CoJ – Evergreen Terrace Complex Redevelopment – Illinois - Project Profile

CoJ – Evergreen Terrace Complex Redevelopment – Illinois - Project Profile

Synopsis

"CoJ – Evergreen Terrace Complex Redevelopment – Illinois - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

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Summary

City of Joliet (CoJ) is planning to redevelop an apartment complex in Joliet, Illinois, the US.

The project involves the redevelopment of additional four stories to three Evergreen Terrace apartment buildings. It includes the construction of housing units, a community center, parking and related facilities.

Landon Bone Baker Architects has been appointed as architect for the project.

On September 18, 2014, the United States District Court for the Northern District of Illinois (USDCNDI) approved CoJ’s intent to acquire the complex.

In January 2015, the owners of Evergreen Terrace and CoJ submitted separate appraisals determining the market price of the complex to be US$23.5 million and US$13.76 million.

Subsequently, on March 17, 2015, USDCNDI set the price for the complex at US$15.08 million.

CoJ has been conducting special council meetings on the proposed development plans.

In May 2016, Holsten Real Estate Development Corp. entered into a partnership with CoJ to oversee the management and eventual redevelopment of the project.

CoJ is in the process of acquiring the Evergreen Terrace Complex.

Scope

The project involves the redevelopment of additional four stories to three Evergreen Terrace apartment buildings in Joliet, the US.

The US$70 million project includes the following:

1. Construction of housing units

2. Construction of a community center

3. Construction of parking facilities

4. Construction of related facilities

Reasons To Buy

• Gain insight into the project.
• Monitor the latest project developments.
• Identify key project contacts.