Alliance Residential Company closed on 18.67 acres of land located at 1730 Clements Ferry Rd., Charleston, South Carolina, for the development of MAA Point Hope. This 336-unit apartment community is located within the master planned community of Point Hope, a 9,000-acre property within close proximity to Daniel Island within the City of Charleston. For MAA Point Hope, Alliance Residential is partnering with MAA, a real estate investment trust (REIT).
MAA Point Hope will be just a short walk from a Publix supermarket, medical and dental providers, and veterinary care. The community offers numerous dining options. Point Hope is also within a ten-mile radius of major retail destinations, including Tanger Outlets Charleston and Mount Pleasant Towne Centre.
MAA Point Hope will include six three-story and two four-story residential buildings, as well as a freestanding clubhouse. Community amenities will include a resort-style pool, pet park/dog wash, outdoor kitchen, grill station, private co-working rooms, fitness center, clubroom, and game room.
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The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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