Daily Newsletter

14 November 2023

Daily Newsletter

14 November 2023

HRP and Beyond the Ball to renovate basketball courts in Chicago

Bear Construction will carry out construction of the project as its general contractor.

November 14 2023

Hilco Redevelopment Partners (HRP) has partnered with sports organisation Beyond the Ball to begin renovation works on basketball courts in the Little Village community, Chicago, US.

The renovations will convert the basketball courts, which are said to be poorly lit and have cracks, depressions, and potholes, into secure and modern amenities.

HRP is financing the project, which will see the development of a new pavement, striping, fence repairs, and LED lighting.

Bear Construction is the general contractor and will carry out this renovation project. Bear is also working with HRP on the Lawndale Fleet Storage Yard renovation development.

Beyond the Ball founder Robert Castaneda said: “Beyond the Ball is greatly appreciative to HRP for the investment in the basketball courts at the Gary/Ortiz campus.

“Throughout the years HRP has given school supplies, including shoes, meals for families during the holidays, provided toys for youth at Christmas, and coats for all ages during the winter. This donation is different. It provides infrastructure that contributes to public safety in our community.”

The courts were previously used to offer year-round youth sports events in the neighbourhood.

The Little Village basketball courts are on the grounds of two Chicago Public Schools, Joseph E Gary Elementary and Josefa Ortiz de Dominguez Elementary.

Approximately 1,500 students from preschool to eighth grade attend Ortiz and Gary Elementary.

HRP CEO Roberto Perez said: “Transforming the Gary and Ortiz Elementary School basketball courts is a unique opportunity to create meaningful change in our hometown and in the same community where we have transformed a former coal-fired power plant into a sustainable economic engine, creating thousands of jobs here in Little Village.”

Saudi Arabia construction market dynamics

Per GlobalData, between 2024 and 2027, the Saudi Arabian construction industry is projected to register an AAGR of 5% in real terms, supported by investments in various sectors such as data centers, logistics zones, renewable energy, housing, and tourism projects as part of the Kingdom’s ‘Vision 2030’ economic diversification plan. Construction activity in the energy and utilities sector is estimated to grow at an AAGR of 5.6%, supported by the government’s aim to increase the renewable energy capacity and achieving zero net carbon emissions by 2060.

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