RiverHaus Ground Breaking in Covington, KY

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We had the pleasure of heading to Covington, Kentucky this week for the groundbreaking of our newest mixed-use, luxury apartment development – RiverHaus.

A $50 million mixed-use, luxury residential apartment development at the former site of Mainstrasse, RiverHaus consists of 192 luxury market rate apartment homes and 3,100 square feet of retail. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Northern Kentucky market.

Mayor Joseph Meyer

“This project is going to build on and add to the quality of life here on Mainstrasse,” said Covington Mayor Joseph Meyer.

Residents will enjoy nearly 7,000 square feet of amenities, including an amenity courtyard, featuring fire pits, bar, lounge areas, grilling station, and saltwater pool with a large wet deck. A sky deck will give residents views of the Covington and Cincinnati skyline. Interior features include a coffee lounge, club room, conference room, pet wash, bike storage and repair, gaming and study lounge and 24-hour fitness center featuring Fitness OnDemand®. The project includes a guest suite and concierge services.

“Everyone who lives in Covington will benefit from the impact this development will have,” said Flaherty & Collins Properties CEO David Flaherty.

Apartments will include polished quartz kitchen countertops, cultured marble vanity tops with integral sinks, tile backsplash in kitchen, stainless steel appliances, undermount faucets and sinks, LED lighting in entries, kitchens, bathrooms and closets.

“This project has been the vision of the city of Covington and we couldn’t have done it without them,” said Flaherty & Collins Properties lead project developer Deron Kintner. “We are very excited to partner with the City of Covington on this fantastic new mixed-use development, which we believe will be the destination for luxury urban living in Covington.”

RiverHaus Breaks Ground

TCF is providing the construction loan for the project. Core Real Estate Capital provided additional financial support of the development.

PACE Equity, the leading project developer and funder of CPACE (Commercial PACE) projects on a national basis, is providing approximately 10% of total development funding, at $4,400,000, for RiverHaus. The project represents an exciting milestone as the largest PACE multifamily new construction project nationally. TCF Bank is the major funding bank on the development.

“This project is the largest new construction multifamily project on a national basis to utilize PACE financing, which is very exciting,” Beau Engman, PACE Equity Founder & President. “It’s always great to see PACE utilized to transform a vacant lot into such a fantastic project for the area.”

Additional project partners include PDT/SFA Architects, Civil & Environmental Consultants, Inc., and Harrison Lynch & Brumlee. Flaherty & Collins Construction is the general contractor.

The project, at 341,925 square feet, plans to be completed in 2019.

Breaking New Ground – Stonewater at the Riverwalk in Elkhart

This week, F&C descended on Elkhart to break ground on Stonewater at the Riverwalk, a $32 million mixed-use development of luxury apartments and retail located in downtown Elkhart at the site of the former Elkhart Foundry. And our crew couldn’t have been happier with the excitement surrounding the project.

Stonewater at The Riverwalk will consist of 205 luxury market rate apartment homes and 6,300 square feet of retail space. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Elkhart market.

“We are very excited to partner with the City of Elkhart on this new mixed-use development, which we believe will be the destination for luxury urban living in Elkhart,” says Brian Prince, lead developer for Flaherty & Collins Properties.

Residents will enjoy over 6,800 square feet of amenities, including an amenity courtyard featuring fire pits, bar, lounge areas, grilling station and saltwater pool with a large wet deck. Additionally, the project includes a coffee lounge, conference room, pet wash, fireplace lounge, community demonstration kitchen, bike storage and repair, plus a gaming and study lounge. A 24-hour fitness center featuring Fitness onDemand® will be available for residents as well as concierge services.

In a release prior to the event, City of Elkhart Mayor Tim Neese talked about what a boon the project will be for the Elkhart.

