CAMDEN, NJ – ​Camden Mayor Frank Moran, State Senator Nilsa Cruz-Perez (D-Camden) and Camden County Freeholder Jeffrey Nash were among the community leaders who celebrated the start of 11 Cooper Apartments at a groundbreaking ceremony hosted by CP. The $48 million residential development will bring 156 new rental homes to the Camden waterfront in an environmentally conscious, amenity-rich mid-rise building.

The first newly constructed market-rate apartment building to be developed on Camden’s waterfront in 15 years, 11 Cooper will offer both market-rate and affordable apartment homes to new families and young professionals looking to join the city’s growing workforce.

“Ten years ago – even five years ago – nearly no one believed in Camden’s potential, and now look where we are today,” Mayor Frank Moran said. “The city has seen a remarkable turnaround – from a dramatic drop in crime to historic gains in our schools, to billions of dollars in new investment, including today’s announcement. Together, we are making Camden a real destination to live, work and play.”

CP Residential, which owns 11 Cooper, is a partnership between three companies: The Michaels Organization, NFI, and Conner Strong & Buckelew. The same three firms have announced they will be moving their headquarter offices to the Camden Waterfront in an office tower that is currently under construction just steps away from the 11 Cooper apartment community.

“Residents of 11 Cooper will delight in waterfront living in perfectly designed, contemporary apartments and they will be at the center of the urban renaissance that is happening right now in Camden,” said John J. O’Donnell, president of The Michaels Organization, 11 Cooper’s managing partner.

“Our residents will have fantastic access to transportation, entertainment, shopping, and the employment and educational opportunities of Camden’s renowned ‘Eds and Meds’ community. We could not be more proud to be part of Camden’s revival,” O’Donnell said.

“We couldn’t be more excited to see the end result,” said Timothy J. Lizura, president and COO of the New Jersey Economic Development Authority. “Together, 11 Cooper and the many other waterfront developments will provide the kind of economic boost that Camden has been awaiting.”

“With Philadelphia’s rising taxes and cost of living, Camden is looking increasingly attractive to young people – with the potential to become a new Hoboken,” said Senator Cruz-Perez. “We’ve made incredible progress over the past few years, and these new homes make room for a new generation to come and lay down roots.”

“The investment of private capital is critical to Camden’s future because it helps make jobs for city residents and newcomers alike,” said Freeholder Nash. “These new market-rate apartments are a major step forward in Camden’s progress and a clear sign its future is brighter than it has been in decades.”

It’s a future that M&T Bank, the sole lender for the project, has worked to be part of. “The progress being made in Camden is truly something to marvel at,” said Regional President for the Philadelphia and South Jersey region for M&T Bank Ira Brown. “At M&T Bank, we are committed to being a dynamic partner to those bettering the very communities we serve. It is a pleasure to see these plans come to fruition through the cooperation of invested partners.”

M&T Bank’s Commercial Real Estate Team provided CP Residential a total financing solution for the project of $48 million which encompassed construction financing, a tax credit bridge loan facility and a commitment by the bank to buy the tax credits. The transaction was led by M&T Bank Senior Relationship Manager Michael Di Santo. 

“At M&T Bank, we recognize the potential and future the Camden Waterfront holds for the South Jersey community,” said Di Santo. “As such, the bank has been committed to supporting this project and its sponsors, and we are thrilled to see it come to fruition to further Camden’s renaissance.”  

11 Cooper will offer 156 modern apartments, in a mix of studios, one- and two-bedroom layouts, in the heart of the city’s booming waterfront district adjacent to The Ben Franklin Bridge. Twenty percent of the apartments will be designated as affordable for those earning 80 percent or less of the area’s median income. 11 Cooper will incorporate the latest green technology, high-end building materials and energy efficiency.

Plotted amenities include a residential lobby with 24/7 concierge services, a business center, bike storage, a fitness center and club room with adjacent roof-top terrace. On-site parking will accommodate more than 190 cars. The spacious apartments will feature stainless steel appliances, quartz countertops, and spa-inspired bathrooms. Each residence will have its own in- unit washer and dryer. In addition, 11 Cooper will offer 5,000 square feet of street-level retail space, fronting Cooper Street.

The CP Residential team also includes Torcon as general contractor, JKRP Architects and Pennoni Engineers.

The apartment community will start lease-up in October 2018, with final delivery expected in Spring 2019.

Powered by WPeMatico

COLUMBIA, SC – The partnership team of Watercrest Senior Living Group, and Titan Development Real Estate Fund I gathered with city officials, development, construction, and design partners to celebrate the ceremonial groundbreaking of Watercrest Columbia Helped Living and Memory Care in Columbia, SC. The 107-unit, resort-style senior living community is under construction by Shiel Sexton Company and scheduled to welcome residents in late Spring 2019.

Watercrest Columbia will be a signature Watercrest product offering 75 helped living and 32 memory care apartments with premium accommodations, exceptional amenities and world-class care.  Designed by LifeBUILT Architecture, Watercrest Columbia will include a stunning promenade, pool, fireplace, signature water wall, multiple dining venues, children’s play space, grand balconies and Southern style outdoor living spaces. Watercrest’s uniquely designed Market Street Plaza, will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.  

“Our Watercrest mission ‘to welcome, to care, to serve’ aligns with the culture and traditions of the historically established community of Columbia.  We revere the importance of upholding family values, honoring our elders, and partnering within the community for growth and development,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “As Watercrest continues to expand, we are honored to provide the families and seniors in this community with exceptional amenities, innovative training, and world-class care.”

