Arlington Downs Prepares For Leasing
Journal & Topics | Tim O’Connor | April 24, 2014
The $250 million Arlington Downs project will begin leasing apartments next week with the goal of moving the first tenants in by early August—or even sooner.
Siobhan Glenn, marketing coordinator at Stoneleigh Companies, said they would open a marketing center at 2924 Euclid Ave., Arlington Hts., on May 2 to begin leasing the 214-unit building. Leases will also be available at the development’s website, www.onearlington.com, and at booths set up at Arlington Park on May 2 and other dates during the summer.
The project is an overhaul of the former Sheraton property at Rohlwing Road and Euclid Avenue. The hotel closed at the end of 2009 and was purchased by the Argent Group in June 2011. The former hotel tower is being converted into upscale apartments while the CoCo Key water park will reopen under new management.
Glenn said the water park plans a 10,000 sq. ft. expansion that will add rides aimed at an older crowd.
Work on the tower began last year and should finish this summer. Windows are already installed on some of the lower floors but Glenn said the roof must be completed before the upper, penthouse floors can be finished. Interior work will then commence.
The first tenants are expected to move in at the beginning of September but Glenn said crews are pushing to move that up to August.
“As soon as we can we’ll put people in their space,” she said.
The tower will contain 51 studio apartments, 113 one-bedroom spaces, and 50 two-bedroom units.
There will be retail on the first floor of the tower as well as a retail complex in front of the main building. Glenn said they are still working to secure retailers for the site.
Arlington Downs representatives David Trandel, CEO of Stonestreet Partners, and Rick Cavenaugh, president of Stoneleigh Companies, talked about the benefit of the project during an Arlington Economic Alliance Breakfast yesterday (Wednesday) morning at the Metropolis Ballroom in downtown Arlington Hts.
Union members protested during the breakfast on the corner of Vail and Campbell streets outside Metropolis. Glenn said she was unsure of the specific complaints by the union but that Stoneleigh was committed to working those problems out.
She confirmed there was a brief work stoppage last week but that work resumed after about half a day.
Future phases of the development call for two additional residential towers to be built on the site. That component and the water park expansion plans were expected to be discussed during the village plan commission meeting last night (Wednesday).