The University of Rhode Island (URI) and Gilbane broke ground Wednesday on the first of three new on-campus residence facilities in Kingston, RI. Through a public-private partnership, Gilbane will develop and build two new residence halls with apartment-style suites on Flagg Road, located on the northwest side of campus, and reconstruct the Graduate Village Apartments complex for graduate students on Route 138.
When completed, the new residence facilities will add more than 1,100 beds to the Kingston Campus by the fall of 2028, URI said. “Today’s groundbreaking advances URI’s plan to modernize on-campus housing and deliver more than 1,100 new beds that strengthen the student experience,” said Gilbane Development president and CEO James Patchett, who hosted the Jan. 28 groundbreaking with URI president Marc Palange.
The P3 structure involves URI, Gilbane and a nonprofit borrower, Provident Resources Group, Inc. Raymond James served as the underwriter for the tax-exempt bond financing.
Pictured: James Patchett (at podium) and Marc Palange.
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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