CHICAGO—The Habitat Co., a Chicago-based property manager and developer, has just promoted Matt Fiascone to president of the organization. For the past three years, Fiascone has been Habitat's senior vice president of finance and investment. The company has become one of the most prominent multifamily developers in the city, but most of its work has been in the urban core, and Fiascone now tells GlobeSt.com that in 2015 this could begin to change.

“The strategy is to leverage our reputation and strong team and enter new markets and perhaps even launch new product types,” he says. The changes will be evolutionary rather than drastic. Habitat built its reputation by building multifamily high-rises in the city's core, and Fiascone says that work will remain its “heart-and-soul.” But it could also start building mid-rises, perhaps out in other neighborhoods well-served by transit, inner-ring suburbs and other markets in the Midwest.

Although the company is not actively looking there, Fiascone says that a neighborhood like Logan Square is a good example of a transit-oriented neighborhood that Habitat finds appealing. And Evanston and Oak Park could fit the bill when they look for projects in inner-ring suburbs.