CHICAGO—The market for class A+ multifamily towers may look quite similar from city to city, at least in terms of overall design and appearance. But officials from Minneapolis-based Ryan Cos. US, Inc. say expectations for projects in its hometown and ones in Chicago are significantly different.
As reported in GlobeSt.com, the company and its development partner Lincoln Property Co. just put the finishing touches on Aurélien, a $100 million luxury apartment tower on the Gold Coast. Ryan has done multifamily work across the US, but this was its first major development in the City of Chicago, and company officials say that by giving Aurélien a touch of the Twin Cities, the new community has an advantage over its peers.
“The unit finishes that renters expect are substantially different from market to market,” Mike Ryan, president of Ryan A+E, the design architect, tells GlobeSt.com. In Minneapolis apartments, for example, developers need to include a higher level of finishes than typically seen in a market like Chicago.
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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.
