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 Park Ridge, IL, to construct Park 205, a 3-story Class “A” 115-unit apartment community. The project will offer one bedroom, one bedroom plus den, two bedroom, two bedroom plus den and three bedroom units. Construction is expected to begin in 3Q 2014 for delivery in 4Q 2015.
“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. 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,” said John Carlson, Senior Vice President with Trammell Crow Company’s Chicago Business Unit. “We believe the project’s amenities, including sharing a property line with Whole Foods, and proximity to various transportation options, will make this an attractive place to live.”
Amenities will include a pool and sun deck including outdoor fire pits and cabanas, club room, WI-FI coffee lounge, fitness center, business center, dog spa, guest suite, bicycle storage and covered/heated parking.
Park 205 will be the first LEED Certified multi-family project ever built in Park Ridge.
The community is adjacent to the newly-constructed Whole Foods Market and minutes from the Uptown Park Ridge, a dynamic town offering a variety of entertainment options. Park 205 is located five miles northeast from O’Hare International Airport, within minutes from major federal expressways – Interstate 294, Interstate 94 and Interstate 90 and walking distance to the Park Ridge Metra Station, connecting the residential community to Chicago’s CBD within 30 minutes.
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 Crow Company.