Residential

Location – it’s the buzzword of the real estate market. If developers find the right location to build, then it’s almost guaranteed that potential renters will come in droves. And that is precisely the strategy that AvalonBay has followed since it became a real estate investment trust in 1994. By building in high-barrier-to-entry markets, the company has reported revenues of $900 million.

A key role in one of southwest Michigan’s largest new residential developments is expected to be a catalyst for growth for an area homebuilder. Powell Construction Services LLC started work on Hideaway Cottages in 2010. The neighborhood is located within Harbor Shores, a 530-acre golf resort and residential community now under development in Benton Harbor, St. Joseph and Benton Township, Mich.

After four decades, Current Builders (CB) has gained expertise in multiple construction markets, including luxury developments. “We have a lot of experience building garden-style apartment projects,” Project Manager Staci Thirlwell says. “It’s our forte; Current Builders is very competitive in this market.”

Since its inception more than 25 years ago, Buckingham Companies says it has strived to create places that are a unique blend of architectural distinction, outstanding value and superior service. “As one of the most active owners and managers of multifamily and mixed-use property, Buckingham Companies is known for its dedication to creating value of properties through effective real estate development, construction and property management,” Buckingham states. “Whether it is a beautifully renovated area in the heart of an urban center or a vibrant mixed-use suburban development, a Buckingham property is always one that cultivates and celebrates … the art of living.”

As the owner, developer and construction manager, AvalonBay Communities Inc. believes it can deliver a higher level of quality on projects than competitors, Director of Construction Rick Borowski explains. “It makes a more symbiotic relationship between the owner and developer,” he states. “We’re aligned for all the same goals.”

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.

Patience and persistence in finding funding for a large apartment development near the University of North Carolina Charlotte is paying off for the project’s developer. Tampa-based Phillips Development & Realty broke ground in September 2011 on the $28 million Phillips Mallard Creek class A+ apartment community at 655 West Mallard Creek Church Road in Charlotte.

Once the mayor of the entire city of Atlanta, Sam Massell is now focusing on one booming section of the city. As president of the Buckhead Coalition, he is charged with helping to guide the development of this southern sub-city that the coalition describes as a “bustling business center . . . [with] serene and stable neighborhoods.” 

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