Apartment Look

HARRISON, NY – A 421- unit luxury rental community is being built on the site of two former office buildings along the I-287 corridor once a mecca for businesses. The apartment building on Corporate Park Drive will have retail on the first floor and an in- building parking garage . Amenities will include a club room, fitness center, kid’s playroom, pet spa, bike lounge, craft room, co-working lounge and pool. The Carraway development is another example of an ongoing trend of repurposing vacant office buildings along Westchester’s Platinum Mile into residential and retail uses, including a fitness center on what was once the site of The Journal News building in Harrison and plans for a Wegmans supermarket on a former office building site on Corporate Park Drive . (For neighborhood news like this, sign up to get Patch’s daily newsletter, news alerts and updates.) Tuesday the developers, Toll Brothers Apartment Living , joined with officials from the Town of Harrison and Westcheste...

The largest apartment complex proposed in Placentia in years is expected to spark more interest in building housing in the city’s older industrial area ; the project has cleared the first hurdle for city approval. The Planning Commission recently approved the five-story, luxury apartment complex on 2.95 acres of Crowther Avenue where the Boys & Girls Club once was. The City Council will have a public hearing on the development agreement on Sept. 12. City leaders hope the 215-unit project, paired with the much anticipated Metrolink station , will be the catalyst in the revitalization of the Packing House District , which is 28 acres of predominately empty lots and old industrial buildings along the street. “This is the most significant development project that I can think of in the city’s history,” Placentia’s Director of Development Services Joe Lambert said. “We probably haven’t had a project with this number of units in the last 20 years.” The transit- oriented project pe...

CLOSE North Korea threat; Fatal Rehoboth Beach house fire ; Bruce Springsteen on Broadway 8/10/17 1303 Delaware Avenue was purchased by Capano Management . (Photo: Courtesy of Capano Management ) Capano Management continues to bolster its residential portfolio with the acquisition of 1303 Delaware Apartment Homes in Wilmington's fashionable Trolley Square neighborhood . A sales price was not disclosed. Capano financed the purchase with a fixed-rate loan from Fannie Mae.  The privately-held Wilmington-based developer's multifamily division, Capano Residential , purchased the 231- unit high rise from Merion Realty Partners , a Wynnewood, Pennsylvania, real estate investment firm . Jeffrey Shumaker, vice president responsible for Merion's multifamily division, declined to comment on the transaction. "That's not public information," Shumaker said of the sale.  Upon acquisition, Capano Residential , which is headed by Louis J. Capano, renamed the property Par...

Gebroe-Hammer Associates Coveted apartment  complex fetches $40M An apartment community in tony West Orange , NJ,  has been sold for $40.5 million. Gebroe- Hammer Associates brokered the sale of the 178- unit Crest Ridge Apartments complex . The team of Greg Pine and Adam Zweibel exclusively represented the original developer , Rockledge Realty, LLC, and procured the buyer, Sela Realty Investments , in the transaction. Located at 200 Mt. Pleasant Ave. at the base of an 80 ft. cliff, the 16-building, historically well- occupied complex posed an extremely rare acquisition opportunity within the Northern New Jersey metro. “Situated in the Town Center section of West Orange, Crest Ridge Apartments is at the heart of one of the most expensive, in- demand local neighborhoods as well as the transit- filled greater West Essex County submarket ,” said Pine. “In a township where apartment rentals make up only about one-third of the housing stock, Crest Ridge Apartments is a gem favored...

REDLANDS >> The developer of Circa 2020 hopes residents who like the apartment building will find even more to love about a new project, The Crossings at Redlands. The UCR Group, based in Redlands, will soon break ground on the 340- unit apartment complex on Lugonia Avenue next to the 304- unit Circa 2020 . Like its neighbor, The Crossings has been designed to appeal to young professionals looking for upscale apartment living . The success of Circa 2020 exceeded “our wildest dreams,” said Jim Mauge, president of the UCR development team . “It … created the opportunity to add the next one.” The gated complexes, located in an unincorporated area of San Bernardino County known as the donut hole, will ultimately be marketed together under the name Park West Redlands , Mauge said. The properties will maintain their own identities, however. The multimillion- dollar Crossings complex is expected to welcome its first residents in summer 2018. The community will offer upscale studio ...

