It has become an annual, year-end, rite of passage: the countdown of our Top Moments of the past year. We began this fun tradition in 2013 and have full intentions of keeping it going for many years to come. (Well, mainly because it can get a little quiet around these hallowed F&C halls during the week between Christmas and New Year’s.)
So without further adieu, here’s the Top 10 Moments of 2015 for Flaherty & Collins Properties:
10. Downtown Terrace Opens, Impresses
Downtown Terrace, an affordable senior housing community in Petersburg, Indiana, held it’s grand opening in March and then promptly garnered national recognition as a finalist in the Affordable Housing Finance Reader’s Choice Awards. The project includes 42 affordable senior apartment homes and Good Samaritan Hospital serves as the anchor tenant, running an urgent care facility on the main floor that provides mental health service and a physician’s clinic.
9. The Heights Linden Square Opens in Gladstone
“This is an exciting time for the City of Gladstone,” said Gladstone Mayor Bill Garnos to those in attendance back in April. “Welcome to The Heights.”
With an estimated economic impact of $100 million over the next 20 years, roughly 400 new residents, comprised of young professionals and empty nesters, will come to call The Heights Linden Square home in the coming months and years.
“These new residents will serve to make up a strong urban core in downtown Gladstone, with disposable incomes to support local businesses,” said Flaherty & Collins Properties CEO David Flaherty. “Investing in projects like this not only benefits the residents of The Heights and nearby businesses, but it assists in providing a true identity for the entire community, one that has a ripple effect that resonates throughout Gladstone.”
Chalk full of resort-style amenities, the property boasts over 10,000 square feet of first floor retail that help to create an active, bustling and pedestrian-friendly city center.
“We needed to find ways to encourage people to invest in our community, to keep up with costs and keep our taxes reasonable,” said Gladstone City Manager Kirk Davis.“The Heights Linden Square represents part of a community vision for a downtown Gladstone.”
The Kansas City Business Journal wrote about how the project was set to transform Gladstone.
8. The Depot at Nickel Plate Opens, Spurs Growth in Fishers, IN
“It has been so exciting to see people walking around and enjoying downtown Fishers, and I couldn’t be more excited to celebrate the grand opening of The Depot,” says City of Fishers Mayor, Scott Fadness. “This is the project that started it all and continues to inspire further redevelopment of the Nickel Plate District.”
The Depot brought Fishers the start of a transformative and active downtown core, providing an upscale blend of residential and retail uses in a walkable, urban environment set in the emerging heart of downtown Fishers and 116th Street and Municipal Drive. The Depot at Nickel Plate and is one of the first developments in a series of projects to help transform downtown Fishers into a walkable, bike friendly hub of activity.
The project also won awards for interior design (Indy Chamber Monumental Award) and the OneZone Best New Construction Building for 2015.
“Being involved with the new commercial growth in Fishers has been exciting for us at Brixx Wood Fired Pizza,” says Jim Lessaris, Managing Partner of Brixx. “Our first Indy location, at The Depot at Nickel Plate development, and where we serve as the anchor commercial tenant, has been a great experience for us.”
7. Clark’s Crossing Opens in Vincennes
Clark’s Crossing, which features 47 unique affordable apartment homes, is an adaptive reuse of two historic buildings and opened to rave reviews last March. A collaborative effort between Myszak + Palmer, Flaherty & Collins Properties, Vincennes Community School Corporation (VCSC), The Vincennes Education Foundation and Vision Communities, the project involved the reuse of the old Clark Middle School and Adams Coliseum. Kuhl & Grant, LLP provided legal services and McKinley Development, LLC provided consulting services on the project.
The development used the sale of historic tax credits and rental housing tax credits to turn the two buildings into a senior living facility in the heart of downtown Vincennes. Additional funding was provided by HOME and Development Fund Loans. Flaherty & Collins Properties will manage the property.
6. F&C Gives Back
Flaherty & Collins Properties held it’s annual fundraiser in support of the Mozel Sanders Foundation Thanksgiving Day campaign in mid-November, and ended up donating nearly $4,000 to charity.
The Bake-Off, Pie Eating Contest and collection helped the Mozel Sanders Foundation reach their yearly goals. In addition, F&C provided various kinds of support to several groups throughout the year, which led to the Indiana Apartment Association (IAA) bestowing F&C with the coveted Gene B. Glick Spirit of Giving Award in September at the Awards of Excellence & Prodigy Awards celebration.
5. F&C Breaks Record at IAA Prodigy Awards
It was a very good year, indeed, Mr. Sinatra. At the 2015 IAA President’s Dinner in September, Flaherty & Collins Properties collected a record-breaking 11 awards, including:
Prodigy Award Winners:
- Axis – Best Mixed-Use Community
- The Depot at Nickel Plate – Community of the Year (New Development)
- Clark’s Crossing – Best Renovation Project
- The Landing – Best Apartment Community Designed for Tax Credit Affordable Housing
- RomWeber Flats – Best Apartment Designed for the Physically Challenged
- 16 Park – Best Green Community
- Westlake – Community of the Year (11 Years +)
- Riverwood – Best Brochure (Under 200 Units)
Awards of Excellence Winners:
- Flaherty & Collins Properties – Gene B. Glick Spirit of Giving Award
- Jill Meals-Herron – Donald J. Williams Volunteer of the Year
- Simon Diaz-DeLeon – Alberto Covarrubias Maintenance Supervisor of the Year
It was the second straight year we took home the most awards of any management company. In addition in 2015, Flaherty & Collins Properties also collected Monumental Awards for Axis (Achievement in Real Estate Development), The Depot (Interior Design). F&C Was also named to the Best of the Best lists for Construction, Owners and Management, as well as IBJ’s Largest Indianapolis-Area Construction Projects, Management Firms and Developers. In November, two Flaherty & Collins Properties developments took home Greater Cincinnati / Northern Kentucky Apartment Association (GCKNAA) awards, and the Indiana Housing & Economic Development team presented us with two Lt. Governor’s Awards for Excellence in Affordable Housing (Rural & Seniors).
