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Development Update: Kennedy Cap

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An increased cost estimate is jeopardizing Fifield Cos' involvement with a plan to cap the Kennedy with park space and intensive tower construction. Whether wishful thinking or what, Fifield and architect Scott Sarver of SDMP Studio had pegged stage one cap and park costs at $15M per block. If that sounds ludicrously low, that's because it didn't consider a host of CDOT requirements: ventilation, landscape irrigation, sprinklers, fire alarms, smoke control, and more. That catapults the new estimate to $60M per block prompting Fifield to reposition themselves as planner and consultant, not developer. [Gazette Chicago, previously]