City to recommend CBRE for lakefront

Published 10:06 am Saturday, August 16, 2014

In mid-July, city officials tasked with interviewing the firms that responded to an April request for qualifications began their process, speaking with representatives from Ehmpire LLC and CBRE Inc.

“We interviewed the respondents on July 17,” said City Administrator John Cardone, a member of the interview committee.

“Members of the committee then met on July 30 to discuss and recommend a path forward.”

Email newsletter signup

The path forward included a recommendation for the City Council to consider at its Aug. 20 regular meeting. Cardone said the committee decided to recommend CBRE Inc. to provide the upcoming services needed in the lakefront development process.

“We felt both of the firms were very qualified and at Wednesday’s meeting, the council will act on the recommendation made by the committee,” he said.

If approved by the council, some of the tasks CBRE will have to perform include sight due diligence and a market analysis.

CBRE is based in Los Angeles, and the firm’s history can be traced back to the recovery efforts after San Francisco’s 1906 earthquake. The company provided real estate services for businesses in the wake of the disaster.

In its submission to the city, CBRE included a letter highlighting its strengths.

“CBRE has a strong track record assisting municipal clients around the country on complex development projects, including lakefront property,” it read. “We bring a team of experts, including in office, retail, hotel, multifamily housing, and public institutions, that will help guide the City through its redevelopment process.”

One of the projects CBRE touted was its work with the city of Indianapolis, where it acted as an adviser on the redevelopment of a 1.5-acre city-owned site downtown.

The company helped spur economic development in the area while also helping relocate a fire station, fire department headquarters and a firefighters credit union that were situated on the site CBRE was asked to redevelop.(American Press Archives)

Karen Wink