Residential

For residential developers, the city of Cambridge, Mass., presents great opportunities. As the home of Harvard University and the Massachusetts Institute of Technology, as well as a booming biotechnology industry, Cambridge enjoys a growing population and high employment rate, both of which helped it rebound quickly from the housing market crash of 2008.

With a population of more than 100,000 people and an average price of $476 per square foot and home value of $508,500 as of February 2013 and an occupancy rate of 99 percent according to real estate listing site Trulia.com, the market continues to thrive and grow. One of the city’s newest developers, Urban Spaces LLC, will continue to be a part of that positive growth.

Nestled in the picturesque Blue Ridge Mountains of western North Carolina, the latest development by Triangle Real Estate of Gastonia Inc. offers high-end one-, two- and three-bedroom apartments close to historic downtown Hendersonville, as well as easy access to all the recreational activities the mountains have to offer.

The project was organized and developed in two different phases. The first phase of the 18-acre Ballantyne Commons development contains 200 apartment units with open layouts and modern architectural features, such as vaulted ceilings, kitchens with granite countertops, sunrooms and garages available for rent.

Construction is underway in Boston’s burgeoning Innovation District on a new 20-story mixed-use project called Waterside Place. The contractor, Suffolk Construction Co., is building the project for The Drew Company, a Boston-based real estate development and management firm.

After considering several contractors for this project, The Drew Company felt Suffolk was the best choice, According to John E. Drew, president of the Drew Company, “Our selection of Suffolk was based on a number of factors, including the quality of their team, their attention to project detail and schedule and their ability to work with a complex site. We continue to be impressed with their work.”

Some businesses dried up in the wake of the economic recession, but Streetscape Partners has thrived, Vice President Howard Katz says. The McLean, Va.-based real estate and development firm specializes in residential projects in the Washington, D.C., area.

Katz co-founded Streetscape with Michael Schwalb and co-manging principals Ron D. Kaplan and Harris Schwalb in 2008. All four have extensive industry experience, Katz notes.

The garage door is one of the most prominent parts of a home’s exterior, even if it’s not necessarily the first feature that comes to mind for most homeowners. Although most people are mainly concerned with whether their garage door opens or closes, a poorly constructed or unattractive door could be a big problem when it comes to a home’s overall appearance or resistance to the elements.

Since 1944, Raynor Garage Doors has crafted both residential and commercial garage doors with long-term dependability, function and aesthetics in mind. The Dixon, Ill.-based manufacturer produces several lines of residential garage doors including its Distinction Series of custom wood or aluminum doors, the Innovations Series of steel polyurethane doors, the Traditions Series of steel polystyrene doors and the Advantage Series of steel pan garage doors. The company’s commercial product lines include sectional doors, rolling steel doors and fire doors.

Brothers Mathew and Michael Pestronk founded Post Brother Apartments in 2007, at a time when other companies in construction and development were feeling the market shift downward. The brothers firmly believed they could grow their apartment development company by going after underutilized markets and providing a product that did not exist in those areas before: high-end luxury apartments.

With the financial backing to acquire properties at the depressed market prices of the time, and a focus on quality and sustainability, Post started expanding its reach.

In December 2011, Joe Ryan, founder and president of property development firm Oppidan, took a trip that would open up great opportunities for his company in an area in serious need of development: the Bakken Shale Region in North Dakota.

“We had read a lot about the Bakken, so a couple of people in the office and I went out there and looked at what was happening in the area,” Ryan recalls. “We soon realized that there was a lot going on and, after doing thorough research, we realized that the growth in the area was there to stay and will become a significant part of our future as a country.”

The third phase of a major mixed-use development just outside of Washington, D.C., is underway. This January, general contractor KBR Building Group began  excavation and earth retention system work on The Acadia at Metropolitan Park in Arlington, Va., a 19-story residential and retail building.

When completed in August 2015, the 677,154-square-foot, $86 million Acadia will be the newest – and largest – component of the Metropolitan Park development. The development, owned by real estate firm Kettler and equity partner ING, is located in a former warehouse district in Arlington. The Metropolitan Park development is projected to ultimately house more than 5,000 residents in more than 3,000 units and offer a total of 100,000 square feet of retail space.

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