Of the nine planned or proposed high-rises listed in that recent Crain's story about the approaching apartment boom, perhaps the most hotly-anticipated is the one planned for the corner of St. Clair and Illinois in Streeterville. Why should we care about that building more than the other eight? For one thing, the high-rise is being developed and designed by architect-developer David Hovey, president of Optima, Inc. Optima's latest endeavor in the area, the massive Optima Old Orchard Woods condo development that overlooks the Edens Expressway in Skokie, has been widely praised (Blair Kamin called it "one of the most exhilarating new high-rises" from the boom).
So, can we have a look at a rendering? "We've started the design development, but we don't have a rendering yet," Matt Cison from Optima told us over the phone last week. However, Cison described the design as "very modern," which is encouraging. Just three years ago, Centrum Properties had been marketing condos in a 41-story building designed by DeStefano + Partners that was planned for that site (see renderings here). In 2008, Optima purchased the site from Centrum, and they've been sitting on it ever since. Optima is still seeking financing for the approximately 40-story building, which will have 325 apartments. Let's hope Hovey's new building lives up to our expectations.
· Downtown apartment boom after condo market collapse [Crain's]
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