McLinden won't reveal just yet what specific projects he and his team will tackle in their first year. But they will likely be familiar to anyone that has followed Centrum's recent work. “We are one of the leaders, if not the leader, in transit-oriented development. That format, that particular type of development, is one where we will continue to seek opportunities.”

And whatever challenges this new era does present, he remains optimistic that Chicago still has a lot of demand for TODs. Suburban firms continue to migrate downtown, and many of their employees prefer living nearby with easy access to trains and other transportation. “We've been blessed with a dynamic economy and a growing employer base.”

Although Hubbard Street could expand into other areas, he says it will likely build in many of the same neighborhoods where Centrum has established a presence. Current projects underway include Centrum Wicker Park, Centrum Bucktown, Centrum Old Irving, Centrum Evanston, Centrum Lakeview, and Hubbard221 and 412 N. Wells in River North. “That's where we have been successful, and that's where we will continue to work.”

CHICAGO—Veteran developer John McLinden has just formed Hubbard Street Group, a new real estate venture that will focus on building Chicago-area properties similar to ones that he started with Centrum Partners, the company he launched decades ago with Arthur Slaven. The duo plan to finish the projects Centrum currently has underway.

“Arthur and I have been together for a very long time, but every once in a while, change is good,” McLinden tells GlobeSt.com. “I'm proud to call him my partner and more importantly, my friend for the past 27 years. As we always have done, we will continue to work together to see our existing projects through and, moving forward, support each other's individual efforts.”

Graham Palmer and Kage Brown both of Centrum, will move over to McLinden's new firm, which will remain for now at 225 W. Hubbard. Caroline McBride, former business development manager at Jenner & Block, will handle marketing and investor relations.

“It's good to have a talented team ready,” McLinden adds. That's especially true today, when developers could face a set of new challenges, ranging from probable increases in the federal interest rate, a new president, increasing construction costs, and a possible softening of the markets for multifamily properties and hotels. “Some people are probably going to find it more difficult to get certain deals financed; more than they would have a year ago.” Still, “there are always opportunities in transitional periods.”

McLinden won't reveal just yet what specific projects he and his team will tackle in their first year. But they will likely be familiar to anyone that has followed Centrum's recent work. “We are one of the leaders, if not the leader, in transit-oriented development. That format, that particular type of development, is one where we will continue to seek opportunities.”

And whatever challenges this new era does present, he remains optimistic that Chicago still has a lot of demand for TODs. Suburban firms continue to migrate downtown, and many of their employees prefer living nearby with easy access to trains and other transportation. “We've been blessed with a dynamic economy and a growing employer base.”

Although Hubbard Street could expand into other areas, he says it will likely build in many of the same neighborhoods where Centrum has established a presence. Current projects underway include Centrum Wicker Park, Centrum Bucktown, Centrum Old Irving, Centrum Evanston, Centrum Lakeview, and Hubbard221 and 412 N. Wells in River North. “That's where we have been successful, and that's where we will continue to work.”