Author Archives: ipgocorp

Culpeper Planning Commission tiptoes around proffer issue at zoning change work session

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(RECAP: Culpeper County is getting its first chance to deal with life after proffers. Because of a change in state law, governments can no longer demand proffers from developers before approving zoning changes. That made Wednesday night’s Plotting Commission’s work session with Caruso Homes a bit awkward, to say the least. Caruso, a Maryland-based developer, is hoping to build 301 affordable housing units on 121 acres that is zoned to accommodate a maximum of 40 single-family dwellings. The Arbors of Culpeper, proposed for what is now a cow pasture just across the Norfolk-Southern Railroad tracks on Nalles Mill Road, would be a community consisting of 266 “village homes” and 35 townhouse units. Caruso would not speculate on just how affordable these units would be, explaining that price would depend on development costs and the strength of the housing market when the homes are built. While the Plotting Commission may no longer legally seek proffers, Caruso offered several, including sidewalks, curbs and gutters, landscape trees, street lights, asphalt and wood chip walking trails, a 1.2-acre playground for small children, a pavilion and 40 percent open space.)

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A new approach

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(RECAP: Union on Queen, a $77.2 million, mixed-income multifamily community has opened in Arlington under a concept that helps Arlington County meet goals for affordable housing. Developed by the Bozzuto Group and nonprofit developer Wesley Housing Development Corp., the community at 1515 N. Queen St. in downtown Arlington has 193 apartments of which 78 (40 percent) are designated as affordable housing. These units are open to households earning 50 to 60 percent of the area’s median income of $106,484. The project offers both market-rate apartments and affordable-rate apartments. Under affordable rates, for instance, a bedroom with 714 square feet that would go for $1,018 would be more than $2,000 at the market rate. According to the developers, the thought behind mixed-income communities with affordable housing is that teachers, police officers and firefighters, as well as low-income renters or retired people living on Social Security, can live in the neighborhoods where they work. Support came from Arlington County, VHDA and financial partners Capital One Financial Corp., Hudson Housing, Walker & Dunlop and Freddie Mac.)

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New High-Rise Apartment Building Opens its Doors to High Demand in Tampa’s Harbour Island

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TAMPA, FL – New high-end apartment living has been introduced to Harbour Island. 500 Harbour Island, located at 500 Knights Run Ave. on Harbour Island in Tampa, is open for leasing, offering the latest in luxury, design and services to apartment residents. The 21-tale high-rise building has 235 apartment homes comprised of studios, 1 & 2 bedrooms, 32 penthouse homes and five ground-level townhomes.

Meeting the market demand, 500 Harbour Island caters to a mixed demographic seeking an island lifestyle with sophisticated amenities and services. The location also offers the utmost convenience of being near the city with simple access to shopping, dining and entertainment. The unique amenity package includes an eighth floor amenity deck with views of Tampa Bay and downtown Tampa, a fourth floor infinity edge pool with a waterfall, cabanas, full high-tech clubroom, fitness center & spa, recreation center featuring huge screen TV’s and pool table, outdoor TV entertainment venue, conference room, library, dog park and much more.

The local development team for 500 Harbour Island is comprised of Robert Moreyra and Peter Collins with Forge Capital Partners, and Phillip Smith and Greg Minder with Intown/Framework Group. The management company hired to oversee the leasing and management for 500 Harbour Island is Gables Residential.

“Our goal was to offer the Tampa market a high-end apartment home product backed by first-class customer service, and strategically develop this product on Harbour Island. Finding a site on Harbour Island makes the project that much more appealing to the high-end demographic we are targeting. 500 Harbour Island is a unique offering of ‘island living’ with the best of city living only a ferry ride, water taxi or small drive from home,” shares Phillip Smith.

With customer service at the forefront of importance for the new development, the developers also included a full service on-site concierge to provide services as needed and a 24-hour package room for the residents’ convenience. According to Robert Moreyra, “Based on market research, we believe there is adequate demand for a first-class, luxury rental community like 500 Harbour Island. We invested considerable resources in thoroughly plotting the project’s amenities and services to cater to the desired demographic. We also brought in the best management company to support the needs of the residents.”

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