Luxury
Hutton Companies’ $30M Community Nears Completion
Hutton Companies announced that The Paseos at Magnolia Luxury Apartment Community, a $30 million community in Riverside, Calif., is near completion.
Construction Begins on New Luxury Residential Development in San Gabriel Valley
Construction has begun on the latest San Gabriel Valley mixed-use development. Hutton Companies recently announced that its new project, La Verne Village, has broken ground and is now set to meet its construction deadline, in Q1 of 2014. The developer is investing approximately $43 million into the luxury apartment community that will be located at 2855 Foothill Boulevard, along the Historic Route 66, in the city of La Verne. Ontario-based NAI Capital is currently handling retail leasing for the property.
Leasing Strong For N.J. Luxury Residential Development
St. George, a luxury rental apartment building comprised of 60 homes in Harrison, N.J., has leased 50 percent of its units in the first month of offerings.
Western National Property Management to Manage Hutton Company’s Calif. Community
Western National Property Management announced it has been selected to manage the Hutton Companies’ new community The Paseos at Magnolia, which is located in Riverside, Calif.
Mill Creek Residential Breaks Ground on Luxury N.J. Community
Mill Creek Residential Trust announced that it has broken ground on Phase I of Latitude, a luxury community in Morristown, N.J., as part of the redevelopment of Speedwell Avenue. This is the first residential development in four years in the area.
Amstar and Allied Realty to Break Ground on 332-Unit Luxury Apartment Project in Central Denver
Locally-based real estate investment manager, Amstar has partnered with Allied Orion Holdings, a Texas- and Colorado-based apartment developer, and recently announced it will start construction on a 332-unit apartment project in the Highlands/Jefferson Park neighborhood of Denver, Colorado. The project, dubbed 2785 Speer is scheduled to break ground this month and is expected to be completed in the spring of 2015.
Wood Partners Sells North Seattle Apartment Community for $29.4M
Wood Partners sold Jasper by Alta, a 91-unit luxury apartment community in Wedgwood, Wash., for $29.4 million to Jasper 91 LLC, which is associated with Calfox Inc.
Crescent to Build Scottsdale Quarter’s First Multifamily Project
Glimcher Realty Trust, a retail REIT, and Crescent Communities, a Charlotte-based real estate investment, development and operating company, recently announced plans to break ground on a 275-unit, luxury apartment community in Scottsdale under a joint venture agreement.
500 Lake Shore Drive Marks Related Midwest’s Chicago Rental Debut
Some of the headiest views in Chicago are now available to renters, with the debut this week of 500 Lake Shore Drive.
JV Breaks Ground on $39.5M N.D. Community, Banks on Oil Boom
In a joint venture, Braxton Development and The Sterling Group have broken ground on a $39.5 million luxury community in Williston, N.D. This area is currently a hot spot for development, thanks to the Bakken Shale Formation’s oil boom.