CHICAGO, IL – Moment, a new luxury apartment tower, has opened in the heart of Chicago’s bustling Streeterville neighborhood. The 45-tale, 490-unit building at 545 N. McClurg Court welcomed its first residents in late July, according to international real estate firm Golub & Company, the developer. Designed to meet LEED Silver Standards, Moment also boasts nearly 40,000 square feet of indoor and outdoor amenities, including many thoughtfully designed spaces dedicated to wellness and healthy living.

“We are pleased to add a health and wellness-focused high rise apartment community to this vibrant neighborhood,” said Golub & Company President and CEO Michael Newman. “We have a long tradition of development in Streeterville, and we reckon Moment is a new and different way to meet the strong demand in this neighborhood for luxury living.”

At Moment, residents can take a mindful break from their daily lives in amenity spaces including the ELEVATE Rooftop Pool + Lounge, the MIND + BODY Wellness Spa, the REJUVENATE Sauna + Steam room, the INVIGORATE Massage Room, the VITALITY Fitness Hub and MEDITATE Yoga Studio, and the SERENITY GARDEN. They also share access to a demonstration kitchen, entertainment gallery, media theatre, coffee and tea bar, a self-service pet spa, a business center, and cabanas and grilling stations.

“At Moment, our busy, health-conscious residents can participate in yoga, massage, swimming and exercise without ever leaving the building,” observed Paula Harris, Golub & Company Principal and Senior Vice President. “By going down the hall instead of across town, you can fit health and wellness activities into a busy schedule.”

The apartments, available in studio, convertible, one-, two- and three-bedroom layouts, feature floor-to-ceiling windows, plank flooring, European-style frameless cabinetry, marble mosaic backsplashes, pearl quartz countertops in kitchen and bath, stainless steel appliances, and in-unit washer and dryer sets.

The silver-blue tower features a contemporary glass and metal exterior wall with taut, flush panels arranged in a pattern of asymmetrical bay windows. This combination of color and geometry provides each apartment with unique urban views and distinguishes the tower from neighboring buildings. The building also includes an attached 290-car parking garage and 5,200 square feet of ground-floor retail.

The architect for Moment is Solomon Cordwell Buenz and the general contractor is Walsh Construction. Construction financing was provided by The PrivateBank (as Agent and Sole Lead Arranger), The Union Labor Life Insurance Company and Prudential Mortgage Capital Company.

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ORLANDO, FL – Avesta Communities announced the buy of Andover at Winter Park, a 348-unit apartment home community in Orlando, Florida.  The community will be rebranded as Avesta Winter Park and will be managed by Avesta Homes.  Avesta Winter Park is located several miles from downtown Winter Park and is zoned for all “A” rated schools. 

Avesta will start a multimillion-dollar capital improvement program including the renovation of both the interior and exterior of the community.  Currently, the community offers numerous amenities, including a dog park, a fitness center, a business center, and a community pool.  Avesta plans to expand these amenities by adding a splash pad, a second dog park, and a summer kitchen.

“We are pleased to find this expansive 26-acre community in one of the most desirable locations in Orlando,” said Joe Facchini, Avesta Partner.  “This area’s population is expected to grow by seven percent in the next four years, and the unemployment rate in Winter Park is the lowest in the entire Orlando market.  All of this means Avesta Winter Park should benefit long-term from a strong renter base.”

Avesta Winter Park is the newest property to be owned and operated by Avesta in the Orlando area.  This latest acquisition brings the total number of Avesta apartment homes in the market to nearly 1,200.  Other Avesta owned and operated properties include Avesta Bridgewater, located southeast of downtown Orlando, which was bought in June.

“Avesta’s vision is to be the world’s most resident focused company,” said Rachel Ridley, Avesta Partner.  “Our goal is to serve 50,000 residents by 2019.  The acquisition of Avesta Winter Park brings us closer to reaching that goal.”

Avesta is a vertically integrated company, handling acquisitions, property management, construction management and portfolio management in-house.  Avesta’s mission is to give people a home where they can live abundantly and make more community in the world.

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LOS ANGELES, CA- LaTerra Development, a Los Angeles based real estate developer, has started construction on two infill apartment projects totaling 325 units in Santa Ana and Chula Vista. Each project was capitalized with institutional joint venture equity and construction financing.

LaTerra started construction this week at The Line at Santa Ana, a 3.9-acre, TOD mixed-use development containing 228 apartment units and 4,000 square feet of ground floor retail, located at 3630 W. Westminster Avenue in Santa Ana, the county seat of Orange County. “The Line is in a prime location at Harbor Boulevard and the 22 Freeway in the award winning Garden Grove school district and is directly adjacent to a future light rail line stop,” clarified Charles Tourtellotte, President and CEO of LaTerra.

“LaTerra designs and constructs its apartment projects with top notch amenities,” Tourtellotte added. The Line will contain a 2200 square foot fitness center with 20’ ceilings and store front glass windows overlooking a resort style pool deck. The clubroom will contain accordion doors that open up to the 60’ pool and adjacent hot tub surrounded by cabanas and an outdoor fire place. Additionally, The Line will contain a rooftop lounge with views of the Disneyland fireworks, BBQs, and an outdoor theater.

Underway in Chula Vista, the second largest city in San Diego County, is LaTerra’s Stone Creek Casitas, a 97-unit garden style apartment project located at 3875 Main Street, immediately West of the Interstate 805 Freeway. Residents will benefit from the city approved revitalization of both Main Street and the waterfront located just a few miles directly west of Stone Creek. The Main Street improvements will include sidewalks and pedestrian friendly walkways from the 3-mile corridor between Interstate 805 and Industrial Boulevard. The Waterfront revitalization will include the development of hotels, restaurants, and retail, making thousands of jobs.

LaTerra is a rapidly growing Los Angeles-based residential and mixed-use development company with a focus on urban infill locations. LaTerra consistently integrates green building practices into its projects and has a diverse portfolio of land entitlement and development projects throughout Los Angeles, Orange and San Diego counties.

“We are excited to expand our apartment and mixed use development platform while forming new relationships with quality institutional capital partners,” Tourtellotte added. “We continue to entitle and develop job centric projects close to public transit with top notch amenities that will have a positive fiscal impact on the community,” he concluded.

In addition to the new apartment projects, LaTerra recently completed entitlements on two projects with 179 entry level homes in infill Los Angeles and El Monte. These two projects were recently sold to two public residential homebuilders.

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