CHICAGO—The Georgetown Co. has quickly assembled a significant portfolio of residential and retail properties in Chicago, and the New York-based firm also has plans to launch several major new developments here. The scale of these operations has just led it to open a new office in the city and tap Jonathan Dennis to lead it. He will manage Georgetown's current Chicago property holdings and identify new opportunities for acquisitions and development in the region.

Dennis joins Georgetown from The University of Chicago, where he led a series of projects which helped transform and revitalize Hyde Park's 53rd St. district. In addition to overseeing the design and construction of these developments, Dennis also contributed to the leasing effort for the university's retail portfolio.

“We have been fortunate enough to have activity in a few other cities,” Georgetown chief executive officer Adam Flatto tells GlobeSt.com, “and we found it's important to have an owner on the ground.” The company is currently developing properties in New York City, Los Angeles, Chicago, Columbus, Boston, Atlanta and Washington DC.

As reported in GlobeSt.com, Georgetown recently purchased the 500-unit K2 Apartment tower in the Fulton River District, the 61,000 square foot Lincoln Park Centre retail property in the Lincoln Park/Old Town neighborhood and 35 N. State St. – currently Gap's flagship Chicago location – across the street from the historic former Marshall Field's Building.

“What we're seeing around the country is a continuing demand to repopulate the urban core,” Flatto adds, and that phenomenon is particularly notable in Chicago, making it natural for a national firm like Georgetown to have a presence here. “It's a great long-term investment strategy.”

The company may redevelop the Gap property on State St. when the retailer's lease expires in 2017. Flatto says no final decisions about have been made, and although the location is an extremely strong one for a retailer, Georgetown is looking into possible residential or hospitality options.

Georgetown's overall goal for the region is to develop best-in-class properties in what it considers emerging neighborhoods, and Flatto says the Fulton River area is a good example of where it plans to be. “I don't think we will be going into fringe areas of the city. I think there are a lot of infill opportunities that make a lot of sense.”