Cohoes

Work is getting under way on the Residences at Lexington, a 408-unit apartment complex that will be the largest in the city, said Ed Tremblay, the city director of community and economic development.

RBC Construction, a unit of RichBell Capital, is building the project on a 38-acre parcel off St. Agnes Highway near the border with Colonie. Tremblay said the $70 million project will be built in three phases over a five-year period.

"It's been under development for a long, long time," Tremblay said Wednesday. "It's the last big empty piece of land in Cohoes.

Previously, it was the site of the Waterbury Horse Farm, Tremblay added.

"The majority of the land will remain forever green," he added, with the construction concentrated in one area. Ravines run through the back part of the parcel.

RBC won't receive any property tax benefits, but will get sales tax and mortgage recording tax relief, both through the Cohoes Industrial Development Agency.

Originally, the plan included condominiums and town houses as well as apartments. But after the Great Recession, RBC decided to focus on apartments, Tremblay said.

Residences at Lexington is one of a number of apartment and condominium complexes completed or under development in Cohoes, which sits adjacent to the Mohawk and Hudson rivers.

Tremblay said plans are under way for an apartment complex adjacent to the Van Schaick Island Country Club, to be developed by Prime Properties.

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408-unit private apartment project largest in Cohoes

Attorneys for the Summit at Coates Run apartments have filed an administrative appeal of a zoning variance granted to another apartment development being planned near Ohio University's South Green.

On Oct. 9, in a filing in Athens County Common Pleas Court naming the city of Athens, its code director, and the Board of Zoning Appeals, Coates Run LLC attorney B. Lafe Metz requested the court reverse a variance granted in September for the construction of the River Gate apartment building.

The proposed $15 million, 3.5-story apartment building is slated to replace the building that now contains the New Life Assembly of God church at 10 S. Green Drive. That development is currently undergoing Title 41 city site planning review.

The variance in question was actually the second variance requested by River Gate developers, Homestead U, LLC, out of Columbus, who also own the nearby River Park (formerly Lakeview Apartments) and River's Edge student apartment complexes.

Homestead U originally requested a variance allowing a 4.5-story building, with 82 percent lot coverage, which refers to the footprint a building makes on its property site. Maximum lot coverage allowed by city code is 60 percent.

That variance was rejected. After redrawing plans, Homestead U brought the proposed building down to 3.5-stories, matching code requirements, and requested a variance for 77.5 percent lot coverage. That variance was granted by the Board of Zoning Appeals.

Both variance hearings were attended by Coates Run property manager Pam Wells, who objected to the variance requests each time, pointing to the Summit complex being required to satisfy code regulations that Homestead was seeking to skirt.

Metz, Coates Run's attorney, argued in the appeal of the zoning board's decision, that the board erred by inexplicably reversing course on standards it had set by rejecting the first request for variance.

For instance, Metz noted that while the zoning board found under the first variance request that the development faced "no hardship if city code is followed," after the decision on the second variance request was granted, the board found that "implementing the code would create a hardship."

"Without supporting evidence on the record to arrive at such a determination and without a change in the nature or physical characteristics of the subject property, (the Board of Zoning Appeals) arbitrarily and capriciously arrived at a determination that was entirely at odds with its determination in the first variance request," Metz wrote.

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Summit challenges recent River's Gate zoning decision

4021 Eighth Ave. Apartment Project. Rendering courtesy of HFF

Real estate and capital services provider HFF has secured $7.46 million in construction financing for a planned 36-unit apartment building in Hillcrest, being developed by San Diego-based Veritas Urban Properties.

The five-story project is planned for a 15,200-square-foot parcel at 4021 Eighth Ave., immediately northwest of Balboa Park, according to HFF. The debt placement team, led by HFFs Aldon Cole and Bryan Clark, secured the financing through a life insurance company lender.

The builder on the Hillcrest project is Murfey Construction Inc., with the apartments set for completion in early 2016. Veritas Urban Properties was founded in 2011 by brothers Russ and Scott Murfey and has recently developed other urban residential and mixed-used projects in San Diegos Point Loma and Crown Point neighborhoods.

HFF, also known as Holliday Fenoglio Fowler LP, is a division of Pittsburgh-based HFF Inc. (NYSE: HF) and has a regional office in San Diego.

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Hillcrest Apartment Project Gets $7.46 Million in Construction Financing

Tuesday, October 28, 2014, 11:40am

By Steve Adams

The Warren Group

A 38-story apartment building that will tower over the TD Garden is set to become a new landmark at the northern gateway to Boston.

The 503-unit Avalon North Station will become Boston's tallest rental complex and the highest-profile symbol to date of the North Station neighborhood's reinvention. It follows the more modest examples set in recent years by the nearby Victor and Avenir apartment complexes, which have added a 24-7 element to a neighborhood that rarely swarms with street life unless there's an event at the Garden.

Boston Mayor Martin Walsh said one of his goals is creating visually distinct gateways at the entrances to the city.

"We have to make them exciting, and that's what this project does," Walsh said at a groundbreaking ceremony Monday. "As you're coming [into the city], one of the first things you're going to see is this beautiful building."