4. The Breakwater Breaks Ground
Just a couple weeks ago we celebrated this fantastic new project in New Albany, Indiana – The Breakwater – which is set to help transform downtown.
The $26.5 million project, will include 191 luxury apartments and 1,650 square feet of retail space in downtown New Albany at the site of the former Coyle Chevrolet/Dodge, will take 18 months to complete, was assisted by a $3.3 million DINO tax credit from the Indiana Economic Development Corporation (IEDC).
“This is a very exciting day,” said New Albany Mayor Jeff Gahan at Wednesday’s groundbreaking ceremony. “This is a shining example of what we can do when we all work together.”
The project is expected to generate millions into the local economy from residents living at the site and creates 200 construction jobs over the next two years.
“It’s a great time to be in New Albany,” said Dr. Irving Joshua, president of the New Albany Redevelopment Commission. “It’s about location, location, location. New Albany has had the location for a long time, it just needed a vision. We have had a vision for the past decade and this is just another element of that plan.”
3. 2700 University Ready to Transform St. Paul, MN
2700 University, a $54 million mixed-use development along the Green Line in Saint Paul, Minnesota, broke ground in late June. The six-story building is beside the Westgate light-rail station and will have 248 apartments, 3,000 square feet of retail space and two levels of underground parking.
The project has been hailed from finance experts and architectural enthusiasts.
“In the future, University will become similar to Washington D.C.’s Orange Line,” says architect Tod Elkins of UrbanWorks. “New large retail and apartment developments have reinvigorated that transit way. I’m surprised University has taken as long as it has to take off, but sometime soon it will look that way, too.”
Moreover, 20 percent of the living units are designated affordable or “workforce housing,” Elkins says. “To me, workforce housing means for people who work in retail in front of the house, making $12 – $14 an hour. Or artists. Or not the lawyers, but the support staff in the office, along with recent college grads or empty nesters moving in from the suburbs. In other words, the people of the community.”
The project will open in late 2016.
2. New Projects Around The Country
Flaherty & Collins Properties development team has been working diligently throughout 2015 to announce new projects and bring others closer to formal announcement and groundbreaking stages.
Plans were announced in November on the project in Kokomo to redevelop the former Apperson Brothers factory and surrounding property into a luxury mixed-use apartment community to open in the Summer of 2017.
“Reusing the facade of this historic building preserves our history and provides much needed housing for our downtown,” said Mayor Greg Goodnight.
The conceptual plans call for a mixed use development which includes the repurposing of the existing factory building as well as additional new structures on the site to accommodate 198 luxury apartment homes and retail in an urban configuration. The community will feature resort style amenities that will support and activate the space around the new development, tying in closely with the baseball stadium and downtown, while supporting the housing needs the City of Kokomo has outlined in their master development plan.
In March, the Port Authority of Kansas City announced our project along the Riverfront near downtown Kansas City, a development dubbed Union at Riverfront Berkley Park. The $65 million mixed-use development is expected to break ground on the Missouri riverfront in 2016. Union will include studio, one bedroom and two bedroom luxury apartment homes averaging about 875 square feet. Apartments will lease for about $1.50 a square foot, or about $1,300 a month. Amenities probably will include a resort-style pool with sun deck, sky bar with views of downtown Kansas City and the river, a gaming lounge, a fitness club, indoor/outdoor yoga and Pilates studios, and a bicycle bar. The project also will include a Bike Room, where residents can work on and store their bicycles, a Kansas City Bicycle bike-share station and a pet wash area.
In November, the project received a major endorsement.
Late October brought the announcement of our project in Elkhart, Indiana, where a $25 million mixed-use project in downtown along the Elkhart River that features luxury residential apartments and retail space will take shape soon. The project will be developed on the former Elkhart Foundry site, which was demolished in 2010.
“Statistics show that over 25,000 people commute into Elkhart County every day for work, but don’t live there,” says Brian Prince, lead developer of the project for Flaherty & Collins Properties. “The goal of this development is to attract and retain some of those individuals so that they live, work and play in Elkhart. By adding density to the downtown area, we will bring in individuals who will pay local taxes and bring in more money to the economy.”
And of course, there is the exciting project in downtown Tulsa that could feature high-end apartments, a 35,000-square foot Reasor’s grocery store, parking and civic space specifically for the Tulsa Performing Arts Center (TPAC). Additionally, our affordable development team has projects in development around the nation and broke ground last spring on Historic Whitlock Place in Crawfordsville, Indiana.
Stay tuned for more information on these and other exciting projects in 2016!
1. 360 Market Square Breaks Ground
A project set to change the skyline of downtown Indianapolis, Flaherty & Collins Properties officially broke ground on the 28-story, $121 million mixed-use luxury residential apartment tower on the north parcel of the former site of Market Square Arena earlier this year. The development, at nearly 300 feet tall, will feature a 40,000 square foot Whole Foods Market®. The project was named 360 Market Square.
“This project will transform downtown living and add a bold new landmark to Indy’s skyline,” Mayor Greg Ballard said. “Urban residents want unique places to live, and this development delivers the type of architectural excellence that will help attract new people and companies to the thriving Market East District.”
Thanks for joining our countdown!