Recent News

Alexandria to rezone Potomac Yard around new Metro stop

14-Jun-10 - The Alexandria City Council voted Saturday to rezone the 69-acre North Potomac Yard area in an effort to convert the big-box retail center into a mixed-use development, complete with a new Metro stop on the Blue and Yellow lines. Read more: Alexandria to rezone Potomac Yard around new Metro stop - Washington Business Journal

Downtown Chicago rental market soaring

13-Jun-10

Flair Tower: MHN Online - Mixed-Use Tower, Containing 198 Luxury Apartments Opens in Chicago

04-Jun-10 - By Eugene Gilligan, Contributing Writer Chicago–A mixed-use, 26-story high-rise building, Flair Tower, featuring 198 luxury apartments and 9,500 square feet of retail, celebrated its grand opening with a VIP reception and public open house on Thursday evening.

Press Release: Flair Tower Grand Opening

03-Jun-10 - Today, McCaffery Interests, Inc., (www.mccafferyinterests.com) a privately held commercial real estate company, celebrates the official Grand Opening of Flair Tower (www.flairtower.com), a mixed-use 26-story high-rise building featuring 198 luxury apartments and 9,500 square feet of retail located in Chicago’s artsy River North District. The occasion of the Grand Opening will be marked with a VIP Reception and Public Open House scheduled for this evening, June 3, 2010 from 6- 8 pm.

Flair Tower: Chicago Business Today - Appetite for Apartments

26-May-10 - Downtown landlords are smiling this spring. The occupancy rate for top-tier apartment buildings rose to 93.6% in the first quarter, up from 90.9 percent a year ago. This is according to Appraisal Research Counselors. A key gauge of demand is rising at its fastest pace in the past decade. The number of occupied downtown apartments rose by almost 2,200 units from a year ago. It’s surprising, with the high unemployment rate. Apartment demand is usually low when the jobless rate climbs, as would-be tenants try to save money with roommates or living with mom and dad. On top of a lousy job market, there also has been a wave of new construction. Developers have added more than 4,000 units to downtown since the beginning of 2008 and will add another 800 by the end of the year. Flair Tower opened in March. General Manager Lauren Dolan says there was some nervousness about the market before construction of the 200-unit River North building was completed. But traffic and leasing has met and even execeeded her expectations.