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2016-07-22T00:00:00.000Z

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Wrong Peter Cassel?

Peter Cassel

Director of Community Development

MAC Property Management Inc

Direct Phone: (773) ***-****       

Email: p***@***.com

MAC Property Management Inc

1364 E 53rd Street

Chicago, Illinois 60615

United States

Company Description

About MAC Property Management: MAC Property Management (http://www.macapartments.com/) oversees 85 properties in the Hyde Park neighborhood of Chicago, Ill., located near the University of Chicago and Lake Michigan. It offers a variety of Hyde Park apartm... more

Find other employees at this company (249)

Background Information

Employment History

Director of Community Development

Silliman Group , LLC

Executive Director

Hyde Park-Kenwood Community Conference

Business Development Manager

MRC Polymers Inc

Affiliations

Director of Community Development
Antheus Capital , LLC

Education



Carleton College

MBA

The University of Chicago

MBA

University of Chicago GSB

Masters
Urban Planning and Policy
University of Illinois , Chicago

Masters
Urban Planning and Policy
University of Illinois at Chicago

Web References (193 Total References)


Primarily through its representative, ...

www.kansascity.com [cached]

Primarily through its representative, Peter Cassel, MAC developed good working relationships in Kansas City.

The company grew into a reclamation powerhouse in 2010. That's when its group, under the label Commonwealth Apartments, tackled acquisition, remodeling and rental of 10 more midtown apartment buildings, mostly on Armour.
"We worked very closely with neighborhood associations and with the local City Council folks to design and develop local projects," Cassel said recently. "Plus, we'd already done successful preservation projects. We had a track record."
Cassel took the time and pulled the necessary ropes to get redevelopment deals through the Planned Industrial Expansion Authority, the Industrial Development Authority and the City Council. And he became adept at the workings of the midtown fund.


Antheus Capital and MAC Properties impact: neighbors' discussion

www.hydepark.org [cached]

Update reported at the May 13 2013 TIF meeting: Peter Cassel of Antheus gave an update.

