Just before Prendergast was to begin pouring concrete, however, the city decided to extend a height bonus on nearby properties to Prendergast's property and several others. Having wanted to go higher in the first place, Prendergast happily had Bob Thompson of Thompson Viavoda & Assoc. redesign the building as a taller, skinnier office tower.

The changes not only altered the space Young & Roehr had signed on for, but it also pushed the project's completion from the end of 2001 to the middle of 2002, six months later than Young & Roehr had planned to relocate from their current offices in the Skidmore Fountain Building. To try and ease the pain, Prendergast is giving Young & Roehr its pick of floors in the redesigned building, and remains "hopeful" he can still accommodate the growing ad firm. Young & Roehr CEO Bob Warren remains undecided.

"Of course, what we wanted was the building we agreed to, but that option doesn't exist anymore," Warren tells GlobeSt. "We are still in discussions with Pat about how our needs can still be met. We haven't resolved anything. He's outlined options and we are still looking at those."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.