The CA Ventures project at Wabash and Roosevelt isn’t a student housing project, after all, according to the public relations agency representing the project.
“You had posted a story in early October citing the development as student housing while it is in fact a residential, multifamily rental building which will be open to anyone looking for a highly amenitized – yet attainably priced – rental residence. Lendlease is overseeing construction of the Solomon Cordwell Buenz-designed tower,” wrote Sara Picchioni Williams, a senior account executive at Taylor Johnson.
Here is a link to the originally published article from October, based on building permit data and previously published material:
Lend Lease (US) builds $58.05 million student housing project at Wabash and Roosevelt
However, recently Williams provided a news release telling the story the way the developers want it to be shared:
CA Ventures and K Giles LLC Announce Start of Construction on 26-Story Mixed-Use Tower in Chicago’s South Loop
Transit-oriented development 1136 South Wabash to include 320 luxury apartments, 5,000 square feet of retail
CHICAGO (October 28, 2016) — CA Residential LLC, the multifamily investment and development division of Chicago-based CA Ventures, in a joint venture with Chicago-based K Giles LLC, announced it has commenced construction on a 320-unit mixed-use development at 1136 S. Wabash Ave. in Chicago’s South Loop. Located steps from the CTA Roosevelt station, which serves the CTA’s Red, Green and Orange lines, the transit-oriented project is scheduled to deliver in May 2018 and will be managed by Chicago-based The Habitat Company.
“The South Loop is one of the city’s fastest-growing neighborhoods and we believe demand for housing in this area will only continue to increase as development pushes farther south,” said J.J. Smith, COO of CA Ventures. “With 1136 South Wabash, we’ll be able to transform an underutilized parking lot into a modern mixed-use development that will appeal to a wide range of renters by offering a mix of unit sizes, lifestyle-oriented amenities and an unparalleled location at the epicenter of all the South Loop has to offer.”
When complete, the 26-story tower will include 320 luxury apartments, 5,000 sq. ft. of street-level retail and parking for 141 vehicles. Residences at 1136 South Wabash, located on floors six through 25, will include 160 studios, 80 one-bedroom/one-bath units and 80 two-bedroom/two-bath units, with floor plans ranging in size from 389 to 1,027 sq. ft.
Each apartment will feature high-end kitchens with contemporary cabinetry, quartz countertops with glass tile backsplash and stainless steel appliances; full-height, ceramic wall tile in baths; Grohe plumbing fixtures throughout; and in-unit washer and dryer. Floor-to-ceiling windows will showcase sweeping views of the downtown skyline and Lake Michigan from nearly every residence. Select units will also feature private balconies.
“We’ve learned that renters want all of the amenities and high-end finishes that today’s luxury apartment towers have to offer but at a more attainable price point,” said Smith. “With units starting under $1,500 per month, 1136 South Wabash will present a relative value compared with other newly developed residential communities in the South Loop.”
In addition to well-appointed residences, 1136 South Wabash will boast more than 22,000 square feet of amenity space, including a rooftop deck with multiple landscaped terraces, seating areas, and an outdoor pool and spa. The building’s fifth floor will house a state-of-the-art fitness center and yoga studio; business center; meeting pods; entertainment suite; media and gaming rooms; pet grooming station; and outdoor dog run.
Residents will also enjoy the convenience of nearby restaurants and retail, including a Trader Joe’s grocery store across the street from the building. And, more than 300 acres of green space will be within walking distance of the community.
“1136 South Wabash is located just north of Wabash and Roosevelt, the heart of the vibrant South Loop neighborhood,” said Keith Giles, principal, K Giles LLC. “There is no other property in the neighborhood that compares to this location with its convenient access to the neighborhood’s most popular shopping, dining and entertainment destinations, not to mention it’s just steps from Grant Park, the Museum Campus and Lake Michigan.”
Lendlease, one of the world’s largest development, property, infrastructure and construction management firms, will oversee construction of the Solomon Cordwell Buenz-designed tower.
“We are excited to have been selected as the general contractor for this project and to have the opportunity to contribute to the growth of the South Loop’s residential market,” said Jeffrey Riemer, executive vice-president and executive general manager of Lendlease.
