Monday, November 12, 2007

I swear this won't become The Chicago Spire blog, but...

Hey, it is potentially an amazing development (and I for one would love to see Garrett Kelleher build it even if to say "I told you so"). Thanks to the amazing posters at SkyscraperPage.com (here is a link to the Spire discussion, which has very cool pix of the site under construction), I was able to look at Shelbourne's and Thomas Murphy's responses to the HOA dispute. My summary of Murphy's comments are:

1. We have an ironclad easement drawn up by the condo association's lawyers (Hmmm...not even going there...I may actually have to go read this document).

2. This will not affect the construction timetable. (Maybe. I don't know the project well enough to know.)

3. We're in a construction zone. Townhouses settling two inches in five years = de minimis non curat lex. (Sounds fair on its face, but I'm not a judge or a construction litigator.)

4. Even though our rights are ironclad, we applied for a revised foundation permit out of prudence. (I have no reason not to believe this, so I will. It makes sense to hedge your bets.)

One thing is for sure. The astronomical prices in dollars for this project don't look so bad in Euros or other currencies. (Heck, even the Loonie is at at $1.07 or something, which bodes well for snowbirds.) If Shelbourne can get buzz abroad on this project we may see some sales come January.

0 comments:

 
-