due to break ground in Q1 2025, I wonder who the target is for some of these projects. Like, what is the “avatar” of a proposed resident. Couture and 333 are clearly empty nesters and young professionals. Same for Edison. With more than 70% of 100 East going to be studios and one-bedrooms, I wonder if they’re going for a less affluent resident, “fresh out of college,” or something a “step up” from workforce, which I think would be a good thing.
The question of who might move to downtown or move into these projects might bear broader consideration by BID 21 or other powers that be—thinking through any amenities within a 2-3 block radius of new residential. I’m a firm believer that much of this should and will be market driven. That said, a strategic push or two in the right direction could help fill these buildings.