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BARAT WOODS/BEF COLLABORATION CREATES A WIN FOR THE COMMUNITY
Last post 05-04-2006, 10:53 PM by admin. 0 replies.
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 05-04-2006, 10:53 PM |
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Joined on 04-06-2006
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Lake Forest
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BARAT WOODS/BEF COLLABORATION CREATES A WIN FOR THE COMMUNITY
Source:
http://www.thebaratfoundation.org/documents/BaratWoodsPurchaseReleaseFINAL12506.pdf
FOR IMMEDIATE RELEASE CONTACT: Betsy Sales
January 25, 2006 (312) 943-1955
BARAT WOODS/BEF COLLABORATION CREATES A WIN FOR THE COMMUNITY
DePaul University sells Barat Campus to partners in housing and education
(Lake Forest, IL) The Barat Education Foundation (BEF) announced today that it
has collaborated with Barat Woods LLC, managed by local Lake Forest developer
Robert Shaw, to purchase the 23-acre Barat Campus from DePaul University.
"The Foundation has spent the last two years searching for a partner that
would embrace our
mission of education, social responsibility and community participation,"
said BEF chairman
Sheila Smith. "We are absolutely thrilled that this collaboration will
allow the Foundation to
continue the Barat legacy on the campus."
"Bob Shaw has a proven track record in Lake Forest of developing projects that
enhance our
community," said Lake Forest Mayor S. Michael Rummel. "Bob knows Lake Forest, and I
believe the redevelopment plan that he brings forward will be sensitive to the
issues that are
important to our community, including historic preservation, open space,
traffic volumes and high
quality development. We are pleased that this collaboration with the Barat
Education Foundation
will also allow the BEF to remain and further its mission in our
community."
The agreement to sell the property was reached after more than a year of discussion
with many
parties that expressed interest in the property since the DePaul University's
Board of Trustees
announced the campus would close at the conclusion of the 2004-05 academic
year. DePaul
worked closely with the City of Lake
Forest and a public planning task force to identify a
mutually
acceptable and viable use for the land. The BEF united with Shaw to exercise
its right of first
opportunity to purchase the property if it were not sold to an educational,
religious or civic
organization.
"DePaul is proud of its collaboration with the city to envision a high
quality, low impact concept
for the neighborhood, and particularly pleased that BEF's involvement signals a
continuity of
concern for the City of Lake Forest
and its residents," said the Rev. Dennis H. Holtschneider,
C.M., DePaul's president.
Though actual development plans have yet to be finalized, the developer's
vision is to create a
multi-faceted residential community on the campus property. Old Main, the original college
structure, will be adaptively reused and converted into condominiums. The
expansive south lawn,
remembered by many as the site of the Barat "Shakespeare on the
Green" festivals, will be
protected and remain as is or enhanced.
"As a longtime resident of Lake
Forest, I am committed to creating a residential
development that
will protect and preserve this historic, beautiful property while building
housing that will appeal to
a wide range of buyers," Shaw said. "This project is both challenging
and exciting. We look
forward to working with city government, preservation-minded organizations and
local residents
to create a residential development that will enhance the Lake Forest community."
The BEF has a promising future as well. "Since our inception in 2000, the
BEF has provided over
$1 million for scholarships and program support," Smith said. "In
addition, the BEF American
Memory Program was the recipient of a federal grant, which has enabled more
than 400 teachers
and 5,000 students in Lake
County to participate in
our program."
# # # #
The Barat Education Foundation is an independent 501(c)(3) organization that
was established in
2000 prior to the closing of the alliance with DePaul to maintain the Barat
legacy. The
Foundation was charged with the development and support of innovative
educational programs
and services that reflected the values and educational tradition of Barat College
and St.
Madeleine Sophie Barat, foundress of the Society of the Sacred Heart. For more
information on
the Foundation and its programs, please visit www.TheBaratFoundation.org.
Robert G. Shaw serves as principal officer and owner of various local
residential real estate
companies including Academy Woods Ltd., The Preserve of Middlefork Farm and
Barat Woods
LLC. Mr. Shaw has been actively involved in various community activities
including city
government (Lake Forest Caucus and ad hoc, senior housing, historic
preservation and finance
advisory committees) and serves on the boards of the Lake Forest Symphony, Lake Forest Health
and Fitness Center, Lake Forest/Lake Bluff
Historical Society, Lake Forest Senior Cottage
Foundation and the Elawa Farm Foundation.
-Paul Gerth Where is John Galt?
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