Class B Becoming Option A for Renters
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Presidential Towers, a mid-tier luxury development in Chicago and typical example of Waterton’s properties
CHICAGO—In 2016, developers will probably continue their recent focus on creating luxury developments, and push many renters to seek older class B communities that offer similar services and amenities at a more affordable price.
“Today’s class B apartment is yesterday’s class A apartment,” Peter Vilim, co-founder of Waterton, tells GlobeSt.com. For decades, his Chicago-based company has been taking over top-of-the-line, but slightly older properties, and adding little touches and updates. “That effectively delivers a class A experience in a building considered class B due to its age.”…
