News: Brokerage

SWBR selected as architect for Charlotte Street redevelopment; Home Leasing - developer and manager of Charlotte Square

Rochester mayor Lovely Warren revealed the selection of Home Leasing as the developer of the Charlotte Street redevelopment project, now known as "Charlotte Square." Home Leasing is partnering with SWBR Architects on this innovative project. "Charlotte St.'s redevelopment is a key East-End project that will be an anchor in this important neighborhood and a job-creating opportunity for residents throughout our city," said Warren. "Today's announcement of Charlotte Square is exciting news for the East End and every corner of Rochester as we move this project and the fifty jobs it will create full-steam ahead. More jobs and safer, more vibrant city neighborhoods are key components for Rochester's future success and Charlotte Square will be an important part of that winning formula." A 'Request For Proposals' was sent out last fall for the re-development of city-owned vacant lots at 14-80 Charlotte St. Four proposals were submitted at the end of last year and Home Leasing was selected to move forward as the project developer. The selected proposal includes an important homeownership component (townhouses) that was lacking in the other submissions. Additionally, the rental component of the proposal includes rent levels that are within the Downtown housing market pricing range. The Charlotte Square Project creates an inviting and dynamic streetscape, making it more attractive for pedestrian traffic once completed. The project also includes a music practice room for Eastman School of Music students and incorporates an excellent open space design/park component. "Home Leasing is honored to be chosen as the developer and manager of Charlotte Square," said Nelson Leenhouts, Home Leasing chairman and CEO. "We are excited to be included as part of the re-birth of downtown living and the development of this important area. Residents will enjoy ready access to shopping, entertainment and cultural venues with many walking or biking to work. Each unit will have generous outdoor spaces that will bring life to the street with amenities include an inviting pocket park, secure parking, community and fitness centers, and practice rooms for our resident musicians." Project highlights Include: * 72 upscale apartments and up to 14 for-sale townhomes developed in two phases; * 50 new construction jobs; * Mixed-income community including high-end apartments at both market and affordable rental rates; * Unique design with three levels of apartments over secure garages; * On-site parking will include 80 spaces; * Secure bicycle storage; * Public pocket park will provide inviting community gathering spaces and bridge access from Charlotte Street to Richmond Street, then onto Main Street * Generous outdoor balconies and patios adding to neighborhood vitality and safety * Fitness room, soundproof musical practice room(s), and a community room available for residents' use * Project will employ both women and minority owned businesses * Apartment floor plans with open concept layout, solid surface countertops, in-unit laundry, ample storage and multiple bathrooms * Onsite management and maintenance, with 24-hour emergency maintenance service. Construction on Charlotte Square would begin in earnest this summer with apartments available in the summer of 2016, with the townhomes in 2017.
MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,