Chicago — Construction has begun on Vue53, a $75 million mixed-use project in Chicago. The development team, which includes Avison Young, Peak Campus Development and Blue Vista Capital Management, was awarded the assignment by the University of Chicago to develop, finance and manage the project.
Vue53, which is slated for completion in September 2016, is located north of Nichols Park and will comprise 28,000 square feet of ground-level retail, 267 apartment units and 225 parking spaces. The project will seek a LEED Silver certification from the U.S. Green Building Council.
The development is a collaborative effort by the University of Chicago, the City of Chicago and the Hyde Park community to create a mixed-use district on 53rd Street.
The residential component of Vue53 will offer studio, one- and two-bedroom apartments, high-end finishes and ample amenities, including a multi-purpose clubhouse with Wi-Fi, 24-hour fitness center, 24-hour business center and bike storage. The apartments will provide housing options for Hyde Park and Kenwood residents as well as University of Chicago graduate students.