Not a huge surprise and something that
we've read about before, but it looks like
it's official now:
The Lofts at Roosevelt Collection, a 342-unit development originally slated as condos, will be converted into rental apartments, the developer said Friday.
Centrum Properties Inc., bowing to continued pressure in the condo market and particularly in the South Loop, said apartments in the building at Clark Street and Roosevelt Road would be available Sept. 1.
The good news is that the theater is still set to open in the November time frame.
4 comments:
This will make this an incredibly unsafe place to visit. Imagine all the Sec 8 renters and their "family" and "friends" cruising around the loop of stores/restaurants. The movie theater is going to be violent. See what happened to AMC River East (a dress code banning white T-shirts had to be passed). Ashame as the RC could have been such an asset to the hood.
Why would this be unsafe? Even if a few Sec 8 renters did live there does not meant that there will be any danger. I have been to several nice neighborhoods and have seen violence, fights and everything else. And these were millionaires. Everyone has family and friends, the Section 8 renters and the others who are not on Sec 8. No one is better than the other. That is the problem today. I sense you focusing in on one race and it is very sad.
Ignorance.
I'm continually amazed at the level of outright racism and/or bigotry that gets displayed in cases like this.
Most of these newer condo developments have or will be made up of a certain percentage of rental units due in large part to the bloated state of new (mostly empty) construction. The Terrapin project at Clark and Polk went partial rental and the planet didn't fly off it's axis or anything and there's several other new mid-rise buildings in the area that rent as well.
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