NEW ROCHELLE, N.Y. — The NDR Group has completed the $4 million rehabilitation of the MacLeay Apartments public housing community, located on Fifth Avenue in New Rochelle. NDR, formerly known as the New Rochelle Revitalization Corp., acquired the property from the state of New York in 1986 with the goal of privatizing the public housing community, while maintaining its status as affordable housing. Renovations to the three-building, 180-unit complex include a new parking plan, a reconfigured central plaza with site amenities, and the total renovation of all apartments, hallway and stairwells. It was also renamed Parkside Place. Layered financing for the project included a Community Block Grant, a Housing Development Action Grant, Mortgage Revenue Bonds and municipal bonds. NDR also provided financing for a community center that is primarily used as an after-school facility.
Multifamily
GALLUP, N.M. — Supportive Housing Coalition of New Mexico has developed Chuska Apartments, a green and affordable multifamily property in Gallup. Supported by Enterprise Rural and Native American Initiative, the property offers 30 fully subsidized, energy-efficient apartment homes. The units are available for families who earn 60 percent or less of the area median income. Community amenities include a community building, a playground, a community garden and a rock garden. The $8 million project was funded by low income housing tax credits and grants provided by Enterprise Green Communities, the Enterprise Support Housing initiative, city of Gallup, the state of New Mexico, the Annenberg Foundation, the New Mexico Mortgage Finance Authority and the U.S. Department of Housing and Urban Development. Santa Fe, N.M.-based Autotroph provided architectural services for the project.
SACRAMENTO, CALIF. — Hendricks & Partners has brokered the disposition and acquisition of Casa de Angelo, a 100-unit multifamily property in Sacramento. Located at 3151 Notre Dame, the property sold for $6.22 million. Steven Nelson and Al Inouye of Hendricks & Partners’ Sacramento office represented the undisclosed buyer in the transaction. The seller was also not disclosed.
LOS ANGELES — Earle Hyman of Marcus & Millichap’s Encino, Calif., office represented both parties in the sale and acquisition of The Chariton House Apartments in Los Angeles. The 21-unit apartment community sold for $2.8 million. Details of the seller and buyer were not released.
PEORIA, ILL. — Chicago-based Beacon Realty Capital has arranged $1.34 million in permanent FHA 202 fixed-rate debt for an apartment building in Peoria. The high leveraged, non-recourse loan includes a 35-year term, with a 35-year amortization schedule. Financing was arranged using Beacon’s correspondent FHA lender.
POMONA AND WHITTIER, CALIF. — W.E. O’Neil Construction Co. has broken ground for two campus projects in California. In Pomona, the company is constructing three three- and four-story residence halls for Cal Poly Pomona. Designed by Sasaki Architects, the 622-bed project will feature suites offering living areas, kitchenettes, bathrooms and private patios/balconies. At Rio Hondo Community College in Whittier, W.E. O’Neil Construction is renovating the campus’ Applied Technology complex, which includes four one-story building wings. The upgrades include seismic upgrades, construction of new restrooms, computer labs and classrooms, and new MEP systems for the Automotive Sciences wing.
GREENDALE, WIS. — An affiliate of Chicago-based Senior Lifestyle Corp., in a joint venture with an affiliate of Chicago-based Walton Street Capital, has acquired a senior housing community in Greendale. Situated on a 14-acre site, Harbour Village is located less than 10 miles from downtown Milwaukee. The three-building community houses 142 independent living apartments, 38 assisted living apartments and 52 memory care apartments. Amenities at the property include a fine-dining restaurant, fitness center, housekeeping, transportation, and on-site banking, salon, florist and dry-cleaning services. The acquisition price was not disclosed.
SWANSEA, ILL. — Swansea-based Holland Construction Services is building the Cambridge House of Swansea, a 103-unit supportive living facility for seniors in Swansea. The three-story property includes 87,461 square feet of space in three wings that surround a core area. Amenities at the property include an exercise room, television and library area, convenience shop, and kitchen. The $8.1 million project is currently underway.
BALTIMORE — Greater Baltimore AHC has received $30 million in financing for the renovation of its 301-unit MonteVerde, an affordable housing complex located in the Park Heights community of Baltimore. The funding, which was obtained from state bonds, housing tax credits and a conventional loan, will allow an upgrade to the kitchen and bath area of each apartment. Further renovations include a new complex entrance with added security features and new HVAC upgrades. The project is already underway, with Baltimore-based The Michael Group serving as general contractor with the help of the local architect Hord Coplan Macht.
NEW YORK CITY — Construction is advancing for Alexander Plaza, a 25-story residential tower located at 315 E. 46th St. on the east side of Midtown Manhattan, New York City. The building will contain 52 residences in a mix of one-, two and three-bedroom units. Designed by Sydness Architects, the building features a chevron shape incorporating a triangular entry plaza; front and back glass façades that fold vertically inward; and a three-story, v-shaped crown. Residences feature floor-to-ceiling windows, and more than 11-foot tall ceilings; the penthouse unit features a rooftop terrace screened by a glass curtain wall that rises one story in the center and three stories at both sides. The building also features underground garage parking, a fitness center, storage space and a residents' lounge off of the lobby. Alexander Plaza is being developed by Continental Finance Corp. Completion is scheduled for 2010.