Previewing 3 Pitch Competition Finalists for the Brownfield & Opportunity Zone Bootcamp in Chicago
Projects across the country coming to present their redevelopment opportunities in a first-of-its-kind Opportunity Zone pitch competition in Chicago June 19.
In advance of the exciting and action-oriented Opportunity Zone (OZ) pitch competition at next week’s Brownfield & Opportunity Zone (BOZ) Bootcamp, pitch partners BrownfieldListings.com and Calumet Collaborative are privileged to reveal three finalists who will each put their project on the line in the country's first open pitch competition for redevelopment projects in OZs. The pitch competition at the BOZ Bootcamp will follow a full day of excellent educational program featuring a diversity of leading experts who will be examining the essentials of capital reinvestment into real estate redevelopment projects in OZs from myriad directions.
Three finalists have been selected to pitch at BOZ Bootcamp as part of a rolling selection process set to end later this week. They are:
Project name: Bayfront Place
Location: Erie, PA
Site size: 16 acres
Site owner: Convention Center Authority
The Bayfront Place development site is part of a larger 29 acre development on Erie’s picturesque Bayfront, which currently includes the Bayfront Convention Center, the Sheraton Erie Bayfront Motel, and the Courtyard Marriott Erie Bayfront Hotel. The Convention Center, the Sheraton, and the Marriott are owned and operated by the Erie County Convention Center Authority.
The Erie County Convention Center Authority has created a plan to realize these principles and promote a “highest and best use” development on the property compatible with and supportive of the Authority’s $160+ million investment on the site. The Erie County Convention Center Authority’s goal is to transform this piece of waterfront property into a vibrant, year-round destination for residents and visitors alike, serving as a catalyst to the city and the region to attract additional development and generate property taxes. The Authority will consider a master developer for the entire property or multiple developers interested in parcels on the site.
Project name: Ferry Street Project
Location: Easthampton, MA
Site size: 7.1 acres
Site owner: Private Entity
The Ferry Street Project is a historic textile mill complex located at 1 Ferry Street, Easthampton, Massachusetts. Originally developed in the 1800’s for use as a textile mill, it has since been abandoned and is sitting dormant. The site is currently home to six blighted brick masonry structures that total approximately 380,000 square feet. Situated on 7.1 acres in the Lower Mill Pond area in Easthampton, the structures command views of Mill Pond, the Mount Tom Mountain Range and a unique canal which runs between the buildings. Left unattended for some time, the buildings are in decline and in need of redevelopment.
The complex is located in an Opportunity Zone and the development pathway is for a mixed use complex redevelopment featuring several tenant amenities, pond frontage, bike path access, close to town centers and multiple top tier universities. This project is shovel ready and expects to break ground later this month (June 2019).
Project name: Burnham Lakefront (pictured above (in concept))
Location: Chicago, IL
Site size: 100 acres
Site owner: City of Chicago
This unique urban brownfield site sits on Chicago’s Lakefront within an international migratory bird corridor of the historically significant Bronzeville/Black Metropolis neighborhood and is adjacent to McCormick Place, the county’s largest convention center. Formerly the site of the Michael Reese Hospital in the Bronzeville neighborhood on Chicago’s Near South Side, the site has sat vacant since the hospital was demolished in 2009.
This large lakefront property was originally purchased by the City of Chicago to serve as the Olympic village as part of Chicago’s unsuccessful bid for the 2016 summer games. More recently, the site was pitched as a high-potential location for Amazon HQ2 of rare quality.
"We’re honored to partner with Brownfieldlistings.com on the pitch competition - Brownfieldlistings.com puts on amazing events that connect people that usually aren’t able to get into the same room, and the outcomes are tremendous, said Sarah Coulter, Executive Director of Calumet Collaborative. "It’s the shared value of in-person connections that motivated us to support this event and we can’t wait to see the benefits of those connections come to life beyond the pitch competition,” she added.
“There are opportunities everywhere,” said Dan French, co-founder and CEO of BrownfieldListings.com, “and the many outstanding submissions we’ve had for the inaugural pitch competition at the BOZ Bootcamp is only further proof.”
“The pitch is way oversubscribed,” French added. “It’s going to be a great show,” noting the variety of submissions and the great stories they have to tell. “The beautiful thing about brownfield redevelopment is it tends to bridge stories from our past into brighter visions for our future.”
The national OZ project pitch competition at the Brownfield & Opportunity Zone Bootcamp will be hosted by the University of Illinois at Chicago on June 19, 2019 and precede a reception announcing a winner and awarding prizes.
Additional finalists and alternates will be notified this Friday. There is no submission deadline, but only entries entered prior to midnight Wednesday, 6/12, have a realistic chance of being selected to pitch during the BOZ Bootcamp next Wednesday, June 19. Late submissions and all submissions not selected for the finals will nevertheless be aggregated and shared with attendees.
Tickets must be purchased in advance. Want to skip the program but don’t want to miss the pitch and reception? Contact us for pitch tickets.