Near West Real Estate Special Report - Chicago Sun Times
By Jean Williams, Aug. 2004
With the development of Westhaven Park, a new $200 million residential community, the Near West Side is poised for a major residential buuilding boom, real estate experts say.
A recently launched new condominium and rental apartment phase of Westhaven Park is part of a larger 764-unit development on 26 acres that is transforming the rapidly emerging area.
Early signs of Westhaven Park's success include a number of occupied units and the rapid pre-sales of condominiums.
Some 155 new apartment units are being delivered this summer, and 173 condominiums will be delivered next year as part of the new phase.
"Housing industry experts are already praising the transformation development for its innovative architectural designs, mixed-income framework and community involvement," said developer Richard J. Sciortino, president of Brinshore Development, LLC., and co-developer of Westhaven Park.
Meanwhile, the West Loop, Chicago's most attractive new downtown residential neighborhood, is growing so fast and so successfully developers are setting their sights farther west -- to Ashland Avenue and beyond.
"With the West Loop nearly filled with upscale condominium developments, and the extremely successful 'restaurant row' along Randolph and Greek Town on Halsted providing a chic dining scene, the best bargains for young professional condo buyers noware west of Ashland on the emerging Near West Side," Sciortino said.
Westhaven Park's new phase is an innovative residential neighborhood of mid-rise condominiums and walk-up city flats being developed.
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