COVER STORY, DECEMBER 2004

HOME SWEET HOME
With prime locations and first-rate amenities, today’s multifamily developments are designed to be more than just places to live.
Lara Fuller

Whether affordable or luxurious, the new multifamily projects being developed across the Northeast offer a range of unique amenities and features. From city skyline views to an indoor oasis, these projects not only fill the need for new housing, but also satisfy the need for a distinct place to call home.

Montgomery Greene
Jersey City, New Jersey

KOR Companies and Time Equities are developing Montgomery Greene in Jersey City, New Jersey.

The Gold Coast of New Jersey will soon be home to a new luxury condominium project, Montgomery Greene. The project offers exceptional views — everything from Manhattan to Liberty State Park to the Hoboken riverfront. A 2,600-square-foot landscaped deck is located on the roof of the 19-story tower where residents can look out on New York Harbor and Manhattan. In addition to offering breathtaking views of New York, the development is also in close proximity to the city. Montgomery Greene is located on the corner of Montgomery and Greene streets in Jersey City, 1 mile from the New Jersey Turnpike. The Newark-Liberty International Airport is only 20 minutes away, and train and ferry access to Manhattan is nearby.

“This is a well-designed product for suburban move-downs who want to get back to the city and urban professionals who want luxury ownership at less than Manhattan prices,” say Harry Kantor, president and chief executive officer of KOR Companies, and Francis Greenburger, chairman and chief executive officer of Time Equities.

The $50 million project includes 113 units, 4,000 square feet of retail space and a three-story parking garage. There is also an exercise room and an event room for social functions, 24-hour concierge service, loading dock, terraces and additional storage.

KOR Companies of New Jersey and Time Equities of New York are joint developers of the project; Lindemon Wincklemann Deupree and Martin is the project architect; Jeffrey Brown Associates is handling general contracting; and CSR Group is the construction consultant.

“Montgomery Greene is that rare opportunity whereby the best metropolitan location for transit alternatives to the city and the region sets the stage for a high-end product finish that’s a true bargain compared to Manhattan prices,” say Kantor and Greenburger.

The Residences
Medford and Franklin, Massachusetts

Boston-based Abbott Real Estate Development is currently underway on two Massachusetts projects, The Residences at Wellington Place and The Residences at Union Place.

Abbott Real Estate Development is developing The Residences at Wellington Place at One Brainard Avenue in Medford, Massachusetts.

The Residences at Wellington Place is located at One Brainard Avenue in Medford. “The site was formerly an industrial site and we converted it to residential use,” says James McAuliffe, principal with Abbott Real Estate Development. “The project is located adjacent to the Orange Line MBTA (Massachusetts Bay Transportation Authority) stop in Medford called Wellington Circle.” In addition to being situated near the train line, The Residences at Wellington Place is also located within walking distance of theaters, restaurants, grocery stores and retail shopping.

Construction began on the 166,223-square-foot project in December 2003 and is scheduled to be completed in June 2005. When finished, the $34 million development will feature 137 units in three, four-story buildings. Amenities include 24-hour security, a clubhouse with pool, exercise room and parking.

The Residences at Union Place in Franklin is similar to the Medford project in its design, which follows a New England architectural style. “As with the Wellington project, the units will feature large windows to allow lots of sunlight into the apartments,” says McAuliffe. The amenities at Union Place are also comparable to those at Wellington Place. The $48.3 million project features 24-hour security, landscaped grounds, clubhouse and pool, exercise room and parking. The project is also located near retail stores and restaurants. One of the major differences between the two projects is their size. The Union Place development features 300 apartments and is 350,000 square feet.

Construction began in August with completion scheduled for August 2006. The project architect is Sheskey and Associates of Quincy, Massachusetts.

The Tower at Carnegie Abbey
Newport, Rhode Island

The Tower at Carnegie Abbey, a planned high-end condominium development, was originally a run-down industrial building. J. Brian O’Neill, founder and chief executive officer of O’Neill Properties Group, came across the dilapidated shell of the 220-foot tall Kaiser Aluminum Factory tower while golfing at the Carnegie Abbey sporting club in Rhode Island. His vision was to transform the building into a luxury condominium development, which he is doing along with Peter de Savary, founder of the Carnegie Abbey Club. Together O’Neill and de Savary have created a plan for a 15-acre property featuring an 18-story tower surrounded by luxury cottages. Construction began this fall on the 24 Grecian-style cottages that will surround the base of the Tower. Construction on the Tower at Carnegie Abbey itself will begin in February, with completion scheduled for early 2006.

