 |
| Rendering of planned Norweta Row luxury apartments, Lincoln Park Neighborhood, Chicago, IL |
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P.
(HFF) announces $20.95 million in financing for the development of 42
luxury apartment units at Norweta Row in Chicago’s Lincoln Park
neighborhood.
 |
| Christopher Knight |
The HFF team worked on behalf of Broder to secure the
construction loan through Citizens Bank. Norweta
also includes 31 for-sale condominium units that share amenities with the
apartments, but were not part of the collateral for this loan.
Norweta Row will be located at 2611 North Hermitage southeast of
the intersection of W. Diversey Parkway and N. Clybourn Avenue in Lincoln
Park.
The apartment phase
of the project is due for completion in the spring of 2019 and will encompass a
four and a half-story building with 42 rentable apartment units totaling 79,000
square feet.
The 31 for-sale condominium units will total
83,900 square feet. Both phases of the project will be constructed to LEED
Platinum specifications and will include smart-home technology, pre-wired
surround sound, hardwood floors, quartz countertops, Sub-Zero refrigerators and
Wolf appliances, and full-size washers and dryers.
 |
| Greg LaBine |
Community amenities
will include nearly an acre of outdoor space, a resort-style pool, fire pit,
outdoor dining and grilling area, private courtyards, 30-foot sport court, pet
concierge service, dog wash station and electric car charging stations.
The HFF debt placement team representing the borrower included
director Christopher Knight and managing director Greg LaBine.
“Norweta Row’s attention to detail, thoughtful unit layouts and
breadth of amenities in the highly desirable Lincoln Park neighborhood is
unique to the market and will be very well received by renters and buyers
alike,” Knight said.
For more information, please contact:
OLIVIA
HENNESSEY
HFF Public Relations
Specialist
(713) 852-3500
No comments:
Post a Comment