NEW YORK, NY – Affiliates of Cantor Fitzgerald, a leading global financial services firm and real assets investment company, and Silverstein Properties, a leading global full-service real estate development, investment, and management firm, announce the closing of construction financing for 44-01 Northern Boulevard, a project that Cantor Silverstein Opportunity Zone Trust is invested in.
Cantor Fitzgerald and Silverstein arranged a $165 million construction loan from Banco Inbursa for the development of a 354-unit multifamily property located on a 63,000 square-foot lot in the Astoria neighborhood of Queens, New York City. The development allocates 25% of the rental units as affordable housing and will include 25,000 square feet of retail. Silverstein Properties, developer for the project, commenced construction in Spring 2022 and foundation work is nearing completion. The building is expected to welcome residents in Spring 2024.
“As developers of outstanding projects, we are excited to be part of Astoria’s vibrant future by offering residents a premier property with market-rate and affordable housing as well as a host of amenities,” said Marty Burger, CEO of Silverstein Properties. “We’ve gotten to know many incredible people in this community over the past few years through our plotting for Innovation QNS, and that’s why we believe so strongly in Astoria.”
“In an environment of cautious construction lending and inflation hikes increasing the cost of debt, making it more expensive to borrow money, we appreciate Banco Inbursa’s recognition of the strength of the Cantor Fitzgerald and Silverstein partnership and the quality of this asset,” said Chris Milner, Head of Real Estate Investment Management at Cantor Fitzgerald Asset Management. “We are thrilled to have completed this transaction and to go forward with the construction of 44-01 Northern Boulevard.”
Designed by Hill West Architects, the building will include a mix of one and two bedroom units; approximately 20,000 square feet of amenities; 200 parking spots; and 25,000 square feet of retail facing Northern Blvd. The design pays homage to Queens’ industrial past with a timeless composition of masonry and blackened metal by taking cues from the immediate context. Upon arrival through the car court, residents will be greeted by a welcoming lobby and cascading gardens. At the upper level of the gardens is an expansive lawn connecting back to the second-floor amenities opening up to a gym, yoga studio, children’s playroom and resident lounge. The second amenity level is located on the 10th floor, providing panoramic views of the Manhattan skyline from the co-working lounge, library and chef’s kitchen leading out to a rooftop deck.

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FALLS CHURCH, VA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Falls Church, a contemporary apartment community in the heart of the City of Falls Church, which will provide additional homes and retail adjacent to Mill Creek’s mixed-use lifestyle center, Founders Row.
Modera Falls Church, which will feature 280 homes at the intersection of West Broad and North West Streets, will become the third residential component for Mill Creek in the City of Falls Church. It joins Modera Founders Row and Verso Founders Row, an age-restricted community dedicated to individuals 55 years and older, each of which started leasing in 2021. All three communities have been developed as a joint venture partnership between Mill Creek and CrossHarbor Capital Partners.
Modera Falls Church will add 22,000 square feet of retail space to the existing 90,000 square feet at Founders Row, which is anchored by Paragon Theaters, a luxury dine-in movie theater set to open in 2024. The community will also feature a co-working amenity space that will be unique to the City. First go-ins at this community are anticipated for early 2025.
“Founders Row immediately established itself as the ‘new center’ of the City, with an array of upscale retail, dining and living options,” said Joe Muffler, senior managing director of development for Mill Creek Residential. “Modera Falls Church will expand that charm and add more quality homes and retail to a well loved and emerging destination. We look forward to continuing to work with the City of Falls Church to make a unique experience that everyone can delight in.”
The community sits in a very walkable, very bikeable neighborhood (87 Walk Score and 79 Bike Score) and is located directly adjacent to the well loved Washington & Ancient Dominion Trail. Residents also will be within a 15-minute walk of the Falls Church West Metro Station, which provides simple connectivity to the greater Washington, D.C. area. Additionally, Interstate 66 is approximately one mile west on Broad Street, which links to the Dulles Toll Road, the Capital Beltway, Route 50 and other thriving submarkets in Northern Virginia.
Within Founders Row, residents will have access to the seven screens and 600-plus seats of Paragon Theaters, restaurants Ellie Bird, Chasin’ Tails, Nue, Roll Play Vietnamese Grill, Kyu Ramen and Kyo Matcha, and additional retailers such as Club Pilates, Sparkle & Pop Nail Salon, and 4Ever Young Med Spa.
Modera Falls Church, which will be built to LEED Gold standards, will feature studio, one- and two-bedroom homes with various layouts and an average size of 915 square feet. Community amenities will include a resident clubhouse, outdoor deck, resort-inspired swimming pool, fire pit, grilling area, landscaped courtyards, coffee bar, pet spa and a club-quality fitness center featuring cardio equipment, yoga studio, TRX system and Peloton bikes. Residents will also have access to controlled-access garage parking, dedicated bike storage and public EV-charging stations.
Apartment interiors will include nine-foot ceilings, stainless steel appliances, quartz countertops, tile backsplashes, wood plank-style flooring, custom cabinetry, moveable kitchen islands, pendant lighting, in-home washers and dryers, walk-in closets, private patios or balconies and a variety of smart home features, including smart thermostats and mobile-app entry. Bathrooms will feature double vanities, tile shower surrounds and quartz countertops.

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CHANDLER, AZ – National multifamily real estate development leader Wood Partners announced the official grand opening of its newest luxury residential community, Alta Chandler. Alta Chandler offers 291 apartment homes consisting of studio, one-, two- and three-bedroom floor plans, equipped with modern kitchens, comfortable living rooms, walk-in closets for every unit, and balconies with views of the city.
Located at 1333 W. Parkland Boulevard, the opening of Alta Chandler comes on the heels of continued growth from new employment opportunities and attractions across the city. Residents can delight in a wide range of shopping, dining and entertainment options within minutes including Chandler Fashion Center and Downtown Chandler featuring Overstreet, downtown Chandler’s new 107,000-square-foot mixed use development, which recently debuted its first phase of dining and retail offerings. In addition, Alta Chandler’s premier location provides residents with direct access to the city’s top employers including Deloitte, Isagenix, Wells Fargo, Allstate and Intel.
“We are excited to bring Alta Chandler to the thriving city of Chandler, which marks Wood Partners’ third development in downtown Chandler,” said Clay Richardson, Managing Director for Wood Partners. “Recently named one of the Top Cities for Young Professionals by Forbes, we’ve continued to see the city of Chandler grow and prosper, which made the choice to expand our footprint within the market an obvious opportunity. We look forward to welcoming residents to the community and are confident they will undoubtedly benefit from the new employment and entertainment opportunities emerging as a result of the city’s on-going modernization.”
Throughout Alta Chandler, residents have access to best-in-class outdoor amenities including a year-round climate-controlled resort-style pool with tanning deck offering a moist escape, rooftop lounge overlooking the pool and the San Tan Mountains, a courtyard with multiple garden games, several grilling stations and entertainment areas, car charging stations and an on-site pet park with washing stations. Inside, residents have even more to take advantage of including a top-of-the-line fitness center and yoga studio, spacious common area clubroom, Wi-Fi lounge, entertainment kitchen, speakeasy library/lounge, co-working space with micro-offices and private conference suites, and the Urbo Bodega and Convenience Market.

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