NEW YORK CITY — The grand opening has been held for Jackson Avenue Veteran Complex, an affordable housing community for formerly homeless veterans that is located in the Mott Haven neighborhood of the Bronx, New York City. The community consists of seven row houses containing a total of 21 units. The buildings will contain a mix of two- and three-bedroom units. In addition, residents will have access to social and educational services including job training and placement, legal assistance, educational assistance, financial counseling, and access to a wellness center and computer rooms. The project was developed by Inner City Development, which worked with ENPHRONT Veteran Services and the Community Preservation Corp.
VAIL VALLEY, COLO. — The Gates Residences has opened in Vail Valley. Located at the entrance of Beaver Creek Resort, the upscale condominium offers 49 luxury condos with two-, three- or four-bedroom residences ranging from 1,346 to 2,737 square feet. The condos feature alder wood stained millwork, granite countertops, alder wood mantels and granite-framed gas fireplaces. The community features a variety of services including housekeeping, laundry and dry cleaning, grocery delivery, mountain shuttle service, a private wine locker, après ski cheese and wine, ski tuning and waxing, warming racks for ski boots, ski lockers and boot dryers, and ski lesson arrangements. The project was developed by JMJ Development, a division of Dallas-based JMJ Holdings.
LOS ANGELES — Josh Cohen and Adrian Malin of Marcus & Millichap represented both parties in the disposition and acquisition of a 5-unit apartment building, which is located at 1536 W. 30th St. in Los Angeles. The property sold for $510,000 or $102,000 per unit. Built in 1912, the property features two- and three-bedroom apartments. The buyer and seller were not disclosed.
JOPPATOWNE, MD. — Tal Savariego of Meridian Capital Group’s New York City office has arranged a $10 million loan for an expansion of the 300-unit Harborside Apartments in Joppatowne. The expansion will accommodate the influx of workers expected to help with the nearby Aberdeen Proving Ground’s base realignment campaign. The loan comes with a 3-year, interest-only term. Harborside, the only multifamily property in Joppatowne, was built in the mid-1970s.
ANN ARBOR, MICH. — Locally based mortgage banking and loan advisory firm Commercial Mortgage Capital (CMC) has arranged $2.88 million in non-recourse financing for a 44-unit apartment community in Ann Arbor. The 10-year, 6.32 percent loan was funded through one of CMC’s correspondent lenders.
NEW YORK CITY — New York-based Newmark Knight Frank Construction Services has completed One Brooklyn Bridge Park, a $175 million residential redevelopment project in Brooklyn, New York City. Construction consisted of the conversion of a 1.1 million-square-foot distribution center located at 360 Furman St. into luxury condominiums. The building was first constructed in 1929 and was formerly owned by Jehovah’s Witnesses before being acquired by RAL Companies & Affiliates, the developer of the project, in 2004 for $205 million. Two additional floors were built on top of the previously 12-story building, and the interior was reconfigured to include 438 residences. The units range in size from 588 to approximately 10,000 square feet and include loft apartments, townhomes and penthouses. Many units feature terraces cabanas and fireplaces. Building amenities include a residents-only recreation facility, 7,000 square feet of landscaped gardens, an indoor virtual golf driving range, and on-site valet and concierge services. The project also includes 70,000 square feet of retail space and a 500-space parking garage. The project architect was Creative Design Associates. One Brooklyn Bridge Park is situated within an 85-acre waterfront park that is currently under construction in the borough’s Brooklyn Heights neighborhood. Once complete later this year, …
MATAWAN, N.J. — Iselin, N.J.-based American Properties Realty is advancing construction for The Preserve at Matawan a 157-unit residential condominium project located in Matawan. The project comprises seven three-story buildings and one two-story building that all contain two-bedroom units. There are three models, ranging from 1,446 to 1,635 square feet, and prices start at approximately $269,000. The Preserve at Matawan also abuts a 10-acre nature preserve. The project’s interior designer is Atlanta-based Design Environments Inc. Model residences have recently opened for prospective buyers and Phase I of the project is already 40 percent sold. The construction timetable was not released.
SANTA ANA, CALIF. — A private investor has acquired Evergreen Apartments, a 38-unit apartment property located in Santa Ana. The asset sold for $4.2 million. John Nguyen and David Beauchamp of Marcus & Millichap’s Newport Beach, Calif., office represented the undisclosed seller in the transaction. The property is located at 1601-1605 Evergreen.
TUCSON, ARIZ. — Alliant Capital LLC has arranged a $7.92 million loan for the refinance of La Jolla de Tucson, an affordable apartment community located in Tucson. The 223-unit La Jolla de Tucson was the final property to close as part of a three-property Tucson purchase transaction. This portion of the transaction closed on February 27, 2009, using an extended rate lock of 229 days. The loan has a 9-year term and a 30-year amortization. The borrower is Holualoa Arizona Inc., an international real estate investment firm.
FORT WORTH, TEXAS — Senior Quality Lifestyles Corp., a Dallas-based owner of non-profit retirement communities in Texas, has selected the project team for The Stayton at Museum Way, the company’s new senior housing project located in the Cultural District of Fort Worth. The project will be developed by Greystone Communities and built by Andres Construction. The project architect is CSD Architects, the landscape architect is Talley Associates and the interior designer is Studio Six 5. The Stayton at Museum Way will comprise 188 independent living units in a mix of one-, two- and three-bedroom residences. They will be located within three interconnected, 11-story towers. Amenities include fine and casual dining with view of downtown Fort Worth, outdoor terraces and dining spaces, local artwork within the buildings, a dog park and other resort-style amenities. The project will incorporate sustainable elements including native and drought-resistant landscaping, wood flooring made from rapidly renewable sources, and low-emitting carpets and paints. The construction timetable was not released.