It's big—11 acres.
It's expensive—$500 million.
It's complicated—98,000 square feet of retail, 300,000 square feet of commercial space, and at least 600 units of housing.
But most of all, Justison Landing, under construction on the banks of the Christina River in Wilmington, Del., is a sign of the times.
“This is an exciting time for Wilmington,” says Rob Buccini, cofounder of developer Buccini/Pollin Group, whose roots are in the city. “Never before in the history of Delaware has so much construction taken place.”
Buccini is turning Wilmington's former shipbuilding area into a live/work/play environment that caters to young professionals, empty nesters, and a small percentage of families.
“Our project is within walking distance of 15 million square feet of office space,” Buccini adds.
Even though it's new, Buccini wanted Justison Landing to fit in. He hired Anton Germishuizen, director of the Philadelphia-based architecture firm Burt Hill, to design a project that melded into the area but still had its own personality.
Germishuizen says he accomplished this by borrowing from Wilmington's brick buildings, emphasizing the open space and waterfront, and using different looks for different buildings.
“We wanted to mix up the styles for more texture,” Germishuizen says. “We don't want it to look like the design was done by a single hand. There is a richness about it this way.”
The project broke ground last June, and the first phase is set for completion in late 2007, Buccini says, adding he sold 18 percent of the units during presales.
The Brauser Group is developing 100 West 18th Street, a 41-unit condominium community in East Chelsea, N.Y. The 10-story building, clad in iridescent black brick, will offer one- to four-bedroom units with white oak floors, stainless steel and glass range hoods in the kitchens, floor-to-ceiling limestone master bathrooms, and iPod docking stations in the master bedrooms. Amenities will include a landscaped roof deck with an outdoor shower and gas grill, club room with kitchenette, Zen garden, fitness center, and 24-hour concierge service. Occupancy is scheduled for January 2008.
Parkmore Development is developing Mill Harbor Waterview Residences, a 208-unit garden-style condominium community in Brooklyn, N.Y. The one-, two-, and three-bedroom units, which range from $400,000 to more than $700,000, will feature oak flooring, balconies, security systems, and prewiring for high-speed Internet. Amenities will include a 4,000-square-foot clubhouse with a fireplace, card room, library, fitness center, kitchen, and billiards room.
Gatehouse Capital Corp., HEI Hospitality, and Legacy Partners are developing W Hollywood Hotel and Residences in Los Angeles. The project will include a 305-room W Hotel, 143 condos, a health spa, and more than 50,000 square feet of retail space. The community, which is slated for completion in 2009, will sponsor local arts education programs and provide a space for emerging artists to showcase their work.
Woodridge Capital and Sports Club/LA have broke ground on The Carlyle, a 78-unit condominium community in the Golden Mile section of Wilshire Boulevard in Los Angeles. The Art Deco-style building will feature a card room, fitness center, library, wine cellar with private dining area, and a large outdoor terrace for entertaining. The project is expected to open in late 2008.
The Carlyle Group and H & H Development are building City Palms, a 10-story mixed-use development in West Palm Beach, Fla. The property will include 288 condo units equipped with “smart building” technology and 24,000 square feet of retail and commercial space. The units, priced from the $300,000s, range from 650 square feet to 1,500 square feet. The project is expected to open in 2008.
Legacy Partners and Galatyn Park Corp. have broken ground on The Venue, a 285-unit luxury apartment community with 6,000 square feet of retail space in Richardson, Texas. The units, which range from 634 square feet to 1,860 square feet, will rent for an average of $1,345. The community will feature a musical and theatrical theme to complement the adjacent Eisemann Center for Performing Arts. The theme will be reflected in all design elements, from the landscaping to the project's common areas and unit interiors.
Urban Housing Group and AIG Global Real Estate are building 555 Mission Rock, a $90 million mixed-use project in San Francisco with 192 units and 10,000 square feet of retail space. The one- and two-bedroom units will feature broadband wiring, granite countertops, washers and dryers, and nine-foot ceilings. Amenities will include a 3,000-square-foot community building and a landscaped courtyard with a fireplace and sundeck. The project is expected to be completed in spring 2009.
Better Housing Coalition has opened Carter Wood II, the second phase of an affordable senior rental community in Richmond, Va. The 71-unit complex was built to meet the environmental guidelines of the EarthCraft House program. Green features include recyclable carpet in the common areas, a supply of fresh air to each unit, and a water-efficient landscape. Enterprise Community Partners provided a $50,000 Green Communities grant to help the project integrate green building strategies.
Dornoch Rahway is revitalizing four center city projects valued at approximately $200 million in Rahway, N.J. Projects include The Savoy at Rahway, a 36-unit luxury condominium community that will feature two-bedroom units ranging from 1,150 square feet to 2,000 square feet, underground parking, and street-level retail. Occupancy is scheduled for June. Across the street, the developer is building the Westbury, a mixed-use complex with 152 condo units to replace 11 obsolete buildings. The seven-story building will include a conference room, fitness center, and half-acre rooftop recreation area.
RMI Development is replacing a former hospital complex in Chicago's Lincoln Park neighborhood with Lincoln Park 2520, a luxury community with 312 condos and 13 town-homes. The developer will preserve a small chapel located in the site's interior. The one-, two-, and three-bedroom units range from $550,000 to $1 million. The units are expected to open at the end of 2009.
Diversified Investment Associates is developing The Marque at Heritage Hunt, a 200-unit luxury active adult rental community in Gainesville, Va. The one-, two-, and three-bedroom units will offer universal design features, dining areas with built-in china closets, gas fireplaces, and wet bars. Amenities will include a grand lobby, lounge, café, fitness center, nine-hole putting green, and salon. Corporate rentals also are available with three-, six-, and nine-month leases starting at $2,100 per month.
Simpson Housing Solutions has opened The Lofts at the Security Building, a 153-unit loft-style apartment complex in downtown Los Angeles' historic Old Bank District. The building, formerly a bank, retains many of its original design features such as marble floors and staircases, 12- to 13-foot ceilings, large windows, and the original bank vault. Units range from $1,221 to $4,200, with 20 percent set aside for moderate-income residents. Amenities will include a game room, media lounge, fitness center, and a WiFi hot spot lounge.
Sunrise Development Group is developing PURE, a 75-unit, 13-story condominium in Chicago's West Loop. The one- and two-bedroom units will feature green offerings such as bamboo flooring, radiant-heated floors, fluorescent lighting, and low-VOC paint. Units will also include floor-to-ceiling windows, granite countertops, stainless steel appliances, and European-style glass or wood cabinetry. Amenities will include the SKAI Lounge, complete with a wet bar, large-screen TVs, billiards table, fitness center, and a 4,000-square-foot sundeck.
Gale Belmar, a subsidiary of Mack-Cali Realty Corp., is developing Belmar Seaport Village, a $500 million mixed-use redevelopment initiative in Belmar, N.J. Phase one includes 800 Main Street, which will feature 38 condos and townhomes, 9,500 square feet of retail space, and 67 covered parking spaces. The site replaces the former Seacoast Chevrolet building. The redevelopment effort features sustainable design principles such as reducing automobile dependence and decreasing stormwater run-off and the use of limited natural resources.
—Listings compiled by Rachel Z. Azoff
