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Old February 10th, 2007, 05:46 PM   #61
The Urban Politician
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An update from the Dept of P&D's website:
Mixed-use project proposed for South Shore

Retail portion would include a partial green roof


Mayor Richard M. Daley today introduced an ordinance into the Chicago City Council that would pave the way for the creation a new mixed-use development project in the South Shore community.

The proposal would allow the Department of Planning and Development to sell three city-owned parcels of vacant land at 2204-24 E. 71st St. at their appraised value. A three-story residential and commercial development would then be built on the site that would include 34 market-rate condominiums and 8,600 square feet of retail space.

"This sale is an example of how developers investing in our communities can have a positive impact on the lives of our residents," said Mayor Daley. "This one project will not only turn vacant land into new housing, it also bring more retail into the area and create jobs."

The condominiums would range in size from one bedroom and one-and-a-half baths to two bedrooms and two-and-a-half baths.

The development would include 45 enclosed parking spaces at the rear of the building and a partial green roof over the retail portion of the structure. Once completed, the retail stores are expected to employ 15 full and part-time jobs.

The developer, Doc Toast LLC, expects the total cost of the project to be $8.85 million. The development would be funded privately.
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Old February 16th, 2007, 12:56 AM   #62
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Huge development 'Metropolis'

http://home.businesswire.com/portal/...33&newsLang=en

Capri Capital Partners LLC Announces Plans For Major Mixed-Use Development in Chicago
February 15, 2007
06:00 AM Eastern Time

Capri Capital Partners, LLC (“Capri”) in a joint venture with Judson Investment Company (“Judson”) has announced it will develop “The Metropolis,” a proposed three phase mixed-use project located at the intersection of South State Street and Pershing Road (39th Street) on the south side of Chicago.

The Metropolis will be an architecturally significant development planned to consist of approximately 1,000,000 square feet. In its first phase of 500,000 square feet, the project will include expansive green space surrounded by two six-story curvilinear buildings of steel and glass. Approximately 330,000 square feet of commercial retail area and 102 residential condominium units are planned in the initial phase at a cost of $155 million. Future phases are planned to include three towers dedicated to residential and hotel uses.

The visionary development will further the economic vitalization and transformation of Chicago’s historic Bronzeville/Grand Boulevard community. Both interim construction and permanent employment will be generated for the community due to the substantial investment that the joint venture is making.

“Beyond economic development for the community, the ultimate design intent of Metropolis is to create a “city center” for the near south side of Chicago,” said Quintin E. Primo III, Chairman & CEO of Capri. “Importantly, the project addresses the chronic lack of commercial retail in the area and will offer market rate and affordable housing to the growing community. Twenty percent of the 102 condominiums will be reserved for low- and moderate-income buyers, earning no more than 80% of the area’s median per capita income.

“This extraordinary investment in this particular place demonstrates confidence in Chicago’s vision for the transformation of places once dominated by decaying public housing into new communities of hope,” said Jonathan F. Fanton, President of the John D. and Catherine T. MacArthur Foundation, and a founder of The Partnership for New Communities, a group of Chicago business and civic leaders dedicated to community revitalization. Primo is a member of The Partnership Board.

“Our mission is not about fixing up a block or two, not about a few high-profile social programs, not about a temporary fix,” Fanton said. “Transformation means deep, widespread, and permanent change. So, we applaud Quintin and Capri Capital Partners for looking beyond the surface… for listening to what the data were actually saying about the marketplace… for imagining what could be… and for demonstrating the leadership to make it happen.”

“The architectural vision for Metropolis is an abstract expression of Bronzeville’s unique cultural history,” said Ross Wimer, Design Partner at Skidmore, Owings & Merrill LLP (“SOM”). “The building façades recall the repeated musical patterns of blues and jazz and the residential unit layouts invoke harmonious rhythms and the ideals of freedom and flexibility.

A public venue celebrating African American history and culture will be located in the central, curvilinear public park,” added Wimer. “It will encourage learning, activity and dialogue between the retail spaces and the public. At the corner of State and Pershing, the proposed digital clock tower announces both the new landmark development and the renaissance of the historic Bronzeville/Grand Boulevard neighborhood.

CB Richard Ellis is the exclusive leasing agent for Metropolis.

