Rockrose Development has secured $270 million in construction financing for its 974-unit “80/20” rental apartment tower complex at 43-25 Hunter Street in the Court Square section of Long Island City, Queens. Rockrose negotiated directly with the lead bank lender, Wells Fargo, together with TD Bank and Capital One for the multi-bank loan. The loan was […]
McHugh Construction has “topped-off” the 43-story apartment tower called Hubbard Place developed by The Habitat Company. The latest addition to Chicago’s River North neighborhood, Hubbard Place is a 43-story apartment tower with 495 residences and an adjacent 8-story parking garage that will accommodate 520 vehicles, capped with a small pool and a private park.
Designed to USGBC LEED Silver standards, the developer claims that Hubbard Place will include high-end finishes, amenities, and services. The Habitat Company applied for the city of Chicago’s ‘Green Permit Program’ which offers qualifying projects an expedited permit process and reduction of the permit fees in exchange for meeting certain sustainable criteria and LEED cetification.
Other Chicago projects that McHugh Construction has been involved with include Coast at Lakeshore East and the 92-story Trump Tower, which is the tallest concrete building in the United States. The Habitat Company has over $2 billion in assets and more than 20,000 residential units in six states under management including numerous Chicago residential towers.
The architect for Hubbard Place is Solomon Cordwell Buenz. The building is expected to be ready for occupants in October of this year.
Photo courtesy McHugh Construction