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Not So Bad, 2016 Real Estate Forecast Steady

The outlook might not be as bullish as it was a few months ago, but according to the ULI Real Estate Consensus Forecast 2016 won’t be too bad for commercial real estate.

The forecast boldly predicts a fairly healthy pace of economic expansion. Gross domestic product (GDP) growth for this year is expected to be on par with the 2.4 percent that was recorded in 2014, while strengthening to 2.8 percent in 2016 and 2.7 percent in 2017. Interestingly, 2016 and 2017 predictions are at the highest levels in eight years, comparable with the 2.7 percent GDP growth that occurred in 2006.

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Deadline Nears for Chicago Neighborhood Development Awards

Time is running out! Online applications for 22nd Annual Chicago Neighborhood Development Awards are due by September 10th.

From their website:

Established in 1995, the Chicago Neighborhood Development Awards (CNDA) recognize the essential role that both non-profit and for-profit developers play in building communities in Chicago-area neighborhoods. The Awards recognize outstanding achievement in neighborhood real estate development and community building, especially the achievements of community development corporations (CDCs), other community-based organizations and for-profit developers working to build healthier neighborhoods in the Chicago metropolitan area.

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Here In Chicago: Finishing Touches On World’s Largest Rooftop Greenhouse

Finishing touches have begun on what will be the biggest urban rooftop greenhouse in the world. Chicago’s Method soap company will be home to a 75,000-square-foot space — built by urban greenhouse company Gotham Greens.

From Constructiondive.com

The high-tech greenhouse, whose temperature and irrigation will be computer-controlled, demonstrates Method’s commitment to what Chief Greenskeeper Saskia Van Gendt called “the highest standards of green building.”

To support the weighty greenhouse, the company reinforced the roof, which, once planted, will help insulate the factory — designed by William McDonough + Partners and Heitman Architects — and keep heating and cooling costs lower.

Once the greenhouse is fully planted, Gotham Greens will distribute the greens it produces to local stores and restaurants.

“We need to use our urban spaces more efficiently,” Van Gendt told Business Insider. “Rooftop greenhouses are a representation of a model of doing that.”

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Movement To Save Seattle’s “Up” House

Kickstarter campaign has been started to save a Seattle building that has drawn comparisons to the home featured in the movie, “Up”. Over $200,000 is needed by September 15th to move the home via a barge to Orcas Island.

From Yahoo News:

The house, located in Seattle’s Ballard neighborhood, became famous when its elderly owner, Edith Macefield, famously refused an offer of $1 million from real estate developers. Macefield stayed in the home until her death in 2008 at age 86 and developers built around her home.
When the commercial development’s concrete walls sprung up around Macefield’s house, an old farmhouse, the home drew comparisons to the home of balloon salesman Carl Fredricksen in the 2009 animated Disney movie “Up,” earning it the nickname, the “Up house.”

The creepy talking dog featured in the movie was unavailable for comment.