Wednesday, June 19, 2019

Hubbard Street Group Partners with Scooter-Sharing Company Spin at The Field’s Lofts Apartments on Chicago’s Northwest Side


Ellen Gottschling
  
CHICAGO, IL — Chicago-based Hubbard Street Group (HSG) has partnered with scooter-sharing company Spin to establish a drop-off/pick-up point at The Field’s Lofts, HSG’s new 123-unit loft-style rental community at 4000 W. Diversey Ave., near Chicago’s Logan Square neighborhood. 

Spin, a subsidiary of Ford Motor Company, is one of 10 companies participating in the city of Chicago’s four-month pilot program, running through Oct. 15, across 50 square miles on the West, Northwest and Southwest sides of the city.

“We wanted to be a pioneer and partner with Spin to locate scooters at The Field’s Lofts,” said John McLinden, managing partner of Hubbard Street Group (HSG).

 “The scooters are a great addition to our project in that they allow our residents to travel from their homes to the Blue Line and Logan Square in five minutes.

"On the first weekday the Spin scooters were available, they were gone by 8 a.m., showing the demand for low-cost, easy-to-access transit. We’ve already requested double the number of scooters.”

John McLinden

For the first two weeks, Spin is offering residents of The Field’s Lofts a $7 voucher. The scooters, which are housed on the property’s surface lot, cost $1 to unlock and 15 cents per minute of use.

Spin picks up the scooters wherever they’re parked around the city every evening, and will return them to The Field’s Lofts the next morning.

“Spin is always looking for ways to integrate micromobility naturally into people’s commutes and day-to-day travels,” said Ellen Gottschling, a community partnerships manager at Spin.

 “We’re excited to partner with The Field’s Lofts to fulfill that mission of connecting residents to sustainable transportation in an organized and seamless way.”


The Field's Lofts, 4000 West Diversey Avenue, near Chicago’s Logan Square neighborhood. Chicago, IL

An estimated 46% of car trips in urban areas are less than 3 miles, and micromobility options such as e-scooters and bikes are often more convenient and affordable than taxis, public transportation or walking, according to Cushman & Wakefield’s “Mobility Shifts in Commercial Real Estate” report.

Since 2017, e-scooters have already captured a 3.8% market share in the markets where they operate, disrupting ride-hailing services for short trips, according to the report.

The Field’s Lofts welcomed first move-ins in April and is currently 50% leased. Housed in a portion of the former Marshall Field’s warehouse, the community offers junior one-, one- and two-bedroom residences ranging from 542 square feet to 1,330 square feet.

Rents start at $1,495 per month for junior one-bedrooms; $1,795 per month for one-bedrooms; and $2,395 per month for two-bedrooms.

Each apartment features a selection of high-end finishes including Balterio gray-tone plank flooring; contemporary kitchens with premium soft-close cabinetry, tile backsplashes, under-cabinet lighting and stainless steel Whirlpool appliances; Kohler plumbing fixtures and undermount sinks; floating vanities and frameless glass showers in baths; solar window shades; and bedroom closets with custom-built organizer systems.

The Field's Lofts, one bedroom
In addition, architectural details like 24-inch-round columns, 14- to 17-foot ceilings and steel-frame windows maintained during the renovation of the former warehouse make The Field’s Lofts an authentic loft living experience.

Common areas designed by architectural firm Hirsch MPG and design firm Harken Interiors pay homage to the building’s rich history through use of color – the Marshall Field’s signature shade of green is featured prominently throughout — as well as accessories such as original signage.

The scooters, which are housed on the property’s
 surface lot, cost $1 to unlock
and 15 cents per minute of use.

For more information or to schedule a showing, visit fieldslofts.com or call
(773) 451-6452.

CONTACTS: 

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528


Evergreen Real Estate Group Completes Renovation of Bethel Terrace Apartments on Chicago’s South Side

  
Bethel Terrace Apartments, a 123-unit affordable senior housing community located at 900 West 63rd Parkway in Chicago’s Englewood neighborhood. 

CHICAGO, IL — Evergreen Real Estate Group, a leader in the development, rehabilitation and management of both affordable and market-rate multifamily housing, announced the completion of a $4 million renovation of Bethel Terrace Apartments, a 123-unit affordable senior housing community located at 900 W. 63rd Parkway in Chicago’s Englewood neighborhood. 

Evergreen Construction Co., the firm’s full-service construction arm, managed the six-month project as a phased, “in place” renovation that allowed residents to remain in their homes as improvements were made.

