Breaking Ground of $109M Mixed-Income Washington, D.C. Development

 

This week, Flaherty & Collins Properties and our development partner, AEDC, officially broke ground on The Residences at St. Elizabeths East, a $109 million dollar mixed income housing apartment development in Ward 8 in Washington, D.C. at the site of the former St. Elizabeths Hospital East Campus.

The Residences at St. Elizabeths East will consist of a total of 252 units, 202 affordable apartment homes available at 50 percent of the area median income (AMI), and 50 market rate apartment homes, presenting a unique 80 percent affordable, 20 percent market rate, mixed-income product.

“We are excited to officially break ground on this transformational project for the St. Elizabeths campus and the Ward 8 neighborhood,” says Duane Miller, Vice President of Community Development and Asset Management for Flaherty & Collins Properties. “This project has been years in the making, and through a lot of hard-working partnerships, we have all been able to make this project a reality.”

“The quality of the development at The Residences at St. Elizabeth East will connect, activate and enhance the relationship of the campus to the community and the community with the campus, creating a shared quality of life experience for all,” says Stan Jackson, President and CEO of AEDC.

At 183 acres, St. Elizabeths East is the largest remaining undeveloped parcel in the District of Columbia. The Residences at St. Elizabeths East project, as a part of Phase 1 for the East Campus’s redevelopment, will be part of a larger vision for the St. Elizabeths East Campus and will serve as a holistic community revitalization effort, combining business, research, higher education, and entertainment. This includes the new $65 million Entertainment & Sports Arena, an 18,000 square foot center that holds 4,200 guests and serves as the home of the WNBA Washington Mystics and Capital City Go-Go of the NBA G League.

The development will be made up of the seven historic buildings on CT Campus, all of which are currently vacant. The seven buildings are interconnected and are situated in an oval pattern, with one central building surrounded by the remaining six.

The Residences at St. Elizabeth’s East will offer larger units that cater to family needs and will provide opportunities for local entrepreneurs to offer services to the residents and be a part of the neighborhood revitalization.

This housing will be a catalyst for clean and safe housing in the East of the River and Anacostia neighborhoods, and will provide critical population density for the St. Elizabeths East Campus’s early success. The project’s income mix will attract an array of DC’s citizens to the campus for living, working, and community building.

The Residences will be authentic to the district’s rich heritage and will be focused around the active lifestyle of the Congress Heights burgeoning community. Features and amenities include a clubroom, large four seasons room, fitness area, secured exterior community area including a playground, recreational area, and outdoor grilling area, secured parking and onsite leasing center. Apartments will include granite countertops, high grade appliances and smooth top ranges.

The project has drawn a variety of financial sources, including Low Income Housing Tax Credits, Historic Tax Credits, TE Bonds, Deferred Fee, Seller Financing, and DC DHCD funds.

Project partners include the District of Columbia, Events DC, LISC, District of Columbia Housing Finance Agency, R4 Capital, Department of Housing and Community Development (DCHD), Office of the Deputy Mayor for Planning and Economic Development (DMPED), and the Entertainment & Sports Arena.

Cunningham Quill is the project architect, while GCS Sigal main construction subcontractor, while Flaherty & Collins Construction is the general contractor. The project, at 342,585 gross square feet, plans to be completed by the December 2020.

Event Recap: Annual Mozel Sanders Foundation Day of Giving

For the seventh year in a row, the corporate team at Flaherty & Collins Properties held fun contests, events and a donation drive as part of a day of giving with the Mozel Sanders Foundation.

“What Mozel Sanders does in the community is a vital part of Central Indiana, and we’re happy to support their cause,” said Jerry Collins, President and Co-Founder of Flaherty & Collins Properties, while presenting the foundation with a check and a sample of the F&C donation.

And what Stephanie Sanders and the team at Mozel Sanders Foundation do each year is feed 40,000 throughout Central Indiana on Thanksgiving – in addition to distributing bags of goods and groceries each and every month to those in need.

Each year, F&C’s corporate team ups the ante, and this year was no different, holding two events at our corporate office – a Pumpkin Carve-Off and Chili Cook-Off. Winners were selected by “celebrity” judges Concetta Lorah, Director of Events & Expositions for the Indiana Apartments Association, La Keisha Jackson, Pathway Resource Center & Indianapolis City Councilwoman and Stephanie Sanders, Mozel Sanders Foundation chairwoman, along with her son, Stefan.

