David Hovey, president of the development company Optima Inc., garnered his status as a great architect with the completion of his Optima Old Orchard Woods project. Now, expectations are high for his Streeterville project, located at St. Clair and Illinois Avenue, just north of the NBC Tower.
Hovey’s Old Orchard Woods condo development overlooks the Edens Expressway in Skokie and has received much praise. Tribune architect critic Blair Kamin referred to the 20-story complex with its three interconnected towers as “one of the most exhilarating new high-rises.”
Hovey’s design for the Streeterville project is of a boxy apartment tower in the 40-story range, and will contain 325 units as well as a retail section. “We’ve started the design development,” said Optima’s Matt Cison, who described the building as being“very modern.”
The project is a joint venture between Optima Inc. and Centrum Properties Inc., and was purchased somewhere between the $45 and $50 million range – surprisingly high given the downturn in the market for new, high-priced condos.
Centrum properties commented the buildings marketing would be handled by the Chicago real estate firm, Eastdil Secured LLC.
Hovey has designed three other major properties located in downtown Evanston, including the 28-story tower at 1720 Maple Avenue, noted for its yellow-orange colored balcony railings.