WORCESTER, MA – Roseland Residential Trust, a wholly owned subsidiary of Mack-Cali Realty Corporation, held a groundbreaking ceremony with public officials for 145 Front Street at City Square in Worcester, Massachusetts. This project is the first of two phases, when complete it will be comprised of 365 apartment homes, phase one includes 237-apartment homes. It is a key component of the master-plotted, mixed-use development that is revitalizing the city’s downtown. Roseland anticipates a third quarter 2017 completion of this community.

The luxury residential community will be a draw for the many young professionals flocking to the revitalized Worcester, New England’s second largest city. The property will feature studio, one-, and two-bedroom units, with a wide range of state-of-the-art amenities, including a stunning outdoor swimming pool with a sundeck, a courtyard with fire pit, barbecue grills, a dog run, and more. The building will also have a full-time concierge, a fitness center with on-demand yoga and spinning services, and a clubroom with billiards, computers, a lounge area, and a game room. Additionally, there will be 10,000 square feet of retail space at 145 Front Street.

The full mixed-use project includes a new hotel, public parking garage, and significant additional retail space. Downtown Worcester is ideally located steps from the Worcester Common and the new transportation hub at Worcester’s Union Station offering multiple transport options, including Massachusetts Bay Transportation Authority (MBTA) trains, Amtrak, and bus service. The MBTA offers service to Boston’s South Station in approximately 90 minutes.

“Making a vibrant downtown residential community gives our growing workforce the high-quality homes they need, and today marks a major milestone in Worcester’s continuing renaissance,” said Worcester Mayor Joseph M. Petty. “Downtown’s transformation is made possible by partners like Roseland who are committed to making projects like this one a reality, and we look forward to continuing to work together for years to come.”

“This development brings a new dimension in luxury living to the rapidly growing downtown Worcester area – an unrivaled set of amenities, convenience, and a high-end lifestyle,” said Andrew Marshall, president and chief operating officer of Roseland Residential Trust. “This property and the entire development will make Worcester the quintessential urban live-work-play environment, and we are thrilled to be a part of it.”

This property is expected to be especially attractive to Worcester’s growing workforce in advanced manufacturing, information technology, biotechnology, and healthcare. There are a number of significant private and public sector employers in Worcester, including St. Vincent Hospital, UMass Memorial Medical Center, and the Massachusetts College of Pharmacy and Health Sciences. The area is home to 12 colleges and universities with more than 35,000 students.

“The momentum of Downtown Worcester is plain to see, and the addition of Roseland’s high-quality, market rate housing will only build on that energy,” said City Manager Edward M. Augustus, Jr. “This is a fantastic example of smart growth, bringing hundreds of people downtown to live near our intermodal transit hub, where they can take a bus across the city or an express train into Boston. As we continue to build density and downtown increasingly becomes a genuine neighborhood, I see even more fantastic things on the horizon.”

Roseland’s focus on developing in downtown areas is readily apparent elsewhere in Massachusetts as well. The company is building Portside at East Pier in East Boston where it is redeveloping a stretch of waterfront property on Boston Harbor. Portside at East Pier is comprised of 181 apartment homes that are fully occupied, 296 that are currently under construction, and an additional future phase which will likely include a mix of apartment homes, condos, a hotel, and multiple public amenities. Roseland is also constructing The Chase II at Overlook Ridge five miles north of Boston. Chase II is a 292-apartment home community and part of a master-plotted community, currently comprised of 1,400 apartment homes, and approved for a total of approximately 2,800 apartment homes.

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SHEPHERDSTOWN, VA – EdR, one of the nation’s largest developers, owners and managers of high-quality collegiate housing communities, celebrated the commencement of construction on a residence hall at Shepherd University in Shepherdstown, W.Va. with a groundbreaking ceremony.

As previously announced, EdR was selected and hired by the Shepherd University Foundation Supporting Organization (SUFSO) to oversee all the aspects of this third-party development including financing, design and construction.   Raymond James Financial, Inc. helped EdR and the Shepherd University Foundation with the funding for this $22 million project.   

There will be a mix of single and double suite-style units for a total of 298 beds in the new five-tale residence hall.   Amenities will include a food service and dining area, classroom, student lounges and study rooms along with robust internet and Wi-Fi capabilities throughout the community. Upon completion in summer 2017, the SUFSO will own the building and the university will provide management services.

At the groundbreaking celebration, assembled students and faculty were able to hear from university administrators about the development and get their first glimpse of renderings, which were met with fantastic excitement.

“This residence hall is a noteworthy example of Shepherd’s commitment to strategically navigate with a purpose,” said Shepherd University president Mary J.C. Hendrix. “This new addition will inspire student development, beautify the campus and stimulate the economy in Shepherdstown and the entire region, which are all pathways we are following to advance our premiere liberal arts university.”

President Hendrix invited EdR president Tom Trubiana, Chancellor Paul Hill, Shepherd Board of Governors chair Dr. Marcia Brand, Shepherd vice president for administration James Vigil, SUFSO board member Tim McShea and other executives to join her in the footprint of this plotted community to turn over the first shovels of dirt on the project.

“EdR is honored to be selected to work with Shepherd University on this on-campus community,” said Tom Trubiana, EdR president. “High quality residential experiences not only improve the lives of students, but also help the university attract and retain top-caliber students.”

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NEW YORK, NY – The Orbach Group announced the launch of its new subsidiary, Orbach Affordable Housing Solutions, committed to the investment in and preservation of affordable residential units in New York City and across the country. The new subsidiary has $150 million of new acquisitions in the pipeline to expand its existing affordable portfolio. For each property bought, Orbach Affordable Housing Solutions plans to sign the maximum allowable Section-8/HAP or other applicable government extensions to ensure the buildings remain affordable. Orbach Affordable Housing Solutions will be led by Jay Reinhard, an industry expert with nearly two decades of experience, including 12 years as a Vice President at Related Companies.

“Our commitment to ensuring high-quality housing for New Yorkers of all income levels is unwavering,” said Meyer Orbach, Chairman of the Orbach Group. “Today’s announcement signifies both an expansion of our affordable housing portfolio, as well as a pledge to continue preserving the affordability of these units for generations to come.”

“Working in affordable housing for nearly two decades has been a tremendously rewarding experience,” said Jay Reinhard, President of Orbach Affordable Housing Solutions. “Rehabilitating buildings, making them current, working to make sure that everybody has a nice place to live is my life’s passion – and I am thrilled to take the next step in my career with Orbach Affordable Housing Solutions.”

This new subsidiary, Orbach Affordable Housing Solutions, will have more than 2,000 affordable units, and an approximate portfolio value of $400 million. The Orbach Group’s other properties – including more than 4,000 additional multifamily units – will continue to be managed by the parent company. Most of these properties are located in New York City, though others are located in New Jersey, Pennsylvania, and California. The Orbach Group, and now Orbach Affordable Housing Solutions, has a long history of renewing Section-8/HAP contracts to preserve housing for people of all income levels.

Prior to joining the Orbach Affordable Housing Solutions, Reinhard served as the President of the Affordable Housing Group at Cammebys International. During his time at Cammebys and Related, Reinhard completed roughly $1.5 billion in acquisitions, dispositions, and refinancing of affordable housing properties. He earned a dual degree in accounting and finance from the NYU Stern School of Business. He was born in Brooklyn.

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