“In addition to business attraction and retention, housing is an important component of the city’s economic development strategy,” said Mayor Neese. “Without adequate housing, the population of our city increases daily and declines in the evening, as employees return to their homes in adjacent communities and spend their hard-earned money dining and shopping elsewhere. The addition of 205 downtown units in Elkhart will help to capture a portion of that population, resulting in new income, property and sales tax revenue. We hope that this will be a catalyst for future development projects citywide and will welcome more people to live and invest in the city of Elkhart.”

Apartments will include cultured marble vanity tops with integral sinks, stainless steel appliances, washer and dryer, undermount faucets and sinks, as well as LED lighting in entries, kitchens and bathrooms.

Project partners include CSO Architects, American Structurepoint (Civil Engineer) and Lynch, Harrison & Brumleve, Inc. (Structural Engineer). Financing provided by First Source Bank. Flaherty & Collins Construction is the general contractor.

The project, at 237,337 square feet, plans to be completed by the Spring of 2019.

The Arbuckle Breaks Ground in Brownsburg

BROWNSBURG, IN – Flaherty & Collins Properties has officially broken ground of The Arbuckle, a $40 million mixed-use, luxury residential apartment development at Arbuckle Park in downtown Brownsburg. In a ceremony held Wednesday, August 23, members of the Brownsburg Town Council, the Redevelopment Commission and Flaherty & Collins Properties came together to officially turn dirt on the new project.

The Arbuckle will consist of 208 luxury market rate apartment homes. Comprised of studios, one and two-bedroom apartment homes, the development will boast the finest amenities in the Brownsburg market.

“We are overjoyed that F&C has chosen to be a part of our community and our town of Brownsburg,” says Grant Kleinhenz, Town Manager of Brownsburg. “This public-private partnership will transform North Green Street into a vibrant, pedestrian-friendly economic center and a more welcoming downtown. This is only the beginning.”

“This development will help take Brownsburg to a whole new level,” added David Flaherty, CEO of Flaherty & Collins Properties. “We wouldn’t be here if Brownsburg hadn’t been investing so greatly into its community. This vision of a walkable, bikable, connected society is what we’ve had, and today you see that vision coming to fruition.”

Residents will enjoy nearly 7,000 square feet of amenities, including a courtyard with fire pits, bar area, grilling station and saltwater pool with a large wet deck. Paved terraces will also be present throughout the property. Interior features include a coffee lounge, fireplace lounge, conference room, pet wash, bike storage and community demonstration kitchen. A gaming and study lounge will also be available to residents looking to relax and unwind. A 24-hour Fitness Center featuring Fitness onDemand® will be featured on the main ground floor, and the project will feature a guest suite.

Learn more by visiting ArbuckleApts.com or reach out to the site at TheArbuckle@flco.com.

2700 University Unveiled in Grand Opening Ceremony

On Tuesday, Flaherty & Collins Properties officially cut the ribbon and opened our latest project, 2700 University, in Saint Paul. The project, a $54 million mixed-use, transit-oriented luxury residential apartment development near the Green Line Westgate Light Rail Transit station, features 248 luxury apartments, with 80% of the apartment homes set for market rate and 20% for affordable.

We were joined and honored to have City of Saint Paul Mayor Chris Coleman as our primary guest speaker. Mayor Coleman spoke highly of the project and the need for affordable housing that new residents will be proud to call home.

City Council President Russ Stark congratulated team members on a job well done, remarking about how wonderful the project was and what it meant to the community.

Other guest speakers included Michele Smith, Minnesota Field Office Director for HUD, Pam Daniels-Halisi (BMO) and our own lead developer on the project, Ryan Cronk.

The event featured local brews, Topeca coffee (the future retail tenant at 2700) and music by the Ned Canter Trio. And of course, with it being December in Minnesota – we had to do an ice sculpture!

Many of the F&C team traveled up for the festivities and can state with first-hand experience, the Light Rail Transit system is the way to go (it helped us catch our flight home)!

We’d like to thank all our guests, as well as our project partners – LISC, HUD, NEF, The Met Council, the City of Saint Paul, BMO, Landform, Kraus-Anderson, and Urbanworks for a terrific, powerful project.

