Apartments Designed to Increase Scope of Neighborhood
- May 21, 2015
Chicago—Work has started on Vue53, a mixed-use project on the South Side of Chicago. The developers include Avison Young, Peak Campus Development and a financial partner, Blue Vista Capital Management, who were tapped for the job by the property owner, the University of Chicago.
Vue53 is near the intersection of 53rd St. and Kenwood Ave., directly north of Nichols Park. It will include 267 apartment units, along with 28,000 square feet of ground-level retail and 225 parking spaces. The project will seek a LEED Silver designation.
The project is part of a collaboration of the university, the City of Chicago and the Hyde Park community to create a mixed-use district on 53rd Street, which would broaden the scope of products and services available to the Hyde Park and Kenwood neighborhoods. The project will offer affordable housing units in excess of the City’s requirements, and is being developed without tax increment financing or other public subsidies.
The residential component will offer studios, plus one- and two-bedroom apartments. Common amenities include a multi-purpose clubhouse with Wi-Fi, 24-hour fitness center, 24-hour business center and secure bike storage. According to the developers, the apartments will provide new housing options for Hyde Park and Kenwood residents, as well as University of Chicago graduate students.
A gas station and cash wash previously occupied the site, which were demolished last year. Vue53 is slated for completion in September 2016.