Regina Stilp | Source | Founding Principal at Farpoint Development
Regina Stilp
Regina Stilp has been a visionary force in commercial real estate for more than two decades, developing sustainable, desirable properties that galvanize communities. She embraces projects with a purpose, such as the Bronzeville Lakefront development on Chicago’s South Side and properties in the U.S. Southeast, which infuse hope into areas that will benefit from inclusive economic development.
Regina was one of the first employees at Sterling Bay and rose to principal. She was behind the design and execution of some of Chicago’s most architecturally acclaimed developments of the 2000s, including the creation of Google’s Midwest headquarters and the redevelopment of Oprah Winfrey’s Harpo Studios into a showcase global HQ for McDonald’s. Dedicated to diversifying real estate development, Regina prioritizes partnering with minority-and women-owned businesses. At Bronzeville Lakefront, for instance, minority-owned businesses comprise 65% of the project.
She serves on the advisory board of First Women’s Bank, one of the few women-owned U.S. banks. She is a member of the CREW Chicago network of women in commercial real estate and the Economic Club of Chicago.
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“It really is the next industry for Chicago,” said Regina Stilp, principal of Farpoint Development, part of a team chosen by the city to transform the former Michael Reese Hospital site on the Bronzeville lakefront into a $7 billion mixed-use development.
Farpoint’s team will soon break ground on the Bronzeville Innovation Center, a 500,000-square-foot building with labs and offices, where life sciences entrepreneurs will create startup firms with help from Israel’s Sheba Medical Center. Stilp said it and other new developments means Chicago may finally compete with mammoth life sciences clusters in Boston, San Francisco and San Diego, giving the thousands of scientists and lab workers graduating each year from local universities ways to stay in their hometown and grow its economy.
“They want to stay here, but there’s this brain drain to the coasts because there are no life science jobs or tech jobs that they really want,” Stilp said. “So, we’re trying to solve that.”
"Life sciences developments are booming in Chicago, bringing jobs and helping fight ‘brain drain’" Chicago Tribune, May 31, 2022
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CRE owners who are willing to change with the times today are more likely to still be in business tomorrow. Regina Stilp, founding principal at Farpoint Development, noted leasing at her company is slower following the pandemic, but she remains optimistic that people will want to return to the office at some point.
“Everyone loves to say the office is dead, but there is nothing else for learning a field or craft like collaboration or building relationships like face time, and you can only get those interactions in an office setting,” she told Fast Company. “I think the pendulum will swing back—not to a full 180 degrees —but definitely close to it.”
"CRE owners get creative to reduce vacancy rates" Connected Real Estate Magazine, June 5, 2023
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The developers call it the largest mixed-use project undertaken in Chicago. Despite the pending election of a new mayor and an alderperson who will influence the process, Stilp said the project has broad community support and should not suffer delays because of politics.
"Long-planned redevelopment of former Michael Reese Hospital site kicks off" Chicago Sun-Times, March 28, 2023
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Farpoint Development
Founding Principal