In an article about the sale of Cityfront Place, Crain's reveals that another downtown rental high-rise is set to break ground by October. Amli Residential's plans for the 49-story tower, which will be located at the southeast corner of Clark and Hubbard streets in River North, were first announced last summer. Originally, the building was expected to have 427 apartments, but that number has been reduced to 407 in the latest report. Amli CEO Greg Mutz is quoted in the story, and he sounds positively bullish on the local rental market. "We've rebounded as an industry at such an incredible pace that I can't believe it," he tells Crain's. "We've got a lot of exuberance in the air." According to an older story, tenants in the new tower would have access to a landscaped deck on top of Greenway Self Park (which is located next door), that would include a pool and a jogging path. This beige building is the only rendering we've seen so far.
· Flipping is back in style with Streeterville apartment tower sale [Crain's]
· Apartment tower slated for River North [Crain's]