H. Lee Murphy

H. Lee Murphy is a Chicago-based journalist who has written regularly for the Chicago Tribune, Crain’s Chicago Business, and other publications across the country.

Out of the wreckage of the COVID-19 pandemic, Qualified Opportunity Zone (OZ) funds accelerated last year, with nearly $7 billion in new capital raised during the second half of 2021. Much of that money appears to be directed into new multifamily housing projects erected in high-growth markets
ULI MEMBER–ONLY CONTENT:When the old Michael Reese Hospital, dating to the 1880s, closed in 2009, the city rounded up the money to buy the 50-acre (20 ha) site, added more land around it, and then submitted a bid to host the 2016 Summer Olympics with a new stadium replacing the hospital as the centerpiece. Chicago eventually lost that bid but has not given up on the site since.
ULI MEMBER–ONLY CONTENT:In the past year, while investors have been eager to pour capital into the burgeoning build-to-rent (BRT) single-family residence market, in many cases they are finding plenty of roadblocks to profit, said panelists at the 2021 ULI Fall Meeting. Development sites are harder to find, the price of new construction has soared, and builders are finding they can make more money selling homes to buyers.
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Builders and developers are being pushed to put up structures that are environmentally responsible. But can you do that and still make money? And how about the building owner who is seeking to invest in remodeling and upgrading? With the right kind of financing, the answer has recently come to be ”yes,” said speakers at the 2021 ULI Fall Meeting.
ULI MEMBER–ONLY CONTENT: Speaking at the 2021 ULI Fall Meeting, panelists discussed recent transactions in the office sector and which segments had performed the best.
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Chicago announces its second winner in the prestigious net-zero competition, as developers, owners, and property managers work to meet the city’s emission goals.
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