Site work began in early fall on the $250-million Avalon North Station complex behind the Thomas P. O'Neill Federal Building on Causeway Street.

The complex will contain 4,000 square feet of retail space on the first two floors, and the site will contain a new walkway connecting Causeway Street to the Charles River.

Construction is expected to take three years, with the first units available in late 2016, said Scott Dale, senior vice president for AvalonBay Communities.

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New Landmark Starts To Rise At Bostons Northern Gateway

Tysons has it good these days. What was just a few years ago a distant, forgettable suburb with prohibitively wide streets that looked nothing like its urban neighbor to the east, now has the hope of a new comprehensive urban plan, a foursome of Metro stations on the way, and developers queuing up to build. The latest is AvalonBay, which paid the Penrose Group $13.3 million for just 2.64 acres of land on Westpark Drive and plans to start construction of a 354-unit apartment building next month. The new Avalon Park Crest, as it will be called, follows on the heels of Capital One's application to create a gridded street system and multi-phase development on 23 acres at the Tysons Metro stations. With construction already approved by the county and designed by the Lessard Group of Tysons, the units are expected to be occupied in early 2012. Arlington- based AvalonBay will build, own, and operate the apartment building. AvalonBay will not seek LEED certification, but will incorporate "numerous" green features.

The site is now within Park Crest development that currently includes condos, apartments and a Harris Teeter grocery store, and already includes the 558-unit Avalon Crescent. Despite being an aggressive investor with 171 buildings and more than 50,000 units to its name, this is the first new community AvalonBay has built in the mid-Atlantic since 2005, though it has been planning another new community in Wheaton.

The building will hold a 2-1/2 level underground parking garage, wifi lounge, "ample" bicycle storage, and two private one-quarter acre courtyards with a pool, and outdoor cooking.

McLean, Virginia real estate development news

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Construction Tysons Corner apartment building to start ...

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Work begins on HighlineII

Greenstone Corp. has started work on the Highline II building in Kendall Yards west of downtownSpokane.

At 1104 W. Summit Parkway, it will be similar to and directly east of the Highline Lofts, Greenstones first Kendall Yards retail-apartmentbuilding.

Like its predecessor building, Highline II will have 24 apartments on two upper floors that take up about 18,000 squarefeet.

The main level for retail or commercial use measures 9,000 squarefeet.

Construction is expected to cost $2.5million, with occupancy expected in summer 2015, said Greenstone commercial manager Adam

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Background and the latest updates

Greenstone Corp. has started work on the Highline II building in Kendall Yards west of downtownSpokane.

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The Dirt - Sun, 26 Oct 2014 PST

Well, I guess this is what I get for going on vacation for a week. Theres all kinds of new stuff happening:

THE ARC

The Arc Jacksonville is building a 97-unit apartment complex on 32 acres off Hodges Boulevard, just south of Beach Boulevard. Theyll be homes for adults with intellectual and developmental disabilities, said Judy Lanier, director of development. But its a new program, she said. The residents will live there, but then head elsewhere for jobs, programs, etc.

The community is designed to make them as independent as possible, she said.

The one- and two-bedroom units will be set up as duplexes and triplexes in 38 villas. Total cost is $21.7 million. Completion is expected fall 2015. Summit Contracting is building it.

LAKEVIEW

Lakeview Health, a private alcohol and drug rehab center, is undergoing a major expansion of its campus at 1900 Corporate Square Blvd., off Southside and Beach boulevards. Permits were issued for three new buildings: administration building, $5.5 million, 7,250 square feet; fitness center, $2,770,000, 10,300 square feet; conference center, $870,000, 3,250 square feet.

Haskell has the contract; completion is expected next year.

TRANSPORTATION

The building permit has been issued for the Northeast Florida Regional Transportation Management Center at 980 N. Jefferson St., just north of State Street. The 20,535-square-foot building will house both the Florida Department of Transportation and the North Florida Transportation Planning Organization. Charles Perry Partners has the $9.07 million project.

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Roger Bull's Sunday Notebook: Arc Jacksonville to build housing complex

Southern California developers plan to build a 60-unit student apartment complex on the west edge of GonzagaUniversity.

David Schneider, director of a development group based in San Clemente, said he and his partners plan to build a second student housing complex in the Spokane University District after the GU project is finished in summer2016.

Schneider said his company has done several off-campus projects, including construction near Michigan State University and near a California State Universitycampus.

Their project, called the Ruby Apartments, will go into an acre of land on the east side of Ruby Street northeast of

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Southern California developers plan to build a 60-unit student apartment complex on the west edge of GonzagaUniversity.

David Schneider, director of a development group based in San Clemente, said he and his partners plan to build a second student housing complex in the Spokane University District after the GU project is finished in summer2016.

Schneider said his company has done several off-campus projects, including construction near Michigan State University and near a California State Universitycampus.

Their project, called the Ruby Apartments, will go into an acre of land on the east side of Ruby Street northeast of the former CompUSA building. It adjoins one of Gonzagas parking lots and is a stones throw from the schools DussaultApartments.

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Apartment construction near Gonzaga set for spring - Fri, 24 Oct 2014 PST