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"We were aware that we could not find the elements we needed to run a health club," said Peter Cassel, director of community development for Antheus. When the new owners went downtown to locate and transfer the license, the city could find no history of a license, according to Cassel.
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Because these issues could not be brought into compliance within 30 days, the management withdrew its application, according to Cassel.
"We would very much like to continue this activity and understand the hardship of the people who have used this over decades," Cassel said. The Regents Club will be brought up to city standards during a larger renovation of the building's first floor, according to Cassel. He said the fitness center would reapply for the license when construction is complete in the spring of 2013.
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"We'd expected to be able to borrow a greater expense of the total costs, but the reality of construction lending these days is that we will not be able to do that," Peter Cassel, director of of Antheus' development arm, told attendees.
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The redevelopment of the Village shopping center at the southwest corner of South Lake Park Avenue and East Hyde Park Boulevard remain in early planning stages . Peter Cassel, director of community development for Antheus, said they are not ready to apply for building permits and several tenants have leases they intend to honor. He said the earliest any work could begin on the site is fall 2012 . The plan calls for a residential high-rise and several stories of retail on the property.
Solstice on the Park , a residential high-rise designed by the esteemed Studio Gang Architects, remains stalled. The planned 26-story building at East 56th Street and South Cornell Avenue suffered with many other residential projects during the economic downturn. No work will begin during the summer construction period, according to Cassel.
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There are no immediate plans for three gray-stone buildings across South Harper Avenue from the Village site, according to Cassel.
Cassel said rental demand remains strong in Hyde Park and the firm is currently searching for commercial tenants for many of its properties, including the Del Prado and East Park Tower at 5242 S. Hyde Park Blvd.
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"We are not raising every MAC unit this year," said Peter Cassel, the MAC director of community development. He noted, however, that "over the course of the next few years, the rent of all units will be increased," except for select units where the rent is tied to residents' incomes based on agreements made with local affordable-housing groups and local government.
These changes stem from a combination of factors, Cassel said, including higher demand for property, improvements made to Hyde Park buildings, and unusually low rent.
"We saw many of the owners of the apartments [previously controlled by K&G] paying more than 25 percent under market price. In those cases when there was a significant difference between the market price and what they were paying, we did not raise anyone's rent more than 15 percent."
"For K&G units, their year started in April, or their year started in August," Cassel said.
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While recognizing that maintenance service has been subpar in the past, Cassel said that, "[Now] almost all our work orders are satisfied within a day.
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"We recognize that rent increases are difficult for everyone," Cassel said. "It's much the same as we see gas prices gone up, food prices going up. We see local taxes going up. All of those things impact us. we would like to be in a world where there weren't rising costs, but that is not the case," he said.
In the downtown Chicago apartment market, average rental costs have risen more than 10 percent in the last year, following a 13-percent increase in 2006 and prompting Crain's Chicago Business to label this "a good time to be a landlord. With no new units built in Hyde Park in the last decade except for the University's graduate-student housing, demand for units near campus has remained steadily forceful.
Cassel encouraged resident to attend the upcoming public forum at the Hyde Park Neighborhood Club, at which MAC president Eli Ungar will respond to questions and concerns.
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Robin Peterson. [Peter Cassel's name has been changed to correct spelling.]
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About seventy people showed up at the Hyde Park Neighborhood Club to take part in this conversation, which began with a brief Power Point by MAC Director of Community Development Peter Cassel. In it, he outlined the company's recent success in revamping "uninhabitable" buildings, told its "exciting economic development story" of hiring 130 full-time Chicago employees, and explained recent rent hikes by linking them to the broader picture of condo conversions and the mortgage crisis. Cassel also described Solstice on the Park, a soon-to-be-built condo at 56th and cornell with modern architecture and a number of "environmentally progressive" features.
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Wednesday, Peter Cassel, director of community development for MAC, clarified that no final decision had been made about senior housing, but the Del Prado at the corner of South Hyde Park Boulevard and South Hyde Park Boulevard and 53rd Street was one of several properties that has desirable features.
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Cassel said Wednesday they were still looking for a pilot building among the 43 eligible.
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The orders have been whittled down to 500, and 40 to 50 are processed a day, Cassel said.
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November 5, 2015, Peter Cassel of MAC gives latest plan, says project going forward. Report to HPKCC board:
Peter Cassel of MAC Properties et al, adt teh November 5 HPKCC board meeting, discussed and answered questions on the proposed Solstice on the Park development on the northwest corner of 56th and Cornell Ave. Basics: The project is in request for amendment to planned development and will be a slightly smaller and shorter (25 stories) version of the original design.
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Peter Cassel presented the rebirth of the project and answered questions at the February 5 2015 Hyde Park-Kenwood Community Conference board meeting, one of several to be held including a full open meeting February 10 at Piccolo Mondo.
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Congestion is already high at times including on Cornell, 56th, 56th-Stony-Lake Park convergence, and there are adjacent playgrounds and school; Bret Harte still closes off 56th St. part of the day. (Cassel said a traffic study is now underway, including understanding how the school drop-off works.)
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Peter Cassel, Antheus representative, said one of the goals Antheus had when designing the Solstice building was to help solve the pick up adn drop off dilemma at Bret Harte. Currently the parents have to pull over on 56th Street and dodge in and out of two-way traffic to get their children to the front door of the school. Based on a rendering..., Antheus plans to repurposes the alley just north of the school that will lead cars to a new one-way drive path specifically created for pick up and drop off. a new playground wil also be built to replace the present play area, which is in a dilapidated state.
Antheus also plans to offer Bret Harte usage of space on the Solstice property. "Eli Ungar, the principal at Antheus, heard that a parent was unable to get upstairs to meet with a teacher for a conference so they had to meet in the alley, which is unacceptable," said Cassel.
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Cassel said the school will also receive a new parking lot with 32 spaces on the school grounds and seven covered parking spaces, which is on the Solstice property.
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Peter Cassel, spokesman for Antheus, said the company is still in the process of configuring the new plan.
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"Although we do not have enough units sold to begin work on the Solstice building, we are interested in making improvements to the school and the school's parking lot without regard for condo marketing and making preparation to the site the Solstice will be built on," Cassel said.
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City Hyde Park- After a brief presentation by Peter Cassel (earliest start is fall of 2013 with 2 , the Council voted to give a letter of recommendation and support to the Alderman to committing up to $11 million in funds over remaining years of the new 51st St. TIF to in part fill the funding gap for City Hyde Park.
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Peter Cassel, lead spokesman for the team, said that financing and other considerations require the project be done in one phase, with the tall building moved near the Lake Park-E.
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The development will still have 120,000 sf retail (a bit more spread out) and on two floors and 350 parking spaces. (There was some concern that the downsizing of apartments leaves this project not contributing rental spaces for large families, who mainly have to buy rather than rent in HPK- Cassel felt this project would make no difference in that).
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Cassel explained that for 182 units, 12,000 sf retail and 350 parking spaces (underground), the original financing was $145M cost, $100M being hardcost and was to be in tw


