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Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the groundbreaking of Modera Founders Row, a mixed-use lifestyle center that will feature luxury apartment homes and 90,000 square feet of retail space in metropolitan Washington, D.C.
Mill Creek Residential has announced that Studio Movie Grill and City Works Eatery & Pour House will be among the retail components of Founders Row, which will occupy approximately 4.5 acres at the intersection of West Broad Street and North West Street. Modera Founders Row will serve as the market-rate apartment community portion of the development and will include 322 apartment homes. An additional community featuring 72 apartment homes will be dedicated to age-restricted living for individuals 55 years and older.
A formal groundbreaking ceremony is scheduled for Monday, March 4, 2019. First homes and initial retail at the destination community are projected to open in summer 2021.
“We’re thrilled to break ground on Founders Row, which will offer a wholly unique experience to the City of Falls Church when complete,” said Joe Muffler, managing director of development for Mill Creek Residential. “The combination of vibrant retailers, luxury apartment homes and a prime location will create a true destination community.”
As the anchor of the retail space, Studio Movie Grill features eight movie screens, custom luxury recliners, laser projectors, studio-extreme large format auditoriums and Q-SYS sound systems for the ultimate blockbuster experience. The theater will occupy roughly 32,000 square feet of retail space. City Works, which features more than 90 beers on tap and an enthusiastic upscale sports bar atmosphere, will occupy 7,500 square feet of the retail space.
“We’re excited for the addition of these retailers, each of which represents the type of high-energy establishment that will provide enormous appeal to residents and visitors alike,” said Sean Caldwell, executive managing director of the Mid-Atlantic and Northeast for Mill Creek Residential. “Studio Movie Grill provides an entirely unique cinematic experience and the active vibe of City Works will undoubtedly complement the atmosphere we’re aiming to cultivate at Founders Row.”
Founders Row, which is being developed in conjunction with CrossHarbor Capital Partners, Lighthouse Real Estate Investments LLC, and PNC Financial Services, is located in Falls Church, which sits roughly 10 miles west of Washington, D.C. and is considered part of the greater D.C. area. Falls Church is situated on two square miles of land in northern Virginia and is one of the most affluent cities in the U.S. The city features a thriving school system and an active arts and culture sector, including the Falls Church Farmers Market.
Founders Row will offer a commuter-friendly lifestyle within a short distance of the area’s major highways and several public transportation options, including the D.C. Metro. The site is also a short drive from Arlington’s Rosslyn-Ballston Corridor and Downtown Washington, D.C., but the community will provide its own entertainment offerings.
The apartments at Founders Row will consist of studio, 1- and 2-bedroom apartment homes with an average size of 940 square feet. Shared community amenities will include an expansive resident clubhouse, 24-hour club-quality fitness center, outdoor pool and sundeck, business center, game room, barbecue area, Zen garden, private demonstration kitchen, pet spa, controlled-access garage parking, self-serve package lockers and coffee bar. The age-restricted community will feature an additional community room, fitness center, and business center dedicated exclusively to those residents.
Apartment interiors will feature wood plank-style flooring, nine-foot ceilings, moveable kitchen islands, stainless steel Energy Star appliances, quartz countertops, extra-large capacity stacked washers and dryers, built-in storage and shelves, and USB ports. Select homes will have balconies and upgraded finishes, including wine refrigerators, towel warmers, and backlit bathroom mirrors. Residents will also have access to additional storage and bike lockers.
”Founders Row will be an exciting addition to our community,” Falls Church Mayor David Tarter said. “Having a movie theater that most of the City of Falls Church can walk to will further our commitment to make the city a vibrant, walkable destination for residents and visitors from Fairfax, Arlington and beyond.”
Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced it has been named runner-up for the 2018 Multifamily Development Firm of the Year by the National Association of Home Builders.
The honor, part of NAHB’s 2018 Pillars of the Industry Awards, was announced Feb. 19 during a luncheon at the International Builders Show at the Las Vegas Convention Center. Originally formed in 2011, Mill Creek has built its portfolio by developing and acquiring high-quality apartment communities in some of the most desirable markets in the nation.
“We are humbled to be included alongside Gables Residential as a finalist for this honor, knowing that the industry has many development firms with an endless passion for innovation and for pushing the envelope in the development process,” said William C. MacDonald, chief executive officer and president of Mill Creek Residential. “Whether we finish first or 50th on the list, our primary focus has always been to create meaningful relationships with our customers, residents, associates and partners and extraordinary places that our residents can proudly call home. To be named a finalist for that mission is truly gratifying.”
The Pillars of the Industry Awards span 26 categories and highlight several key facets in the apartment marketplace, including creative development concepts, innovative financing strategies, great design, superior management and deft marketing. The annual competition is judged by a committee of knowledgeable peers, each with a strong track record within the multifamily industry.
Multifamily Development Firm of the Year candidates were evaluated on the overall quality of communities that have been developed over the previous three years. That includes an examination of innovative development strategies and practices, the ability to overcome obstacles and overall success in achieving the company’s vision and goals.
“It is truly an honor to be acknowledged alongside the industry’s premier developers, and we remain motivated to continue to develop quality apartment homes in some of the country’s finest markets,” MacDonald said. “The credit for being included as a finalist goes to our hard-working associates and our wonderful residents who choose to make these communities their homes.”
Mill Creek had previously been nominated for three Pillars of the Industry Awards, winning two. The company was honored for the 2016 Best Midrise Apartment Community and 2016 Best Interior Merchandising of a Common Area, both for Modera Mosaic (Fairfax, Va.).
