River North: Past Plans, Future Opportunities

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River NorthPast Plans, Future Opportunities
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Pledging a Commitment to ExcellenceULI Chicago
acknowledges the key support of our 2008
sponsors.
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ULI Chicago acknowledges the key support of our
2008 sponsors.
OWP/P, Inc.TranswesternWrightwood
Capital CONTRIBUTORDeStefano PartnersS.B.
Friedman Company SUPPORTER DLA Piper US
LLPKensington Realty Advisors, Inc.RED Capital
Group
BENEFACTOR Crown Community DevelopmentLEADER
EpsteinSUSTAINERBank of AmericaBell, Boyd
Lloyd LLPChicago Title Insurance
CompanyDeloitteEquity ResidentialGould
Ratner LLPHolland Knight LLPMesirow Financial
Real Estate, Inc.
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• PLANNING COMMISSIONER ONLINE IS . . .
• an innovative, online program
• with simple, constructive learning modules
• presented under the guidance of ULI Chicago
  members and UIC faculty
• with a multi-disciplinary resource panel
  providing greater depth of discussion

Flexible, personalized, and multi-disciplinary
learning . . . for new and experienced plan
commissioners JOIN US ONLINE FOR OUR FALL
SESSION October 27 November 17, 2008To
register www.Chicago.uli.org or 773-549-4972
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Brief History of the River North Urban Design
Plan
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Map and land uses
MART WHOLESALE/EXHIBITION Office Residential Retai
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GALLERY COMMERCIAL LOFT Residential
CATHEDRAL RESIDENTIAL Retail
A.M.A. OFFICEHotel Retail Residential
OHIO/ONTARIO ENTERTAINMENT Retail Hotel
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Density
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Transportation recommendations

• East West Circulator
• Expanded Ravenswood Service
• East West Shuttle Service
• Grand Avenue Subway
• Transit Station Improvement

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Open Space recommendations

• Riveredge
• Orleans Gateway
• State Street
• Grand/ State
• Pocket Parks
• Upper Grand

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Contextual Development GuidelineAverage
streetwall height
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Contextual Development Guideline highrise design
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State Street Corridor general recommendations
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Early Development
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History

• Initially- warehouse lofts- river/railroads
• 1950s- former uses become obsolete
• 1970s- tough times-
• 1980s- edges benefit from growth
• Loop
• Michigan Avenue
• Early pioneers- restaurant/entertainment
• Galleries

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Development Plan of 1989
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1990s

• Entertainment- growth
• Residential- growth- loft living
• Michigan Avenue- shifts southward
• Loop growth
• Marts success
• Why-
• Desire to live/work downtown
• Security
• Retail/entertainment growth-controversy

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• AMA
• American Medical Association HQ
• Purchased lots- isolate itself
• Helped create a critical mass of land

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Aerial Photo-early 1990s
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Lincoln Center Plan 1992
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1991 Plan- Nordstrom
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North Bridge Summary
USES 20 Retail 30 Hotel 20 Office 10
Residential 20 Parking

• 5.7 Million GSF TOTAL
• 4.7 Million New
• 1.0 Million Renovation
• 67 Retail Tenants
• 970,000 RSF Retail
• 715,000 RSF Office
• 457 Apartments
• 2,415 Hotel Rooms
• 2,516 Parking Stalls

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520 N. Michigan Avenue
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Block 120 ESPN Zone
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Challenges

• Market versus Public Policy
• Combine both
• Revisit continually
• Times square example
• Neighborhood/community groups- role
• River North- limited public incentives
• Ongoing - what detracts from area

