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Pandemic Puts Outdoor Amenities, Middle Markets into Multifamily Spotlight

The impact of COVID-19 on the multifamily sector may not have been as severe as its effect on the retail or office asset classes, but there are still many ways that those professionals active in the multifamily space adapted to pandemic-driven changes. Some of these adjustments, such as virtual apartment tours, are likely permanent.

Here are four pandemic-related trends expected to influence the multifamily sector in 2021, according to a roundup of Midwest-based real estate experts.

Incorporating biophilic design

With the COVID-19 pandemic encouraging Americans to stay outdoors for gatherings in effort to reduce transmission of the virus, there is a greater emphasis on the outdoors and nature. Expect multifamily developers to focus more on bringing the outdoors in via building designs, floor plans and amenities. Large outdoor terraces and rooftop amenity areas are becoming increasingly prevalent in new projects, particularly those in urban environments.

At Optima Lakeview, a Chicago-area multifamily project currently under construction, developer Optima Inc. incorporated a landscaped interior atrium that will run through the building’s core and bring in natural light.

“Green spaces not only improve the air quality for our residents but also those living near our buildings because vertical gardens filter pollutants and carbon dioxide out of the air,” says David Hovey Jr., president of Optima.

Read the full feature on RE Business Online

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Exterior Construction Finalizes At Optima Lakeview In Lakeview East

Final facade work is wrapping up for Optima‘s seven-story mixed-use building known as Optima Lakeview, located in Lakeview East. Residing at 3460 N Broadway on the former site of a Treasure Island Foods grocery store and parking lot, the development involves a 14,000-square-foot retail component and 198 apartment units on the upper floors. These rentals range from one- through three-bedroom layouts.

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview (center)

Optima Lakeview (center). Photo by Jack Crawford

Optima Lakeview will offer a marked number of amenities, spanning more than 40,000 square feet. These spaces include an indoor basketball court, a golf simulator and putting green, a fitness center, a dog park, a children’s center, a demonstration kitchen, and a co-working space with conference rooms. Notably, the edifice will be capped by a sprawling rooftop skydeck with a pool and expansive views of the lake, Wrigleyville area, and downtown.

Optima Lakeview rooftop pool and deck

Optima Lakeview rooftop pool and deck. Rendering by Optima

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Other resident features comprise of an in-home concierge program, exclusive benefits and discounts connecting to the local vicinity, and a unique package of various in-house services which include in-home plant watering, thermostat adjustments, and front-door package delivery.

Optima Lakeview private terrace

Optima Lakeview private terrace. Rendering by Optima

Streetscape View at 3460 N Broadway. Rendering by Optima Inc

Streetscape View at 3460 N Broadway. Rendering by Optima Inc

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Given Optima’s all-encompassing role in the project, CEO and architect David Hovey Sr. is behind the contemporary design. The massing’s trapezoidal footprint conforms to the angled plot. The top three floors are also recessed from the lower four to allow for sprawling private terraces. As far as the exterior, the first four floors are enveloped in a dark brick and metal facade with recessed balconies, while the upper three are finished in a more minimalist glass and metal curtain wall.

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

Optima Lakeview interior atrium

Optima Lakeview interior atrium. Rendering by Optima

The structure’s interior layout is also unique in that both the apartments and amenities are accessible via a full-height interior atrium. The atrium integrates both a skylight and various decorative flora. Since YIMBY’s last update on the project, Optima has released additional renderings of this central interior scheme.

View of 3460 N Broadway. Rendering by Optima Inc

View of 3460 N Broadway. Rendering by Optima Inc

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

In addition to the 94 off-street parking spaces and storage for 208 bikes, residents will also find a host of public transit options within immediate proximity. Those looking for bus access can find Route 36 at the corner of Broadway & Cornelia. Other bus options within close walking distance include Routes 8, 22, 77, 135, 146, 152, and 156. Anyone looking to board the CTA L Red Line will have access to Addison station via an 11-minute walk northwest. Additional L service for all three of the Brown, Purple, and Red Lines is available at Belmont station, a 16-minute walk southwest.

Optima Lakeview

Optima Lakeview. Photo by Jack Crawford

 

Read more on Chicago YIMBY

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Optima, Inc. expands property management and leasing portfolio with three Chicago-area luxury rental communities

Optima, Inc. announced that it will lead property management and leasing services at three Chicagoland Class A rental buildings—its 490-unit Optima Signature mixed-use development in Chicago’s Streeterville neighborhood, the under-construction 198-unit Optima Lakeview in Chicago’s Lakeview neighborhood and its upcoming 109-unit building in downtown Wilmette, Illinois, along Chicago’s North Shore.

