FOUNDER’S CORNER

 
 
 
Brinshore Principal Rich Sciortino writes on linking the development of quality housing to jobs creation and economic vitality for communities.
 

It is not an accident that “housing starts” are a key indicator used by the media and policy makers alike to judge the economic health of the nation.  Housing construction – whether it be for high-end luxury homes or public housing, rental housing or for-sale homes – not only yields shelter but brings jobs and dollars to communities and their residents.
This understanding has infused Brinshore’s work from our very beginning and contributed greatly to our approach to every development. In each instance – whether engaged in a rehabilitation or new construction project – we look for opportunities to partner with and benefit the broadest array of companies and entities possible.

At times, that means working with a local development partner – one who has the local knowledge but not yet the capacity to undertake a large scale development or redevelopment project. In all cases, it means working to identify a diverse set of contractors and subcontractors who are skilled, reliable, eager to work – and just need the opportunity to demonstrate their capacity.

In 2011, Brinshore completed eight projects that created 475 units of affordable housing and produced over 550 temporary jobs and 25 permanent jobs. In 2012, Brinshore anticipates completion of five projects that will produce 403 units of affordable housing, resulting in over 500 temporary jobs and 20 permanent jobs.  In each of these developments, we were able to draw upon the talents of a broad array of firms and employees, a great number of which were minorities and women, and rooted in the communities in which we are working.

In Evanston, we have to date spent over 65% of the budget on MBE/WBE and Evanston based subcontractors.  In Indianapolis, the community targeted 25% spending on MBE/WBE with no targets for local spending.  We achieved a 77% spending on MBE/WBE and local firms.  Likewise, in Lafayette we exceeded City goals by 100%.  This commitment continues in all of our Chicago developments and in all communities in which we work.  We feel it is critical to support the economy in which we are entering or expanding.

It is our hope that the stories in this issue will give you a sense of how Brinshore takes our principles and brings them to life through our work.

Confirmed new development for 2013 include:

•   Emerson Square in Evanston, IL, overseen by Todd Lieberman
•   Ashland Place in Canton, IL, overseen by Linda Fulkerson
•   New Village Park in Kalamazoo, MI, overseen by Mike Roane
•   Dorchester Artist Housing in Chicago, overseen by Peter Levavi
•   3208 N. Sheffield Avenue (formerly the Diplomat Hotel), overseen by Todd Lieberman
•   City Gardens in Chicago, overseen by Rich Sciortino

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