Steve Rappin
Evergreen also helped secure the renewal of Housing and Urban Development (HUD) Section 8 HAP tenant-based assistance for an additional 20 years to help preserve affordability. 

“We’re proud to play a role in the continued revitalization of Englewood, not only through new-construction projects like the adjacent Sangamon Terrace Apartments, an affordable senior housing community our firm completed in 2015, but also through the rehabilitation and preservation of existing affordable residences like those at Bethel Terrace,” said Steve Rappin, CEO of Chicago-based Evergreen Real Estate Group, which manages the property.

“This project, in particular, underscores our broader commitment to making quality housing accessible to seniors across all income levels, allowing them to age in place comfortably and affordably.”

Andre Pintauro
“The renovation work at Bethel Terrace demonstrates a true collaborative effort between Evergreen and the building’s nonprofit owner, Englewood Cooperative Apartments,” said Andre Pintauro, president of Evergreen Construction Co. 

“Synergies with our property management and facility team helped tremendously with the phased construction. 

"Through continuous communication with residents, we were able to be transparent and methodical in updating the community without disrupting the day-to-day lives of residents.”

“Thanks to the new cabinets and countertops, my kitchen has a fresh new look,” said Veronica Payne, a 20-year Bethel Terrace resident and president of the community’s board. 

Veronica Payne
“I’ve heard from so many residents who received upgrades and love their new and improved home. This summer, we’re also looking forward to spending more time enjoying the new patio.”

Residential units at Bethel Terrace were updated with new flooring; paint; appliances, cabinetry and countertops in kitchens; vanities and plumbing fixtures in baths; energy-efficient baseboard heaters with programmable thermostats; and LED lighting. Improvements to common areas included new paint, flooring, lighting, elevator upgrades, shared Wi-Fi and an enhanced security system. 

Outside, Evergreen Construction Co. completed a fa├žade restoration and roof replacement, installed new lighting and landscaping, replaced fencing, repaired sidewalks, repaved the parking lot, and added a new garden patio with accessible seating. The Illinois Housing Development Authority (IHDA) provided financing for the rehabilitation.

CONTACTS:

 Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528 



Camille Renshaw Named 2019 Women of Influence Honoree for Innovation Achievements

Camille Renshaw
NEW YORK, June 18, 2019 – Camille Renshaw, Chief Executive Officer of B+E, is a 2019 Women of Influence honoree for achievements in innovation, as named by Real Estate Forum.

Since 1983, the Real Estate Forum’s Women of Influence has recognized remarkable commercial real estate professionals who have significantly influenced the market or had outstanding successes in the past year. This year, Camille was selected from a record-breaking 350 submissions.
Launched by Renshaw and her cofounder Scott Scurich in December 2017, B+E is a modern investment brokerage firm, specializing in net lease real estate and 1031 exchange.  

Scott Scurich
With offices in New York, Chicago, San Francisco, Atlanta and Tampa, B+E boasts the first NNNtrading platform consisting of user-friendly dashboards, real-time predictive pricing and an AI-driven exchange -- all leveraging the largest data set in the NNN industry. 

Buyers and sellers can conduct entire transactions online, reviewing real-time credit, news and tenant data while they trade, much like online stock trading platforms.  Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies and stronger asset value. 

In May 2018, B+E launched 1031 Trade, the first trading platform for completing 1031 exchanges.  Coupled with this product launch, B+E announced an exclusive partnership with Inland Real Estate and RCX Capital Group.  


Contact:

John Vita
John Steven Vita Communications
847/853-8283

LNW Hospitality and New Castle Hotels & Resorts Break Ground on Oceanfront Marriott Dual Brand on Jekyll Island, GA

Dave Curtis [left], managing partner of LNW Hospitality; Julian Buffam [center], principal at New Castle Hotels & Resorts; and C. Jones Hooks, executive director of the Jekyll Island Authority, shovel sand at the groundbreaking for the Residence Inn by Marriott/Courtyard by Marriott on Jekyll Island, Ga. 

Photo credit: New Castle Hotels & Resorts

Jekyll Island, GA – LNW Hospitality and New Castle Hotels & Resorts, the team that developed the successful Westin Jekyll Island and Hampton Inn & Suites Jekyll Island, broke ground on their newest project, a 209-room oceanfront Residence Inn/Courtyard by Marriott on Jekyll Island, GA. 

 The property is scheduled to open in the spring of 2021.

The new hotel, which features 120 Residence Inn by Marriott rooms, as well as 89 Courtyard by Marriott rooms, will sit on a 5.8-acre oceanfront parcel.  




