Commercial Investment Real Estate September/October 2018 | Page 8

TRENDS
Thinking Inside the Box
Chicago developer Related Midwest has put a new twist on pop-up retailing. In June, the developer
opened Box Shops by Related, a six-store retail market made of refurbished shipping containers
of 160 square feet each. The container market, in Chicago’s West Loop, is on the site where the
company plans to develop a 58-story mixed-use tower; the concept is scheduled to be open
through the end of the year. The containers have lighting; heat and air-conditioning; skylights;
and wireless internet. Occupants include small local retailers, a bar/beer garden for a neighboring
pub, and a small fitness center.
MARKET
Source: Related Midwest
More than 30 organizations from around the world launched the International Fire Safety Standards Coali-
tion in Geneva, Switzerland, in July. The group plans to develop a shared set of standards for fire safety
in buildings. “All over the world, we see the need for more high-rise structures — some residential, some
commercial, and some mixed-use buildings — particularly in cities. Our concern is not with the height of
these buildings, but with the risks they pose in the absence of a coherent and harmonized approach to set-
ting global standards in fire safety,” says Gary Strong, chair of the coalition. “The IFSS Coalition aims ... to
bring together the design, construction, and management aspects of ensuring fire safety of building assets.”
Crafting Cross-Border Fire Safety Standards
Multifamily Goes Green
Apartment residents, particularly younger ones, are interested in sustainable and
green features for their homes, and are willing to pay a little more for them. In a
survey of 2,800 apartment dwellers — 59 percent under age 34 — 64 percent
said they’d pay slightly more to live in a green community.
Most Valued Apartment Features
O 2
Smoke-free community . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94%
Access to public transit, along with strong walk/bike scores . . . 85%
Source: AMLI Sustainable Living Index
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COMMERCIAL INVESTMENT REAL ESTATE
Energy- and water-efficient features . . . . . . . . . . . . . . . . . . . . . . . 93%