| $245 Million Secured
For CTA Project
U.S. Representative Rahm Emanuel (D-IL) has announced
that $245.5 million was secured for construction and renovations to the Chicago
Transportation Authority's Brown Line from the Transportation Equity Act - A Legacy
for Users, a multibillion transportation bill.
"Like no other city
in the world, Chicago knows that with growth's benefits, comes growth's burdens,"
Emanuel said in announcing the funding.
The Brown Line serves a large the
Loop and the North Side of Chicago.
Funding was secured for other projects,
including:
Six Corners and Milwaukee Avenue Reconstruction: $13.6
million was secured for resurfacing, new sidewalks, lighting, landscaped elements
and other infrastructure upgrades at the congested Six Corners intersection.
Foster and Kedzie Streetscape: $1.6 million was secured to invest in a "streetscape"
for Foster Avenue from North Spaulding to the North Shore Channel. This will include
replacing sidewalks and gutters, improving lighting, and landscaping medians and
walkways.
Franklin Park Grand Avenue Underpass: $928,000 was secured
to finish construction of the Grand Avenue Underpass in northwest suburban Franklin
Park. By separating at-grade rail crossings from Grand Avenue, this project would
reduce congestion and improve safety for the more than 28,000 motorists who use
Grand Avenue every day.
Irving Park Bridge: $3.2 million was secured
to reconstruct the Irving Park Road Bridge over the Chicago River. Irving Park
Road is part of the National Highway System, and the road is a major artery for
the North Side of Chicago. Replacing this old bridge will reduce congestion and
increase safety for motorists and pedestrians.
Elston Avenue Bridge
Deck Overlay: $1.6 million was secured to resurface and rebuild Elston Avenue
from Milwaukee Avenue to Pulaski Road as it passes over Interstate 94.
West Ridge Nature Preserve: $2.8 million was secured for the creation of a new
nature preserve and park. This funding will help create bike paths, walking trails
and other recreational activities.
Fullerton Avenue Bridge: $3.84
million was secured for the replacement of the Fullerton Avenue Bridge over the
Lincoln Park Lagoon.
Life Sciences Has Steady Growth in Indianapolis Thirteen
life sciences projects are scheduled to be completed by 2010 in Indianapolis,
and these represent an investment of $1.1 billion and more than 1.9 million sq.
ft. of space, according to data from Indianapolis Downtown Inc., a nonprofit promoting
the city.
Nearly half all the construction projects are related to Eli
Lilly and Co.'s expansion plans, which is an investment of more than $880 million.
These projects include its Drug Discovery Lab, Biotechnology Research Lab and
Biotechnology Pilot Manufacturing Plan.
Six other projects are affiliated
with Indiana University, Indiana University-Purdue University Indianapolis, Clarian
Health Partners and Riley Hospital for Children.
Rounding out the projects
is the state's Forensic and Health Sciences Labs.
These projects reinforce
the efforts of BioCrossroads, Indiana's life sciences initiative, and reflect
the 'bricks-and-mortar' growth of the state's life sciences sector.
"Since
1995, downtown Indianapolis has seen the completion of 32 life sciences-related
projects with a total investment of over $830 million and total more than 1 million
sq. ft.," added Indianapolis Downtown Inc. president Tamara Zahn.
Real Estate Center Lands $2M Gift The Real Estate Center at DePaul University
in Chicago has received a $2 million gift from Douglas Crocker II, retired president
and chief executive officer of Chicago-based Equity Residential Properties Trust,
and his wife, Cynthia.
The gift will fund the directorship of the center,
which manages DePaul's real estate education, research and professional development
programs.
With the gift, DePaul Finance Professor Susanne Cannon, who founded
the center in 2002, becomes the Douglas and Cynthia Crocker Endowed Director of
the Real Estate Center at DePaul.
The gift funds the directorship in perpetuity.
Since it was founded three years ago, the center has attracted more than $1.6
million in operational funding from 40 sponsoring real estate executives and institutions,
in addition to the Crockers' $2 million gift.
Cannon has been the director
of the Real Estate Center since its inception and has taught real estate analysis
and investment at DePaul for 15 years.
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