FOR IMMEDIATE RELEASE:
REVA Development Partners Breaks Ground on Luxury Rental Community Northgate Crossing in Wheeling
CHICAGO (Tuesday, October 7, 2014) – Chicago-based REVA Development Partners announced it has broken ground on a 288-unit luxury rental community in north-suburban Wheeling, Ill., called Northgate Crossing. REVA is partnering with Chicago-based Blue Vista Capital Management on the development.
Located at 250 Northgate Parkway, Northgate Crossing is part of the village’s Town Center district which is anchored by the municipal campus, fitness and aquatic centers, large scale Heritage Park redevelopment and an existing Metra Station. The village also recently signed an agreement for the additional development of future residential and retail on an existing 17 acre village-owned parcel.
“The village board has worked tirelessly on this exciting town center development area, and we’re very happy to be such an integral part of it,” said Matt Nix, principal of REVA Development. “With such a wide variety of retail, office development, park space, and, of course, residences within walking distance of the Wheeling Metra station, the town center is sure to become a destination for people in the north suburbs to live, work and play.”
The 20-acre Northgate Crossing development will feature nine three-story apartment buildings on a heavily landscaped, amenity-rich site. The apartment homes will include one-bed/one-bath and two-bed/two-bath plans measuring approximately 700 to 1, 200 square feet.
Amenities will include an approximately 7,000-square-foot clubhouse with a fitness center, club room, demonstration kitchen, gaming/theater room and management offices. Residents will also enjoy an outdoor swimming pool, outdoor kitchen, ample patio seating, an outdoor fire pit, a bocce ball court, a dog park, walking paths and a landscaped water feature.
“The transit-oriented, town center design coupled with the mix of amenities and a maintenance-free apartment lifestyle will attract a variety of residents, including young professionals, downsizers and transferees,” noted Warren James, principal of REVA Development. “And the lower-density design along with the timeless architecture and use of high quality materials is in keeping with existing development found throughout the area, which was very important to the village board.”
James added, “In recent years, there hasn’t been any type of development like this in Wheeling, so this will be a terrific new option for people wanting a new-construction, condo-quality rental apartment in the area.”
The proximity of Northgate Crossing to the north suburban office corridor will be a major draw for residents, noted Nix. “With nearby employers such as Walgreens, Discover, Takeda and Estellas, the property will draw professionals into the community who previously had li its limited supply of luxury rental housing,” he said. “Plus, offering a walkable Metra station means that a commute to the city is a real option for singles and couples splitting their commute between the Loop and the northern suburbs.”
Northgate Crossing is located just north of Dundee Road on Northgate Parkway, approximately 1 mile west of Milwaukee Avenue. It is roughly 2.5 miles from Interstate 294.
Kinzie Builders, a division of Kinzie Real Estate Group, is serving as the general contractor and construction project manager. Kinzie Real Estate Group will also oversee the leasing and management of Northgate Crossing. Financing for the development was provided by Fifth Third Bank.
Leasing and first occupancies are expected in spring 2015. For more information on REVA Development, visit www.revadevelopment.com.
REVA Development Partners is a privately held, Chicago-based real estate development company. The principals, Warren James and Matthew Nix, have extensive experience successfully developing high-quality rental and for-sale housing and mixed-use projects throughout the Midwest. REVA is currently construction approximately 825 luxury rental units in Wheeling, Vernon Hills and Orland Park. REVA’s expertise includes land acquisition, design, planning, financing and construction for projects ranging from small infill sites to complex, master-planned developments. One of REVA’s strategic advantages is its relationship with Kinzie Real Estate Group, which provides land development, general contracting, property management and brokerage services. For more information, visit www.revadevelopment.com and www.kinziegroup.com.
Editors: Prices are subject to change. To confirm current information, contact Vanessa Irving at [email protected] or (312) 267-4525.
Photo Caption: Chicago-based REVA Development Partners announced it has broken ground on a 288-unit luxury rental community in north-suburban Wheeling, Ill., called Northgate Crossing.