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October 21, 2020

Lightfoot's New Community-Oriented Approach Could Change How Developments Get Done Or Be More Of The Same

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Mayor Lori Lightfoot directed some tough words toward Chicago’s business community on the night of her knockout April 2019 election victory, claiming the cozy deals between wealthy interests and City Hall were a thing of the past.

“We will put the interests of our people, all of our people, ahead of the interests of the powerful few,” Lightfoot said.

But transforming campaign rhetoric into effective action has not proven easy. 

Lightfoot's New Community-Oriented Approach Could Change How Developments Get Done Or Be More Of The Same

Shortly after her election, city council approved a $900M, 168-acre tax increment financing district designed under her predecessor for Sterling Bay’s Lincoln Yards, a proposed development sandwiched between the North Side neighborhoods of Lincoln Park and Bucktown. The council also approved a 

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Simon, Brookfield Inch Toward Final JCPenney Co. Purchase, Spinoff Of Real Estate

Century-old retailer JCPenney may have finally found its buyer this week after a long and rocky bidding and negotiation process. 

Simon, Brookfield Inch Toward Final JCPenney Co. Purchase, Spinoff Of Real Estate

Mall operators Simon Property Group and Brookfield Property Group won an eleventh-hour bidding war that erupted when some of Penney's lenders jumped into the fray last minute to attempt to acquire the retailer. The Plano, Texas-based retailer said in a 

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Co-Living Fights To Survive As Shared Spaces Remain Restricted

 

The coronavirus pandemic has hampered most co-living companies, Starcity CEO Jon Dishotsky said, but the pain has so far been much worse for some than others.

Among the most severely impacted operators is HubHaus, which announced last month that it will shutter permanently. The Los Altos-based company came to manage over 1,000 bedrooms, many of which were in the Bay Area, but it told tenants and homeowners in September it couldn’t pay October rent and was shutting down, multiple outlets reported.

The closure of HubHaus, which master-leased single-family homes in a co-housing model, and the contrasting resilience of co-living developers and owners may mean more of the latter lasts through the pandemic, despite immense challenges for both parts of the industry. 

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Trump's Crackdown On Worker Visas Could Bring More Pain To Top Tech Markets

Foreigners are less interested in renting U.S. apartments in key technology-heavy markets, underscoring the impact of the Trump administration's restrictive immigration policies that have caused the numbers of foreign workers to slow to a multi-decade low.

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