News
MacQuesten to Develop $110M Mixed-Use Property in NY
The firm’s plan is to build a 27-story property encompassing 282 residential units, 9,500 square feet of retail space and a four-story parking garage, with an option for an additional optional 50,000 square feet of office space. The project is part of the city of New Rochelle’s massive redevelopment plan.
Midtown Detroit Gets New Mixed-Income Community
Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.
HFO Sets Record With OR Sale
The $40.5 million sale establishes a new record as the largest dollar figure in history for a Springfield multifamily property transaction.
Shorenstein Nabs Manhattan Luxury Community for $57M
HFF brokered the sale and arranged $31 million in financing for the 54-unit, recently renovated apartment building located in Manhattan’s East Village neighborhood.
JV Brings Luxury Living to Jersey City
Hartz Mountain Industries and Panepinto Properties developed the LEED Silver-certified TOD, which includes 13 stories and 240 units. The community is already 40 percent leased.
Luxury Community Opens Doors in Charleston Area
Woodfield Investments is the owner of The Passage, a 240-unit asset in Summerville, S.C. CF Real Estate Services will manage the property.
Batson-Cook Breaks Ground on 180-Unit FL Student Housing Development
The $54 million project, developed by a joint venture including Kayne Anderson Real Estate Advisors, is expected to come online in the summer of 2018.
Overbuilding in Richmond?
Following several years of strong supply, the area’s multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.
RADCO Acquires 6th Tampa Community
Newly renamed Sunstone Palms, the 536-unit community will be the beneficiary of nearly $8 million worth of capital improvements.
Parcel Pending Launches Refrigerated, Outdoor Smart Lockers
The temperature-controlled storage spaces are cooled to 35-44 degrees Fahrenheit, while the outdoor lockers are designed for multifamily properties that lack indoor common space.