CHICAGO—High Street Residential, the residential subsidiary of Trammell Crow Company, and joint venture partner of the Carlyle Group, has acquired a 3.63 acre site in suburban Park Ridge to construct Park 205, a 3-story class A 115-unit apartment community. Company officials say this will be the first LEED-certified multi-family project ever built in Park Ridge.
The project will offer one bedroom, one bedroom plus den, two bedroom, two bedroom plus den and three bedroom units. The company will begin construction in the third quarter and deliver it by the fourth quarter of next year.
“Park 205 will be the first luxury apartment project developed in Park Ridge and our team is thrilled to be a part of such an exciting project,” says John Carlson, senior vice president with Trammell's Chicago business unit. “We enjoyed working closely with the city and community to ensure we create a best-in-class residential community that will benefit the residents and visitors of Park Ridge for years to come.”
The community is adjacent to the newly-constructed Whole Foods Market and minutes from the Uptown Park Ridge, a mixed-use development on six acres that has condominiums, lofts, row houses and retail space.
“We are thankful for the city and residents and to be doing a transportation-oriented development near a historic downtown location with easy access to retail and businesses,” says Tom Levy, Carlyle principal.
ESG Architects will serve as the project architect and McShane Construction will serve as the general contractor. David Paino will oversee the construction of the project on behalf of Trammell.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
