Multifamily Developers Need to Understand Unique Dynamics

The north end of Aurélien pays homage to the architectural tradition of Ludwig Mies van der Rohe.

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.