It’s been said that Crain’s Chicago Business is “where the who’s who view what’s what.” So it’s with great pleasure that I’m once again quoted in a Crain’s article.
…in order to overcome the market-rate anxiety of participating in the social experiment,” says Garry Benson, president of Chicago-based residential marketing firm Garrison Partners, which has worked on two other mixed-income projects near Cabrini-Green. “If you start off having to offer below-market value, when the market drops, you can’t drop your prices below your costs.
Last time I was in Crain’s, readers posted some rather spirited comments in reply. Here’s an example:
Garry Benson, are you insane?
I love questions like that. Which is why I responded with a blog post on December 7th. You can scroll down one entry, it’s my mini-manifesto on why things might, MIGHT, be turning around.
To read full Crain’s article on Cabrini Green bailout (if you’re in Chicago real estate, you probably should) click here.
Garry
Posted by Garrison