In a luxury arms race of sorts, developers are delivering ultra luxury apartments from coast-to-coast, trying to keep up with the fast growing demand for this segment of the residential market. MarketWatch recently spoke with Taylor Johnson client Fifield Cos. about its latest development in Chicago, the 496-unit K2 Apartments, and the reasons behind the recent luxury rental boom. For an east coast example, TJ pointed the MarketWatch reporter in the direction of MiMa by Related Companies, parent company of client Related Midwest.
In the competitive luxury rental market,
developers are offering unique perks to stand out. At K2 in Chicago, residents have access to a basketball court that doubles as a yoga studio.