Midwest

For developers of affordable housing, a certain amount of NIMBYism is virtually inevitable. But the contentiousness of our times has amplified the rumbling of, “not in my backyard,” into a shout. Time consumed in countering the claims and tactics of affordable housing opponents can damage or derail a developer’s plans — delaying approvals, raising costs and in some cases causing the project to be abandoned altogether. At a time when large segments of the population have been priced out of many neighborhoods, the need to defuse NIMBYism is critical, not simply for preserving individual communities, but also for protecting the greater social fabric. Fortunately, time-tested strategies that have long been used to win over local affordable housing opponents become even more effective when shifted to web-based platforms. Savvy developers are now using their websites and social media to discredit stereotypes about affordable housing communities, demonstrate transparency and promote dialogue. When community members realize that affordable housing is something that can contribute to their neighborhood rather than detract from it, the conversation changes dramatically. Introduce Yourself with a Compelling Website Opponents of affordable housing often couch their objections as an appeal to the greater good, highlighting the potential effect a community …

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WESTMONT, ILL. — A joint venture between a fund managed by DRA Advisors LLC and Marquette Cos. has acquired Westmont Village Apartments, a 558-unit apartment community in Westmont, about 20 miles west of Chicago. The purchase price was not disclosed. The property consists of 31 buildings. Units average 1,100 square feet. The seller, Long Wharf Capital LLC, recently completed unit renovations and constructed a new resident clubhouse with a fitness center, outdoor swimming pool, dog park and picnic area. Kevin Girard, Marty O’Connell, Sean Fogarty and Wick Kirby of HFF represented the seller.

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PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health has completed construction of Mission Chateau Senior Living Community in Prairie Village, just south of Kansas City. Development costs for the 214,800-square-foot, 18.4-acre development were estimated at $55 million. The community features 22 independent living villas, 121 independent living apartments, 40 assisted living units and 40 memory care units. Other offerings include on-site home healthcare and several Tutera rehabilitation and skilled nursing facilities nearby. Tutera has also teamed up with 20/20 Fitness in Prairie Village to offer residents wellness services. Partners on the project included interior design firm studioSIX5, engineering firm BHC Rhodes, Nearing Staats Prelogar & Jones Architects and Luke Draily Construction Co.

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CHICAGO — First Logistics, a third-party logistics company, has signed a 331,059-square-foot industrial lease in Chicago. The Illinois-based company is expanding from its current facility in Alsip and will occupy the new space immediately. Located at 2075 W. 43rd St., the speculative development spans 633,057 square feet and features a clear height of 32 feet. Known as Marina Crossings, the rail-served property is situated on 35 acres. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire of Cushman and Wakefield represented the landlord, Marina Crossings Owner LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management. Larry Hanley of Midwest Commercial Real Estate represented the tenant.

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CRYSTAL LAKE, ILL. — Podolsky Circle CORFAC International has arranged the sale of 300 Millennium Drive in Crystal Lake for $8 million. The 92,453-square-foot industrial building is fully leased. It features a clear height of 21 feet, three truck docks, three drive-in doors and office space. Alissa Adler, John Homsher, Paul Tesdal and Stephen Podolsky represented the buyer, MR Michigan LLC. A local investor purchased the asset.

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COLUMBUS, OHIO — Hertz Investment Group, owner of 65 East State, has planned  a $2.5 million renovation of the 26-story office building in Columbus. Additions include an 80-person conference room and a café area. The lobby will receive updated lighting, new seating areas, new artwork and an electronic directory. The existing locker rooms will be remodeled and updated to support the new fitness center. The landscaping, signage and outdoor patio will be updated as well. Andy Jameson and Dan Dunsmoor of Colliers International handle leasing for the 494,488-square-foot property.

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CLEVELAND — Berkadia has arranged a $33.2 million loan for the refinancing of US Bank Centre, a 15-story office property in Cleveland’s Theater District. Located at 1350 Euclid Ave., the building features 255,072 square feet of leasable space and a parking garage. Mark Vogel and Dan Geuther of Berkadia arranged the loan on behalf of the borrower, The Wolstein Group. Bank of America Merrill Lynch provided the 10-year, fixed-rate loan, which features a 67 percent loan-to-value ratio and two years of interest-only payments.

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MELROSE PARK, ILL. — ODW Logistics Inc. has leased an entire 343,410-square-foot industrial building in Melrose Park. The property, which features railway access, includes 84 truck-level docks, 17 trailer positions, 10 rail doors, 120 car parking spaces, two air freight doors and 30,000 square feet of office space. John Joyce of Transwestern represented the landlord, TSP Melrose Park LLC. Dan McGillicuddy of JLL represented the tenant.

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INDIANAPOLIS — Colliers International has brokered the sale of Commerce Park, a seven-building office portfolio in Indianapolis. The sales price was not disclosed. The portfolio totals 133,749 square feet and is located off 86th Street. The buildings are home to a variety of healthcare, construction and professional services tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, Orton Development Inc. Ziff Properties Inc. purchased the portfolio.

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ST. LOUIS — Lawrence Group, the developer for City Foundry STL, has unveiled that the 30,000-square-foot food hall at the mixed-use project is now 50 percent preleased. The lineup of food vendors is exclusive to the development and St. Louis. Tenants include CropCircle, serving country fair-type foods; Good Day, offering crepes and breakfast sandwiches; Hello Poke, serving fresh poke and seafood; Lost & Found, a burger and pizza joint; Juice Box Central, a drink station with juices and smoothies; Mokyu Mokyu, selling ice cream with a Japanese and Korean flair; Press Waffle Co.; serving made-to-order waffles; Sumax, known for its Middle Eastern hummus and wraps; and UKraft; offering breakfast bowls, sandwiches, and soups. City Foundry STL is the adaptive reuse of the former 10-acre Century Electric Foundry complex in St. Louis’ Midtown neighborhood. The $210 million first phase will include 122,000 square feet of restaurant and entertainment space, 105,000 square feet of shops and 107,000 square feet of office space. Additional tenants will be announced this spring. Phase I is slated to begin opening in mid-2019.

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