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Development Update: Flats Chicago

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David Roeder devotes some time to the subject of Cedar Street's Flats Chicago apartment renovation projects for Chicago Grid. Getting into the head of CEO Alex Samoylovich, Roeder locates the inception and momentum of Flats Chicago — a branding vehicle for the turnaround of some 2,000 apartments, with a concentration in Uptown. The company specializes in buying "hairy deals" and once turnaround is complete on a building Samoylovich hopes renters come to think of the brand as rich in amenity with "approachable" rents. How approachable? "Our price points for some of the units will start as low as $650, $700." Much work is underway with more coming, including, possibly, the rehab of the embattled Lawrence House. [Chicago Grid, previously]