Tucker Development Corp. and Joseph Freed & Associates have started construction on Metropolitan Square, a $65 million mixed-use residential and retail development in the heart of downtown Des Plaines.
The nine-acre downtown development bounded by Des Plaines-River Road, Perry, Lee, Miner and Pearson streets will be a catalyst for growth in the near suburb, according to city officials.
“Almost three years in the planning, the launch of Metropolitan Square has been a Herculean task,” said co-developer Richard H. Tucker, president and CEO of Tucker Development Corp., which is partners on the project with the city of Des Plaines as well as Joseph Freed & Associates.
Plans call for two mid-rise residential buildings, a 40,000-square-foot European-style grocery store and 67,000 square feet of other retail shops, restaurants and Des Plaines’ first Starbucks, according to Bob Fink, senior vice president of development for Joseph Freed & Associates.
Excavation for the grocery is underway, with completion targeted for late 2004 or early 2005. About 80 percent of units already have been sold in the residential component, www.metropolitansq.com, according to Joseph Freed.
Only 18 units remain for sale – nine one-bedroom units residences and nine two-bedrooms – according to James Colella, director of residential sales and marketing for Freed.
“Our contemporary, loft-style condominium building at Metropolitan Square is sold out,” Colella said. “However, a nice selection of residences still is available in the traditional-style condominium building.”
The traditional condos have one or two bedrooms, one to two baths and 869 to 1,544 square feet, priced from the $190s to the $300s. Standard finishes include wall-to-wall carpeting, enclosed kitchens with dining space, radiant heating and recessed private balconies.