Whenever a development prospect aims to resolve a surface lot, you hate to see it evaporate. That's what happened with Enrico Plati's attempt to purchase the lot at Jackson and Jefferson, and fill it with between 240 and 320 apartments. It was just 10 days ago that Crain's was pointing Plati's plan as a real likelihood. And indeed, Plati and his firm Savoy Development were under contract for the lot. He has reversed course with no reason given. But foreclosure troubles in Streeterville, culminating with the loss of a prime development site, may have factored in. Pity, for as vibrant as the West Loop is there's a unseemly number of surface parking lots. [Crain's, previously]
Filed under:
Loading comments...