3 December 2009 ? Chicago Spire owner Garret Kelleher is thinking outside the box in order to save the troubled project. Originally designed to house 1200 planned residences in the 140-story structure, the Spire remains just a hole in the ground at 400 N. Lake Shore Drive. Kelleher recently approached local unions with a unique offer to invest in the project, thereby creating jobs for their membership. Tom Villanova, president of the Chicago & Cook County Building & Construction Trades Council has held conversations with Kelleher as recently as last Monday. Villanova has expressed some interest, but another union source argued that while the jobs are extremely attractive, the project is still highly risky. Funding would come from two trusts of the AFL-CIO and the Union Labor Life Insurance Company. The unions are currently researching their options.Email This Post To a Friend.
Chicago Spire Developer Approaches Union Leaders With Creative Offer
December 3, 2009
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