NEW YORK, NY – Blackstone, through funds it manages on behalf of its real estate investors, and Ivanhoé Cambridge, announced plans to implement the largest private multi-family residential rooftop solar project in the United States. The project will be run by StuyTown Property Services (SPS), the property management company of Stuyvesant Town and Peter Cooper Village.

This 3.8 Megawatt (DC) solar energy system will span across the property’s 22 acres of rooftops. Once completed, StuyTown will have tripled Manhattan’s capacity to generate solar power. NYC-based renewable energy developer Onyx Renewable Partners is project developer for the installation, which is expected to start this winter and reach completion in 2019.

The installation will consist of 9,671 high efficiency solar panels and will generate enough energy to power over 1,000 New York City apartments annually. The project is expected to offset approximately 63,000 tons of carbon dioxide emissions, comparable to removing 12,000 cars from the road for a year.

“We are incredibly proud of the long-term partnership we are building with the StuyTown community,” said Nadeem Meghji, Head of Real Estate Americas at Blackstone. “In 2015 we made a commitment to preserve StuyTown’s unique heritage and be responsible stewards of its future. This innovative solar project is one of many initiatives we designed and implemented to make the community more sustainable and environmentally friendly.”

StuyTown is the first multifamily building in NYC to have received an ENERGY STAR certification, which it has won three years in a row for its sophisticated energy management technologies. Other sustainable initiatives at the property have included the installation of LED lighting, high efficiency hot water heat exchangers, elevator shaft louvers to minimize heat loss and domestic water flow control valves, as well as incorporating the use of a centralized building management system to control steam heating distribution and manage all of its sustainable initiatives. The community has been particularly active and enthusiastic in supporting StuyTown’s compost waste pickup, averaging just over 10,000 pounds of organic material collected weekly – representing 17 percent of all residential compost waste collected in Manhattan. StuyTown has already reduced on-site greenhouse gas emissions by 10 percent since 2007, and has now expanded into the solar sphere as part of its larger commitment to environmental sustainability.

“Working to make communities more sustainable underpins many of our business decisions. We are especially proud of this initiative and congratulate our partners Blackstone and the team at SPS. Stuyvesant Town Peter Cooper Village is a very special place and continues to be a leader in New York City,” said Daniel Fournier, Chairman and CEO, Ivanhoé Cambridge.

StuyTown is the largest rental apartment complex in the U.S., with 11,200+ multifamily units in 56 buildings across 80 acres in Manhattan’s East Village. It houses more than 27,000 New Yorkers and represents 1.7 percent of Manhattan’s population.

“When we bought StuyTown in late 2015, we made sure to solicit feedback from the residents. We quickly learned of the strong connection with the community’s green space and the residents’ commitment to the environment,” said Rick Hayduk, CEO of StuyTown Property Services. “This solar project is yet another initiative executed by StuyTown’s ownership to reduce overall GHG emissions for the betterment of our city.”

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ENGLEWOOD, CO – Hamilton Zanze (HZ), a San Francisco-based real estate investment company, has bought the 238-unit Oxford Station residential community in Englewood, Colorado for a buy price of $60 Million.

The property consists of two large, 5-tale buildings with a total of 182,991 net rentable square feet across a mix of studio, one, and two bedroom units. Unit occupancy was 96% at the time of the transaction.

Designed for luxury, the community offers a state-of-the-art fitness center with virtual workout classes, a sky-level entertainment lounge; a social lounge; a zen lounge; a pet washing station and dog park; on-site secure storage; enclosed bicycle parking; a pool with hot tub and barbeque area; an outdoor gaming area; bike, ski, and board repair station; and structured parking, all against mountain backdrop.

“Oxford Station offered a unique opportunity to buy a phenomenally-built product with modern amenities at an attractive basis. The property is located adjacent to a light rail station, providing residents with convenient access to Downtown Denver and an ever-expanding rail network. CBRE, specifically David Potarf, exceeded our expectations and we look forward to working on our next deal together soon,” said David Nelson, the Managing Director of Acquisitions for Hamilton Zanze.

The property, located at 4101 S. Navajo Street, was originally opened just over one year ago in 2016, and developed by Littleton Capital Partners. Given its immediate adjacency to the well loved RTD Southwest Light Rail line, the property has maintained high occupancy levels since opening. Management of the community has also been transitioned to Hamilton Zanze partner Mission Rock Residential, a Denver-based company.

This is one of seven properties now held by Hamilton Zanze across the Metro Denver region, and the first in Englewood. Additional HZ properties in Denver include Platte View Landing, The Vistas at Stony Creek Apartments, Belle Creek Apartment Homes, Highpointe Park Apartment Homes, The Diamond at Prospect Apartments, and Harvest Station.

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FLAGSTAFF, AZ – Northern Arizona University (NAU) and American Campus Communities, the nation’s largest owner, manager and developer of high-quality student housing communities, celebrated the addition of Skyview to the NAU campus at a grand opening event in Flagstaff, Arizona.

The development of Skyview responds to Northern Arizona University’s need to increase their offering of modern, purpose-built, on-campus student housing. Skyview supports the University’s growth by providing these students with high-quality accommodations in a live-learn community that is designed with today’s students in mind.

“At the ground breaking ceremony we promised not just an exceptional residential experience, but a facility with academic space and support services for student success, and parking,” NAU President Rita Cheng said. “I am pleased to confirm that American Campus Communities has kept their promise to NAU and to our students.”

Sited strategically to offer breathtaking views of Mount Elden, Skyview features spacious apartment and townhome-style accommodations, academic resources including an Academic Success Center with iMacs, free printing, and group and private study lounges, and state-of-the-art amenities to promote wellness and resident socialization, including a fitness center with strength equipment, free weights, and separate cardio room, and recreation center with billiards, ping pong and arcade games.

The landscape is designed to make a walkable mountain community that accommodates native plantings. Skyview also provides residents with nearly 3,000 square feet of retail space featuring EAT Market.

“Skyview is a fantastic addition to our long-term, successful partnership with Northern Arizona University,” said James Wilhelm, EVP Public-Private Transactions at American Campus Communities. “It’s our goal to make environments for academic and personal success for students, and this community will do just that for more than six hundred students.”

The 626-bed community is the second phase of the Hilltop Townhomes community delivered in 2012, and the fourth phase in the NAU-ACC partnership, which has delivered more than 2,000 modern, on-campus student beds.

The grand opening event was held at Skyview and featured a ribbon cutting ceremony and reception. Attendees included University representatives, Flagstaff elected officials, and development team members from American Campus Communities.

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