News
Big Plans
February 3, 2011
| As McCaffery Interests celebrates its 20th year, it has promoted former VP Ed Woodbury to president and founder Daniel McCafferyto chairman, giving Ed day-to-day responsibilities for the hundreds of acres of development across the country. | |
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| After opening Flair Tower, a 198-unit apartment building at 222 W. Erie, last year, they're now working on a multi-phase, 500-acredevelopment on the South Side and a 7.5M SF retail center in Alexandria, Va. The Chicago development has already been rezoned and McCaffery is marketing the first phase, which will include 1,000 homes and about 800k SF of retail. Ed and Daniel have been in business together for more than 25 years, growing their company from just five people to 60 in two offices. | |
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| Ed tells us the development will take up to 30 years, much longer than his term as president, but the largely vacant tract of land lends itself to master-planned development. CDOT has already financed the project and is working on getting Lake Shore Drive extended to the Calumet River to allow easier access to the site. They've also thrown their hat in the ring to develop the former Children's Memorial Hospital Site in Lincoln Park and are building apartment towers in Northern Virginia and Pittsburgh. | |
