Next Research Park building may include apartments

CHAMPAIGN Living quarters may be coming to the University of Illinois Research Park.

Developer Peter Fox of Fox/Atkins Development said he's considering including some top-floor apartments in the next office building that goes up in the research park.

That building will likely be located south of the I Hotel and Conference Center and north of the new Yahoo building under construction on South First Street.

Fox, who said there's a "50/50" chance of going ahead with the residential idea, envisions eight to 10 rental units atop the building, each of which might lease for $2,000 a month.

The units would likely be 1,500-square-foot, two-bedroom apartments with contemporary, European-style furnishings and outdoor decks, he said. The building itself would probably be at least three stories tall.

Fox said the apartments could appeal to people who work in the research park or to new faculty members and administrators who need temporary lodging while preparing to buy or build a home in the community. The proximity to the heart of campus would be a draw, he said.

People relocating to Champaign-Urbana can find suitable quarters in downtown Champaign and at Baytowne in north Champaign, Fox said, but there aren't many options close to campus that are similar to what he envisions.

Plus, the units could be an alternative for extended-stay guests who now stay at the I Hotel. Some services that hotel guests enjoy, such as maid service and in-house laundry service, could be extended to apartment residents, he said.

Research parks on other campuses are starting to include residential components, Fox said.

"You're seeing that at Research Triangle Park (in North Carolina)," he said, adding that many people want to "live, work and play" in the same area.

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Next Research Park building may include apartments