Development
Post Properties Commences Apartment Projects in Orlando and Raleigh
Post Properties Inc. has kicked off development of Post Lake at Baldwin Park, Phase III in Orlando and Post Parkside at Wade, Phase I in Raleigh, N.C., adding 802 units.
Ground Broken for Towson Green Townhouses near Baltimore
Towson, Md.–Bozzuto Homes has broken ground for Towson Green, a new sustainable townhome development in Baltimore County.
Work Commences on Groundbreaking Green Affordable Housing Project in Brooklyn
Brooklyn, N.Y.–Ground has broken on the first of a three-phase affordable housing project that will have the largest residential solar energy system in the state of New York.
WDG-Designed Mixed-Use Project Gets Green Light in Bethesda
Bethesda, Md.–The proposal for Woodmont Central, a 585,000 square-foot mixed-use project in Bethesda, Md.’s Woodmont Triangle neighborhood, has been approved.
Unique Plan for 211-Acre SoCal Mixed-Use Community
Brea, Calif.–Ground has broken on La Floresta Brea, a mixed-use residential community in Brea, Calif., designed to emerge as an open, multi-generational neighborhood.
When NIMBY Attacks
NIMBY opposition doesn’t always turn out against multifamily projects, but when it does, it typically puts a viable project on the defensive, which at the very least increases risk and costs. At worst, the project fails to receive political approvals. How you respond to the crisis will determine the project’s fate.
MacFarlane Buys SF Site for Apartment Tower
San Francisco–MacFarlane Partners has acquired a development site at 1844 Market Street in San Francisco on which it intends to build an eight-story multifamily residential building. According to the developer, which specializes in urban revitalization, the building will consist of 113 rental apartments–99 market-rate and 14 affordable units–along with 5,500 square feet of street-level retail and an underground garage with 81 parking spaces.
Upper West Side Property Shifts Gears to Rental
New York–The nine full-floor residences at 208 West 96th Street, developed by Manor Properties Group LLC, are no longer for sale. Instead, according to Manor Properties, the three-bedroom, three-bath units will be for rent, with the decision to go rental made in response to feedback during the initial marketing stages of the property’s sales campaign.
Woodfield Buys 32 Acres for 258-Unit Apartment Project in Suburban Charleston, S.C.
Mt. Pleasant, S.C.–Woodfield Investments LLC is well aware that there is a gap between supply and demand in the apartment market in Mt. Pleasant, S.C., a highly sought-after Charleston suburb, and the company has made a major move toward filling the void.
Yonkers IDA Completes Incentive Packages for Four Multifamily Properties
Yonkers, N.Y.–The Yonkers Industrial Development Agency (IDA) has closed on financial incentive deals for 10 residential and commercial projects in that city last year, including a number of affordable housing projects. All together, the residential projects are expected to create 282 new units of housing.