“We’re extremely encouraged by the anticipated transformation of this market,” said Todd Caruso, Regional Head of Retail for CB Richard Ellis. “The Metropolis is well-positioned between the Roosevelt Road retail corridor north and new retail development occurring on 87th Street south. The lack of retail supply in the general area should allow the project to readily draw shoppers from the surrounding 15 neighborhood communities.”

“This project is important to the south side, and the numbers speak for themselves,” said Primo. “According to MetroEdge, approximately $671 million of the total $909 million in mid-south consumer expenditures represent “retail leakage,” or dollars spent by residents outside their community.”

“The project is historically significant in so many ways,” said Hugh Williams, President and CEO of Judson Investment Company. “As minority-owned firms, Judson and Capri understand that Metropolis sits in the middle of an underserved area in the early stages of a rebirth. It will attract middle- and upper-income residents that will integrate with existing low-income area residents, who have been denied access to grocery stores and other simple amenities that people want in their neighborhoods.”

The site is bordered by Pershing Road (39th Street) to the North, 40th Street to the South, Chicago Rock Island Railroad Embankment to the West and State Street to the East.
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Old February 16th, 2007, 12:57 AM   #63
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http://www.cpnonline.com/cpn/regions..._id=1003546523

Mixed-Use Development Slated for Chicago's South Side
February 15, 2007
By Dees Stribling
, Midwest Correspondent

Chicago-based Capri Capital Partners L.L.C., in a joint venture with Judson Investment Co., has unveiled plans to develop a three-phase mixed-use project on the South Side of the city. All together, the three phases of the project, called the Metropolis, will total about 1 million square feet of residential, retail and ultimately hotel space. Ground will be broken on the project (pictured) sometime this fall.

"We’re following the lead of two neighboring projects, Legends to the south, and the Park Boulevard to the north," Quintin E. Primo III, Chairman & CEO of Capri, told CPN this afternoon. "Sales at those projects have been very impressive, and we expect the same kind of demand for the Metropolis."

The first phase, measuring about 500,000 square feet, will include two six-story buildings. Cost for the roughly 330,000 square feet of retail space and 102 condo units of the first phase will be about $155 million, according to Capri. Future phases will include three additional towers of residential and hotel space.

The project’s location, at 39th and State Street on the South Side, is in Chicago's historic Bronzeville/Grand Boulevard neighborhood. In recent years, according to the developers, the area has been underserved in terms of retail, a situation the development is hoping to help alleviate. Also planned for the site are public green space, a venue celebrating African American history--details of which remain to be determined--and perhaps a digital clock tower.

"The neighborhood has been grossly underserved by retailers for a long time,” noted Primo. “But now they’re very interested in locating there, because of residential growth nearby. We’re definitely going to have a grocery store as a tenant, 58,000 to 70,000 square feet. A bank and a drug store for the location are also very likely."

The residential part of the development will offer both market rate and affordable housing options. About 20 percent of the 102 condominiums will be reserved for low- and moderate-income buyers, earning no more than 80 percent of the area's median per capita income, according to Capri.

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Old February 16th, 2007, 12:57 AM   #64
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Skidmore, Owings & Merrill LLP, Capri Capital Partners and Judson Investment Company announce
‘The Metropolis’ Mixed-Use Revitalization Development on Chicago’s South Side

February 15, 2007 10:57 AM Eastern Time


Today, Skidmore, Owings & Merrill LLP (“SOM”) in partnership with Capri Capital Partners and Judson Investment Company, announced their involvement in a community revitalization project in Bronzeville, located on Chicago’s south side. The Metropolis, situated at the intersection of Pershing Road and South State Street, is planned to cover one million square feet and will become the area’s largest mixed-use complex. The proposed development will feature 150,000 square feet of residential condominiums, 330,000 square feet of retail space, 200,000 square feet of site improvements including an open-air park with fountain, a public library and underground parking. The site, bounded by an abandoned railway along the south, will be demolished to give way to the new development.

SOM was selected to develop the architectural concept for the Metropolis. According to Design Partner Ross Wimer, “the design for Metropolis was inspired by Bronzeville’s African-American heritage rooted in blues and jazz. In addition, “a significant focus is the incorporation of sustainable elements that will be implemented, reinforcing the City of Chicago’s commitment to green design. These include photovoltaic cells (solar panels) in the clock tower that will provide power for the development, and a “green roof” that will help insulate the buildings and control storm-water run-off, as well as provide a park for residents, ” said Wimer.

