View Single Post
  #71  
Old Posted Jan 27, 2013, 7:27 PM
the urban politician the urban politician is offline
The City
 
Join Date: Jul 2004
Location: Chicago region
Posts: 17,635
Quote:
Originally Posted by spyguy View Post
There's a community meeting on January 30th at 7 PM to discuss plans for a mixed-use development on the McMobil site. This is apparently being built by the University and Mesa Development.
^ That's great news. A project of significant scale is much more likely to be financed with the University behind it. This is as opposed to the other projects (Antheus) in Hyde Park that have been sort of sitting there lingering.

We are in the midst of a time in Chicago when either very small projects (renovating a 2 or 3 flat) are going to happen, or very large ones (a highrise or large mixed use development) with single or multiple deep-pocketed players (or developers with excellent track records and good lender relations) are going to be involved.

Unfortunately, it makes things more difficult for the small time developer/entrepreneur who wants to break into the real estate development business. It also doesn't help that a lot of small banks in Chicago, which tend to take more risk, have collapsed (from this week's Crains).
__________________
Eat less
Reply With Quote