Friday, November 21, 2014

More "gentrification watch" in Englewood via Curbed Chicago

Curbed Chicago spoke to a retail broker who opined on the future Whole Foods Market Englewood development:
"It is a changed community already," says James Matanky, a real estate broker and President of Matanky Real Estate Group, which is wooing retail tenants such as Whole Foods to Englewood as part of a much-discussed development set to open in spring of 2016. When asked about issues of gentrification this development introduces, he pointed to support from the neighborhood, alderman, students at Kennedy-King College college and the $10 million city investment in the 13 acre property as evidence that others see this as a economic catalyst. His role bringing in big name like Whole Foods helps embolden other potential tenants, he says, and helps bring more needed goods and services into the neighborhood. "We as brokers and developers need to show them they won't be the only one, and that the investment will bring profit," he says.
BTW, they mentioned Walgreen's as a trailblazer. Walgreen's has always been at 63rd & Halsted although perhaps at a different location than they are now. What other exciting development is in store once Whole Foods Market Englewood is finally online.

Previously: CurbedChicago: Will the Englewood Whole Foods Change the Neighborhood?

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