Managing Partner Richard F. Tomlinson II is working in tandem with Ross Wimer on the Metropolis initiative. “We are honored to be able to make a contribution to this underserved community and the City of Chicago by helping to create an architecturally significant design that will serve as a centerpiece for the area’s vitality and growth opportunities,” said Tomlinson. “Throughout SOM’s history, we have been committed to using our deep resources and experience to help advance the dynamic growth of the community at large through forward-looking projects that make a larger contribution to the City.”

The SOM Chicago office has extensive experience in working with the City to revitalize communities and open spaces, such as Millennium Park, the Chicago Central Area Plan and Lakeshore East. Currently, the firm is actively working on plans to develop Lakeside (Southworks), and recently proposed developments on the south side and on the lakefront as part of Chicago’s 2016 Olympic bid.

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Old February 16th, 2007, 01:25 AM   #65
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^ Holy, holy Fcuk!! WOW, that is BALLS right there!!
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Old February 16th, 2007, 02:18 AM   #66
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Quote:
Originally Posted by CHIsentinel View Post
^ Holy, holy Fcuk!! WOW, that is BALLS right there!!
That's what you get when you give SOM a huge empty lot with nothing around it except other empty lots, the Green Line, and the Dan Ryan.
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Old February 16th, 2007, 04:51 AM   #67
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wow, amazing......
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Old February 16th, 2007, 05:30 AM   #68
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That's great news for the south side. Does anyone have a larger picture of the the small one posted?
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Old February 16th, 2007, 05:32 AM   #69
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Hell yeah! I love to see the Southside compete with the Northside at some point. This might be the most important step towards that goal.
Who wouldnt love a Chicago that has a massive urban core from Hyde Park to Downtown Evanston? What is that, 15 miles?

The Southside has alot of CTA stations and Metra stations. It has many sites just begging to be redeveloped like 39th and State.
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Old February 16th, 2007, 05:53 AM   #70
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Mixed-Use Development Slated for Chicago's South Side
February 15, 2007
By Dees Stribling, Midwest Correspondent


Chicago-based Capri Capital Partners L.L.C., in a joint venture with Judson Investment Co., has unveiled plans to develop a three-phase mixed-use project on the South Side of the city. All together, the three phases of the project, called the Metropolis, will total about 1 million square feet of residential, retail and ultimately hotel space. Ground will be broken on the project (pictured) sometime this fall.

"We’re following the lead of two neighboring projects, Legends to the south, and the Park Boulevard to the north," Quintin E. Primo III, Chairman & CEO of Capri, told CPN this afternoon. "Sales at those projects have been very impressive, and we expect the same kind of demand for the Metropolis."



The first phase, measuring about 500,000 square feet, will include two six-story buildings. Cost for the roughly 330,000 square feet of retail space and 102 condo units of the first phase will be about $155 million, according to Capri. Future phases will include three additional towers of residential and hotel space.

The project’s location, at 39th and State Street on the South Side, is in Chicago's historic Bronzeville/Grand Boulevard neighborhood. In recent years, according to the developers, the area has been underserved in terms of retail, a situation the development is hoping to help alleviate. Also planned for the site are public green space, a venue celebrating African American history--details of which remain to be determined--and perhaps a digital clock tower.

"The neighborhood has been grossly underserved by retailers for a long time,” noted Primo. “But now they’re very interested in locating there, because of residential growth nearby. We’re definitely going to have a grocery store as a tenant, 58,000 to 70,000 square feet. A bank and a drug store for the location are also very likely."

The residential part of the development will offer both market rate and affordable housing options. About 20 percent of the 102 condominiums will be reserved for low- and moderate-income buyers, earning no more than 80 percent of the area's median per capita income, according to Capri.

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Old February 16th, 2007, 07:33 AM   #71
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That is absolutely STUNNING!!

I wonder what the layout of this development will be in relation to the streetgrid
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Old February 16th, 2007, 09:15 AM   #72
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Old February 16th, 2007, 01:18 PM   #73
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The Bronzeville area (and others to the south along the lakefront down to Hyde Park) that is redeveloping so beautifully today, I hope will be able to accomplish the following:

• continue the restoration and enhancement of the tradition of the Black Metropolis that made it so vibrant in the first half of the 20th century

• do so in a way that it sets the trend for all of Chicago, Chicagoland (and frankly the nation) that is totally integrated and totally welcoming for all.

