Northeast

at 75, 77 and 81 Linden St. and 80 and 84 Vanderbeck Pl. in Hackensack, N.J.
DevelopmentNew JerseyNewsNortheast

NAI James E. Hanson Brokers Land Sale for Redevelopment Project in Hackensack, New Jersey

by Channing Hamilton

HACKENSACK, N.J. — M&M Development acquired a redevelopment site in Hackensack from the estate of Donald Gonzalez in care of Michael Sprague Esq. Anthony Cassano of NAI James E. Hanson represented both the buyer and the seller in the transaction. The site comprises 30,800 square feet across five adjacent lots located at 75, 77 and 81 Linden St. as well as 80 and 84 Vanderbeck Pl. M&M Development plans to convert the property into a new community. The site is zoned for medium-density multifamily. A construction timeline was not disclosed.

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Rosewood Way Townhomes in Agawam, Massachusetts
DevelopmentFinanceMassachusettsNewsNortheast

MassHousing Provides $5.2 Million to Develop Rosewood Way Townhomes in Agawam, Massachusetts

by Channing Hamilton

AGAWAM, MASS. — Way Finders has secured $5.2 million in affordable housing financing from MassHousing to develop Rosewood Way Townhomes in Agawam. The project will offer 62 apartments across 10 townhome-style buildings. Units will come in one-, two- and three-bedroom floor plans. Eight units will be affordable to households earning at or below 30 percent of the area median income (AMI), 12 units to households earning up to 50 percent of AMI, 27 to households earning up to 60 percent of AMI, 10 will be workforce housing units for households …

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DevelopmentLeasing & MarketingNewsNortheastPennsylvania

EQT Exeter to Open The Clark in Philadelphia’s University City Neighborhood

by Channing Hamilton

PHILADELPHIA — EQT Exeter has completed development of The Clark, a six-story community in Philadelphia’s University City neighborhood. The Clark will open for residency in August 2023 and will be managed by Greystar. The building will offer 327 units in studio, one- and two- bedroom layouts. Amenities include a rooftop lounge with a grilling terrace, fitness center, co-working spaces with Wi-Fi connectivity and printers, a game lounge and a food delivery hub. The Clark is located in proximity to the University of Pennsylvania and Drexel University, as well as the Children’s …

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Affordable HousingDevelopmentMassachusettsNewsNortheast

Beacon Communities Break Ground on Pok Oi in Boston’s Chinatown Neighborhood

by Channing Hamilton

BOSTON — Beacon Communities and the Chinese Consolidated Benevolent Association of New England have broken ground on Pok Oi, an 85-unit affordable community in Boston’s Chinatown neighborhood. Pok Oi will offer one-, two- and three bedroom units. The project is financed in part through the Low-Income Housing Tax Credit program. Income restrictions for the complex were not disclosed.

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The Place at Catherine Way in Manchester, Connecticut
ConnecticutInvestment SalesNewsNortheast

IPA Brokers Sale of The Place at Catherine’s Way in Manchester, Connecticut

by Channing Hamilton

MANCHESTER, CONN. — Afton Properties acquired The Place at Catherine’s Way, a 303-unit community in the Hartford, Connecticut suburb of Manchester, from Beachwold Residential for an undisclosed price. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller in the transaction. Built between 1998 and 1999, The Place at Catherine’s Way comprises 13 buildings. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, sauna, steam room, fitness center, tennis courts and movie theater.

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Dutch House in New York City
FinanceNew YorkNewsNortheast

Slate Property Group Secures $85 Million Refinancing for Dutch House in New York City Suburb

by Channing Hamilton

NEW YORK CITY — Slate Property Group has secured an $85 million refinancing for Dutch House, a mixed-use development in the New York City neighborhood of Long Island City. PCCP is the lender for the financing package. Developed by Slate Property Group and Avenue Realty Capital in 2022, Dutch House offers 186 rental units, as well as 21,000 square feet of ground-floor retail space. Units come in studio, one- and two-bedroom layouts. Amenities include a lobby with concierge service, a modern fitness center, bike storage, recreation room with a pool table …

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The unnamed redevelopment of the Landers, Frary & Clark plant in New Britain, Connecticut
Affordable HousingConnecticutDevelopmentFinanceNewsNortheast

WinnDevelopment Breaks Ground on $85 Million Adaptive Reuse Project in New Britain, Connecticut

by Channing Hamilton

NEW BRITAIN, CONN. — WinnDevelopment has broken ground on a $85 million project to convert a historic manufacturing complex in New Britain into a 154-unit community. Keith Construction is the general contractor. JCJ Architecture is the architect. Collective Design Associates and Langan Engineering and Environmental Services are providing engineering services. Bank of America provided a construction loan and more than half of the project’s funding through its investment in the low-income housing and historic tax credits generated by the development. The Connecticut Department of Housing provided $4 million in funding …

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DevelopmentNew YorkNewsNortheast

NRP Group, RPW Group Opens The Halden in White Plains, New York

by Channing Hamilton

WHITE PLAINS, N.Y. — The NRP Group and RPW Group have opened The Halden, a 303-unit community in White Plains. The Halden comprises three apartment buildings across a 70-acre site. The property is adjacent to a 620,000-square-foot office building that was previously the world headquarters of IBM. Units come in one-, two- and three-bedroom layouts and include features such as quartz countertops, backlit bathroom mirrors, plank flooring, stainless steel appliances and in-unit washers and dryers. Amenities include a gym, pool, bike storage room, children’s playroom, package concierge, co-working spaces and …

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4 Eden River Park in Whippany, N.J.
DevelopmentNew JerseyNewsNortheastOperations

Coldwell Banker Begins Pre-Leasing for 34 Eden River Park in Whippany, New Jersey

by Channing Hamilton

WHIPPANY, N.J. — Coldwell Banker Realty New Homes has begun pre-leasing efforts for 34 Eden River Park in Whippany, approximately 5.5 miles from downtown Morristown, New Jersey. 34 Eden River Park offers 81 apartments ranging from 690 to 1,500 square feet in size. Monthly rents range from $2,995 to $5,900. Amenities include a pool with a hot tub, an outdoor lounge, a fitness center, a business center, a pet wash and secure bike storage. The first move-ins at the community are expected in August 2023. 

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Revital Gadish, CFO/COO, Qira
Industry VoicesMidwestNortheastOperationsSoutheastTexasWestern

How Alternative Payment Systems Support White House ‘Renter’s Bill of Rights’

by Channing Hamilton

— By Brian Ball and Revital Gadish, co-CEOs, Qira — Much of the news about property technology (proptech) concerns the physical features of apartment buildings — for example, appliances such as smart thermostats that save energy and money, or keyless entry and monitoring systems that are more convenient and secure. However, proptech also addresses intangible concerns, such as the societal push to give more power to renters in their relationships with owners and managers. The sector is rethinking how renters pay security deposits and monthly rents in ways that support …

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