While Optima has served as the owner, architect, developer and general contractor for its properties in Chicago and Arizona for more than 40 years, the firm primarily focused its property management services at its Scottsdale, Arizona rental communities, including the two-tower, 363-unit Optima Kierland Apartments and the five-building, 768-unit Optima Sonoran Village.

“As we expand our portfolio in the Chicago area with two new luxury apartments in development, it is a natural progression to bring management in-house, enabling us to provide the same level of exceptional service we’ve perfected at our Arizona communities,” said David Hovey Jr., AIA, president and COO of Optima, Inc. “Optima Signature residents will quickly recognize our commitment to the resident experience, because as the designer, builder, and property manager, we are able to create a truly holistic experience, tailored to their preferences.”

To kick off its property management services at Optima Signature this month, Optima has unveiled a full roster of resident services and virtual event programming such as housekeeping, pet care, car care, virtual fitness classes and room service and barista service through Pear Chef.

Open since 2017 and just steps from Michigan Avenue and the Riverwalk, Optima Signature is a 57-story luxury rental development at 220 E. Illinois St. with 490 studio, convertible, one-, two- and three-bedroom units with 1.5 acres of amenity space.

Optima Signature’s first-class amenities include resort-style indoor and outdoor heated swimming pools; cabanas and bars; a cutting-edge fitness center with saunas, steam rooms and WELLBEATS virtual workout studio; resident lounge with coffee bar; basketball, squash and bocce ball courts; and golf simulator and putting green. On a separate floor, residents can access cardio and strength-training equipment, a yoga studio, locker rooms with both steam and shower and indoor children’s play area.

Outdoor amenities feature multiple terraces with 16 fire pits, new heat lamps to enable more outdoor time during the cold weather months, a 40-yard running track, dog park, children’s play area, whirlpool spa, cabanas, lounge seating, televisions, co-ed sauna and steam rooms, a kitchen, grilling stations and dining areas.

Scheduled to open in spring 2022 at 3460 N. Broadway, Optima Lakeview is a seven-story transit-oriented development (TOD) of 198 one-, two- and three-bedroom units with 14,000 square feet of street-level retail in Chicago’s Lakeview neighborhood within walking distance of Lake Michigan and Wrigley Field.

Optima Lakeview’s 40,000-square-feet of amenities will be spread across the building and include a rooftop sky deck with pool, spa, terrace and party room; a striking glass-enclosed atrium; indoor basketball court; golf simulator and putting green; fitness center with state-of-the-art equipment; yoga/stretching room; sports lounge; dog park and pet spa; children’s play area; game room; demonstration kitchen; two conference rooms; and a business center. Residents can use the 94 fully enclosed parking spaces at grade level and storage for 208 bicycles.

Construction is set to start later this year on a new development of 109 luxury one-, two- and three-bedroom apartments and 8,000 square feet of street-level retail at 1210 Central Avenue in downtown Wilmette. The location across the street from the Metra commuter train station at Green Bay Road will be ideal for North Shore commuters. Amenities will include a rooftop sky deck and pool, residential courtyard and a suite of additional amenities. The building will also have 173 parking spaces, including some electric vehicle charging stations.

The Wilmette development will showcase Optima’s innovative vertical landscaping system—well known at its Arizona communities—with hand-selected plants that will stay green year-round, even during the most extreme weather conditions. First move-ins are planned for 2023.

Learn more at Optima Signature

Read the full feature on RE Journals

Optima Lakeview Marks First with WiredScore Gold Rating

Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood, is the first North American residential development to secure a WiredScore Gold rating for digital connectivity, said developer Optima Inc.

“At a time when people are working from home more than ever before, Optima Lakeview is proud to be a leader in ensuring residents can access a fast and reliable wireless connection throughout the building – whether they are in their home or using one of the many amenity areas,” said Optima president David Hovey Jr., AIA.

WiredScore research shows that four out of five Americans expect the Internet to work as reliably as any other utility, yet 86% of renters continue to have Wi-Fi connectivity issues and service disruptions. The new certification for digital infrastructure measures a building’s technology against benchmarks, including how connectivity will be delivered and planned utility upgrades as technology evolves.

 

Visit Optima Lakeview for more details

Optima Lakeview Luxury Rental Building Opens In Closed Treasure Island Grocery’s Spot With Year-Round Rooftop Pool

LAKEVIEW — A seven-story luxury apartment building that replaces Lakeview’s closed Treasure Island grocery store recently opened — with Chicago’s first year-round rooftop pool.

