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Coastal Long Branch, N.J. plans to revitalize much of its Atlantic Ocean shoreline by selecting the Applied Development Co. of Hoboken, N.J. to create two mixed-use projects which will serve as the keystone in a considerable redevelopment effort. Spurred by $11.2 million in financing from the state, Applied expects to begin construction this summer for Pier Village, a community of 440 upscale rentals and 100,000 square feet of shops rising on 16 acres between Melrose Terrace and Laird Street. Simultaneously, Applied expects to break ground for an additional 350 luxury residents and 5,000 square feet of retail space on 25 acres in the district's Beachfront North section between Madison Ave. and Marine Terrace. The combined $140 million project was awarded to Applied for its successful redevelopment track record in Hoboken, Jersey City, and New Brunswick. Pier Villages apartments will be housed on the upper three levels of several four-story brick buildings. The ground floors will be for shops and restaurants. The one- to three-bedroom apartments will range in size from 850 square feet to 1,400 square feet, with monthly rents anticipated from $900 to $1,800. Of the 350 units planned at the Beachfront North site, 130 will be rentals similar in size and rent to those at Pier Village. There will also be approximately 100 townhomes with 1,500 square feet to 2,500 square feet priced from $225,000 to more than $500,000, and 120 condominiums sized from 1,000 square feet to 2,000 square feet and priced from just under $200,000 to $400,000. At full build out in five years, the two new developments are expected to generate several million dollars in annual taxes to the city.

Alcott Manor Apartments originally began its service to the Grand Forks, N.D. community as a South Junior High School. The school was built in 1931 and was used as a school until the flood of 1997. MetroPlains Development LLC, located in St. Paul, Minn., purchased the building in 1998 with plans to create housing for seniors age 55 years and older. Substantial rehabilitation was completed in 1999. The architectural design of Alcott Manor addresses several conditions that were inherent within the existing building, conditions that presented a challenge to the successful conversion of a junior high school building into senior housing. Great care was taken to maintain the historic fabric of the building while providing residents with modern amenities. Apartment homes were created within the shell of the original gymnasium. These units are a unique loft-style including over 1,300 square feet, 15-foot high ceilings and one-and-a-half baths. Each apartment home has its own central heating and air conditioning system. The rehabilitation totals 31 affordable and 14 market rate apartment homes. Demolition of several newer portions of the building allowed for the creation of two new parking areas, an exterior garage building, and a new entrance with porte'-cochere' that serves the senior population well by providing additional security and convenience. A small area originally used as the boys' locker room allowed the former gymnasium to be converted to indoor heated parking spaces. Alcott Manor Apartments is located in the heart of a residential neighborhood. The building is an important landmark for the community and continues to be one of the most distinguished examples of depresssion-era architecture in Grand Forks. Alcott Manor is listed on the National Register of Historic Places. Garston Perennial Management Corp. is the local management company for Alcott Manor Apartments.

NAA member Towne Properties has opened its newest luxury apartment community, 226-unit Four Bridges Luxury Apartments, located in Liberty Township on Butler Warren Road. Unlike any other apartment community in the Greater Cincinnati area, Four Bridges Luxury Apartments offers not only spacious, well designed homes, but also access to an unparalleled array of amenities. Nestled along the first hole and fairway of the 18-hole Bob Cupp-designed golf course, Four Bridges Luxury Apartments is located in the heart of the country club. Enjoy one-floor living in one- and two-bedroom garden apartments or two-bedroom with den ranch-style apartments--on the golf course or nestled along lakes and ponds--with detached or direct access to garages. Residents of the apartment village become social members of Four Bridges Country Club providing access to a sports complex which includes three swimming pools, tennis courts, fitness center, sand volleyball and basketball courts, and a magnificent clubhouse with its elegant dining lounge and conference facilities.

