PORTLAND, OR – For a new apartment building, Sky 3 has quite the social life.  Sky 3 is a groundbreaking new 15-tale mixed-use development located at 1221 SW 11th Avenue offering 196 apartment units, innovative amenities for active lifestyles, shared social spaces, and 14,500 square feet of ground floor retail space.

It will celebrate its grand opening with a private reception at the community on June 6, 2017 that will include the project team, city officials and local business leaders. An open house for the public with light refreshments and tours of the community will follow the reception from 4:00pm to 6:00pm. 

“We are delighted to celebrate the grand opening of Sky 3 and hope that it has a positive impact on downtown Portland’s housing market,” says Rich Worthington, President and COO of the Molasky Group which developed Sky 3.  “The building is an asset to downtown Portland and it will offer its residents modern apartment living with innovative common areas and amenities that reflect today’s social lifestyle, on-site retailers and fantastic access to all that Portland has to offer.” Local roaster, Coava Coffee, will be the first retailer to open on Sky 3’s ground floor retail space and additional retail space will accommodate a full-service restaurant/bar.

The community is professionally managed by Greystar and includes studios, one, and two-bedroom floor plans and penthouse units ranging in size from 518 to 1,416 square feet. Interior finishes include stainless steel appliances, two-tone white/dark brown contemporary kitchen cabinetry, quartz countertops, tile backsplashes, plank wood-style flooring. Residences feature dramatic nine foot ceilings, spacious walk-in closets, washers and dryers as well as large private balconies and patios in select units.

What truly sets this community apart are its amenities and social spaces including a demonstration kitchen, wine cellar available for private tastings, free Wi-Fi in common areas, a fitness center, game room, library, business center, meeting rooms and concierge service. The rooftop patio includes an outdoor lounge, covered seating, a fireplace and BBQ grilling stations. The pet-friendly community includes a dog grooming station and for bicyclists, a dedicated and secure storage room, wash and repair station.

“Sky 3 affords residents wonderful access to arts and entertainment,” said John Crawford, Director for Greystar.  “The community is situated in the Cultural District in close proximity to the Portland Art Museum, Oregon Historical Society, Arlene Schnitzer Concert Hall, Portland Farmer’s Market, and the gorgeous Park Blocks. People who live at Sky 3 can readily walk to the best places in Portland.”

Sky 3 will offer 39 affordable units at 80% of median income through Portland’s Multiple-Unit Limited Tax Exemption (MULTE) program. The affordable component makes apartments accessible to a broader demographic and will add value to a community in need of affordable housing solutions.

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ANAHEIM, CA – JPI, a leader in the development of Class A multi-family communities, has announced the closing of construction financing for Jefferson Stadium Park’s Phase II, consisting of 376 luxury apartment homes, including 12 live-work units. The community is located on a prime 17.6-acre site within the prestigious Platinum Triangle area in Anaheim, California – directly adjacent to Angel Stadium of Anaheim.  Jefferson Stadium Park, a master plot development, will consist of three phases, and will ultimately result in the construction of 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of community-oriented retail space.

The Jefferson Stadium Park Phase II finance closing, which represents a total Phase II investment of $132 million, follows the announcement of the development’s Phase I finance closing, with an investment of $128 million.  Jefferson Stadium Park Phase II construction financing is provided by East West Bank, based in Pasadena, California, with a focus on both US and Greater China markets, as well as  First Community Bank, based in Santa Rosa, CA including 9 branches located in the San Francisco Bay Area. 

“JPI’s investment in Anaheim’s Platinum Triangle affirms our confidence in the City’s leadership to make Platinum Triangle a new downtown for Southern California’s Orange County,” said Todd Bowden, JPI’s Western Region Senior Vice President and Managing Development Partner.  JPI currently has four projects in various stages of development within Platinum Triangle, with a total anticipated value upon completion of over $675 million. “The City’s vision for this area, and investment in the infrastructure, has made an environment that encourages private, multi-use development, and is an effort worthy of investment for the long term,” said Bowden.