Optima Lakeview, 3478 N. Broadway, is a 198-unit apartment building designed by David Hovey Sr., Optima CEO and founder. The building opened in April and is 35 percent leased while construction on its top floors remains underway.

“We’re excited to bring to market Optima Lakeview, a development as vibrant and dynamic as the surrounding Lakeview neighborhood for which it’s named,” said David Hovey Jr., president, chief operating officer and principal architect for Optima.

Credit: Provided/Michael Duerinckx Photography
The Optima Lakeview atrium features plants that will grow vertically and hang down the atrium.

The building features a modern exterior with warm-toned materials, including transparent bronze glass and dark brick to complement the neighborhood, Hovey Sr. said.

Inside, the building features an open, seven-story atrium that runs through the core of the building and has hanging landscaping that will drape into the atrium as the plants grow, Hovey Sr. said.

The building offers a mix of one-, two- and three-bedroom apartments with smart-home technology, according to Optima. Many units have private balconies or terraces.

The average unit size is 1,053 square feet, with rents of $2,500-$10,000 per month, according to Optima.

Credit: Provided/Michael Duerinckx Photography
Optima Lakeview’s average unit size is 1,053 square feet, with rents ranging from $2,500 to $10,000 a month.

Amenities include contact-free, in-home package delivery, housekeeping services, a gym with fitness programs and a virtual personal assistant.

The building also has a rooftop deck with views of Lake Michigan, Wrigley Field and the skyline, according to Optima. The sky deck has fire tables and heaters for colder months.

The 35-by-25-foot rooftop pool is heated and will remain open year-round, according to Optima. The rooftop also has a spa, theater, lounge seating, dozens of grills and kitchen stations, a glass-enclosed party room and other amenities.

The building also has a 2,000-square-foot heated dog park, an indoor basketball and pickleball court, sports lounge and a golf simulator, according to Optima.

Other amenities include a yoga room, sauna, pet spa, children’s play area, game room, residents’ club and chef’s kitchen, according to Optima.

The building will cater to people who work from home with two wired conference spaces and a business center, as well as multiple indoor and outdoor seating areas where residents can work, according to Optima.

Credit: Provided/Michael Duerinckx Photography
Optima Lakeview’s amenities include a gym.

Optima Lakeview is a transit-oriented development with proximity to multiple bus routes and train lines, according to Optima. The building has 208 bicycle spaces and 94 fully enclosed parking spaces, including six electric vehicle charging stations.

“Lakeview residents who watched the building take shape were among the first to sign a lease, with the majority saying the primary reasons were our architectural design, amenity package that spans 40,000 square feet, resident programming and convenient location,” Hovey Jr. said.

 

Read more on Block Club Chicago

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Optima Expands Management Portfolio to Chicago

Optima Inc. has expanded its property management and leasing capabilities to its projects in Chicago. Despite being owner, architect, developer and general contractor for its properties in Chicago and Arizona, Optima previously only handled property management services for its Arizona communities.

Now the company will take on property management and leasing for its three Class A rental buildings in the Chicago area: Optima Signature, Optima Lakeview and Optima Wilmette. David Hovey Jr., Optima’s president & COO, said in prepared remarks that it was a natural progression for Optima to bring management in house as the company expands its Chicago area portfolio.

With Optima Signature being the only completed community, Optima will kick off its property management services there by offering resident services and virtual event programming that includes housekeeping, pet care, car care, virtual fitness classes and room and bar service.

Located at 220 E. Illinois St., Optima Signature opened its doors in 2017. The 57-story luxury rental development offers 490 units through studios, convertibles, one-, two- and three-bedroom floorplans. The property’s amenities include a fitness center, resident lounge, children’s play area, running track, dog park, outdoor kitchen, sports courts and indoor and outdoor pools. Residents also get direct access to the nearby Whole Foods from the building.

Visit Optima Signature for more details

Read the full feature on Multi-Housing News

Optima Lakeview Becomes First North American Residential Development to Earn WiredScore Gold Rating for Digital Connectivity

GLENCOE, IL – Design-driven real estate development firm Optima, Inc. announced today its new 198-unit Optima Lakeview luxury apartment community in Chicago’s Lakeview neighborhood is the first North American residential development to secure a WiredScore Gold rating for digital connectivity.

Optima Lakeview, a seven-story luxury rental apartment building with 14,000 square feet of street-level retail at 3460 N. Broadway, is scheduled to welcome its first residents in early spring 2022. WiredScore, the world’s leading certification company for technology in buildings, recently launched its WiredScore Home global digital connectivity rating system to better inform residents about the level of service they can expect in their home.