Residents of 2700 University will enjoy features and amenities that include: A first floor bar/coffee shop; high speed Wi-Fi throughout; a state-of-the-art 1,400 square foot fitness center featuring Matrix Fitness equipment, a yoga studio, and Matrix® MyRide+ Group Cycling; a year-round, resort-style heated saltwater pool with wet deck, and a hot tub with a heated deck; a 20,000 square foot courtyard; an Outdoor Living Room with fire pits, commercial grade grills, and outdoor furniture; a 1,600 square foot Bark Park with a Dog Park Express Course including a water station and waste area; bike storage with repair tools, stands and pumps; and underground parking.

Apartments will include: 100% LED lighting; luxury wood-style flooring in the kitchen, entries, and living area; oversized flat slab kitchen cabinets with custom hardware; premium carpet in bedrooms; oversized energy efficient windows; front load, full size Energy Star-rated washer and dryers; quartz countertops; Nest® thermostats; frameless shower doors; and recessed/decorative patios or balconies.

Learn more at www.2700university.com.

Union Berkley Riverfront Park Breaks Ground in Kansas City

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On Tuesday, Flaherty & Collins Properties broke ground on Union | Berkley Riverfront Park in Kansas City, Missouri. The exciting project, developed by Flaherty & Collins Properties, is a mixed-use development along the Missouri River just blocks north of Downtown Kansas City.

You can read more about the project in our press release. And visit www.unionbp.com for more about the features and amenities of the project.

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We set up the site and prepared for a great morning with our project partners from Port KC, TCF, First Merchants Bank, Citizens Bank & Trust, Parse Capital, Landform and Cuningham.

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“We are excited to begin construction on this transformative property for Berkley Riverfront Park and Downtown Kansas City,” said Ryan Cronk, Vice President of Development for Flaherty & Collins Properties. “We believe this project, with quality housing that supports the growing Riverfront area, is another component that will continue to build on the thriving downtown of Kansas City. We have great partners with the Port KC team and can’t wait to showcase this project.”

The $72-million mixed-use development consisting of 410 luxury apartments and 12,400 square feet of retail space. A secure parking garage featuring 400 parking spaces, to be used by residents and retail customers, will be housed on property.

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Former Mayor Berkley (which Riverfront Park is named after) joined the festivities and celebrated the project. The development is just the beginning for the plans the Port KC team have envisioned for the Riverfront area.

“Port KC is very excited to have such tremendous partners in Flaherty & Collins Properties, building our first mixed-use development at Berkley Riverfront Park. Our partnership, from day one, has been focused to on fulfilling the vision of creating a vibrant new community along our waterfront,” said Michael Collins, President and CEO of Port KC.

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“It’s truly humbling knowing we can address so many desires today,” Collins said at the event. “We’re building a story.”

The project is chalk full of cool amenities and features – just check out the design and open space in the Club Room area:

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Residents of Union will enjoy features and amenities that include a 1st floor bar/coffee shop, high speed Wi-Fi throughout, and a state-of-the-art 1,600 square foot Fitness Center with yoga studio. Also included in fitness options is a Group Cycling Studio. Union will showcase a year-round, resort-style, heated saltwater pool with wet deck and hot tub, plus 35,000 total square feet of outdoor courtyard space with an Outdoor Living Room featuring fire pits, commercial grade grills and outdoor furniture. A pet-friendly community, Union features a 1,600 square foot private and elevated Bark Park with a Dog Park Express Course that includes a water station and waste area. The Bike Shop amenity features bike storage with repair tools, stands, TVs, post work-out relaxation area, ping pong, and beer tap.

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

Apartments will include LED lighting, with 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 Energy Star rated washer and dryers, and quartz countertops, plus luxury features including Nest® thermostats, frameless shower doors and recessed/decorative patios or balconies. Union will also include three furnished guest suites.

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Construction will occur over an 18-month period. Union expects to see first residents move-in mid-2018.

Learn more about the project at www.unionbp.com!