Farpoint Development and Golub and Company to Unveil New Resident Amenity Center at Bronzeville’s Prairie Shores

2022年08月12日02:03

After 60 years, the new building will add a modern, multifunctional recreation space for the Prairie Shores community

Chicago, Aug. 11, 2022 (GLOBE NEWSWIRE) -- August 11, 2022 - Prairie Shores Owners will today unveil a new, standalone amenity center for residents of the iconic Bronzeville community apartments on South Martin Luther King Drive. The 17,510-square-foot, two-story structure features various amenities that will provide an array of entertainment, recreation, fitness and workspace options for residents. The building, officially branded as “The Hub,” will serve as a central gathering place connecting the hundreds of residents who call Prairie Shores home. Located at 2937 S. Martin Luther King Dr. The Hub is the newest addition to the Prairie Shores community since it opened 60 years ago.

The Hub, designed by global architectural firm Gensler, with interiors by Stanton Interior Concepts, will offer residents a variety of modern features that include:

  • A wellness-focused roof deck, serving as a key destination for socialization, with three grill stations for cooking, bar and lounge seating, two fire pits, outdoor media walls, and an elevated turf platform.
  • A two-story state-of-the-art fitness center, with the first floor dedicated to weight and strength training as well as Crossfit, and the second floor offering cardio and yoga studios plus a private wellness room.
  • Grab-n’-go café area and standalone vending with healthy options for residents.
  • “Great” room with communal lounge seating, a relaxing fireplace, and televisions.
  • Game room and kitchen area, complete with a pool table, televisions, kitchen bar, and high-top seating.
  • A co-working lounge that will feature a variety of seating for groups or individual-focused work, a conference room, and private work/computer rooms.

In addition to these, The Hub will house the new Prairie Shores leasing and management offices.

The addition of this space to the Prairie Shores campus will complement the resurgence of equitable development in the Bronzeville community and help anchor the already thriving community.

“Prairie Shores residents recall the days when their community had much to offer in the way of recreation and entertainment,” said Steve Sise, Senior Vice President of Portfolio Management at Golub & Company. “Today, we are thrilled to dedicate this building and space to the residents to strengthen their ties to each other and the Bronzeville community.”

Prairies Shores, the five-tower apartment community with 1,675 units, was purchased in 2019 by Chicago-based firms Golub & Company and Farpoint Development, along with New York-based Urban Investment Group within Goldman Sachs Asset Management. The construction of the new amenity center was a community-driven modernization effort led by the owners to upgrade the property and connect residents who live in the five towers.

Construction on the development began last summer and was successfully led by Leopardo Construction. To view photos of the new amenity center, click here.

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About Farpoint Development

Farpoint is a Chicago-based real estate development company with extensive experience in managing large scale development and redevelopment projects. With more than 30 years of experience, Farpoint’s principals have created some of Chicago’s most iconic and innovative commercial office and mixed-use projects, totaling more than five million square feet valued in excess of $1 billion. From ground-up development to adaptive reuse and historic rehabilitation, Farpoint strives to use its diverse experience in all facets of the development process to unlock hidden potential in every opportunity. For more information, visit Farpoint Development at www.farpointdev.com.

About Golub & Company

Since 1960, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It’s a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.

About the Goldman Sachs Asset Management Urban Investment Group (UIG)

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2001, the Urban Investment Group within Goldman Sachs Asset Management has committed over $10 billion through real estate projects, social enterprises and lending facilities for small businesses and students, creating economic value and opportunities for underserved communities and families. Follow us on LinkedIn.

CONTACT: Julie Garner

Golub and Company

jgarner@goco.com

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