The two Marriott brands, combined on one property, will offer guests an exceptional experience.  Amenities include the largest pool on Jekyll Island, a large hot tub, a splash pad for children, fire pits, a Bistro restaurant, an indoor/outdoor bar and restaurant, a fitness center, and 2,600 square feet of meeting space.

“We’ve carefully designed this hotel to provide a seamless, unforgettable guest experience,” said Dave Curtis, managing partner of LNW Hospitality. 

 “LNW Hospitality has a 35-year record of success on Jekyll Island, first in restoring the Jekyll Island Club Hotel, as well as developing the Hampton Inn, Westin, and Jekyll Ocean Club.  

Jekyll Island Club Hotel, Jekyll Island, GA

"We’re pleased to partner again with New Castle Hotels and Resorts, Marriott International, and the Jekyll Island Authority, to create this stunning new getaway.”

“A dual-brand product offering gives guests more choice in accommodation while minimizing overhead through shared amenities and resources, which is particularly advantageous in a seasonal resort,” noted Julian Buffam, principal, New Castle Hotels and Resorts, which is co-developing the project and will operate the hotel upon completion.  

“The rich guestroom and amenity packages offered by Residence Inn and Courtyard by Marriott make both brands particularly popular with leisure travelers and convention goers.  These brands will be exactly the right addition to Jekyll’s family-friendly product mix.”

Jekyll Ocean Club, Jekyll Island, GA

A barrier island off the coast of Georgia, Jekyll Island became a tourist destination for the richest families in America in the late 1800s.  Over the past 15 years, more than $200 million in public and private investment has been made on the island.  

Today, Jekyll Island is home to eight hotels, a world-class ocean-front convention center, and numerous amenities to support tourism on the island.

Money Magazine ranked Jekyll Island the top place to go for vacation in 2019.  Over the last five years, the number of visitors to the island has grown by six percent per year.

“Responsible development is always at the core of our decision making, to ensure we do not overdevelop for the sake of additional lodging,” said C. Jones Hooks, executive director of the Jekyll Island Authority.  


Julian Buffam
“It’s important to understand that even with these additional 209 rooms from the new Courtyard and Residence Inn by Marriott, we will still be 100 rooms below historic ‘peak hotel room’ capacity numbers for the island, ensuring we continue to maintain the island’s natural character. 

"This project embodies our goal of welcoming new and different kinds of visitors, including business travelers and families, while remaining committed to conservation and stewardship of the island’s delicate balance.


Contact:

Lauralee Dobbins
Write Touch PR
856-979-8929



Luxury pre-war 81-year-old elevator building in prestigious Brooklyn Heights, NY offered for sale


25 Monroe Place,12-story, 67-unit, luxury apartment
 building, Brooklyn Heights neighborhood, Brooklyn, NY

Jeff Julien
NEW YORK, NY, June 19, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has been selected to exclusively market the sale of 25 Monroe Place, a 12-story, 67-unit, luxury apartment building located in the Brooklyn Heights neighborhood of Brooklyn, New York.

This offering provides a rare opportunity to acquire a trophy asset in the most sought-after neighborhood in Brooklyn.

The vast majority of the property is comprised of fair-market units not subject to rent stabilization.

25 Monroe Place is situated in the Brooklyn Heights historic district, which provides immediate access to Manhattan, the Brooklyn Waterfront, Brooklyn Bridge Park, Downtown Brooklyn and DUMBO.

Rob Hinckley
Brooklyn Heights is characterized by charming brownstones and plush tree-lined streets, and the property is surrounded by medium- and low-density buildings that provide water and Manhattan skyline views.

Built in 1938, 25 Monroe Place combines pre-war architectural elements and spacious apartment layouts with newly upgraded condo-quality finishes, including custom millwork; kitchens with Caesarstone countertops and marble tile and backsplashes; and bathrooms with custom vanities, stone and tile work, La Cava sinks and Grohe plumbing fixtures.

25 Monroe Place is now positioned as the most luxurious rental asset in Brooklyn’s most coveted neighborhood.

Brooklyn Heights has a rich history as the premier residential location in Brooklyn for over 150 years and represents a mature housing market with best-in-class convenience, amenities, culture and streetscape beauty.

Steven Rutman
The HFF investment advisory team is led by managing directors Jeff Julien and Rob Hinckley and director Steven Rutman.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

For more information, please please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

JEFFREY JULIEN
NY Lic. #40JU1081538
HFF Managing Director
(212) 245-2425

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403