Vue53 has set rates for apartments that start at $1,400 per month for a studio apartment. [Courtesy of Peak Campus]
HYDE PARK — Vue53 has released its rental rates as the new 13-story tower on 53rd Street prepares to welcome its first tenants in the summer.
The 267-unit building at 1330 E. 53rd St. has opened up leasing for one of the largest new residential buildings in the neighborhood in the last 10 years.
“The building is currently as tall as it’s going to be and we’re putting the skin on later this month,” said James Hanson, principal at Avison Young, the developer of the $75 million project.
With leasing starting, the developer has opened a storefront leasing office at 1453 E. 53rd St. for the mix of studios and one- and two-bedroom apartments.
And unlike the other major residential project in the neighborhood, City Hyde Park, Vue53 still has some affordable apartments available.
All of the 36 affordable units in the swank Jeanne Gang-designed City Hyde Park project were almost immediately snapped up by early October, leaving Vue53 as the only option for affordable units in new construction in Hyde Park.
The rents at Vue53 come in higher on the affordable side, starting at $746 a month for a studio compared to $613 per month at City Hyde Park, but there are more one- and two-bedrooms available.
On the market-rate side, Vue53 has released rental rates comparable to City Hyde Park.
A fully furnished 800-square-foot, two-bedroom on the top floor of Vue53 will run $2,630 per month, plus another $200 every month to rent one of 130 parking spots reserved for residents.
Unfurnished studios start at $1,400 per month.
Despite the urge to compare the only two new construction developments in Hyde Park, Hanson said the projects won’t compete with each other.
“I’m guessing they’ll be fully occupied before we open,” Hanson said.
He said the next step for the Vue53 project was to lease out the main 28,000-square-foot retail space on the main floor. He said he expected to be able to announce a tenant early next year.
People interested in an affordable unit in the building must apply in person.
Renters in the affordable units will have access to the same amenities as the market-rate units, including a washer and dryer in the unit and access to the fitness center, lounges and two rooftop patios.
Tenants are expected to move in to the Vue53 building in the late summer. [DNAinfo/Sam Cholke]
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