“At a time when people are working from home more than ever before, Optima Lakeview is proud to be a leader in ensuring residents can access a fast and reliable wireless connection throughout the building – whether they are in their home or using one of the many amenity areas,” said David Hovey Jr., AIA, president. “People’s reliance on technology has only increased since the pandemic, so we’re excited to show our residents our commitment to meeting their technology needs in their new home. At Optima Lakeview, residents and their guests can confidently use their devices wherever and whenever as they’ll always have strong connectivity.”

WiredScore research shows that 4 out of 5 Americans expect the Internet to work just like any other utility, yet 86% of renters across North America continue to have Wi-Fi connectivity issues and service disruptions. The new certification for recognition for best-in-class digital infrastructure measures a building’s technology against benchmarks, including how connectivity will be delivered and planned utility upgrades as technology evolves.

A strong Wi-Fi connection isn’t the only work-from-home feature Optima Lakeview offers. Its one-, two- and three-bedroom units average 1,053 square feet – significantly larger than what’s currently available in the local market – to accommodate dedicated space for a home office. Optima Lakeview also will include two conference spaces and a business center, as well as several indoor and outdoor seating areas and multiple technology providers from which residents can choose.

Additional benefits to living at Optima Lakeview include 40,000 square feet of amenities across the building, including biophilic design elements such as a rooftop sky deck, pool and spa that will be usable year-round. The sky deck also features grilling stations, outdoor kitchens, fire pits with lounge seating, an outdoor theater and a glass-enclosed party room. A striking atrium runs through the building’s seven-story core and is topped with a skylight to bring in abundant natural light.

Residents of the building will also have access to an indoor basketball/pickleball court; sports lounge; golf simulator and putting green; fitness center with state-of-the-art equipment; yoga/stretching room; sauna; heated dog park and pet spa; children’s play area; residents’ club, game room; and chef’s kitchen.

Beyond state-of-the-art connectivity and amenities, residents at Optima Lakeview can also take advantage of a suite of on-demand services for even more convenience. Optima’s specialized Optimized Service® program provides contactless in-home package delivery, housekeeping services, on-site room service, fitness programming, pet care services, moving assistance, and a virtual personal assistant, while its Optima Connect® customizes exclusive benefits and discounts for residents who patronize local businesses.

 

Read more on MultifamilyBiz

Visit Optima Lakeview for more details

Amenity-Rich Rental Property in Chicago Includes Seven-Story Atrium with Vertical Landscaping

The recently opened 198-unit Optima Lakeview luxury rental apartment building in Chicago is bursting with amenities such as the region’s first year-round rooftop pool, contact-free in-home package delivery, housekeeping services, on-site room service, fitness programming, and a virtual personal assistant. Emphasizing wellness and outdoor space, Optima designed the building with setbacks providing multiple residences with private outdoor landscaped terraces, complete with trees, built-in grills, and fire pits. Terraces range from 67 sf to about 1,600 sf.

Most shared amenities are connected by the seven-story atrium running through the building’s core that is topped by a skylight. Natural light floods this space including strategically placed planters on various floors surrounding the atrium that will form a hanging garden when the plants mature.

A rooftop sky deck offering views of Lake Michigan, Wrigley Field, and the Chicago skyline is equipped with fire tables and heaters suitable for the city’s colder climate. The 35-by-25-foot rooftop pool will stay heated and swimmable year-round. Residents can use the rooftop’s spa, theater, lounge seating, and a dozen grills and kitchen stations. The rooftop also includes a glass-enclosed party room appointed with TV, various seating arrangements, and a full chef’s kitchen. Residents’ pets can enjoy the outdoors in the building’s 2,000 sf heated dog park.

An indoor basketball/pickleball court, sports lounge and golf simulator are all located near the main entrance and are flanked by street-level windows. Upstairs, residents have access to a fitness center with state-of-the-art equipment, a yoga/stretching room, sauna, pet spa, and a children’s play area with an emphasis on active gross motor play. Additionally, a residents’ club, game room, and chef’s kitchen provide space for parties and events.

Those working from home have access to two wired conference spaces and a business center, along with several indoor and outdoor seating areas. Multiple technology providers offer residents with choice for digital connectivity. The building recently became the first North American residential development to earn WiredScore Gold Rating for Digital Connectivity.

The building’s modern exterior uses a sophisticated palette of warm-toned exterior materials, including transparent bronze glass and rich, dark brick that complements the architecture of the surrounding neighborhood. One-, two- and three-bedroom units come with high-end finishes and smart home technology. Private balconies or terraces are per plan.

 

Read more on Building Design + Construction

Visit Optima Lakeview for more details

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