Professional Documents
Culture Documents
Issue #2 April, 2011 Published By Metallic Lathers and Reinforcing Ironworkers Local 46, AFL-CIO
EQR Chairman Sam Zell Stirs Controversy in Berkeley
Equity Residential and its Chairman Sam Zell have generated significant recent controversy in the City of Berke‐
ley. The City’s main newspaper, the Berkeley Daily Planet, provided extensive coverage of Equity’s generous
financial support for Measure R, a controversial local initiative on last November’s ballot which called for
greater density in downtown Berkeley. Equity provided the largest single donation to the measure R cam‐
paign.17 Measure R passed by a significant margin.18
In its coverage of EQR’s involvement in the measure R campaign, the Daily Planet identified Zell as the man
who “bought the L.A Times and the Chicago Tribune and sucked them dry, ran them into bankruptcy.” Accord‐
ing to the newspaper, “when he’s not destroying newspapers, Zell is the dominant financial interest in Equi‐
ty…” which is “gradually buying up more and more of downtown Berkeley ‐‐ some believe it will soon be the
largest commercial landowner in the city, if it’s not already.”19
In response to EQR’s financial support for Measure R, the Berkeley Daily Planet announced a Sam Zell Cartoon
Contest. According to the newspaper, “we’ll pay $500 for the best editorial cartoon which depicts Sam Zell
(not a pretty fellow, judging by his picture in the Times) in bed with the League of Women Voters on one side
and the Sierra Club on the other,” both Measure R supporters.20
EQR Seattle‐Area Rezoning Subject to Long Review
EQR is seeking a significant rezoning in the Seattle, Washington suburb of Mill Creek in order to make way for a
new $60 million mixed use development.21 The company wants to amend the city’s Land Use Map to allow for
Mixed Use/High Density Residential development in a former mobile home park adjacent to an existing Equity
property.22 According to CEO David Neithercut, EQR is planning to build a $60 million, 95 unit residential de‐
velopment that will represent a third phase to one of the company’s existing Mill Creek properties.23
The City of Mill Creek Planning Commission is holding a public meeting to discuss Equity’s proposed zoning
changes on March 29th, the first of several public meetings to discuss the company’s proposal.24 The Planning
Commission is likely to vote on Equity’s proposed zoning amendment in June, after which the company must
seek a binding site plan. Equity is unlikely to begin construction before mid 2012.25
EQR Investor Bulletin is published by Metallic Lathers & Reinforcing Ironworkers Local 46
Please contact us for questions and comments at:
Metallic Lathers Local 46
1322 Third Avenue New York, NY 10021
Email: metalliclathers46@yahoo.com
Phone: 646-340-2145
Notes
1. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
2. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
3. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
4. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
5. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
6. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
7. “West End residents pan proposal to replace Garden Garage with housing,” The Boston Globe. February 8, 2011. Available at http://bo.st/hGchtJ
8. Equity Residential Garden Garage Project Notification Form. Available at http://bit.ly/i2NQcO
9. Boston Redevelopment Authority Project Announcement. Available at http://bit.ly/eQrWBZ
10. Equity Residential Acheson Commons Application Statement. Available at http://bit.ly/fDHrPq
11. “Proposed Acheson Commons Development Would Add 200 Units to Downtown Berkeley,” Berkeley Daily Planet. October 2, 2010. Available at http://bit.ly/emQNPP
12. Equity Residential Acheson Commons Application Statement. Available at http://bit.ly/fDHrPq
13. “Proposed Acheson Commons Development Would Add 200 Units to Downtown Berkeley,” Berkeley Daily Planet. October 2, 2010. Available at http://bit.ly/emQNPP
14. “Proposed Acheson Commons Development Would Add 200 Units to Downtown Berkeley,” Berkeley Daily Planet. October 2, 2010. Available at http://bit.ly/emQNPP
15. “Proposed Acheson Commons Development Would Add 200 Units to Downtown Berkeley,” Berkeley Daily Planet. October 2, 2010. Available at http://bit.ly/emQNPP
16. “Proposed Acheson Commons Development Would Add 200 Units to Downtown Berkeley,” Berkeley Daily Planet. October 2, 2010. Available at http://bit.ly/emQNPP
17. “Chicago Politics Comes to Berkeley: Sam Zell Behind Measure R,” Berkeley Daily Planet. October 12, 2010. Available at http://bit.ly/gFPn7U
18. http://www.eastbayexpress.com/92510/archives/2010/11/03/measure‐r‐wins‐in‐berkeley‐but‐so‐do‐arreguin‐and‐worthington
19. “Chicago Politics Comes to Berkeley: Sam Zell Behind Measure R,” Berkeley Daily Planet. October 12, 2010. Available at http://bit.ly/gFPn7U
20. “Chicago Politics Comes to Berkeley: Sam Zell Behind Measure R,” Berkeley Daily Planet. October 12, 2010. Available at http://bit.ly/gFPn7U
21. EQR Q4 2010 Conference Call; City of Mill Creek Spring 2011 Newsletter. Available at http://bit.ly/grF2ig
22. City of Mill Creek Spring 2011 Newsletter. Available at http://bit.ly/grF2ig
23. EQR Q4 2010 Conference Call
24. City of Mill Creek Spring 2011 Newsletter. Available at http://bit.ly/grF2ig
25. Email from Mill Creek Planning Staff on 3/30/11
26. Chicago Better Business Bureau EQR Rating. Available at http://bit.ly/eJGqCM
27. Chicago Better Business Bureau EQR Rating Details. Available at http://bit.ly/eSJ3QU
28. Chicago Better Business Bureau EQR Rating Details. Available at http://bit.ly/eSJ3QU
29. Maryland Attorney General Statement on EQR Suit Settlement. Available at http://bit.ly/eUCPLr
30. EQR Response to Florida Class Action Ruling. Available at http://bit.ly/fTrZzR