NAA member Simpson Housing Solutions, LLC (SHS) announced it has entered into a joint venture with Los Angeles based Gilmore Associates to convert the 13-story Rowan Building, located at Fifth and Spring streets in downtown Los Angeles, into residential loft housing. The project calls for the creation of 209 loft apartments ranging from 450 square feet to 1,200 square feet over ground floor retail space, as well as an attached 600-car garage. Work at the site is expected to begin in the spring, with completion set for early 2002. Gilmore Associates acquired the building, constructed in 1911, for $7 million. In addition to providing tax credit equity, SHS worked closely with the Gilmore team to arrange $27.35 million in both tax-exempt and taxable bond financing issued through the City of LOs Angeles Community Redevelopment Agency and the State Department of Housing and Community Development to finance the necessary renovations. The partnership has also applied for historic tax credits on the project. Twenty percent of the units to be offered at the Rowan building will be set aside at below-market rents, Michael A. Costa, President of SHS, reported.

NAA member JPI began construction on Jefferson at Young Circle. Scheduled to open September, 2001, the 232-unit community will be located in the downtown area of the City of Hollywood, Fla., two blocks south of Hollywood Blvd. and two blocks west of US 1. The community is a product of a city-issued request for proposal (RFP) in which JPI was selected as the developer. JPI will construct a seven-story (145-unit) courtyard building. Adjacent to this structure will be a 6-level, 646 space parking garage. Connectors between the two structures will occur on all levels. This part of the development will be leased from the City of Hollywood under the items of an initial 49year lease with two 25-year options. JPI will also construct a five-story (54 units) and three-story (33 units) building surrounding a lavishly landscaped pool with jacuzzi and gazebo. Part of the ground level of the five-story will house the 4,000 square foot leasing/community center.

Named for Winston Churchill's legendary country residence, The Chartwel House is located in New York's Upper East Side. Located at 1760 Second Ave., this 33-story high rise was designed by architect H. Thomas O'Hara. As elegant as it is functional, its views of Central Park and Museum Mile are framed by Wausau Window and Wall Systems[R] pre-engineered Advantage Wausau 2250 series windows. Working closely with Wausau, general construction manager Plaza Construction and glazing contractor Ecker Window Co. Selected pre-engineered Advantage Wausau windows--designed especially for projects requiring high performance solutions, at a competitive price, on an accelerated delivery schedule. Although pre-engineered, Wausau still was able to create a custom color for Chartwell House's window frames. Now known as Chartwell Beige, the color will be available for future projects. Like its windows, Chartwell House combines form and function throughout its floors; while the mahogany and tapestry lined lobby will surround guests with old world elegance, its residents will have access to high speed Internet connections and satellite television--a perfect blend for the city's young professionals. Chartwell House is expected to be completed by Sept. 2001. Built as a joint venture partnership of Capitol Real Estate Ltd. and Fisher Brothers with Plaza Construction, the new landmark already has sold more than 105 of its 143 studio, two-bedroom and three-bedroom luxury condominiums.

Kohner Properties Inc. has begun renovation of the Vineyards at Butler Hill Road and Highway 55 in South St. Louis County. Formerly known as Brandy Station, the tree-lined 18-acre South County Community is undergoing a $2.5 million renovation, according to Jon M. Pyzyk, President of Kohner Properties Inc., the new owner. Kohner Properties Inc. is completely refurbishing all 428 apartment units, upgrading the building exteriors, adding extensive landscaping and other resident amenities. Renovation of the thirty-year-old property will include new kitchen cabinets, appliances, flooring and interior lighting, according to Steven Grzesik, Vice President of Construction for Kohner Properties Inc. Other work will include an extensive repositioning of the existing leasing center, new signage, exterior painting and landscaping. The project architect is Donna Boxx and Associates. Interior Design Consultant is Robert Payne Newton & Associates Inc. Mark Eagen Signs of Indianapolis is coordinating signage and graphics. Construction financing for the $12.5 million project was provided by Union Planters Bank.
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Publication:Units
Date:Jul 1, 2001
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