Evanston Council OKs $148 Million Apartment Project

   EVANSTON, IL – The Evanston City Council approved plans from co-developers Fifield Cos. and Carroll Properties for a 368-unit luxury apartment project in the downtown area. Construction of the two-building project is set to begin in the third quarter.

   “This is an amazing development opportunity in one of Chicago’s premier Northshore communities,” Steve Fifield, president of Fifield Cos., says in a release.  “This project will help ignite the luxury rental market in an already thriving downtown.”     The $148 million development will consist of two buildings, at 1881 Oak Ave., and 1890 Maple Ave. The property at 1881 Oak will be 16 stories and 1890 Maple will be 14 stories. The buildings will be connected by a four-story structure that will include three floors of parking and a fourth-floor amenity deck.     “As our economy recovers, developers are coming back,” Evanston Alderman Ann Rainey says. “This is an indication that Evanston is a wonderful place to live and do business. I am excited that this wonderful project has been revived as it will be a boon for our downtown businesses and it will bring a welcome tax boost to our city.”    Most of the development will be luxury rentals, but it will also offer 4,000 square feet of ground floor retail space and 12 street-level townhomes along Emerson Street.     Located on the north side of the downtown area, the development will be within walking distance to dining, shopping and entertainment. Residents will have access to cultural amenities provided by the nearby Northwestern University’s campus    Public transportation will offer convenient access to Chicago. The development is two blocks from the Foster stop on the CTA’s Purple line and three blocks from the Main Street station that services Metra trains and the CTA’s Purple line.     “As one of the most active developers in Chicago’s luxury rental market, we are excited to embark on another trophy-class development,” said Randy Fifield, vice chair of Fifield Cos.     Fifield Cos. recently sold Alta at K Station, an 848-unit Class A luxury apartment development, for $302 million in December. The firm has also started leasing for the 496-unit K2 at the K Station development.