Rare Sighting: Suburban Multifamily Development
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Trammell Crow, through subsidiary High Street Residential, is building 138 luxury units in downtown Glenview, bucking the trend of downtown groundbreakings in today's hot multifamily market. The 215k SF development, called Midtown Square, will be just east of the Glenview train station on Glenview Road. It'll target professionals commuting downtown, Trammell's John Carlson(left) tells us, along with single parents, families with children--for walk-up street-level units--and empty nesters. (It's a veritable UN of demographics.)Demolition of the site's existing buildings, including the current Glenview Fire Department HQ, and construction kick-off are both scheduled for July.
John says TC was attracted to the area because of a lack of existing Class-A product and strong rent growth. Having successfully navigated the complicated entitlement process (a big reason nobody builds in the 'burbs), TC plans to deliver units fall 2014. In addition to 9,000 SF of first floor retail, community amenities will include a sun deck, bicycle storage, and a dog wash station. (Why are dogs riding bikes?) Fitzgerald Associates Architects is lead architect and McShane Construction is GC on the project. We can't forget John's summer plans: He'll be spending weekends in Northern Minnesota on the lake, don't 'cha know.
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