Thursday, February 02, 2006

This Project Cannot Fail

We Need a Winner

So much is riding on the success of this project it is difficult to grasp and I had difficulty sleeping as a result. Let's see what's on our plate . The Lakefront Protection Act, investor confidence in Rogers Park will hinge on the success or failure of the restaurant or the whole project and let's not forget the reputation of the alderman during an election year. No small potatoes.

I have some suggestions that I think can pave the way for all of us, the community, the architect, the Alderman, The Lakefront Protection Act, Connie Abels, her investors and the reputation of Rogers Park as safe place to invest. We can all come out winners in this deal.

There are too many flaws in this proposal. We cannot afford to have this project fail and we should not allow the Lakefront Protection Act to be violated. Not once. Not ever.

We need a proposal that has better chance of success than this, overspeculative, all too risky plan. Imagine how you would feel if the zoning was changed, the condos didn't sell and or the restaurant wasn't successful and the project ended up as a big white elephant on our newly violated lakefront. There is no guarantee of success in any business plan but we must do our best to put forth a proposal that has the best chance of success. I don't believe this proposal has the best chance as it stands.

The View, The View, The View

The entire pretext for the height of the building is supposedly the view of the lake. But considering the limited time that customers will be able to take advantage of that view, or see the view unless they are sitting at a window table, I don't believe that potential benefit is as great as advertised. There is a large building to the east that blocks 25% of the lake and there is frequently fog and low cloud cover.When this fact is recognized by customers, this restaurant will lose its cache' value in a hurry and this is a huge risk.

The one visual that did not appear in the presentation was the verification of the view as advertised. I think we need to see that to make thorough evaluation.

A Win,Win,Win, Solution

For this project to be successful I beleive we need to rely on a much simpler plan that has what people want most. Condominiums and a great place to eat at ground level. This plan is trying too hard to please certain perceived community concerns by adding parking at the expense of almost guaranteed condo income. The risk reward ratio is upside down putting the entire project at risk.

If they used the entire engineering and construction budget that was earmarked for the rooftop restaurant, elevator shafts, plumbing and sprinkler construction and used that budget towards creating a "statement' building within the existing zoning guidelines, with the restaurant at street level, I believe this would have a better chance of success. The added square footage created by the removal of the elevator core could be added to condominium square footage and add much needed, almost guaranteed return on investment. The larger units could be historic "home like' , multi bedroom, media room, pantry units that would sell for much more than the current "above a parking garage" plan. Those units would be desireable for an entire family. the residential portion of the building would be private and quiet, which would add value rather than the odd restaurant, garage sandwich that is being proposed. Parking can be added to the rear and probably could be covered.

In this more traditional building there would be 2 very distinct entrances, which is visually as well as pracitically important. A private entrance for the residential portion and the restaurant entry.

The restaurant might have an expanded ceiling, adding visual interest at the street level and dampening the noise to the upstairs residential units. Maybe the restaurant windows could open to the street during the summer. At street level, the restaurant could be larger, adding to the possibility of success and would increase the number of local jobs.

I don't or won't pretend to know all the answers. I am simply offering alternatives so that everyone can possibly benefit from a serious investment in capital but at the same time, uphold and maintain the law of the lakefront.

Make A Statement

I think the Alderman needs to make a statement to our community that he will not allow this variance and that the Lakefront Protection Act is Law. I think the community needs to make a statement that we want the lakefront protected and that this plan needs to be revised. I think the architect can make a bold, design statement with his building on Sheridan Road and with his commitment to great architecture. I think if the plan were less risky, the investors behind this project will be happier getting their bank statement. I think Connie Abels can make a statement to Rogers Park by showing us how it really should be done. The legacy of an incredibly successful project that possibly marked the long awaited turnaround of Rogers Park ,within the existing guidelines, will live forever.

The decisions all of you are making can change the course of our entire neighborhood. Please do not take that responsibility lightly.

1 Comments:

Blogger gf said...

beenthere-

the sentence that you quoted was meant to be aimed specifically towards the alderman and the rest of the few who are the only ones making decisions that affect us all. the community is not included in this process until most of the planning has already occured. you are correct and i could not agree with you more.

if you were given the mistaken impression that i think we are involved, i will change the sentence.

if you have another minute, please read "stop the development. we need a plan" i wrote on 24/7howardwatchers" and tell me what you think.

3:45 PM  

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