REAL ESTATE

Trader Joe’s to enter Nebraska

BY CSA STAFF

Monrovia, Calif. Trader Joe’s has signed a lease to open the first Nebraska location.

The store, in Omaha, is scheduled to open in 2010 and is approximately 13,000 sq. ft. in size.

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REAL ESTATE

Dunkin’ Donuts to open in Moscow

BY CSA STAFF

New York City Dunkin’ Donuts has returned to Russia, after an 11-year absence, with plans to open up to 20 outlets in Moscow this year, the company said Wednesday.

The company closed its two Russian shops in 1999 due to poor sales.

The owner of the franchisee for Russia and Ukraine said that the number of outlets could rise to 50 within five years, the Associated Press reported.

Thousands of coffee shops have opened in Russia in the past decade, almost all of them domestic brands. Starbucks opened its first store in Russia in 2007 and now runs 26 coffee shops in and around Moscow.

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Chicago Lakeside Development receives zoning approvals

BY CSA STAFF

Chicago McCaffery Interests announced that its affiliated development company, Chicago Lakeside Development, a public-private partnership between U.S. Steel Corp. and McCaffery Interests, has received the approval of the Chicago Plan Commission for the Chicago Lakeside Development Master Plan.

Approval was also granted for the enactment of a Planned Development Ordinance providing Phase 1 of the site with the required land-use entitlements required to move forward with the project.

Daniel McCaffery, president and founder, McCaffery Interests, said, “The approvals by the Planning Commission are the result of more than four years of collaboration and negotiations with the City of Chicago. It hasn’t been easy but the positive economic and social effects of these actions will last for a very, very long time. The development of these 369-acres will signal a new and positive future for southeast Chicago.”

Located just 10 miles south of downtown Chicago on a 369-acre parcel of land, the Chicago Lakeside Development Master Plan creates a community based on innovative sustainable principles to the former U.S. Steel South Works plant site, which is adjacent to Chicago’s South Shore neighborhood.

The long-term vision includes an estimated $450 million in new public infrastructure, 125 acres of public land, miles of lakefront access, new bike paths, and expansive commuter rail and bus service — all surrounded by 13,575 new homes, 17,500,000 sq. ft. of retail and other commercial space, a new high school, and a 1,500 slip marina. 

Planned to be constructed in a minimum of six phases, the Chicago Lakeside Development Master Plan will take an estimated 25 to 45 years to complete and will cost more than $4 billion in both public and private funds.

Phase 1 will include a mixed-use shopping and residential district. Commencement of construction is projected for 2012.

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