Hyde Park Progress: How an occasionally hated development company is doing good things for Hyde Park. It’s an interesting look at the other side of urban renewal and gentrification.
Since acquiring its first rental property in Hyde Park, MAC Property Management has sunk a whopping $200,000,000 in construction costs to renovate, restore, and add to the inventory of rental units to the neighborhood.
The down side is that this activity may add to the pressure for low-rent, off campus student accommodation as much as the boom for condo conversion did. K&G answered that need for many years, and it’s not clear that it was good for the neighborhood as a whole.