Spring Valley, N.Y.:
The newly-opened $18 million Spring Valley Senior Apartments offers 53 affordable rental units for seniors 55 years and older who earn 50 percent or less of Rockland County’s median income. The four-story building consists of 11,000 square feet of commercial space on the first level and three rental floors above. CPC Resources and Rockland Housing Action Coalition co-developed the building with financing provided through a combination of private and public funds, including low-income housing tax credits. The project also represents the first phase of an urban renewal plan that will help revitalize downtown Spring Valley.
Burleson, Texas:
The Burleson Transit-Oriented Development District is gaining another place to live with the start of construction for Encore at Asbury, a 200-unit apartment community from Encore Multi-Family, a subsidiary of Encore Enterprises. Construction of the three-story building is expected to be complete in early 2011 and will help provide housing for the fast-growing suburb, located 12 miles from Fort Worth, Texas. Designed by JHP Architecture, the building will include a clubhouse with a pool, fitness center, business center with Wi-Fi, coffee bar, and game room.
Riverdale, N.J.:
Developer Trammell Crow is moving forward with the construction of the 212-unit Alexan Riverdale luxury rental community, two four-story buildings on a 15-acre site. The first phase is expected to begin leasing in spring 2010. Impetus for the project came from the success of the company’s nearby Alexan CityView, the proximity to Route 23 providing access to Manhattan, and the overall strength of the New Jersey rental market. The building will include a 5,000-square-foot clubhouse with an outdoor pool, fitness center, spin room, teaching kitchen, and resident lounge. The units will offer high-end granite countertops, stainless steel Energy Star appliances, wood floors, islands and glass-tile backsplashes in kitchens, and balconies.
Charlotte, N.C.:
To better serve the growing student population at The University of North Carolina at Charlotte, Vestcor Communities is developing 131 student housing apartment units with a total of 386 beds at The Flats at Mallard Creek. The development, which is being constructed by an affiliate of CampusWorks, features two buildings, is within walking distance of the campus, and will include two- , three-, and four-bedroom units. The units feature walk-in closets, satellite TV, high-speed fiber optic Internet access, and energy-efficient appliances and fixtures. For relaxing, there’s a shared game room, indoor basketball court, state-of-the-art fitness center, and resort-style outdoor pool, deck, and grilling area. Construction began last fall and the property will open in August 2010.
