News
Sky’s the Limit for Marshall Field Apartments
January 27, 2015
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Now that Related Midwest is close to acquiring Metroplex’s 4,000-unit Old Town affordable housing portfolio (as Crain’s reported), the 628-unit historic Marshall Field Garden Apartment complex, which is a part of it, may see some creative redevelopment strategies, according to Curbed. The linchpin: the site’s development restrictions, from a ’92 HUD sale, end in ’17, making mixed-use a viable option.
It’s a tricky thing, since you’re dealing with a dearth of available land nearby as well as potential objections from the NIMBY set and preservationists. (The Finkl site’s going through similar issues nearby.) But if the current multifamily pipeline gives any indication, market demand will most likely win out.
