Comments on: Aqua closings get the “yellow light” following Fannie Mae snag http://yochicago.com/aqua-closings-get-the-yellow-light-following-fannie-mae-snag/12884/ New homes, apartments and condos for sale and rent in Chicago Fri, 19 Mar 2010 15:32:27 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Joe Zekas http://yochicago.com/aqua-closings-get-the-yellow-light-following-fannie-mae-snag/12884/comment-page-1/#comment-47533 Joe Zekas Sun, 22 Nov 2009 00:23:03 +0000 http://yochicago.com/?p=12884#comment-47533 Lee, The policy is not wholly irrational. I can't think of a single large mixed-use project in Chicago over the past 40 years (Hancock, Water Tower, One Mag Mile, 900 N. Michigan, Chicago Place, Trump, etc. etc.) that didn't either get off to a very rocky start or suffer some later reverses, with negative impact on the residential component. Aqua's a somewhat different case, however, since it's entirely residential in one form or another. Lee,

The policy is not wholly irrational.

I can’t think of a single large mixed-use project in Chicago over the past 40 years (Hancock, Water Tower, One Mag Mile, 900 N. Michigan, Chicago Place, Trump, etc. etc.) that didn’t either get off to a very rocky start or suffer some later reverses, with negative impact on the residential component.

Aqua’s a somewhat different case, however, since it’s entirely residential in one form or another.

]]> By: Lee http://yochicago.com/aqua-closings-get-the-yellow-light-following-fannie-mae-snag/12884/comment-page-1/#comment-47532 Lee Sat, 21 Nov 2009 22:37:14 +0000 http://yochicago.com/?p=12884#comment-47532 This is a really disappointing, anti-urban Fannie Mae policy. There's little reason for policies like this favoring lending for single-use developments over mixed-use ones. Mixed-use development is essential for healthy, vibrant cities. And the recent economic drama seems to be showing that if anything single-use exurbs are actually the more risky investment for banks. This is a really disappointing, anti-urban Fannie Mae policy. There’s little reason for policies like this favoring lending for single-use developments over mixed-use ones. Mixed-use development is essential for healthy, vibrant cities. And the recent economic drama seems to be showing that if anything single-use exurbs are actually the more risky investment for banks.

]]> By: Joseph Askins http://yochicago.com/aqua-closings-get-the-yellow-light-following-fannie-mae-snag/12884/comment-page-1/#comment-47445 Joseph Askins Fri, 20 Nov 2009 19:24:41 +0000 http://yochicago.com/?p=12884#comment-47445 This didn't really fit into the story above, but I'm sure someone out there would like to know: According to Appraisal Research Counselors' latest benchmark report, 313 (or 66 percent) of Aqua's apartments were leased between May and the end of October. Another 137 need to be leased for the tower to reach 95 percent, the point at which a building reaches "stabilized operations." This didn’t really fit into the story above, but I’m sure someone out there would like to know: According to Appraisal Research Counselors’ latest benchmark report, 313 (or 66 percent) of Aqua’s apartments were leased between May and the end of October. Another 137 need to be leased for the tower to reach 95 percent, the point at which a building reaches “stabilized operations.”

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