Cities
Legacy Partners Kicks Off LA-Area Marina Renovations
The company started the $65 million revamping of the 379-unit Wayfarer Apartments + Marina at the beginning of 2016. The current phase is slated for completion by early 2019.
Developer Secures $17M Tranche for Waterfront Miami Tower
Vertical construction of the 57-floor condo building is set to begin in the first quarter of 2018, with completion estimated for 2019.
Charlotte Teems With Demand Drivers
Employment growth made the city an attractive target for new and expanding businesses, while supporting long-term multifamily demand. Following last year’s cycle high in deliveries, some 6,800 units are slated for completion in 2017.
McDowell Acquires DC-Area Apartment Community
CBRE brokered the sale of Carmel Alexandria, a Class A apartment community in Alexandria, Va. The property is situated near interstates 395 and 495, with downtown Washington, D.C. only 10 minutes away.
Colliers Facilitates FL Affordable Housing Deal
Colliers Senior Vice President Kevin Morris and Senior Broker Associate Michael Lewin worked on behalf of 1031 exchange buyer Steve Schneider. Palm Lakes Trailer Park, a 120-unit mobile home property in Miami, traded for $6.3 million.
Tribune Media Unveils Chicago River District Master Plan
The redevelopment plan by the firm’s subsidiary Tribune Real Estate Holdings calls for the conversion of 37 acres of underused industrial land into a dynamic neighborhood that could accommodate 19,000 jobs and 5,900 residential units.
Unveiled: Wilmette’s First New Rental Property in a Decade
M&R Development and Globe Corp. developed the new Residences of Wilmette, in Wilmette, Ill. The community was built to achieve LEED Silver certification and is located within commuting distance to Chicago.
CityView Unveils Mural at OC Development
Located at the upcoming Baker Block apartment community, the mural, by artist and OBEY Clothing Founder Shepard Fairey, covers 8,000 square feet and is the largest of its kind in Orange County. The 240-unit community is scheduled for completion in November.
Marina Arts District Grows With $100M Development
Dubbed G8, the project will be one of the area’s largest multifamily communities. California Landmark Group’s development is located in a former Marina del Rey industrial zone and is scheduled for 2019 completion.
CalAtlantic Homes Opens Raleigh-Area Community
Silver Grove is a new townhome property in Cary, N.C., five miles from the Research Triangle Park. Pricing starts in the low $300,000s.