HOW BIG IS THAT IN CBDS?
|The new Lakeside Development that McCaffery Interests plans to break ground on in 2013 is a little smaller than 600 acres. Can't visualize that? It's more than one Loop, McCaffery's Nasusta Mabwa told IREM members at their luncheon yesterday. A $98M TIF has already been approved for the first phase—some of that will go to extend Lake Shore Drive down to 95th Street. But it won't be the LSD we all do 40 mph on, Nasusta says. Instead it will be built out with pedestrian sidewalks and medians. McCaffery has planned about 1M SF of retail for the project but has to have 60% of that leased in each phase before they start building it out.|
We snapped Fifield's Alan Schachtman and Suites Collection's Lee Dickson. Alan is working on a development of his own with K Station's final apartment tower, K2. The building is set to break ground soon and will include just under 500 units. Alan says they've saved the best for last as the finishes have gotten just a little better at each building. Lee is leasing independent office space at 101 W Grand, 4 E Ohio and 60 W Randolph. While leasing is going well, she's still losing clients to Starbucks as lots of young mobile workers are looking for cheap solutions.