ABA Endorses Down Payment Resource Mortgage Solution

(RECAP: The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed a solution that helps banks get more buyers into homes. The program – provided by Atlanta-based Down Payment Resource – is the nation’s only database of homeownership programs and software that automates the process of matching eligible buyers and properties to available programs. Prior to awarding the endorsement, ABA conducted a due diligence review to investigate Down Payment Resource’s ability to provide financial institutions with a one-stop digital solution for sourcing live, up-to-date information about down payment help, grants, closing costs, Mortgage Credit Certificates and more. DPR works with more than 1,000 housing agencies to find and update information about local, state and national homebuyer programs.)

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SummerHill Apartment Communities Completes Luxury Rental Community in Sunnyvale, California

SAN RAMON, CA – SummerHill Apartment Communities, a division of SummerHill Housing Group and a leader in providing quality, smart growth, multi-family rental housing and mixed-use developments, announces the completion of 481 on Mathilda, a new 105-unit luxury residential rental community in downtown Sunnyvale. A completion ceremony was held on December 7, 2016.

“The completion ceremony is a celebration of the collaboration between the City of Sunnyvale and SummerHill Apartment Communities,” said Robert Freed, CEO of SummerHill Housing Group. “Our goal is to produce high-quality housing located near jobs, transportation and existing services so our residents can delight in a convenient and satisfying live-work-play lifestyle. We are excited to bring new, housing opportunities to the City of Sunnyvale.”

The community’s amenities include a state-of-the-art fitness room, clubroom with an entertaining kitchen that looks out on the landscaped central courtyard, and resident conference room. The central courtyard includes both active and passive spaces for activities that range from outdoor cooking to hanging out by an outdoor fire pit. This courtyard includes a BBQ, outdoor kitchen area, expansive green space for recreation, outdoor “living room” with fireplace and reflecting fountain. The pet-friendly community also includes a pet salon, conference room, and an on-site parking garage. WiFi is available throughout the community. 

Studios, one- and two-bedroom floorplans feature in-unit full-size washer/dryers, stone countertops, gourmet kitchens, modern cabinetry, contemporary wood-end flooring, private balconies/patios, storage and private-entry stoops.

Located at 481 S. Mathilda Avenue in Sunnvale, the transit-oriented and pedestrian-friendly residential community is less than ½ mile from the Sunnyvale CalTrain Station, and VTA Lines 22 and 522 at El Camino and Hollenbock/Pastoria. 481 on Mathilda is also located near grocery and retail opportunities as well as the Murphy Avenue entertainment district.

SummerHill Apartment Communities recently celebrated the completion of several Silicon Valley luxury residential rental communities totaling 634 apartment homes including Domus on the Boulevard in the City of Mountain View; The Lane on the Boulevard in Redwood City; and Brio in Walnut Creek. In addition to the newly completed 481 on Mathilda apartment community, SummerHill Apartment Communities is slated to complete Villas on the Boulevard, a 186-unit apartment community in Santa Clara, in early 2017.

SummerHill Apartment Communities is currently under construction in Seattle, Washington, on a 153-unit apartment project. In 2017, SummerHill also has plans to break ground on four new communities in California: 290 new residential units featuring a mix of apartments and condominiums in Burlingame; 720 residential units and 36,000 square feet of retail space near Milpitas BART Station; a 251-unit apartment community near the Lawrence Station Cal Train in Santa Clara; and a 105-unit apartment community in Pasadena.

 

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Historic Block in Seattle's Pioneer Square to be Revitalized to Deliver Unique Alley Experience

SEATTLE, WA – Three buildings in Pioneer Square will be significantly renovated to accommodate a new retail, office and residential destination that reinvigorates the entire block. The pedestrian-friendly development within Pioneer Square will be a central part of the reawakening of this vibrant Seattle neighborhood while augmenting its historic character. This transformative project is being developed by Urban Villages (UVI), together with Manchester Capital Management (MCM).

The project will retrofit and revitalize three marquee buildings in Pioneer Square: The Manufacturer’s Building at 419 Occidental Ave., the Westland Building at 100 S. King St., and the former Schoenfeld Furniture building at 115 S. Jackson St.  

The result will be an exciting and unique entertainment, work, residential, retail and dining hub that will transform the historic alleyway between the buildings into one of Seattle’s most compelling destinations. One of the project’s signature features will by its active alleyways – former utilitarian spaces that will be transformed into bustling retail and dining hubs. The alleys are designed to build upon an international trend of alley activation, in which underused city spaces are repurposed into highly energetic pedestrian gathering spots, drawing locals and visitors alike with a robust mix of businesses and activity. Seattle has led this trend in the US with Post Alley at Pike Place Market, and with the International Sustainability Institute/Alliance for Pioneer Square’s recent efforts in Nord Alley and Pioneer Passage.

“From unique dining choices to boutique retail to farmers’ markets and festivals, the alley corridor between the buildings will capitalize on the growing energy in Pioneer Square to be more than a thoroughfare, but a right destination,” said Jon Buerge, vice president of UVI. “These buildings, streets and alleys were originally built decades ago to facilitate the transportation of goods, but today we can reactivate them to convene people, thoughts and energy while maintaining their historic appeal.”

In addition to making a distinctive alley destination, UVI will improve the buildings for Class AA office space with seismic retrofits, refurbished interiors, upgraded mechanical systems and more functional interior spaces for residential, retail and office tenants.

“Pioneer Square was Seattle’s first neighborhood and remains one of its most historically significant places,” said Leslie Smith, Director of The Alliance for Pioneer Square. “The multimillion-dollar investment in this section of Pioneer Square reinforces our goal of restoring this incredible neighborhood by driving urban revitalization and responsible, place-based development.”

To date, the Pioneer Square Presentation Board has reviewed and approved the UVI project plot, which calls for extensive historic preservation of the existing buildings. Additionally, since UVI is noted for its highly sustainable solutions, this project will continue Seattle’s long tradition of environmental leadership.

“This transformative project is one step in the evolution of Seattle’s waterfront,” continued Buerge. “This development’s proximity to existing and plotted transportation corridors, innovative business hubs like Galvanize, well loved dining locales and CenturyLink Field, make it perfect for new businesses, retail and creative arts. We are excited to collaborate with the neighborhood and help reawaken these historic buildings to ensure that they thrive for the next 100 years while forging a new sense of place in Pioneer Square.”

UVI has selected several Seattle-based companies to help with the project’s development including SHED Architecture + Design, MIG|SvR which will lead the landscape and urban design, and Sellen Construction as general contractor.

Construction is expected to start in late 2017 and completed by 2019.

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