“Moving forward with a large-scale project such as 1 Java amid the pandemic … underscores the importance of creating community-oriented spaces in gateway cities,” said Denis Hickey, chief executive of Lendlease Americas. The idea to redevelop the area into apartments was originally RedSky’s. In 2019 the partners unveiled plans for two buildings—one with 30 stories and the other with 40—that would have about 700 units including affordable ones. They’d even scored a $58 million loan for the project in 2015. But the Covid-19 pandemic had other plans for them. JZ Capital wrote down its real estate portfolio by more than $110 million by August because its assets were leveraged and its retail tenants were not paying rent, the company said in a report.