Sherman Plaza, the tallest residential building in downtown Evanston at the time of its construction, consists of 253 condominiums, lofts, and penthouse residences, a garage with 1,585 parking spaces, and 156,000 GSF of retail space. The residents of Sherman Plaza have an array of amenities close at hand, including a 24-hour doorman, a green roof with a half-acre of space, a community room, and membership in a 54,000 SF health club.
Upon completion and lease of most of the retail space, Focus sold the Shops at Sherman Plaza to a national real estate acquisition and management firm.
Often, enhancing communities also involves building new value into them. Evanston had an unusable 700 car garage, but the city lacked the resources to fix it. Focus brought creative solutions to not only solve the city’s problem but also activate a larger economic engine for the area. Together, Focus and the city of Evanston utilized tax increment financing (TIF) to access new resources. A land swap with Focus provided a new location for much-needed parking. Focus tore down the unusable garage and, in its place, built a large, mixed-use environment that includes retail and condominiums. The new environment attracted consumers, residents, and retailers, spurring new economic activity to benefit the community at large.