Anaheim’s Platinum Triangle has been in an urban re-use plotting process spanning over a decade.  The City expects that Platinum Triangle will generate in excess of $1.5 billion in investment. “Jefferson Stadium Park represents the ideals that the City originally envisioned for Platinum Triangle,” said Anaheim Mayor Tom Tait. “JPI’s investment in the area – not only Stadium Park, but Jefferson Platinum Triangle, equates to approximately one-third of the City’s goals for developer investments.”

In June, 2016, JPI received unanimous approval for the project from the Mayor and City Council. In September 2016, it was announced that JPI had partnered with Grand China Fund, a Beijing-based private equity real estate fund, in a Joint Venture to develop both Phase I and II of Jefferson Stadium Park.  Laurie Mathers, the U.S. based Head of Acquisitions for Grand China Fund, commented that: “On behalf of our investors, we want to thank JPI for leading our joint venture through another critical stage of the construction process. Securing financing for such a major development is a significant milestone and we look forward to delivering quality housing for Anaheim’s current and future residents.”

Gus Villalba, Managing Regional Partner of JPI’s Western Division, said: “The closing of both Phase I and Phase II financing, coupled with the investments from our Chinese partners, gives us fantastic confidence in Platinum Triangle, and the ability to continue to attract investors from the global market.”

Residents of Jefferson Stadium Park will have access to Anaheim’s Regional Transportation Intermodal Center (ARTIC), as well as year-round entertainment, including Major League Baseball’s Los Angeles Angels of Anaheim, and the National Hockey League’s Anaheim Ducks.  Additionally, the project is located one mile from the Downtown Disney Shopping District; Disneyland, and California Adventure theme parks.  It is also located within ten miles of Anaheim’s top five employers: Disneyland Resort, Kaiser Foundation Hospital, Hilton Anaheim, Cash Call, Inc., Mortgage Division, and Anaheim Memorial Medical Center.

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CHAMPAIGN, IL – American Campus Communities, the nation’s leading developer, owner and manager of high-quality student housing, announced that The Suites at Third, a new student community in Champaign, Illinois opening August 2017 is pursuing LEED Homes Gold certification.

LEED is an initiative from the U.S. Green Building Council that encourages the sustainable plotting, construction, maintenance and operation of projects around the world. LEED is the most widely used third-party verification for green buildings, with approximately 1.9 million square feet being certified daily. Projects pursuing LEED certification earn points across several areas that address sustainability issues. Based on the number of points achieved, a project then receives one of four LEED rating levels: Certified, Silver, Gold and Platinum.

The Suites at Third, located at 707 South Third, is a boutique 251-bed community pedestrian to the University of Illinois at Urbana-Champaign campus and just one block south of “Green Street,” a hub of retail and student life activity. Suites residents will have access to amenities for academic and personal success, including study lounges and G2B® (high speed internet up to 1 gigabit per bed), an Academic Success Center with iMacs and free printing, a state-of-the-art fitness center with separate yoga room and modern student lounges for resident socialization and interaction.

Sustainability was a driving initiative in the design process with the community targeting LEED Homes Gold designation by the USGBC. Features include low emission paints throughout the community, low flow plumbing fixtures to reduce water usage, light efficiency in all common areas and units, outdoor courtyards for student gathering, and native plants that don’t require irrigation.

“We’re proud to deliver a best-in-class student community that is tracking LEED Homes Gold certification,” said Jim Hopke, American Campus Communities president. “The integration of sustainable features into our projects and the education of our employees and residents on the importance of green living are critical components in making communities where students like living.”

With over 80 percent of the community preleased, The Suites at Third has received strong market acceptance and has limited spaces remaining. For more information on The Suites at Third or to tour a model apartment, students can visit the community’s leasing office located across the street at The Tower at Third, a sister property owned and managed by American Campus Communities.

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