A great time for a great cause! Our winners were:

The Pumpkin Carve-Off

Gavin Greene (Property Management / IT) – 1st Place

Josh Marsh (Construction) – 2nd Place

Dawn Coyle (Corporate Compliance) – 3rd Place

The Chili Cook-Off

Grand Champion – Lisa Berry (Corporate Compliance)

Hottest Chili – Grante Manning (Corporate Accounting)

Best Taste & Overall Flavor – Teisa Ward (Amber Woods)

Mozel Sanders Foundation goal is to raise $100,000 in their annual Thanksgiving Day campaign. You can learn more and donate by visiting https://www.mozelsanders.org/.

Grand Opening of Union Berkley Riverfront in Kansas City

This week, Flaherty & Collins Properties proudly held the grand opening of Union Berkley Riverfront. The event drew project partners from the Port KC and the City of Kansas City, and the ribbon was officially cut signifying the opening of this game changing project along the riverfront, just blocks from downtown Kansas City.

Union is truly a sight to behold. Situated on the Missouri River and Berkley Riverfront park, Union is a transformative, $ 72 million mixed-use luxury apartment development that includes 410 market rate luxury apartments and 12,400 square feet of retail space. A secure parking garage featuring 443 parking spaces, to be used by residents and retail customers.

“The new Union Berkley Riverfront development is exactly what Kansas City needs to help welcome new residents, visitors and tourists to our beautiful riverfront,” said Mayor of Kansas City, Sly James. “This exciting new community will be an asset to downtown Kansas City, and an anchor for future projects.”

Union offers residents and guests gorgeous, panoramic views of downtown and direct access to the riverfront park area. These amenities will support and activate the Berkley Riverfront greenspace next to the Missouri River and meets the goals that Port KC had in mind when they identified the project.

“The opening of Union Berkley Riverfront marks a significant point in our city’s history as we bring people back to its origins – our beautiful riverfront,” said Zoraya Rowlands, Interim President & CEO of Port KC. “We couldn’t have asked for a better partner in Flaherty & Collins for this first development project at the riverfront. Union reflects their commitment to bring world class, luxury living to Kansas City’s front door.”

The grand opening event showcased what residents will enjoy: a ton features and amenities that include a 1st floor bar and coffee shop featuring complimentary Topeca® coffee served by an on-site barista. The project includes high speed Wi-Fi throughout, 24-Hour secure Package Center access, and The Library serves as a co-working and private conference space. The development offers residents a private demonstration kitchen and group dining area, three hotel-style guest suites, as well as an outdoor screening lawn. A state-of-the-art 1,600 square foot Fitness Center will include a yoga studio, and other fitness options include a Group Cycling Studio and a Connexus Free Functional Training System.

Outdoor amenities include a resort-style, heated saltwater pool with wet deck and waterfall feature, plus over 20,000 total square feet of private courtyard space with an Outdoor Living Room featuring fire pits, grills, furniture and Pickle Ball court. And Union, a pet-friendly community, also features a 1,600 square foot private and elevated Bark Park with a Dog Spa and a Dog Park Express Course that includes a water station and waste area. The Bike Lounge amenity features bike storage with repair tools, stands, TVs, post work-out relaxation area, ping pong, and self-serve beer tap.

“Union truly epitomizes modern urban living, and it has the most unique location, with great visibility to both the downtown Kansas City skyline and the river and bridge views are fantastic,” says Ryan Cronk, Vice President of Development and lead project developer. “When you add in the location to the park and all the amenities that Port KC are bringing to the area, it is an immersive living experience for our residents – a combination of being downtown, but having green space as well.”

Apartments will include 100 percent LED lighting, Lyric Smart Thermostats, and luxury wood-style flooring in kitchen, entry and living area. Kitchens feature oversized, flat slab cabinets with custom hardware. In addition, apartments will feature premium carpet in bedrooms, oversized energy efficient windows, front load, full size GE, Energy Star rated washer and dryers, and quartz countertops, plus luxury features including frameless shower doors and recessed, decorative patios or balconies. Union also features eight penthouse units with upgraded finish packages.

The project, at 664,812 total square feet, began construction in late November 2016, is developed and managed by Flaherty & Collins Properties, financed by TCF Bank and was constructed by MW Builders. Learn more by visiting www.unionbp.com.

Whole Foods Market Opens at 360 Market Square

This week, Whole Foods Market opened its doors to customers for the first time. First customers were greeted with gift cards, fresh coffee and bread samples, as well as the first 500 receiving gift cards ranging from $5-$50 in value, with one lucky recipient getting $500.

The 40,000 square-foot grocery store at 320 E. Market Street, part of Flaherty & Collins Properties 360 Market Square project, opened at 9am Wednesday, March 21. The store features a tap room with 20 Indiana beers on tap, a coffee bar, an assortment of Japanese-American mochi ice cream, pizza, a salad bar and a hot foods bar, and more than 100 varieties of cheese.

