If there’s a race to be the first new residential building to open each year in Chicago, then K2 just won it.
The Fifield/Wood Partners project at 365 North Halsted Street in the Fulton River District received its certificate of occupancy this past Thursday, January 7th.
However, the championship title may be one that Magellan Development’s The Coast might want to dispute.
The Coast (345 East Wacker Drive) anticipates having its first residents move in this month — February, 2013. K2 won’t have its first person move in until March 1.
Perhaps it comes down to how you define “open” — Actually having residents, or having the legal authority to have residents.
Another big difference between K2 and The Coast is that K2’s PR company sends us press releases letting us know what it’s up to. Magellan and The Coast… *crickets*, even though we’ve spent tens of thousands of dollars on Magellan apartments over the last decade.
Below is the complete K2/Fifield/Wood press release:
Chicago-based Fifield Companies and national developer Wood Partners received a partial certificate of occupancy yesterday for K2, a new 496-unit luxury apartment building in Chicago’s River West neighborhood, making it the first apartment tower to open in 2013. The first move-ins will take place on March 1.
“Thanks to great partners, the best development team in Chicago and some help from Mother Nature, we are bringing K2 to the market two months ahead of schedule,” said Randy Fifield, vice chair of Fifield Cos. “The development process for this project has been incredibly smooth and we are excited to offer residents in Chicago their first chance to rent in a new premier luxury building this year.”
The certificate of occupancy is valid for the basement through the seventh floor of the 34-story apartment tower.
According to Steve Fifield, president of Fifield Cos., the Chicago market experienced only 800 new units delivered in 2011 and 2012 combined, so demand for new product is high. “We’re not the only apartment building opening this spring, but we are the first. And in this heated market, timing can be everything,” he said. “With the level of amenities and finishes we’re offering, we’re setting the bar high in what renters should expect from a new, luxury apartment building.”
With construction for the entire building nearly complete, leasing has begun in earnest. Potential residents can visit www.k2apts.com to apply for units and to learn more about K2, its numerous amenities and the River West neighborhood.
Residences at K2 include studio, one-, two- and three-bedroom apartments. Interiors feature luxury finishes such as nine-foot ceilings, stainless steel appliances, granite counter tops, plank flooring and Grohe fixtures. Rents range from $1650 for a studio to $6500 for a three-bedroom, three-bath penthouse.
K2 features a two-story entrance and lobby with a floor-to-ceiling window wall showcasing views of Chicago’s Loop. All on-site amenities will be located on the building’s first floor.
“Residents are going to be blown away when they see our lobby,” said Randy Fifield. “We’re still putting the finishing touches on it, but the art installation we have in place is unlike anything else out there in an apartment building.”
Residents have access to a variety of high-end amenities at K2, including 24-hour concierge, two lounge and party areas, each featuring large flat-panel televisions with surround sound, multiple seating and table vignettes and pool tables. Each lounge area will have a fireplace and open to the outdoor pool deck.
At the center of K2’s outdoor amenity area is a 70-foot lap pool with four full-sized swimming lanes. The pool deck will feature four cabanas, including two that can be completely enclosed for outdoor massages. The outdoor lounge area comes with a gas fire pit and direct access to both interior party rooms and lounge areas.
Inside K2’s business center are six computer stations and a separate boardroom for residents’ business needs. A theater room will feature a 120-inch projection television system with THX 5.1 surround sound and couches, chairs and café tables for 13.
The building also offers a state-of-the-art exercise facility, basketball court and yoga studio. The exercise area will offer a full complement of weight training and aerobic equipment. All aerobic equipment will feature iPod docs and flat-panel televisions. The exercise facility will also have men’s and women’s locker rooms complete with steam rooms, showers, and lockers.
Bicycle storage was also a top priority in the design of K2 due to the building’s proximity to downtown Chicago’s existing and future protected bike lanes. K2 has been designed to offer bicycle commuters an ideal ingress/egress point and it is grade level with Kinzie Street. The building can accommodate storage for 200 bicycles in its three-story parking garage.
The property has been built to LEED Silver standards and will have a building-wide recycling program, as well as GE charging stations for electric vehicles.
Fifield partnered with Wood Partners to break ground on K2 in October of 2011 and topped-off the building in October of 2012.
K2 Apartments is located at 365 N. Halsted Street. For more information on leasing at K2, visit www.k2apts.com or call 855.886.7774.