Riverside Investment & Development is joining the West Loop apartment development boom, Crain’s Chicago Businessreported. Riverside will team with Chicago-based Blue Star Properties to co-develop a 14-story, 198-unit apartment building at 566 W. Van Buren St., according to a public notice from Ald. Brendan Reilly.
The project is slated for the northeast corner of Van Buren and Jefferson streets, which is currently home to a surface parking lot and a pair of two-story retail buildings. It will be located a block west of Riverside’s recently opened BMO Tower at 320 S. Canal St.
“Right now, the product of the moment is residential,” Riverside CEO John O’Donnell told Crain’s. Although he’s still in the process of obtaining construction financing for the $80-million to $90-million project, he intends to break ground late this year with a plan to complete it by early 2024, Crain’s reported.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).