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Capri JV Reveals $500M Mixed-Use Project

CHICAGO-A joint venture between Capri Capital Partners and Judson Investment Co. reveals plans for a one-million-sf development.

By Gina Kenny | Updated on February 17, 2007

(To read more on the multifamily market, click here.)

CHICAGO-A joint venture between Capri Capital Partners and Judson Investment Co., both minority-owned companies based in Chicago, announced Thursday a one-million-sf project called the Metropolis for the South Side of Chicago. The mixed-use project will be completed in three phases at the intersection of South State Street and Pershing Road. The project is currently estimated at $500 million, says Quintin Primo, chairman and chief executive officer of Capri.

The first phase of the development will be two six-story, curvilinear buildings, with two stories of retail extending from each, totaling 500,000 sf. The buildings will have approximately 330,000 sf of retail on the first two floors with 102 condominium units on the remaining four floors. Construction is estimated to begin in the fall and should take between 15 and 18 months to complete.

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