Mill Creek Announces Groundbreaking of 378-Unit Modera Gulch Mixed-Use Apartment Community Along Nashville’s Division Street

NASHVILLE, TN – Mill Creek Residential, a leading rental housing investor and operator specializing in premier rental communities across the U.S., announced the groundbreaking of Modera Gulch, a mixed-use apartment community located in a walkable locale along Nashville’s Division Street.
The 15-tale community, which will feature 378 apartment homes and approximately 18,000 feet of ground-floor retail space, is a key part of Mill Creek’s expansion into the city. Mill Creek officially entered the Nashville market in 2019 with a new regional office, and the company is currently developing a second luxury apartment community in the city’s Germantown neighborhood. First go-ins at Modera Gulch are scheduled for early 2023.
“Modera Gulch will benefit from its marquee location in the Gulch, unobstructed views of downtown, and immediate access to nearby employers and walkable retail,” said Luca Barber, vice president of development for Nashville for Mill Creek Residential. “The site’s proximity to Downtown and walkability to a multitude of attractions will make what we believe will set the bar for a quality living experience in one of Nashville’s most sought after neighborhoods. We’re extremely excited to continue building our presence in this dynamic city.”
Situated at 810 Division Street, Modera Gulch features unobstructed views of the city and future residents will be in immediate proximity to numerous boutique retailers, trendsetting restaurants, and major employers. The latter includes Amazon’s new Operations Center of Excellence, which is less than one mile from the community. The site’s Walk Score of 80 is considered “very walkable,” and other city attractions such as the Frist Art Museum, Country Music Hall of Fame and Nashville’s famed Lower Broadway, are among the attractions just a few steps away.
The community is also less than two miles from Nissan Stadium, home of the Tennessee Titans, which is located across the Cumberland River and adjacent to Downtown. Additionally, Capitol View, a 32-acre mixed-use urban district, is located just over a mile from Modera Gulch. The district includes 1.1 million square feet of Class-A office space, ample retail and an abundance of hotel and residential space.
Modera Gulch will consist of studio, one-, two- and three-bedroom homes with an average size of 901 square feet and will feature select den layouts. Community amenities will include an expansive 6th level amenity deck, outdoor swimming pool, rooftop dog park and observation deck, barbecue area with picnic tables, pet spa, clubhouse, game room, cyber café, conference room and coffee bar. A club-quality fitness center will include a yoga/Pilates studio, TRX system, individual training and additional user-friendly features. Residents will also have access to controlled-access garage parking, dedicated bike storage and additional storage.
Apartment interiors will contain a variety of luxe features, including stainless-steel appliances, quartz countertops, tile backsplashes, 42-inch custom cabinetry, pendant lighting, upgraded fixtures, programmable thermostats and in-home washers and dryers. Bathrooms will include double vanities, tile shower surrounds and linen closets while bedrooms will offer walk-in closets and built-in storage. Select homes will feature city or green-space views.
Modera Gulch will join Modera Germantown as Mill Creek’s first two ground-up developments within Nashville.

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Embrey Completes Sale of 286-Unit Gateway Arvada Ridge Apartment Community in Popular Denver Submarket of Arvada, Colorado

DENVER, CO – Embrey, a Texas-based diversified real estate investment company with a national portfolio, has sold its Gateway Arvada Ridge multifamily property in the Arvada submarket of the Denver MSA, Garret Karam, Chief Investment Officer for Embrey, announced.
The property was bought by The Praedium Group, a New York-based national real estate investment firm. Embrey Management Services has been retained to manage the property.
“This is a signature Embrey property in a highly desirable area that features luxury unit finishes such as quartz countertops, stainless steel appliances, large kitchen islands, walk-in closets, floor-to-ceiling windows and an expansive set of amenities for residents,” Jimmy McCloskey, Executive Vice President of Development, said.
The convenient community setting provides residents with a resort-style pool and spa, a two-tale clubhouse with game room and billiards, a fitness center with spin studio, a pet park and spa, and community grilling areas and a bike wash/repair shop.
Gateway Arvada Ridge serves a preference and need among those looking for multifamily homes on the westside of Denver. The community is adjacent to Arvada Ridge Station, which gives residents simple access to Union Station in downtown Denver and to the unique historic district of Olde Town Arvada and its wide array of restaurant, shopping and entertainment choices.

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Balfour Beatty Communities Expands Portfolio with Investment in 135-Unit Moretti Apartment Community in Upscale Birmingham Suburb

HOMEWOOD, AL – Balfour Beatty Communities, a national residential real estate investment and management company, recently bought an ownership stake in Moretti, a 135-unit apartment community located just outside of Birmingham in the upscale suburb of Homewood, AL.
Moretti offers one-, two- and three-bedroom units featuring open concept living and upscale kitchens. The property s amenities include a saltwater pool, outdoor lounge and fire pit, fitness center and clubhouse.
This acquisition aligns with our approach of investing in quality housing with access to jobs and an employment base that are in high demand, said Mike Price, SVP of Acquisitions for Balfour Beatty Communities. Our attention to operational detail combined with targeted renovations and added amenities will position this asset to deliver an exceptional living experience to residents.
Balfour Beatty Communities joins co-owner ApexOne Investment Partners who bought the property in May 2020. Balfour Beatty Communities has been providing property management services to the community since that time and will continue in that capacity.
Moretti has significant value-add potential and there are a numbers of premium renovations already underway, including enhancements to the pool area and landscaping. Future plans include fitness center upgrades, renovations to the clubhouse/community management office, a new dog park, and installation of smart home technology.

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