A controversial North Baltimore apartment project cleared its final hurdle when Mayor Catherine Pugh ratified its designation as a planned unit development . Developer Blue Ocean can start work on the roughly $40 million Overlook at Roland Park. The Baltimore- based developer plans a six-story, 148- unit luxury apartment building on the wooded 12-acre parcel near the intersection of Falls Road and Northern Parkway in North Roland Park . The project faced significant opposition from some residents in North Roland Park concerned about increased traffic, despite receiving the support of two neighborhood associations. Blue Ocean has agreed to preserve more than half the site for forest conservation or green space. The project includes a parking garage, swimming pool, fitness center, media room and an indoor sports court . Blue Ocean President Jonathan Ehrenfeld said the project will be the area’s first new apartment community in several decades. A timeline for the start of constr...

A universally acknowledged truth about living in New York City is that there's very little space to go around. What passes for an entire apartment in Manhattan is considered a walk-in closet in Des Moines. This dearth of square footage has resulted in a couple notable phenomenons : Namely, pocket-emptying rents and some—let's just call it—creative uses of space. I recently glimpsed one particularly unusual vision of our inevitable micro-living future. Twenty floors up in a luxury midtown Manhattan studio apartment , a hulking piece of furniture sat pressed against the wall. From the front it looked like an entertainment console with built in shelving. From the side, it appeared to be a regular bookshelf, save for a small button. At nine feet tall, five feet wide and seven feet long, the thing took up nearly a fourth of the apartment's main living area , leaving just enough space for what could either be a livingroom or bedroom, but definitely not both. "This is Ori,...

Mizner 200 will be one of the largest construction projects in Boca Raton's downtown, offering three nine- story apartment buildings across 9 acres. There will be 384 new apartments and garages with 672 parking spaces. You’ll also see an overhauled stretch of Southeast Mizner Boulevard — inundated with new canopy trees, park space and benches along an 8-foot-wide, paver-laden sidewalk. It’s too early to say when construction will begin. But Mizner 200, at 200 SE Mizner Blvd ., will give the area a much-needed face-lift, some residents say. It’s the latest high- rise project coming to downtown Boca, among the fastest rising in Palm Beach County . “It’s an amazing project and one that I think Boca can stand behind in a very proud fashion,” said Marisela Catilla, a resident of Royal Palm Place just across the street. The city, which this week approved the project, said it’s a product of cooperation between Mizner 200’s developer, Coral Springs-based El- ad National Properties , a...

CLOSE Perched on the south end of Irondequoit Bay, Waters Edge at Southpoint Cove, 1100 Anchor Line Dr . off Empire Boulevard, is in Penfield. (June 29, 2016) Video by Mary Chao. Video by Mary Chao. Buy Photo Waters Edge at Southpoint Cove is in Penfield off Empire Boulevard. (Photo: TINA MACINTYRE-YEE/@tyee23/staff photographer) Buy Photo The developer of the region's latest waterfront housing development is altering its plans. Instead of a combination of apartments and condominium units for sale, Waters Edge at Southpoint Cove at 1100 Anchor Line Dr . off Empire Boulevard in Penfield will be built only as apartments, said David Spoleta, who works for Morgan Community. Buy Photo   (Photo: TINA MACINTYRE-YEE /@tyee23/staff photographer) Apartment rentals has exceeded expectations, with 137 of the 157 units already leased since they became available last summer, said Spoleta, manager at Waters Edge. A decision was made to change plans for the building of 26 condominium units into ...

When it comes to condominium development , Cascadia’s two largest cities couldn ’t be more different. Last year nearly 60 percent of new housing starts in the city of Vancouver, BC , were condominiums; meanwhile, Seattle saw no new condominium buildings open . And that’s not changing anytime soon: less than 10 percent of all building slated for downtown Seattle in the next three years will be condos. What’s the difference—why the blossoming of condominium construction in one city and the almost complete dearth in the other? The short answer is economics. In Vancouver, apartments are saddled with an unfavorable tax code , making condos the more lucrative multi- family housing investment even despite high rental demand . In Seattle’s skyrocketing rental market , one that’s climbed even faster than the condo market in recent years, apartment buildings are much more financially attractive, while condos come with bigger risks and, typically, lower returns. Compounding this profit differe...