A Miami-based developer, already active in local acquisitions, just snatched up three vacant acres on busy South Loop corridors. The primary two-acre site is at Roosevelt & Michigan, the other at 13th and Indiana. Crain's muses on Crescent Height's strategy, but there are no transparent plans. The Roosevelt site alone could support up to 1,200 residential units or 1,500 hotel rooms, in a tower as high as 70 stories. Crescent beat other investors to the chase, which will help protect endangered site lines at another Crescent holding— the apartment tower at 1212 S Michigan. It's important to show equal love for all your children. [Crain's]
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