Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
May 25, 2022

Bally’s Gets City Council Nod, Though Questions Linger About Process, Profitability

Salesforce's Senior Director Scott Phillips Joins Chicago Tenant Wellness & Leasing Summit June 28

Chicago will get its first-ever casino as city council members approved an agreement with Bally’s to build a $1.7B development in the city’s River West neighborhood.

By a 41-7 vote Wednesday afternoon, aldermen approved Bally’s proposed casino complex on the former Tribune Publishing site as well as a temporary casino at the vacant Medinah Temple, a former Bloomingdale’s store at 600 North Wabash Ave., until the larger project is complete in 2026.

Council members cited high-paying jobs and benefits, a commitment to labor and lifting up socioeconomically disadvantaged residents, and the chance to stabilize city finances by shoring up pension funds in their approval.

Bally’s Gets City Council Nod, Though Questions Linger About Process, Profitability

“The bottom line of this is, this is about revenue,” said Alderman Jason Ervin, who represents the city’s 28th Ward. “Cars don’t run on hopes and prayers …Government, too. We have obligations we need to meet, and that number does not decrease as time moves forward.”Under the agreement,…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

WeWork Leads $30M Funding Round For Coworking Software Startup WeWork Leads $30M Funding Round For Coworking Software Startup
Major EB-5 Regional Centers Sue Government Over Program’s Reauthorization Major EB-5 Regional Centers Sue Government Over Program’s Reauthorization
UK Life Insurance Giant Takes First Leap Into U.S. Market With $4B Life Sciences Fund UK Life Insurance Giant Takes First Leap Into U.S. Market With $4B Life Sciences Fund
Walmart Bringing Robotics To All Of Its Regional Distribution Centers Walmart Bringing Robotics To All Of Its Regional Distribution Centers
Perforation

'Speaking The Same Language': More Architects Use VR/AR To Bridge Communication Gaps, Cut Costs

Architecture firms on the cutting edge of technology are incorporating the use of augmented and virtual reality as a way to help clients better visualize designs.

'Speaking The Same Language': More Architects Use VR/AR To Bridge Communication Gaps, Cut Costs

The A&D industry has used 3D renderings as a visualization tool for years, but VR and AR take the experience one step further by allowing clients to interact with their space without ever entering the building. Supporters of the technology say this saves time and…

Read the full story here.

  Share:  
 
Perforation

'You Can Certainly Miss': Developers Launching Into Life Sciences Finding Labs Aren't Easy Money

Developer Michael Darby plans to break ground next month on the first life sciences project for his firm, Monument Realty, which has a long history of developing apartment buildings in the D.C. region.

At the 135K SF Monument Innovation Center, which Darby is building speculatively along the I-270 life sciences corridor in Maryland, Darby said he’s being a lot more cautious than in his area of expertise, where his track record gives him confidence to get ahead of market trends.

“It’s so easy to overestimate the demand,” he said of making the leap to life sciences. “It’s already inspired people to make bad mistakes and expand into the wrong markets.”

Read the full story here.

 
Perforation

In Case You Missed It...

Chicago Big-Box Industrial Keeps Breaking Its Own Records Chicago Big-Box Industrial Keeps Breaking Its Own Records
Bally’s Lays Down Its Cards In Draft Casino Agreement With Chicago Officials Bally’s Lays Down Its Cards In Draft Casino Agreement With Chicago Officials
Somerset Inks Largest Lease So Far For Bell Works Chicagoland ‘Metroburb’ Somerset Inks Largest Lease So Far For Bell Works Chicagoland ‘Metroburb’
Singaporean REIT Makes Big Chicago Industrial Buy In What Could Be A Wave Of U.S. Purchases Singaporean REIT Makes Big Chicago Industrial Buy In What Could Be A Wave Of U.S. Purchases
 
Perforation

Office Demand Down Slightly As Many Head Into Work Just Once A Week

Office Demand Down Slightly As Many Head Into Work Just Once A Week

Tenant interest in office space has plateaued amid indications that a significant share of people returning to the office might only be going in one day a week.The demand for office space across the country fell 1.5% in April compared to March, said VTS,…

Read the full story here.

  Share:  

 
 
 
BISNOW
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 58003