Northeast
Unfinished Part of Sterling Pointe Development in N.J. Trades Hands
Somerset, N.J.–Sterling Properties has sold 80 home sites at its over-55 property in Somerset County to K. Hovnanian Homes, which will build out the final phase of construction.
Work Begins on Mixed Residential Project in Coveted N.H. Location
Manchester, N.H.–Construction of Legacy Park Manchester, a residential project encompassing multifamily and single-family housing in Manchester, N.H., has gotten underway.
Development Team Chosen for Biggest NYC Affordable Housing Project in 40 Years
New York–The Hunter’s Point development will encompass 5,000 new housing units–75 percent of which will be reserved for low-, moderate- and middle-income families.
MBTA Vote Paves the Way for Big TOD Project in Suburban Boston
Somerville, Mass.–MBTA’s recent vote in favor of a new Orange Line T station marks a big step forward for a massive mixed-use, transit-oriented development in Somerville.
Demand Pushes Value Companies to Pick Up Development Pace
Middletown, N.Y.–Renters snatched up residences at Value Companies’ recently completed The Point at Sutton Hill in a hurry, prompting the company to commence construction of The Point’s next set of buildings way ahead of schedule.
Yonkers IDA Green-Lights Incentives for Modern Affordable Housing
Yonkers, NY–The Yonkers Industrial Development Agency has finalized a set of economic development incentives that will facilitate the construction of a seven-story, 77-unit affordable-housing apartment building in the city.
Eminent Domain Process Set to Begin in ‘Iron Triangle’
New York–The eminent-domain land seizure in Willets Point, N.Y., a spot known locally as the “Iron Triangle,” is set to begin next week, and not without controversy.
Prism Capital Gets Green Light for Adaptive Reuse Project
Bloomfield, N.J.–The site plan has been approved for the first phase of Prism Capital Partners’ multifamily adaptive reuse project that will occupy more than 20 acres in Bloomfield.
BCN Plans Condos for Brooklyn Law School Property
New York–BCN Development has inked a deal with Brooklyn Law School to acquire the school’s former residence hall and convert the Beaux-Arts style building into 24 two-bedroom condominiums.
Manhattan Apartment Tower Is Already Turning Heads
New York–Less than a week after the commencement of leasing, The Continental is creating quite a stir in Manhattan’s Sixth Avenue Corridor.