The University of Chicago's physical footprint has dramatically expanded over its 135-year history, transforming from a single block in Hyde Park to a sprawling institution owning over 800 properties across multiple neighborhoods and even other states. This growth, visualized through interactive maps, reveals distinct phases of acquisition, including the early concentration around the main campus, mid-century expansion southward spurred by urban renewal programs, and more recent acquisitions in Woodlawn and further afield. The visualization highlights not just the sheer scale of UChicago's land holdings but also the complex relationship between the university's growth and the surrounding community.
Chicago is offering an unusual investment opportunity tied to the future revenue of its first casino, the Bally's Chicago casino. Investors can buy a "Chicago Casino Bond" that pays a variable rate based on a percentage of the casino's adjusted gross receipts. While offering potentially high returns, the investment carries significant risk as casino revenue is unpredictable. Factors like competition, economic downturns, and the casino's management could impact payouts, and there's no guarantee of principal return. Essentially, it's a bet on the long-term success of the casino itself.
HN commenters are skeptical of the investment opportunity presented, questioning the projected 16% IRR. Several point out the inherent risks in casino ventures, citing competition, changing regulations, and the reliance on optimistic revenue projections. Some highlight the unusual nature of the offering and the lack of transparency surrounding the investor's identity. The overall sentiment leans towards caution, with commenters advising a thorough due diligence process and expressing doubts about the viability of such a high return in a saturated market like Chicago. Some also suggest exploring publicly traded casino companies as a potentially safer alternative investment in the sector.
Summary of Comments ( 63 )
https://news.ycombinator.com/item?id=43332424
Hacker News users discussed the University of Chicago's expansion, primarily focusing on its impact on the surrounding community. Several commenters criticized the university's role in gentrification and displacement of long-term residents, citing its acquisition of property and influence on rising housing costs. Some debated the university's responsibility for providing affordable housing and supporting local businesses. A few commenters highlighted the positive aspects of the university's presence, such as increased safety and economic development. The visualization itself was praised for its clarity and detail, enabling viewers to easily grasp the scale of the university's growth over time. A recurring theme was the complex relationship between urban universities and their host communities, with commenters acknowledging both benefits and drawbacks of the university's expansion.
The Hacker News post "Mapping the University of Chicago's 135-year expansion into Hyde Park and beyond" generated several comments discussing various aspects of the university's growth and its impact on the surrounding community.
Several commenters focused on the University of Chicago's reputation for aggressive expansion and its sometimes strained relationship with its neighbors. One commenter described the university as a "voracious land consumer" and questioned the ethics of its expansion tactics, particularly its use of eminent domain. Another recalled personal experiences witnessing the displacement of residents and businesses due to the university's growth. This narrative of displacement and community impact was a recurring theme in the discussion.
The visualization itself also drew comments. Some found the interactive map fascinating and praised its detailed representation of the university's land acquisition over time. However, others critiqued the visualization's design, suggesting improvements like adding labels to buildings and providing clearer context for the different phases of expansion. The lack of specific information about the types of properties acquired (residential, commercial, etc.) was also mentioned as a limitation.
A few comments delved into the historical context of the university's expansion, linking it to broader urban development trends in Chicago. One commenter mentioned the role of urban renewal projects in the mid-20th century, which often led to the displacement of low-income communities. Another pointed out the university's role in stabilizing Hyde Park during periods of economic decline, suggesting a more nuanced view of its impact on the neighborhood.
The discussion also touched on the challenges faced by universities located in urban environments. Commenters discussed the trade-offs between institutional growth and community preservation, acknowledging the complex dynamics at play. The role of universities in contributing to local economies and providing public amenities was also mentioned.
Finally, some commenters shared personal anecdotes about their experiences living in or near Hyde Park, offering firsthand perspectives on the university's presence in the community. These anecdotes ranged from positive accounts of the university's contributions to cultural life to more critical perspectives on its impact on housing affordability and neighborhood character.