CHICAGO—The recession caused many developers to take plans fornew projects and put them on the shelf. But the recovery now takingshape now has many reconfiguring those old plans, updating them to reflect currentconditions and putting shovels in the ground.Chicago-based REVA Development Partners, forexample, has just broken ground on two luxury rental communities insuburban Chicago – a 231-unit luxury rental community in southsuburban Orland Park called the Residences of Orland Park Crossingand a 288-unit luxury rental community in northwest suburbanWheeling called Northgate Crossing. Phase one of Orland ParkCrossing included a 75,000-square-foot lifestyle center completedback in 2006.
“The original plan called for a much larger retail lifestylecenter,” Matt Nix, principal of REVA, tellsGlobeSt.com. “The current plan reflects the strength of multifamilyas well as a more balanced mix of uses including retail,residential and office located around a major transit hub.”
As reported in GlobeSt.com, REVA has also launched the development of a luxury rental community in suburbanVernon Hills. The company currently has a total of 823units under development in the three communities
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
