According to Barb Geisman, three new projects have made it through both the internal TIF review committee and the early phases of the formal TIF Commission approval process.
The first is a proposal by Opus Development to build a new 28-story mixed use condo/retail building on the site of the former American Heart Association offices. The development will return a tax-exempt property to the tax rolls and increase the residential density on the block.
The second is a proposal by Centaur Properties of New York to purchase and rehab the former General American Life Insurance headquarters on Market Street. Designed by noted modern architect Philip Johnson, the triangular landmark will be restructured and leased to one (or more) office tenant and one (or more) first floor retail tenant.
The third is an ambitious proposal to complete the infrastructure and street improvements along Delmar — and to add three new projects (a boutique hotel, a retail/office complex, and condos) to the entertainment, retail, and cultural venues that have been extending into the City from the U City Loop area.
Reps from the E&A offices will continue negotiating with the developers of these projects over the key details of the TIFs. Public hearings have been set for November 2.