NEWPORT BEACH, CA – Trumark Homes, the national award-winning California homebuilder, has commenced construction on 114 new townhomes at Centerhouse in Ontario, California. As the company continues its Southern California expansion, Centerhouse is the latest example of Trumark’s commitment to bring housing at affordable price points to markets experiencing the greatest supply and demand imbalance.

“The Inland Empire is primed for continued growth and Trumark Homes is proud to grow our footprint in this desirable market bringing much-needed entry-level housing product to a region that has experienced tremendous demand,” said Richard Douglass, Southern California Division President at Trumark Homes. “The initial response to Centerhouse has been extremely encouraging and we are confident that the homes will be quickly swept off the market once sales launch thanks in part to our creative financing program putting the dream of home ownership in reach for many.”

Situated on 7.8 acres, Centerhouse will comprise 114 attached two-tale townhomes and flats ranging in size from 1,430 square feet to 1,946 square feet in three-plex and six-plex style buildings featuring a contemporary craftsman architectural style. Each home will be designed with two-car garages and select homes will comprise private rear yards and/or large private balconies. Centerhouse will also boast rich community amenities, including a pool and a walking paseo that stretches through the middle of the community.

Sales are anticipated to launch in January 2018 with model homes slated to debut in spring 2018.  Centerhouse is located at 2324 S. Euclid Avenue in Ontario. 

Trumark Homes has a robust portfolio in Southern California comprised of six new home communities, including Tribella in Santa Ana, Bristol and Founders in Chino Hills, Lewis + Mason in Anaheim and Upcoast in Costa Mesa, all of which are at various stages of development. Trumark Homes has been recognized by the National Association of Home Builders (NAHB) at The Nationals Awards and Building Industry Association (BIA) for the Excellence in Home Building Awards. 

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BEVERLY HILLS, CA – Global real estate investment company Kennedy Wilson announced that it has bought Northbank Apartments, a wholly-owned 124-unit apartment community in Dublin’s North Docks, for €45 million from Jarmar Properties Limited (In Receivership) acting through David Carson of Deloitte as Statutory Receiver, the lender being the National Asset Management Agency (“NAMA”).

Situated in Dublin’s North Docks, Northbank is located just 50 meters from Kennedy Wilson’s existing 84-unit Liffey Trust apartments. The two buildings benefit from fantastic transport links as the LUAS Red line is immediately adjacent connecting to Dublin’s city centre and main train stations in five minutes.

“The successful acquisition of Northbank in such close proximity to our Liffey Trust asset allows us to leverage our existing presence and implement our value-add asset management strategy, including adding onsite management and amenities to serve both properties. We believe we have a fantastic opportunity to grow our near-term NOI by undertaking additional refurbishments to enhance Northbank’s rental growth prospects,” said Mary Ricks, President and CEO of Kennedy Wilson Europe.

“We are particularly pleased to secure Northbank as one of the few remaining unbroken 100+ unit multifamily assets left to trade in Dublin. The North Docks is a rapidly expanding sub market where we want to grow our footprint. This is all part of our exciting plans to more than double our multifamily business in Europe to 5,000 units over the next few years,” added Ricks.

Completed in 2007, Northbank includes 31 one-bedroom, 64 two-bedroom and 29 three-bedroom apartments (of which 75% are occupied or with leases agreed), secure underground car parking and 16,000 sq ft of currently vacant retail space. It benefits from significant development in the area, with nearly 2 million sq ft of new office buildings either under construction or plotted for this sub-market.

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CHANTILLY, VA – Northwood Ravin, one of the premier multifamily development companies in the Southeast, is moving into the Washington, DC metro area with its first project in Fairfax County.  The team will soon start construction on the first multifamily building along with 10,000 square feet of retail at the Preserve at Westfields in Chantilly.  Located at the entrance to Westfields Corporate Center and near the area’s newest Wegmans, the Preserve at Westfields will feature 312 luxury apartment homes consisting of studio, one, two, and three-bedroom floor plans in addition to the retail outparcels.   The development, which also includes 155 for sale townhomes being built by Elm Street, will showcase a number of community spaces, including an amphitheater, pavilion, and a nature trail that surround a central lake.

Michael Gribble, Vice President of Northwood Ravin, believes this project will transform Westfields into a right live, work and play environment.  “The Preserve at Westfields was the perfect opportunity for us to enter into the DC metro area.  With a large employment base, Westfields was already an active place during business hours.  The addition of the apartments, townhomes, the nearby Wegmans and our retail will help Westfields become an even more vibrant place in the evenings and on weekends too.  Each of our projects is uniquely designed for their specific locations, and we are excited to bring the Northwood Ravin brand of multifamily development to Northern Virginia.”

The new luxury apartments will be designed for NGBS certification and will feature the best in Northwood Ravin’s recent designs and finishes offered in studio, one-, two-, and three-bedroom floor plans.  Apartment residents will delight in fantastic views and an abundance of natural light in their homes with oversized windows and French doors leading to spacious balconies.  The apartment interiors will include 10′ ceilings, upgraded tile and plank flooring, spa-inspired bathrooms, and gourmet kitchens with granite counters, tiled backsplashes, premium appliance packages and double upper cabinets.  The first apartment homes are anticipated to be ready for occupancy in mid-2019.

The community will include a resident fitness room and CrossFit-inspired gym, complimented by a private fitness studio and men’s and women’s saunas and steam rooms.  The Preserve apartment amenities will also feature a large first floor lounge with game room, a resident café and co-working space, and a top floor sky lounge overlooking adjacent wooded area and creek.  The outdoor amenities will include a resort-style pool with sun shelf, an outdoor kitchen and patio and a central social lawn with hammock garden.  The community will also benefit from 10,000 square feet of retail shop space split evenly between two outparcel buildings.  Northwood Ravin will seek LEED certification for the retail. 

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