Christopher Kennedy On Wolf Point

Of all the bigwigs at the recent Wolf Point meeting, Christopher Kennedy, whose family owns the property, was conspicuously absent. If you were lamenting the fact that he was unavailable to offer his perspective and answer questions, don't fret! The benevolent svengali behind the $1 billion development recently sat down with Crain's for an interview. Kennedy pointed to a previous climate of political and financial uncertainty as the reason for delaying the project until now: "There will be 20 banks and financial institutions bidding on the debt for the (first) building. That wouldn't have been the case a year ago." When asked about opposition to the project based on traffic concerns, he was sensitive to the issue, telling Crain's: "If there are things we can do to improve traffic flow in the area, we'd like to be helpful." He said Hines was selected as the developer because of its sterling reputation for getting things done in Chicago. Lastly, as for when construction will begin, Kennedy hopes to break ground on the residential tower in October, with construction to last 24-30 months. [Crain's, previously]