 

The store also includes Amazon lockers.

CHECK OUT THE WHOLE FOODS INDIANA INSTAGRAM ACCOUNT HERE

This is the fifth Whole Foods in the state. As part of Whole Foods commitment to the area, they have several planned 1% Community Days, where one percent of that day’s net sales are donated to local non-profits or educational organizations.

  • Wednesday, March 21 – City Market
  • Thursday, March 22 – Wheeler Mission
  • Friday, March 23 – Keep Indianapolis Beautiful
  • Saturday, March 24 – Indianapolis Public School Education Foundation
  • Sunday, March 25 – IndyCog

You can visit the store website HERE to learn more.

The Yards Breaks Ground in Kansas City Stockyards District

KANSAS CITY – Flaherty & Collins Properties broke ground this week on The Yards, a $41 million mixed-use, luxury residential apartment development in the Kansas City Stockyards District.

The Yards, the biggest mixed-use residential project in the Stockyards District, will consist of 232 luxury market rate apartment homes and 3,150 square feet of commercial retail space and over 9,500 square feet of amenities.

“It’s important to the city that the Stockyards District has developments like this, where people can live and engage in the community,” said Kansas City Mayor Sly James. “We want to keep the artistic aspects, but also grow this area and bring the light rail transit to connect this area with downtown.”

“This project, much like what Flaherty & Collins Properties has done with the Union Berkley Riverfront site, will serve as a catalyst of growth and development in the Stockyards District,” said City Councilman Scott Taylor.

Comprised of studios, one and two-bedroom apartment homes, The Yards development – designed by Kansas City architecture firm KEM Studio – will be authentic to the district’s rich heritage by stitching together the iconic, modern Kemper Arena and the historic Livestock Exchange building. The Yards will be focused around the active lifestyle currently found in the Stockyards District, with access to the levy, Kansas River and trails.

“We look at the stockyards as a crown jewel for the long term in the Kansas City market,” says Ryan Cronk, Vice President and lead project developer for Flaherty & Collins Properties. “The Stockyards is transforming with restaurants, bars and art galleries. We don’t view it as pioneering as some people do. We think the Stockyards is going to be a fantastic neighborhood. It’s got a great vibe today and will continue to be.”

Bill Haw, owner of the Livestock Exchange Building and surrounding properties, is the seller of the land on which the apartments will be built.

“We are delighted that a developer of the reputation of Flaherty & Collins Properties recognizes the potential of the Stockyards District,” says Haw. “They will be a perfect fit with the commercial, entertainment and sports facilities springing up around the Livestock Exchange Building. Our confidence in the project is reflected in our willingness to participate in the financing of the apartments.”

The Stockyards District, home of the Livestock Exchange Building, once saw 66,000 head of cattle per week come through the stockyards.

 

The Livestock Exchange Building, which will be next to The Yards, was completed in 1911 and was the largest livestock exchange building in the world. It is listed on the National Register of Historic Places.

Across the street is the former Kemper Arena, which is undergoing a $39 million renovation into a youth sports complex. Kemper Arena is also listed on the National Register of Historic Places, and hosted the 1988 NCAA Men’s Basketball Final Four, as well as the 1976 Republican National Convention. The Kansas City Kings (NBA) played in the arean from 1974-1985, when the team moved to Sacramento. As recently as 2004, it hosted an NCAA first and second round.

Residents of The Yards will enjoy nearly over 9,500 square feet of amenities. The Yards will feature a communal lounge and co-working area, saltwater pool and outdoor living and kitchen area, a community demonstration kitchen, an activity lounge and Fitness Center featuring Fitness OnDemand®, Bark Park and a Skydeck with panoramic views of downtown Kansas City. The Yards will be focused on custom service to their residence, featuring morning coffee service and other hotel-like amenities.

Apartments will include Euro-style kitchens with tile backsplashes, mudroom, mobile islands with quartz countertops, stainless steel appliances, smart thermostats, and LED lighting throughout.

Financial project partners include Citizen’s Bank & Trust, Equity Bank, First National Bank, and The Livestock Exchange. Additional project partners include: KEM Studio (architect), Landform (civil engineers) and Apex Engineers (structural engineers). MW Builders is the general contractor. The City of Kansas City (Missouri) and the Economic Development Corporation of Kansas City (EDCKC) have also been integral project partners.

The project, at 247,597 square feet, plans to be completed by the Summer of 2019. Learn more at www.theyardskc.com.