Grant Park Village's Second Phase To Break Ground This Year
The second phase of Capstone Partners’ Grant Park Village is slated to break ground this fall. Phase 2 will be a U-shaped building five stories tall.
Bisnow spoke to Capstone Partners principal Jeff Sackett, who told us the project was approved by the Design Commission in April and is in the financing stages. Phase 2 is estimated to cost around $40M. An underground parking garage will serve the 167 apartment units of Phase 2, which is set to be completed in Q1 2018.
Grant Park Village’s existing residential units, Jeff tells us, have a 95% lease rate. The 211 apartments come in several shapes and sizes, including studios, one-, two- and three-bedroom options. Along Northeast Broadway, Grant Park Village offers 48k SF of retail space that is 100% occupied.
The village features an outdoor community with a gas fire pit and lounge, a bike repair shop and a pet spa with a grooming station (amenities that have grown in popularity). It sits at an intersection that handles 30,000 cars per day and houses New Seasons Market on-site, providing residents with access to fresh, local produce.
