Beztak Announces Construction of 272-Unit Innova Luxury Apartment Community in Farmington Hills Submarket of Novi City

FARMINGTON HILLS, MI – The area near Haggerty Road between 12 Mile and 13 Mile, originally master plotted for high tech office and business parks, has consistently attracted a highly sophisticated and often multinational workforce accustomed to modern upscale living.
But, employees of the notable businesses nearby—such as Mercedes Benz, Bosch, the Henry Ford Medical Center, and Harman International—have had limited local options for contemporary and high tech apartments with modern amenities, styling and technology. That will change when Beztak s latest apartment community, Innova, opens in the fall of 2023.
Beztak CEO Sam Beznos clarifies, Until we broke ground on Innova, the majority of renters seeking to live close to work had only decades-ancient garden-style communities to choose from—often with only modest finishes, limited amenities, low ceilings and a very traditional feel. Novi s 21st-century workforce has made a fantastic demand for upscale apartments near I-696, I-96 and I-275. Innova will meet that demand and offer a new luxury rental option in Novi for these discerning renters.
A community of 10 uniquely conceived buildings on 22 acres, Innova has plenty to offer the community with sleek townhomes and one-, two-, and three-bedroom luxury apartment homes for rent with a fresh European style not currently offered in Novi. The 272 apartments and townhomes will range from 809 to 2,123 square feet and feature chic, high-end finishes and features such as wood-plank flooring, quartz countertops, stainless steel appliances, and in-home washers and dryers.
About half of Innova s rental homes will have garage and carport parking—a premium amenity during Michigan winters. Residents will be able to keep in shape at the community s fitness center with high-end interactive equipment including Peloton® exercise cycles and Mirror home fitness devices. A generously-sized outdoor pool with a cabana, an area for yard games and barbecues, and an extensive exercise area are among the many outdoor amenities plotted for the apartment development, located near Nissan, Panasonic, and Magna Seating.
For the convenience of out-of-state or international workers relocating to Novi, or assigned to the area on a temporary basis, some of the units will be furnished and available for small-term rental.
Beztak—named one of the Best Managed Companies by Deloitte Private and The Wall Street Journal—prioritized environmental impact when designing its newest luxury apartments north of Detroit. Innovative smart technologies such as electronic locks, lighting and thermostat controls, plus Energy Star appliances, are designed to appeal to residents who demand the latest in environmentally-conscious living. Innova s apartments and townhomes will also be constructed to the latest LEED (Leadership in Energy and Environmental Design) health, energy efficiency, and cost savings standards from the U.S. Green Building Council.
The most visible commitment to green construction will be Beztak s protection of a wetland the company incorporated into the community s design. Beztak plans a walking path through the forested wildlife habitat meandering along the west side of Innova s site.
This is typical Beztak—bringing a project to life through innovation, creativity, and problem solving, says Beznos. Others may have seen the wetland as a burden, but we saw an opportunity to protect the environment and to make another amenity for our residents. We develop every community with consideration of the natural site conditions and with a deep understanding of what the market want to see. Our projects enhance the surrounding community, so we can offer our residents a living experience they can t get anywhere else.

Powered by WPeMatico

Novak Brothers Development Breaks Ground on 301-Unit Rise510 Apartment Community Inside of Wolf Lakes Village in Georgetown, Texas

GEORGETOWN, TX – Novak Brothers Development announces breaking ground on a 12-acre parcel located inside of the new, master development Wolf Lakes Village in Georgetown, Texas. Construction starts this week on Rise510, a 301-unit, luxury, multifamily Novak community with completion expected summer of 2024.
The development will feature first-class amenities on site, such as tuck-under private parking, a fitness center, a swimming pool and a one-acre community park. With close proximity to 25 miles of hike and bike trails, gorgeous parkland, and convenient access to major highways, shopping, and historic downtown Georgetown, Rise510 is primed for success. The site has brilliant connectivity with Interstate 35 and State Highway 130 toll road, providing quick access to additional employers and amenities in Round Rock, Cedar Park, North Austin, and even Austin Bergstrom International Airport.
“We are excited to start construction on Rise510 in the rapidly growing city of Georgetown, Texas,” said Andy Heard, President and Partner of Novak Commercial Development. “It is our vision to develop high-quality, experiential living environments that provide unmatched amenities, as well as proximity to anything a person hungry for lifestyle experiences might desire.”
Wolf Lakes Village is a one-of-a-kind, 164-acre master-plotted European village on the edge of the Hill Country in gorgeous Georgetown, Texas. Once completed, Wolf Lakes Village will offer unique amenities such as community lakes, a large outdoor amphitheater, park space, sports courts, hike and bike paths, an ice skating rink, a wedding chapel, an event center, seasonal events, and music venues. Major Wolf Lakes Village commitments include a 15.5-acre site for a 117,000 square foot H.E.B. flagship grocery store and a 12-acre Ascension site plotted for medical office buildings and an ambulatory surgical center.

Powered by WPeMatico

Stoneweg US Completes Acquisition of 348-Unit Wild Oak Apartment Community in High Growth Northland Submarket of Kansas City

KANSAS CITY, MO – Stoneweg US, a real estate investment firm specializing in multifamily acquisitions and developments, announced the acquisition of Wild Oak Apartments, a 348-unit community located in the Northland (Liberty) submarket of Kansas City, MO; a major US market, which has experienced positive net migration for the last several years and continues to show strong growth indicators in the future.
“We’re pleased to announce the acquisition of Wild Oak Apartments, an asset located in one of the premier submarkets of the high-performing Kansas City MSA,” said Matthew Levy, Executive Vice President & Head of Investments for Stoneweg US. “Securing an asset of this caliber during such a hard and volatile time in the market gives us fantastic momentum as we head into Q4.”
Located in the highly desirable Northland submarket, Wild Oak Apartments features 348 units consisting of 1, 2, and 3-bedroom apartments with a moderate amenity suite that includes two onsite pools, a full-sized basketball court, volleyball court, two-tale clubhouse, and over 500 parking spaces including 58 detached garages and 54 carports.
Stoneweg US will implement an aggressive capex plot upon takeover that will include extensive sustainability initiatives as well as unit and property improvements. Beginning immediately Stoneweg US will start benchmarking energy, water & waste using Energy Star Portfolio Manager and implement a community recycling program. Internal upgrades will include new granite countertops, subway tile backsplashes, Water Sense plumbing fixtures, stainless-steel Energy Star appliances, cabinet refinishing, and washer/dryer additions to all units; while external upgrades will consist of pool area improvements including grilling stations and new pool furniture additions, new fitness center equipment, painting of parking and common areas, and installation of a new package locker system for residents. The Company will also enter into a programmatic HVAC replacement plot, manage water and electricity consumption with market best practices and examine the existing solar installation to optimize energy production in accordance with the Company’s keen focus on incorporating environmental sustainability solutions throughout its portfolio.
“With population growth upwards of 7% in this area, and compressed supply for renters looking to penetrate this submarket, our team is looking forward to the transformation of Wild Oak Apartments,” said Ryan Smyth, Director of Acquisitions. “We’re confident that our proposed business plot will elevate the curb appeal for prospective renters while enhancing the experience for existing residents and positioning the asset for favorable future results.” Stoneweg US has appointed Greystar as the property manager to oversee operations at Wild Oak Apartments.

Powered by WPeMatico