Watercrest Senior Living prides itself on providing outstanding caregivers and extraordinary care, all tailored to individual resident preferences.  Their comprehensive memory care program is specifically designed to engage the senses, expand the mind, and enhance the emotions of residents. All Watercrest memory care associates are Nationally Certified Dementia Care Specialists and programming focuses on innovative lifestyle approaches, including Personal Life Silhouettes, multi-sensory enhancements, Memories in the Making, and music and memory programs. 

At Watercrest Columbia, residents will delight in pampering in elegant Spa W, savor private mark Watercrest wines at the wine bistro, and relish the flavors of locally grown, seasonal ingredients and organic fare whether dining outdoors, bistro-style, or in the chef’s private dining room.

Ideally located at 1951 Clemson Road in Columbia, the capital city of South Carolina offers residents an abundance of vibrant entertainment and dining venues, and a culturally rich heritage complete with historic sites and architectural beauty.

Powered by WPeMatico

LOS ANGELES, CA – With 10,000 people a day turning 65 through 2030, this demographic points to the age-qualified space as the largest emerging market for new housing, says Manny Gonzalez, FAIA, LEED AP, managing principal of international award-winning KTGY Architecture + Plotting. 

According to Gonzalez, “The choice-making process is much different between the active adult and the millennial. The active adult has owned a home before and knows what they want in what might be their final buy. The millennial on the other hand knows that they can always reboot with their housing choice, and probably will.” 

Despite the fact that the vast majority of the wealth in the US is controlled by those 55 and over, boomers are still cautious with their spending. “This cohort doesn’t want to pay for add-ons they really don’t want or need. We are seeing that some apartment communities and helped living environments are offering a menu of amenities and you just pay for the ones you use,” Gonzalez noted. 

For the better part of this decade, it has been the millennials who have been driving the apartment industry but the baby boomers are starting to make an impact and both age groups want nearly the same thing. “Unlike older generations of the past, who traditionally have stayed in their home until they went into an helped-care facility, baby boomers are renting apartment homes for many of the same reasons as millennials. They both want the same type of walkable, amenity-rich, transit-oriented locations that include proximity to retail, dining and entertainment,” noted Gonzalez. “They also want a connection to the outdoors and the space to entertain.” 

Mixed-use living environments have become well loved with both demographic groups. “Not only is the retail a fantastic amenity to the residents, but retail landlords are finding that they can bring more customers to their shopping center by adding residential, often replacing vacant huge-box or department store spaces,” said Gonzalez. “We are designing both horizontal mixed-use, where the retail and amenities are adjacent the 55+ residential living, as well as vertical mixed-use, where the residential is built over the retail.” 

Beyond location amenities outside of the community, there are also similarities in what these two demographics want within their rental community. “They both have pets, so ‘bark parks’ and a ‘laundra-mut’ are a must,” said Gonzalez. “Cool social gathering places are also a necessity. And, while it seems like health clubs are overrun with millennials working out, according to James Chung of Reach Advisors, 75 percent of boomers say they are keeping an active lifestyle to stay healthy, which he goes on to say is a higher rate than younger generations. The one amenity they seem to differ on though is the theater. While a theater was found in nearly every market rate apartment community in the ‘90s and even later, 

the millennials stream their entertainment. The older generations grew up going to the theater to see movies. I even remember going to single-screen cinemas. So, the theater room still seems to be a well loved spot in age-qualified apartments.” 

Incorporating right Universal Design is critical for attracting new residents and for allowing existing residents to remain in their home as their lifestyle needs change, Gonzalez says. “To borrow a quote from Mary Jo Peterson, the country’s leading expert in the field, ‘If Universal Design is done well, you won’t notice it until you benefit from using it.’ Boomers want a living environment that can flex and adapt to their changing needs and allow them to stay in their home as long as they desire.” 

One of the best examples, Gonzalez cites, is the Kohler’s Choreograph Collection of grab bars. “Kohler offers attractive accessories you can incorporate like soap dishes and bottle holders. They are perfectly designed and don’t have the institutional look of an ADA grab bar, but if you need it, they can support up to 300 pounds of pressure,” Gonzalez noted. “My other favorite is the hallway outlet that’s paired with a light switch. It’s the perfect height to plug in a nightlight to hide the plug, but it also allows the resident not to have to bend over every time he or she plugs in the vacuum. And, the fantastic thing is that you don’t notice the Kohler grab bar or the plug until you benefit from using them,” said Gonzalez. 

Other Universal design considerations Gonzalez mentions include doorways that are at least 36 inches wide, and hallways that are at least 42 inches wide, allow for the simple movement of large pieces of furniture or appliances. They also improve the home’s traffic flow by providing lots of room for occupants to go in, out and around easily. Multi-level kitchen countertops with open space underneath allow the cook can work while seated. This proves that even everyday tasks like cooking can be more pleasant when they’re performed from a seated position. This is also right in the bathroom. 

“With the high percentage of one-bedroom units in the senior living space, there are a lot of very attractive opportunities for repurposing buildings like hotels and hospitals for active adult rental and Helped Living and Memory Care communities,” Gonzalez said. “The largest challenge comes when the existing building is a hospital that looks like one. No senior resident wants to go into an institution and no adult child wants to go their parent into one either. But these older buildings that are being repurposed are often in locations that provide the shopping and entertainment amenities residents are looking for.” 

A frequent speaker at national conferences about 55+ design, Gonzalez will be a speaker at Urban Land Institute’s Spring Meeting at the Cobo Center in Detroit, Michigan. Gonzalez was invited to be a panelist at the session, “Skating to Where the Puck is Going to Be,” held on Thursday, May 3.

Powered by WPeMatico