For 60 years, the 0.62-acre site off a busy road in the Bronx was a Shell gas station. Soon it will house hundreds of people in a seven-story, 120,000-square-foot apartment building with a Staples store on the ground level.Woodmere, N.Y.-based Arker Cos. started construction on the$27 million affordable housing project last fall, after winning support from the New York State Brownfields Cleanup Program. When the gas station property was put up for sale, Arker saw the site's potential based on its location: It sits in a commercial district along a heavily traveled road with several five- and six-story apartment buildings nearby.
With the help of remediation attorneys, Arker sailed through the state approval process and won brownfield remediation credits. The project also received government financing through tax-exempt bonds and the sale of housing tax credits.
Called White Plains Courtyard, the building will have 100 apartments–six three-bedrooms, 44 two-bedrooms, 44 one-bedrooms, and six studios–when completed in early 2007. Monthly rents will start at $562 for households earning between $27,000 and $37,000 per year
While affordable housing is needed in the area, it wasn't easy to design. "The biggest challenge was designing a soundproof building and creating a façade that breaks the monotony of a long block," says Hugo Subotovsky of New York City-based Hugo Subotovsky AIA Architects.
He used techniques such as including orange and tan bricks to give the project character and provide a modern look that fits into the neighborhood. To help keep street noise down, Arker installed laminated glass.
The building's final design is important to Arker officials, who keep the projects they build. "We are very proud of the fact that if one were to stand on the street and look at any of our buildings, it would be impossible to discern the tenants and their income levels," says Sol Arker, a principal of the company. "That is why we think our buildings look so good."
–Erin Massey
Simpson Housing Solutions and Las Palmas Foundation broke ground on Gateway Family Communities, a 42-unit affordable rental property in downtown San Diego. The $15 million project, which replaces an auto wrecking yard and a four-unit apartment complex, will feature two- and three-bedroom units. Community amenities will include an underground parking garage, clubhouse, computer learning center, barbeque areas, and a tot lot. All units will be set aside for households earning a maximum of 60 percent of the area median income.
MetroRiverside, owned by MetroPacific Properties and the Nicholson Co., is building Fox Plaza, the first mixed-use project to be built in downtown Riverside, Calif. The $200 million project will include about 500 condos and live/work lofts; 65,000 square feet of retail space; and a 120-unit high-end hotel. Designed in Mission Revival style, Fox Plaza will accent the historical context of the area. The project is part of the city's revitalization plan for the downtown core.
Basile Builders is developing Verde Chelsea, a 13-story, 33-unit condominium community in Manhattan. The units, which range from 778 square feet to 1,908 square feet, will feature kitchens with red oak flooring, cherry cabinets, and por-celain and metal tile backsplashes. Bathrooms will boast limestone and marble walls with quartz countertops. The lobby will open to a Zen-style garden with Brazilian wood decks, black bamboo and Japanese red maple trees, and a cascading water wall. Unit prices start at $695,000.
Alliance Residential Co. is developing three luxury multifamily communities in the north and northwest sections of Las Vegas. Broadstone Montecito, Broadstone Mountain View, and Broadstone High Desert will include a total of 834 apartment homes. Each community will include a clubhouse, business center, conference center, and fitness center, plus a pool and spa. The company plans to invest $200 million in new developments and acquisitions over the next two to three years.
Cabi Developers is developing Capital at Brickell, a mixed-use community in Miami offering 864 condo units, plus office and retail space. The project features sky-level lofts which span 974 to 1,883 square feet and are evenly divided between the 46th and 50th floor of two towers. All loft residences will feature 18-foot ceilings, stainless steel kitchen appliance packages, and smart technology concierge panels. Community amenities will include a fitness center with yoga and aerobic areas, theater, party and card room, and a pool with private cabanas.
CMA Cos. is developing The Blue Rose, an $850 million, 39-story luxury condominium hotel in Orlando, Fla. The property features one-, two-, and three-bedroom units with prices starting in the low $300,000s. Amenities will include a 1,000-seat theater, five themed restaurants, spa, and conference center with 100,000 square feet of meeting space.
Grace Communities broke ground on 44 Monroe, a 202-unit condominium building in Phoenix. The 33-story high-rise, designed by Tucker Sadler Architects, will offer units ranging in size from 780 square feet to 4,800 square feet and priced from $480,000 to $3.2 million. Community amenities will include a fitness center, entertainment room, business center, and catering kitchen. The project's design was inspired by a painting called "Five Elements," which incorporates the five Chinese elements of nature: earth, wood, water, metal, and fire.
Hinton Properties, Formation Methods, and Euro American Advisors broke ground on The Capri, a 55-unit luxury condominium community in Birmingham, Ala. The two- and three-bedroom units–priced from the mid-$400,000s to more than $1.3 million–will offer views of the city skyline. Amenities will include a fitness facility, club room, pool, concierge service, and parking. Occupancy is expected by May 2007.
–Listings compiled by Rachel Z. Azoff