Alderman Smith announced a Public Meeting to be held on November 21st at 6:30PM at the DePaul Student Center (2250 N. Sheffield). Redevelopment plans have been held up since last year as a solution was found for the overcrowded Lincoln Elementary School. With the issue resolved, McCaffery Interests is finally able to present revised plans to the Community. We hope to see you out to hear about our exciting vision for the site and to gain your support.
CPS, Mayor Rahm Emanuel, Alderman Michele Smith, Principal Mark Armendariz and LSC member Nadia Riley, today announced an annex to solve the issues of overcrowding at the Lincoln School. McCaffery Interests extends our congratulations to everyone who worked together to find this solution. The expanded school will be a valued neighborhood amenity to all in Lincoln Park.
Plan ahead so you don’t get stuck this weekend. The marathon winds through 19 neighborhoods over the 26 mile course and ~1.7 million people will turn out to cheer on the runners. It is an exciting event but one that requires a lot of coordination, cooperation and patience.
You have probably spied the fun new Divvy bikes around the City. There are now stations in the area for your convenience at Halsted and Dickens, Larabee and Webster, and Sedgwick and Webster. Rediscover the pleasure and freedom of riding a bike… and do something great for the environment!
Saturday, September 21 (5 p.m. to 10 p.m.)
2335 N. Orchard, Chicago (Lincoln Park)
Prost! It’s Munich meets Chicago as St. Pauls hosts an Oktoberfest extravaganza in celebration of our German heritage. What better way to tap into the excitement of this Bavarian tradition than with an evening of authentic German food and beer, games for all ages, live music, dancing and a photo booth to capture the memories. Grab your lederhosen and join us for this festive evening of friends, food and fun! Admission is free. This event is open to the public and family friendly. We look forward to our neighbors joining in the festivities! In the case of inclement weather, the event will be held in the St. Paul gymnasium.
VOLUNTEERS WANTED! How do we pour 300 beers, serve 250 brats and run games for five hours? With the help of volunteers! Can we count on you to be one of them? Our valued volunteers will work 2 hour shifts and receive two free food/drink tickets, as well as enjoy the chance to meet new people, support St. Pauls’ neighborhood outreach efforts, and have fun!
To volunteer, contact Ann Carstensen at email@example.com. Thank you for volunteering!
Move for the Kids 5k Run/Walk is an inspirational fundraising event to benefit the patients and families at Ann & Robert H. Lurie Children’s Hospital of Chicago. On May 19, 2013, participants will start and finish at historic Soldier Field and travel along Chicago’s beautiful lakefront path.
We hope you will join us for this family friendly, inspirational event and help spread the word to your friends, family and colleagues. There are several ways you can get involved. See here for more information.
The study, The Trillion Dollar Apartment Industry, found that apartments contribute $1.1 trillion to the national economy and support 25.4 million jobs.
“People underestimate the economic impact that flows from apartment buildings,” says Stephen S. Fuller, an academic researcher at George Mason University’s Center for Regional Analysis who conducted the study.
“It’s always that first splash of new construction that gets the attention,” Fuller notes. “No one pays attention to ongoing maintenance or to the people who live in these properties. By not paying attention to them and the long-term effect they have, people underestimate their importance to the overall economy.”
Multifamily construction contributed $42.5 billion to the national economy, and construction spending spurred $12.7 billion in personal earnings, while supporting roughly 324,000 jobs, in 2011. That’s nothing to sneeze at. But resident spending on goods and services produces an economic contribution nearly 21 times greater than construction.
Apartment resident spending drove nearly 80 percent of apartments’ total contribution to the national economy in 2011 and sustained nearly 90 percent of the total jobs supported by apartments. In 2011, the country’s 35 million apartment residents contributed $885.2 billion to the national economy. Renter spending also generated $222.0 billion in additional personal earnings and supported 22.8 million jobs during the year.
“Renters spend more of their income locally than homeowners,” Fuller points out. “These renter households generate a lot of jobs that ordinarily wouldn’t be associated with the apartment industry.”
Based on average spending and after-tax earnings, apartment residents had $628.5 billion in disposable income in 2011. Nearly three-quarters of that amount, or $421.5 billion, was spent on consumer goods and services produced in the United States.
Apartment residents spent a significant portion of those available dollars on housing, food, and transportation—their three largest expenditures—followed by utilities, fuels, and public services; apparel and services; and entertainment. Roughly 70 percent of the dollars residents spent on those items stayed within the local economy.
In addition, the industry spent $67.9 billion on apartment operations in 2011. And that spending directly supported local employment and business activities across four main categories: utilities; repairs and maintenance; management; and building services, including materials and labor costs.
When the indirect effects of that spending are factored in, the operation and maintenance of the nation’s entire stock of apartments had a total economic contribution of $182.6 billion in 2011.
To read the article in its entirety, visit http://www.multifamilyexecutive.com/apartments/chain-reaction.aspx
A new research paper determined that residential properties near transit stations in five major cities across the US maintained their values significantly better than properties outside of “transit sheds.” The New Real Estate Mantra: Location Near Public Transportation (pdf), commissioned by the American Public Transit Association in partnership with the National Association of Realtors, examines the Chicago, Phoenix, Minneapolis-St. Paul, Boston, and San Francisco regions
“Across the study regions, the ‘transit shed’ outperformed the region as a whole by 41.6 percent,” according to the report, prepared by the Center for Neighborhood Technology in Chicago. The “transit shed” was defined as areas within a half mile of fixed-guideway transit stations, including both rail and bus rapid transit. While the transit sheds performed better than their regions in every region study, the areas outside of the transit shed underperformed.
Better! Towns and Cities March 19, 2013 newsletter makes a case for minimizing parking requirements based on data which shows the population is driving less.
A recent blog from Twin Cities Sidewalks highlights growing evidence that vehicle miles may have peaked. If the right policies are put in place, vehicle miles can go down even as the population and economy rises. The graph dramatically shows the historical trends of vehicle miles traveled in the US and how they have changed in recent years. Young adults, who may set the direction for generations to come, are on a steep downward trajectory. After that graph came out, the Federal Highway Administration reported that only 67 percent of 16-to-24 year olds had driver’s licenses in 2011, the lowest level since statistics have been kept. For cities, where more alternative transportation options are available, the trend is potentially stronger: from 2005 to 2009, as the population of Washington, DC, grew by 15,000, car registrations in the District dropped by 15,000, according to Jeff Speck in Walkable City. This adds impetus to getting rid of policies like minimum parking requirements (why turn America into even more of a parking lot than it already is?). Let’s, instead, go with the flow and spend more on walking, biking, and mass transit, and less on expanding highway capacity for cars that likely will not be there.