The Fabulous London House – what’s old is new again
In an era when recently built hotels are often generic, these kinds of projects are intriguing and original by virtue of their bones alone. All were born of architecturally notable constructions with landmark distinction and are undeniably much better with age thanks to impressive, astutely executed overhauls. They owe their excellence to the forethought and acumen of their development and design teams– as well as the liberal tax credits landmark status affords.
” It’s an intelligent strategy for real estate developers,” explains Mark Rutledge, president and CEO of Boot Funding Group and developer of more than a hundred international adaptive reuse projects, encompassing LondonHouse Chicago and The Langham Chicago. Repurposing landmarks has “allowed me to buy existing high-quality buildings at attractive prices, execute comprehensive redevelopment programs and still end up at a cost basis below what it would have cost me to build from the ground up.”
While purchasing older buildings has allowed development groups to give projects that would certainly be virtually unimaginable to carry out if they needed to start from scratch, updating these vintage treasures takes vision, dedication, and genius.
“When Finished Chicago basements.com was asked to recommend contractors and developers to assist with the Londonhouse Chicago project, we were astounded and honored. Usually we are consulted in naming the best basement contractors in Chicago, but this time we were asked to submit which visionaries and artisans we were aware of due to our extensive work with specialty builders. And when you see the work that was done on London House, you can’t help to be taken back.” Mark Sinola – Finished Chicago Basements .
The LondonHouse Chicago is an adaptive reuse venture that delivers together old and unique. A 1923 office structure, initially created by Alfred Alschuler for the London Guarantee & Accident Company, is combined with a new slimmer infill tower on a nearby site. The building is located in downtown Chicago at the famous intersection of Michigan Avenue and Wacker Drive, soaring above the Chicago River.
Following the successful renovation of the prevailing office structure more than a 10 years prior, GP was employed by a brand-new proprietor to lead the adaptive reuse of the building and design an incorporated new “sliver” pillar to the west to serve as a merged 452-key hotel and resort. The renovation encompasses 305,000 square feet of the existing 21-story building, with an expansion of 85,000 square feet next door..
The Drive Clean Taxi program
The Drive Clean Taxi program has been extended to June, 30th, 2017!
Chicago’s taxi, livery, and other public passenger vehicle operators regulated by Business Affairs and Consumer Protection are eligible to apply for up to $10,000 in incentives to transition into an alternative fuel vehicle. Applicants can apply the incentives toward an eligible Compressed Natural Gas (CNG) vehicle conversion or toward the incremental cost of a new CNG or battery electric vehicle (EV).
For more information on #DriveCleanChicago and its three voucher programs, along with updated available incentive amounts, please visit: www.drivecleanchicago.com
SBC – Social Media workplace policies seminar
TODAY @ 3PM the FREE business education workshop will discuss social media workplace policies and topics such as: what courts and government regulators are saying about workplace social media policies, employee content & account ownership (who owns what); how can a business protect its social media image; should we have a social media policy?; what are the areas of liability for businesses and how to avoid or minimize liability.
Naperville Area Chamber of Commerce’s luncheon discusses how culture strengthens your workplace.
Business and community leaders from surrounding the area gathered to learn how to support a healthy workplace culture.
That was the topic of the most recent Naperville Area Chamber of Commerce’s general membership luncheon.
A panel discussion led by Nicki Anderson brought three local leaders to the table to review how culture can strengthen businesses and not-for-profits.
Laura Ann Spencer, Executive Vice President of Perma-Seal Basement Systems, Dr. Scott Mitchell, the President and CEO of Samaritan Interfaith Counseling Center, and Mary Tobiason, General Manager of the Labs USA, revealed the vital function culture plays in helping keep personnel in-line with your organization.
“People have hundreds of chances to do what you do elsewhere, so if you’re not better, if you don’t make people feel welcome, if you don’t have that culture that is inviting, they’re going to go somewhere else,” said Tobiason.
Besides discussing ways to present and encourage culture in the work environment, the board also shared with the organization how culture can operate in tune with other objectives within a business.
“Culture is critical no matter how big or small your organization, you can have the best strategic plan in the world, but if you really don’t have a culture you can’t implement that,” said Dr. Mitchell.
Department of Labor’s Overtime Rule
U.S. District Judge Amos L. Mazzant III issued a temporary injunction today which will halt the implementation of the Department of Labor’s new overtime rule. This is not a permanent decision, but it does provide a temporary reprieve for businesses.
The new overtime rule was scheduled to take effect on December 1, 2016 and raised the white collar exemption for workers who are eligible for overtime to $47,476 a year. Now, with that rule delayed, the current threshold of $23,660 a year still applies. This means that approximately four million white collar workers who make more than $23,660 a year are not eligible for overtime, at least in the short term.
So, what does this mean for the future of the rule and for the changes many businesses have already implemented? In short, the answer is still unclear but it certainly seems more promising for businesses.
Note, however, that Judge Mazzant’s ruling here is a temporary injunction. In the decision he writes that a, “preliminary injunction preserves the status quo while the Court,” considers the merits of the case. He goes on to say that, “due to the approaching effective date of the Final Rule, the Court’s ability to render a meaningful decision on the merits is in jeopardy.”
So, as he continues to consider those merits he still may decide that the Final Rule is valid and enforceable, just at a later date. Mazzant may also overrule the Final Rule in part, such as the automatic readjustment every three years, while keeping the threshold intact. Though, that certainly seems less likely than it was yesterday.
In the meantime, there is still a bill passed by the House of Representatives, currently in the Senate, which would further delay the implementation of the Final Rule. In addition, it is widely expected that President-Elect Trump’s administration will be antagonistic to the Final Rule. If the court case continues to drag on past the inauguration, it is possible that Trump’s administration could drop the defense or issue a new overtime rule which rolls back the new grants in part or in whole
We will continue to keep you up to speed with any further developments.