Hyde Park business climate assessments

www.hydepark.org [cached]

"We've just been through a financial tsunami," said Peter Cassel, a representative for property owner Antheus Capital, which rents a number of the ward's retail spaces. "Hyde Park continues to grow coming out of it," he said. He underlined the importance of holding on to the small businesses that have weathered the storm.

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Peter Cassel
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Peter Cassel of MAC cited such turnover as evidence of a strong retail market-- two businesses in that block are new (PHLI and Tanner Hair Salon) and five have renewed their leases.
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The owners the store, similar to their other stores or to Pete's, say they will hire 60 to 80 mostly from the neighborhood.
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According to MAC representative Peter Cassel, the objective of the proposal was to boost revenues for the restaurants. "There's almost nothing else on the menu you can sell with those kind of margins," Cassel said.
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Cassel echoed Hairston's sentiments. "It's not so much about consumer experience as their ability to make money on that," he said.


53rd Street Visioning and News

www.hydepark.org [cached]

Peter Cassel, director of community development for Antheus, said the previous owner, L3 development and its investors, have turned over all community studies done when the site was slated for a high-rise residential building.

"I think it's most appropriately residential," Cassel said of Antheus' intentions for the site, adding that retail would likely be included to tie any development to surrounding retailers on either side of the Metra viaduct. The site will not be left as a vacant lot, he assured. "East Hyde Park could use more parking and that lot could work very well for parking if there's an extended holding period before development starts," he said. Cassel said Antheus has begun discussing ideas with neighbors, but rental housing was an appealing option."I don't hesitate to say the for-sale market remains very, very difficult," he said.
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Kenwood Court, now zoned B1-2, a neighborhood shopping district, would be rezoned to B3-2, a community shopping district, according to Peter Cassel, director of community development for MAC Property Management, another Antheus affiliate. Silliman is seeking the higher zoning designation to move forward on a plan to lease space in the building to a full-service restaurant with a separate bar area and catering facilities, Cassel said.
Several in the crowd of roughly 30 that attended the meeting asked whether the up-zoning might open the door to other kinds of businesses the neighborhood might find objectionable. Cassel noted that liquor stores, tattoo parlors, cremation facilities and a range of other businesses must undergo community review before approval under the B3-02 zoning classification.
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"The ones we spoke to were all for it," Cassel said.
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According to the Herald of November 24 (Alicia Barney), Peter Cassel said the transaction should be complete by the end of the year.
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Cassel is quoted, "We think it's a very important corner for the neighborhood. We're very excited about what's happening to the west of the Metra tracks in the Harper Court redevelopment. We're deeply invested in East Hyde Park, an we believe that this parcel can help be a link between East Hyde Park and Harper Court redevelopment. Cassel told the Herald plans are very different from L-3's high rise plan and they are hiring architects and planners.


Downtown Hyde Park: SSA- 53rd Hyde Park Chicago Specia Service Area tax district and Commission

www.hydepark.org [cached]

Peter Cassel (MAC/Silliman)

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Cassel of MAC- $60,000 cost fo his properties.

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