Related Midwest, the Related Affordable Foundation and Related Affordable Management Company recently celebrated the opening of a newly renovated playground at Marshall Field Garden Apartment Homes, a 628-unit affordable housing community in Chicago’s Old Town neighborhood.
Related partnered with KABOOM!, a national nonprofit organization focused on ending playspace inequity, to construct the new playground. Related Midwest previously led a $175 million renovation of Marshall Field Garden Apartment Homes following the firm’s 2016 acquisition of the property, one of the largest affordable housing communities on Chicago’s North Side and listed on the National Register of Historic Places.
The playground’s completion comes after Related and KABOOM! hosted a design day at the community, where residents shared visions for their dream playspace. These ideas were integrated into the final playground design. The ribbon-cutting event was attended by Related, residents, community members and partners, including representatives from the U.S. Department of Housing and Urban Development.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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