Do you think it can pull this off...an area with a black soul and black soul itself, keeping the traditons that made it great, but a placed where Martin Luther King would be happy to see people judge people not by the color of their skin but by their their very humanity?
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Old February 16th, 2007, 03:10 PM   #74
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Quote:
Originally Posted by LA1 View Post
Hell yeah! I love to see the Southside compete with the Northside at some point. This might be the most important step towards that goal.
Who wouldnt love a Chicago that has a massive urban core from Hyde Park to Downtown Evanston? What is that, 15 miles?
Why stop at Hyde Park?
Try South Shore to Evanston. More than 20 miles. Manhattan is 13, for comparison sake.
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Old February 16th, 2007, 04:46 PM   #75
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Capri JV Reveals $500M Mixed-Use Project
By Gina Kenny
http://www.globest.com/news/845_845/.../152996-1.html

CHICAGO-A joint venture between Capri Capital Partners and Judson Investment Co., both minority-owned companies based in Chicago, announced Thursday a one-million-sf project called The Metropolis for the South Side of Chicago. The mixed-use project will be completed in three phases at the intersection of South State Street and Pershing Road. The project is currently estimated at $500 million, says Quintin Primo, chairman and chief executive officer of Capri.

The first phase of the development will be two, six-story, curvilinear buildings, with two stories of retail extending from each, totaling 500,000 sf. The buildings will have approximately 330,000 sf of retail on the first two floors with 102 condominium units on the remaining four floors. Construction is estimated to begin in the fall and should take between 15 and 18 months to complete.

The developers are in “preliminary discussions” with a grocery store for 50,000 sf to 70,000 sf, Primo tells GlobeSt.com. There has also been “keen interest” from a “drug store chain” and a bank. “We think that by the time we start demolition of an embankment that is there, we should have between 40% and 50% of the space accounted for,” he says. Primo would not disclose the asking lease rate for the building.

The condominium units will consist of both market rate units and units for buyers with low to moderate income, he says. The market rate units will sell for between $250,000 and $400,000, Primo says. There will be 20% of the units reserved for buyers with low to moderate income, which will sell for between $150,000 and $200,000, he says.

An art and technology center will also be part of the first phase and will likely be constructed in the “expansive green space” around the building, Primo says. The center will probably have a theme celebrating African-Americans and will have a computer center and a recording studio that residents of the area will be able to use for free, he says says. The developers are in discussions with the John B. and Catherine T. MacArthur Foundation to help underwrite the cost of the building, Primo says.

The property adjacent to the development includes two public housing towers. Primo says the developers felt it was important to include affordable housing and amenities for the community, such as the center and a grocery store. “In all of our projects in urban communities, we are committed to serving existing residents,” Primo says.

The development will be a three-phase project and is should be completed in 2013 or 2014. Other phases of the project will include three towers with residential units and a hotel.
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Old February 17th, 2007, 04:58 AM   #76
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Does anyone know what the status of the Southworks project is?
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Old February 17th, 2007, 07:25 AM   #77
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Quote:
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Does anyone know what the status of the Southworks project is?
^ It began weeks ago. Frustrated with tedious city bureaucracy, renegade workers have arrived and begun construction without plans, financing or city approval:

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Old February 17th, 2007, 07:37 AM   #78
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Originally Posted by The Urban Politician View Post
^ It began weeks ago. Frustrated with tedious city bureaucracy, renegade workers have arrived and begun construction without plans, financing or city approval:

Does this kind of thing happen often? Does the city have the power to halt the construction? Do you think there is a strong likelihood that they would halt construction?

Do you know if they have started construction on just one building in the project or are they working on numerous buildings right now?
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Old February 17th, 2007, 07:41 AM   #79
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Originally Posted by Sir Isaac Newton View Post
Does this kind of thing happen often? Does the city have the power to halt the construction? Do you think there is a strong likelihood that they would halt construction?
No. Yes. I don't know.
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Old February 17th, 2007, 07:39 PM   #80
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^ I'm sorry to repost this huge image, but this has got to be the coolest non-highrise project planned in Chicago. WOW!.
It's oozing with style, from the curvaceous lines to the stacked floors to that winding staircase in the middle of the park. Architecture is back in a BIG WAY, baby!

If this were planned on the northside, I"m sure there would be a flurry of discussion about it. But for me, I am very excited to find out more about this development
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