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September 17, 2020

Obama Center Deal Hints At How Lightfoot Will Handle Escalating Gentrification Controversy

When the nonprofit Obama Foundation announced in 2016 it had selected Jackson Park on Chicago’s South Side as the location for the Obama Presidential Center, its trustees promised the city’s first presidential library would eventually attract billions in new investment to the predominantly low- to moderate-income Woodlawn community surrounding the site near 60th Street.

Many neighborhood groups cried foul, worried it meant gentrification and displacement. The announcement also kicked off a federal lawsuit filed by preservation groups that said the proposed four-building complex would mar the historic green space, which Frederick Law Olmsted helped design. The lawsuit was later dismissed and a federal appeals court rejected the plaintiffs’ appeal on Aug. 21.

But the resistance from prospective neighbors was stubborn.

Obama Center Deal Hints At How Lightfoot Will Handle Escalating Gentrification Controversy

"Residents need to buckle down and figure out how to stay here," Woodlawn East Community and Neighbors Executive Director Mattie Butler told the Chicago Tribune in 2016.A 2019 study from the Network of Woodlawn, a community development agency, and engineering firm AECOM,…

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Citing Taxes, Economy, Trump's Powerful CRE Supporters Pump Millions Into His Campaign

While some commercial real estate leaders have begun to shift toward Joe Biden as the former vice president maintains a lead in election polling, President Donald Trump still has a strong base of support — and millions in campaign cash — from the industry he came up in. 

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Behind A Former Florida Mayor's Idea For Real Estate Climate 'Restoration Bonds'

Politicians and developers in South Florida love to cheerlead about how great the region is, often brushing off concerns about climate change to instead talk about beautiful beaches and tax advantages. But Philip Stoddard, a Florida International University biology professor and the former mayor of South Miami, has a darker take.

“My biggest concern is infrastructure collapse,” Stoddard told Bisnow during a recent call.

Every day, people are taking out 30-year mortgages on homes in the region, but there’s likely to be at least one more major hurricane in the next three decades, Stoddard said. That chance, combined with the threat of sea-level rise, means that sooner or later, flood insurance rates will become unaffordable and banks will stop lending. Property values will drop, the tax base will fall out, and there won’t be any money to pay for teachers, parks or police, he worries. 

“This is how societies unravel,” Stoddard said.

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'Back To The Future' DeLoreans And A Developer That Threatened The British Banking System: How The Wild Birth Of CVAs Is Shaping Today’s Property Market

 

LONDON — As Britain’s major landlords this week digest the implications of creditors to New Look approving a company voluntary arrangement that will slash the retailer’s rents, did any of them sit there and ask: Who invented the CVA, why and how did it come to this? 

Perhaps they should have done. Because the origin story of how CVAs became part of the British business and property landscape gives an insight into what the process was meant to do and how it is reshaping towns and cities today. It is a story that takes in a property developer whose eventual bankruptcy broke records and was seen as posing a threat to the stability of the financial system, and the DeLorean cars made famous in the Back to the Future film series. Its echoes reverberate down the years to be heard today. 

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