Mill Creek Residential Trust

The latest in a long line of successful apartment developments spearheaded by Mill Creek Residential Trust is expected to open its doors this year. Leasing is under way on the Concord Mews complex, a development of 350 luxury apartments and townhomes in Concord, Mass., with tenants anticipated to move in within the next few months.

Concord Mews consists of 308 three-story garden flats and 42 two-story townhomes, as well as a leasing center and a 6,000-square-foot clubhouse. The clubhouse includes a lounge featuring billiards, shuffleboard, a video gaming room, fireplace and fitness center, as well as an outdoor entertaining area with a fire pit and resort-style pool.

“Situated on approximately 30 acres overlooking the Assabet River, The Mews’ lush landscaping will provide year-round enjoyment for residents and an inviting welcome to visitors and guests,” says Mill Creek Residential Trust, the site’s developer and owner. “The grounds will incorporate a number of open green spaces, bocce ball court, outdoor terraced grill areas, dog play area and children’s playgrounds. Large shade trees and evergreens will blend with the open spaces, complementing the existing woodlands to create intimate outdoor social areas.”

Interior finishes include granite countertops, wood flooring and other upscale features. “Concord Mews is a fresh concept in apartment living, combining extremely high-end finishes with a smorgasbord of resort-style amenities and services,” the company adds. “Residents of Concord Mews will enjoy being part of an environmentally responsible community in one of the region's finest rental homes.”

Mill Creek served as construction manager on the project, working with a number of experienced and qualified subcontractors including Protecall, a New Jersey-based provider of sustainable building solutions. Protecall treated the wooden frames of all 350 units in Concord Mews with FortiCel™, a coating product that prevents mold growth. 

Under Development

Concord Mews joins several other communities now under development by Mill Creek. “We believe in creating apartment homes that complement and enhance the local communities in which we live and work, and which create a long-lasting legacy for future generations,” the company says.

The company’s other major developments include:

• Metro 303 – This 2-acre development is located in Nassau County, N.Y., on Long Island. Construction is under way on the development, which includes 166 apartments in a 5-story podium building that includes two levels of parking. The development will include 5,000 square feet of amenities, including an outdoor pool, fitness area and landscaped courtyards. Metro 303 is within walking distance of two Long Island Rail Road stations, giving it easy access to the center of New York City.

• West Hempstead Station - This 2.7-acre, 150-unit, 4-story infill development site in Hempstead, N.Y., is on Long Island, as well. Units feature 9-foot-high ceilings, kitchens featuring upscale finishes including granite countertops and stainless steel appliances, large walk-in closets and a state-of-the-art telecommunications infrastructure. Construction will conclude in fall 2012.

• Savier Street Flats – This development is in a northwest neighborhood of Portland, Ore. “Residents will be drawn to walkable streets complimented by historic buildings and a wide variety of restaurants, brewpubs, coffee shops, retail boutiques and parks,” the company says. The community features 179 units in two four-story buildings, and will offer mostly studio and one-bedroom apartments. Completion is anticipated in early 2013.

Swift Growth

Established in 2010, Mill Creek Residential Trust develops, acquires and builds multifamily apartment developments. The company offers a fresh name and outlook as well as decades of multifamily development and construction experience brought by its founders, a team of former Trammel Crow Residential executives.

“Our team of multifamily experts offers a renowned level of experience, confidence, integrity and reliability along with a fresh outlook and strategic new ideas for the future,” the company says. “Together, we have participated in development of over 225,000 apartment units in over three decades of service, executed over $12 billion in transactions since 1993, and have a proven ability to identify and optimally address market conditions.“

The company broke ground on 3,100 units in 2011, with more than 5,000 targeted in 2012. Mill Creek operates in major geographic markets including the Northeast and West Coast. 

“Mill Creek Residential targets core market areas that have been historically profitable in development, construction, and acquisition endeavors and demonstrate above-average population growth, strong employment characteristics, and consistent and sizable institutional investment demand,” it adds. “Our team boasts a proven strategy and platform that has historically delivered strong returns to investors.”

A Team Approach

Mill Creek Residential Trust’s team of construction executives has experience in many different types of multifamily construction including high-density residential and mixed-use communities. Construction executives are based in all regions in which the company works.

“We support our construction teams via an array of services throughout the development process and they are an invaluable resource during due diligence, concept analysis, pre-construction, and project design,” the company adds. “Our construction executives focus on promoting teamwork, communication, attention to detail, integrity, and the highest level of quality construction. Our quality control systems include strict guidelines for budget management, cost control, safety, and communication.

“We recognize, embrace, and apply the best management practices and standards of care necessary to protect and preserve the environments around us and strive to incorporate green building practices wherever possible.”

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