Five years ago today the Tribune reported plans for Kinzie Station

The headline read 6-tower project planned, and the story began:

A Chicago-based developer intends to build a $750 million residential project near downtown that it said will have enough scope and variety to be a new neighborhood.

Fifield Cos. is set Thursday to unveil finalized plans for a community called K Station that would link the West Loop and River North districts. It would include six residential towers with 2,451 luxury apartments, parking for 2,000 vehicles and 40,000 square feet of retail space, plus a Jewel/Osco supermarket.

[T]he 27 percent decline in the sale of new housing, including converted condominiums, through the third quarter of 2006 means that some potential buyers are likely to rent until they are sure the market is rebounding.

If the housing market does spring back in coming years, one or two of the K Station towers might be developed as condominiums. There is reason to speculate, given the surge of new downtown residents in recent years.

So much for that speculation.

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