AMLI & CORNERSTONE'S BIG PLANS
AMLI's $150M River North multifamily rental project has climbed to the sixth of 50 floors, with occupancy slated for summer ’13—and it has more in its development pipeline. To hear about 'em first hand, join us for Bisnow's third annual Chicago Multifamily Summit on March 13, featuring founder Greg Mutz and other illustrious speakers. Register here! |
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| Greg expects renters at River North to be young professionals who can walk to a live/work/play option near The Loop and River North, suburban empty nesters hankering for city living, and divorced people who want a place to regroup for a year or two. (The Bolingbrook and Schaumburg IKEA s must be licking their furnitured lips.) The Chicago market (where three of AMLI's 25 multifamily projects are located) is solid and strong, he says, with job creation and household formation outstripping the apartment supply. AMLI also has developments underway or planned in Southern California, Seattle, Denver, Dallas, Austin, Atlanta, and Southeast Florida. |
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| Also speaking will be Cornerstone Real Estate Advisers managing director Steve Wallace. He says his firm was a “very active” multifamily buyer last year and this year has “ample capital” for additional investments in core and value-add properties. It's also ready to dish out some moola for new development. Its targets: high-barrier coastal markets like Boston, NY, DC, and San Francisco. It also fancies high job growth markets such as Austin, Dallas, and Phoenix for value-add plays. | ||
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