O’Neill Properties Group is converting a run-down industrial building in Newport, Rhode Island, into The Tower at Carnegie Abbey, a high-end condominium development.

“The previous industrial use of the Tower now provides a unique standard of stability, permanence and substance,” say O’Neill and Stephen Corridan, partner and project manager with O’Neill Properties Group. “The Tower’s construction design creates wide, open floorplans with ocean views from every residence, as well as the pastoral natural landscape and hand-built stone walls of the Carnegie Abbey Club.” The 65 units of the Tower feature 10- to 12-foot ceilings, in addition to floor-to-ceiling windows and balconies offering views of Carnegie Abbey’s golf course and the ocean.

Residents of the resort-style community will also be able to take advantage of what the Carnegie Abbey Club has to offer. The private sporting club is located on the edge of Narragansett Bay and features a Scottish links-inspired golf course, yachting, a spa, equestrian facilities, and upland and coastal trails.

Multiple companies are involved in the development of the $133.2 million project, including Burt Hill Kosar Rittelmann Associates, Odeh Engineers, Richard D. Kimball Co., Northeast Engineers and Consultants, Ralph Lauren Home, LandWorks Collaborative, Gibson and Associates Architects, and Newport Collaborative Architects.

The Residences at Christiana Landing
Wilmington, Delaware

New Castle, Delaware-based Buccini/Pollin Group is currently underway on The Residences at Christiana Landing near downtown Wilmington, Delaware. The project is part of the redevelopment of the city’s riverfront area. The city of Wilmington has plans to renovate the surrounding streets and bridges and to construct a riverwalk connecting The Residences at Christiana Landing to a 2-acre park.

The 8-acre project is located along the Christiana River, and when completed will include 63 townhomes, 173 apartments and 150 condominiums. The project is being designed to feel like an urban park, with green space between the townhomes, the 22-story apartment tower and the 22-story condo complex. The one-, two- and three-bedroom units at The Residences will offer residents views of the riverfront and downtown Wilmington.

The development will be surrounded by the river and park space, but is also located near the center of downtown Wilmington. The Residences is a half mile from Interstate 95 and is near Wilmington’s Amtrak station. In addition to a central location, the project features a fitness center, convenience store, dry cleaning services and on-site parking.

Construction of the apartment tower is already underway, with completion scheduled for winter 2005. Construction of the condo tower and townhomes will begin in January 2005.

23
Philadelphia

At 23 in Philadelphia, the building’s core was removed to allow for a 75-foot by 75-foot open interior courtyard.

One of the most distinct aspects of the 23 project in Philadelphia is its design. The building was originally an AAA parking garage and was transformed into an 85-unit multifamily housing development. “The structure’s core was removed to allow for a 75-foot by 75-foot open interior courtyard that will house glass-backed elevators and a six-story trellis, vertically landscaped with pre-planted exotic vines, flowers and miniature shrubbery,” says John Turchi, founder and president of Philadelphia-based Turchi Properties, the company that is developing, building and managing the project. The courtyard will also contain seating areas with fountains and waterfalls, all designed to offer residents their own “urban oasis,” says Turchi. All of the units will overlook the courtyard and some will feature balconies.

The exterior of the building, dating back to 1912, will be covered in limestone imported from France. Cope Linder Architects of Philadelphia is serving as project architect for the development.

Turchi Properties has converted an AAA parking garage into an 85-unit condominium project called 23. The project is located at 23 South 23rd Street, between Center City and the University City district of Philadelphia and adjacent to the Schuylkill Riverfront.

In addition to being unique in design, 23 also boasts a unique location. The project is located at 23 South 23rd Street, between Center City and the University City district of Philadelphia, and is adjacent to the Schuylkill Riverfront, a 200-acre redevelopment project. The Schuylkill Riverfront is a mixed-use project featuring residential housing, retail stores, office space, restaurants and pedestrian bridges to link Center City to the University City area. The 23 project is also located near the 30th Street station, the second-largest rail hub in the country.

The $70 million project will offer residents 24-hour concierge service, security service, full-time valet, an onsite maintenance staff and a snow melting system to heat the sidewalks.

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