The summer edition of the Currents newsletter has been published. Topics include: the start of construction of the first cluster of 24 Parkhomes which will range in size from approximately three to four thousand square foot each; various property updates for Tides, The Regatta, The Chandler, and more; Chicago’s win in its bid to be the Candidate to host Olympics in 2016; and potential developments along the south side of the Chicago River - just on the other side of East Wacker from Lakeshore East.

To view the full newsletter which includes several photos and artist renderings see — http://www.lakeshoreeast.com/pdfs/MGL_CurrentsSUM07web.pdf

In this month’s Chicago City Briefing from the Economist –

• Chicago has won out over Las Angeles for country’s bid to be host for the 2016 Olympics. The final decision will be made in 2009 among other international cities likely to include Rome and Tokyo.
• The CTA’s construction projects this summer will delay commuters who use the Red, Brown, and Purple lines. Construction will continue through 2009.
• Donald Walsh, assistant deputy chief paramedic, “retired” on April 30th after being accused of racial discrimination.
• Virgin airlines has launches direct, non-stop flights between Chicago and London’s Heathrow airport. (Check out Virgin Atlantic’s amenities). Virgin originally pulled out of the Chicago market after 9/11.

For more information, see the briefing at http://www.economist.com/cities/briefing.cfm?city_id=CHI

Earth Day Celebration with ComEd and Exelon

This Saturday from 9 to 11 am volunteers are welcome to help mulch trees and cleaning Grant Park. Meet at Daley Bicennteniel Plaza.

“We will be mulching trees (by working with the Chicago Park District, we have worked to get 1000’s of trees planted in Grant Park, close to two thousand in the last year). We will also be picking up left-over winter litter and debris.”

More information - http://forums.new-eastside.com/index.php/topic,109.0.html

The Economist has published their monthly “Chicago City Briefing”. Topics include Daley’s re-election and challenges he is facing as he begins his sixth term, arrests made 2/21 for terrorist charges on the northwest side, Chicago’s Olympic Bid, and Aldermanic races in Chicago.

http://www.economist.com/cities/briefing.cfm?city_id=CHI

Bob O’Neill announced a joint meeting of the Grank Park Conservancy and the Grant Park Advisory Council to discuss topics related to 2016 Olympics, plans for a new Metra Station (renovation) in Grant Park, and an update on Hutchinson Field.

See the announcements section for more information –

Grant Park meeting 

The Chicago Olympic bid has drawn interest from several Chicago developers who might help to make the large-scale development happen. 

The Chicago Sun-Times writes - “Because the housing would be needed for the athletes, developers would have to build it regardless of advance sales of the homes. Most large-scale projects, such as the successful Lakeshore East, can advance a building at a time, selling out one before starting work on the next.”

More information at – http://www.suntimes.com:80/business/228145,CST-FIN-develop25.article

Other developers have expressed skepticism – “One of Chicago’s most active builders, requesting anonymity forear of riling City Hall, said anybody who takes on the housing project will be lucky to break even. “I can just see how this will work. You get cost overruns and the developer has to eat them.” 

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