MERIT: Best Reuse of Land
A New Era: Island Square
After more than 50 years of no new development, downtown Mercer Island, Wash., was pulled into the 21st century by Island Square, a mixed-use complex with 235 luxury residential units and 40,000 square feet of retail and office space.
Cover28.jpgMERIT: Best Reuse of Land - Island SquareMichael Walmsley Built on 2.7 acres owned by a prominent local family, Island Square is the first step in realizing a land plan created in the 1970s. The land owner, along with the city of Mercer Island, charged Renton, Wash.-based SECO Development with the task of revitalizing the downtown core–a task full of challenges, thanks to the city's very restrictive zoning. (Only one other building on Mercer Island had more than 100 units.)
Designed by Seattle-based Mithun, the $35 million Island Square features four buildings with luxury residential units stacked on top of ground-floor retail and one office building. With 14 floor plans ranging from 550 square feet to 1,275 square feet, the complex appeals to both empty nesters and young families. The retail space is leased by local and national tenants.
–Jennifer Popovec
MERIT: Marketing and Advertising
Personal Touch: University Park at MIT
Forest City's University Park at MIT in Cambridge, Mass., is hip, edgy, and just plain cool. And you can sense that vibe without even stepping foot in the properties, thanks to the company's newly launched marketing campaign. Start with the Web site, www.universityparkliving.com, where you can take a tongue-and-cheek personality test to see which of the site's four distinct projects best fits your tastes.
Cover29.jpgMERIT: Marketing and Advertising - University Park at MITCourtesy MechanicaIt represents just one aspect of the creative, multi-part solution to the marketing challenge of University Park, a 27-acre, four-property site near the Massachusetts Institute of Technology. The problem? The developer needed a way to differentiate the four radically different buildings to maximize its leasing efforts through customized selling. So the Cleveland-based developer partnered with IDEO, a product design consulting company that specializes in conducting behavior-based observational research to develop insights into how people use products. (The company also uses IDEO for its marketing campaigns at several of its other urban properties).
Other personalization tools include the 555 Map, which shows restaurants, shops, and other hot spots located five blocks, five minutes, and five miles from the property. To build on the 555 Map, leasing offices offer a wall of free postcards for prospects, from a tip sheet on nearby groceries to a property photo that shows off their new digs.
–Rachel Z. Azoff
THE 2006 MFE AWARDS JUDGES
IN SEARCH OF EXCELLENCE: A handful of multifamily leaders and Multifamily Executive editors chose the 2006 award winners in July, during a day-long judging session in Washington, D.C., at the magazine's editorial offices. They were, from left to right: Daniel Ashtary, Torti Gallas & Partners; Julie Smith, Bozzuto Management Co.; Loretta Easton, Lane Investment and Development; Greg Bonifield, Woodfield Investments; David Cardwell, National Multi Housing Council; Rachel Azoff, Multifamily Executive; Les Shaver, Multifamily Executive; and Alison Rice, Multifamily Executive. (Not pictured: Boyce Thompson, Multifamily Executive)
Cover31.jpgTHE 2006 MFE AWARDS JUDGESInterested in submitting for next year's awards? Contact Rachel Azoff at razoff@hanleywood.com in March for entry information. Entry fees are generally due in May; awards submissions are due in late June.