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Current Activity
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RetailPre-1989 2,065,110 square feet
Post-1989 2,719,727 square feet
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Residential developmentPre-1989 3,153
unitsPost-1989 11,847 units
Source Appraisal Research
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Office DevelopmentPre-1989 8,990,000 square
feet Post-1989 12,747,566 square feet
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HospitalityPre-1989 1,127 number of
roomsPost-1989 2,855 number of rooms
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ParkingPre-1989 20,680 spacesTotal Current
Inventory 12,510 spaces
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1. Availability and aesthetics of loft buildings
and available land
Urban Design Plan Drivers
1. Availability and aesthetics of loft buildings
and available land
2. Escalating rents for commercial space
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3. Influence of Mart, Apparel Center and East
Bank Club
Urban Design Plan Drivers
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4. Expansion of Office Market northward from Loop
and expansion of mixed-use westward from Michigan
Ave
Urban Design Plan Drivers
Michigan

Loop
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5. Ease of access from expressway system and LSD
Urban Design Plan Drivers
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6. Demand for housing / walking distance from the
Loop
Urban Design Plan Drivers
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Urban Design Plan Objectives

• Maximize growth- adequate support facilities,
  leverage public investment

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Urban Design Plan Objectives

• Maximize growth- adequate support facilities,
  leverage public investment

• Maximize growth- adequate support facilities,
  leverage public investment

2. Conserve Unique Physical qualities
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Urban Design Plan Objectives

• Maximize growth- adequate support facilities,
  leverage public investment

2. Conserve Unique Physical qualities

• 3. Enhance pedestrian environment

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Urban Design Plan Objectives

• Maximize growth- adequate support facilities,
  leverage public investment

• Maximize growth- adequate support facilities,
  leverage public investment

2. Conserve Unique Physical qualities

• 3. Enhance pedestrian environment

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What does the future hold?
ULI Chicago
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What does the future hold?
ULI Chicago
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Where are we heading?
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Global Statistics
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We are doubling our capacity every twelve months,
so that living in the 21st century will be like
experiencing 20,000 years of human progress.
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Global consumption of all forms of energy will
at least double between now and 2050
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The World population will likely increase by 2.5
billion over the next 42 years equaling 7.9
billion people in 2050
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If we continue business as usual for 6 billion
people, we will need four additional planet
earths
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For the first time in human history a majority
of us live in cities.
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10 of the population lived in cities in 1900,
50 in 2007, 75 will be living in cities in 2050
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Chicago Statistics
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Chicagos downtown population almost doubled from
1900-2000
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Chicago experienced a 15 increase in
foreign-born residents from 1970 - 2000.
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Where do we want to go?
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Develop the vision for City of Chicago as most
advanced, beautiful, and sustainable city in
the world.
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Envision Chicago as ultimate human
accomplishment Beautiful and ecological truly
majestic in presence and humble in relationship
to natural world.
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Chicago Assets
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The density in Chicago is 12,490 people per
square mile San Francisco 15,937 New York
27,032
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office space is between 20-40 more centralized
in Chicago than in other large US cities.
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The cost of living in Chicago is 26.45 higher
than the national average Los Angeles
55.66New York 64.5San Francisco 87.66
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Chicago has experienced job growth of 1.14
while New York experienced a decrease of .01

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20 of the Earths fresh water is on deposit in
the Great Lakes
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City task force may aim for 25 reduction of
carbon dioxide from 1990 levels in 12 years
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517,633 square feet of green roof was constructed
in Chicago in 2007.
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All together, 5.2 billion has been spent
improving Chicago's walkways, streets, parks, and
communities.
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Global Identity
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Legacy Beauty
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The future of River North, what if?
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Density What ifRiver North grows in density
similar to the present day loop?
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Lifestyle What ifRiver North becomes a model
for diversity?
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Mobility What ifwe enhance the pedestrian
experience in River North?
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Ecology What if the river ecology is restored
and River North becomes filled with parks?
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Investment What ifRiver North becomes a model
of sustainable investment?
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A recent study found the averageAmerican golfer
walks 900 miles a year. Another study found
American golfers drink, on the average, 22
gallons of alcohol beverages a year. That means,
on the average, American golfers get about 41
miles to the gallon. Kind of makes you
proud.The InternetHot, Flat and Crowded,
Thomas Friedman