Results tagged “pedway”

In spite of yesterday's ruling that stripped control of the beleaguered Block 37 project from its developer, the project will see the first store opening today after the city gave the project the green light, according to Crain's. Today will see the opening the opening of both the pedway and the Steve Madden store. A spokeswoman for the developer, Joseph Freed & Associates, LLC, said they expect two additional stores - Zara and Puma - to open early next week and several more will follow suit by Thanksgiving.

Thanksgiving is almost here and with that comes the hoped-for opening date for the beleaguered Block 37 project downtown. And two events this week might go a long way towards determining if the project will manage to open on time as scheduled. First, on Thursday, the project will get the final inspection from the city that would give it the okay to proceed with its opening. But Friday sees the hearing where Bank of America, the main lender on a construction loan, will ask a judge to take control of the project away from developer Joseph Freed and Associates LLC and hand it over to a receiver. According to the Tribune:

We're not superstitious, but we got a kick out of the latest announcement from the beleaguered Block 37 project. The project announced a slew of new tenant signings, totaling 13 in all, an unlucky number for an unlucky project. Among the tenants: Sephora, L'Occitane en Provence, and several local stores including a new spot from the Comic Vault and Chicagoist favorite Bleeding Heart Bakery. Developer Joseph Freed and Associates LLC claims the project will open this Thanksgiving - just in time for Christmas shopping - and be complete by the end of next year. Meanwhile, Freed and Associates are battling Bank of America in that foreclosure lawsuit and a hearing is scheduled for November 20 that could decide whether the opening of the project's underground CTA pedway is delayed. According to Crain's: