Chicago developer pitches 702 apartments in Pleasant Prairie
A national developer is proposing 702 high-end apartments in Pleasant Prairie to help address the area’s housing shortage, but it says the $185 million project isn’t feasible without substantial assistance from the village.
Bond Cos., which has offices in Chicago and Los Angeles, is proposing the project on 66 acres around 11423 110th St., just east of the Pleasant Prairie Premium Outlets along Interstate 94.
“Pleasant Prairie is significantly under-housed,” Bond Cos. Co-Founder and President Rob Bond told the Pleasant Prairie Village Board on Monday, citing data indicating that the number of jobs recently created in the village far exceed the number of housing units approved. “Our project is really an answer.”
Bond Cos.’ proposed garden-style apartment development, called Inspire Prairie Springs, would be built over two phases with floor plans ranging from studios to three-bedroom units. Amenities would include a pool, pickleball courts, a putting green and a one-mile walking path, plans show.
The average monthly rent would be $1,839 or $2.12 per square foot — a price point that would be at the high end of the market but not the most expensive, according to Bond. Rents are higher at The Reserve at Kenosha, he noted.
Read more at the Milwaukee Business Journal.
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