Mill Creek was also recognized as a finalist for the 2016 Best Adaptive Reuse for its efforts at Modera Lofts (Jersey City, NJ).
Mill Creek Residential, a leading multifamily investor, builder and operator specializing in premier apartment communities across the U.S., today announced it has named William C. MacDonald as chief executive officer.
MacDonald, who has held the role of president since 2016, is a founding shareholder of the company and has a strong track record of leadership, business accomplishments and team building with Mill Creek. The change will be effective Jan. 1, 2019.
“I can’t think of anyone more qualified, or better prepared, to lead Mill Creek as we progress through the chapters ahead, than Bill,” said Charles R. Brindell Jr., executive chairman of Mill Creek Residential. “He has long demonstrated a unique combination of leadership skill, focused attention on important details, strategic vision and, most importantly, the ability to drive performance and results.”
As CEO and President, MacDonald will be responsible for all operations and the strategic leadership of Mill Creek’s many multifamily disciplines.
“Bill brings a long and impressive track record, and deep experiences and skill sets in both the finance and development/construction components of our business to this role as our new leader,” Brindell said in a memo to all Mill Creek associates. “All of us are fortunate for this opportunity to look to Bill’s leadership as he guides the continued growth and expansion of Mill Creek.”
Since MacDonald was appointed president of Mill Creek, the company has raised approximately $2 billion in capital, grown from 26,000 to 32,000 apartment homes and closed on a portfolio-wide transaction with the Arizona State Retirement System.
“I am excited about the future of Mill Creek and working with what I believe to be the best multifamily company in the industry,” MacDonald said. “Our world-class team has positioned us to become a true enduring enterprise, and I’m thankful for the opportunity to build upon that track record of success.”
Prior to becoming president, MacDonald served as Mill Creek’s chief investment officer, where he was responsible for all development, construction, acquisition and market research activity for a Mill Creek pipeline that has a total capitalization of more than $8 billion. He has also served Mill Creek as its executive managing director for the East Region. He held the same post at Trammell Crow Residential prior to participating in the founding of Mill Creek, where his divisions were responsible for the development of more than 40,000 residential homes and capitalization exceeding $5 billion.
The University of Maryland graduate earned his Masters of Business Administration from the Columbia Graduate School of Business. Recognized as a leader in the multifamily industry, he is a member of the National Multi-Housing Council (NMHC), the former Counselor to the five Multifamily Councils at the Urban Land Institute (ULI), and is currently a Governing Trustee at ULI.
Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of preleasing at Modera Pearl, a nine-story luxury apartment community located in the eclectic Pearl District.
The community, situated in a walkable, commuter-friendly location at the north end of the Pearl District, features 290 apartment homes, spectacular views and a top-of-the-line amenity package. First move-ins are anticipated for July.
“The Pearl District is one of the most desirable neighborhoods in Portland, and its wide range of attractions and proximity to the city appeal to a variety of lifestyles,” said Sam Rodriguez, senior managing director of Portland for Mill Creek Residential. “We’re excited to join the neighborhood and help meet the spiking demand for quality apartment homes in the area.”
Located at 1481 NW 13th Ave., Modera Pearl is adjacent to Downtown Portland, which is easily accessible by car, foot, or public transit. The community is located along the TriMet bus line and within close proximity to the Portland Streetcar. In addition, Modera Pearl is within a short drive of Interstate 405 and Interstate 5, which provide connectivity to the key employment centers across the metropolitan area.
Prominent national employers in the immediate area include REI, Nike and Legacy Health, which are less than two miles from the community. Intel, Kaiser Permanente, Adidas, Columbia Sportswear and Providence Health are among several other national brands featuring Portland-based headquarters.
Modera Pearl residents will have prime access to a vast array of entertainment options, including the vibrant shopping and dining corridor of the iconic Pearl District. Downtown Portland, Moda Center (home of the Portland Trail Blazers) and Providence Park are also within two miles of the community. A bevy of nearby recreational opportunities give the area a decided Pacific Northwest vibe, including the Waterfront Pearl, Forest Park, Tanner Springs Park, The Fields Park, Jamison Square, Couch City Park and Washington Park.
Modera Pearl consists of studio, 1- and 2-bedroom apartment homes with den layouts and penthouses available. Outdoor community amenities include a rooftop pool deck and hot tub, barbecue areas, pet spa, on-site dog park and controlled-access garage parking. Indoor amenities consist of a clubhouse, 24-hour fitness studio, game room, wine cellar, bike storage and theater room. Apartment interiors feature wood plank-style flooring, quartz countertops, stainless-steel appliances, USB ports and full-size washer and dryer. Select homes include patios or balconies and separate dining areas.
Including Modera Pearl, Mill Creek has developed five apartment communities in the Portland area, totaling 938 apartment homes.
Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of preleasing at Modera Metro Dadeland, a 25-story apartment community located in the Dadeland submarket of Miami.
The community, slated to open late summer 2017, features 422 apartment homes and expansive views of the bay and the city. Located at 8215 SW 72nd Avenue, Modera Metro Dadeland I is in close proximity to many of the area’s primary thoroughfares, providing commuter-friendly access to various professional employment opportunities across the metropolitan area.
“This is Mill Creek’s first high-rise development in Florida and it’s perfectly positioned to meet the growing demand for quality apartment housing in one of the best places to live in the state,” said Jeff Meran, senior managing director of South Florida for Mill Creek Residential. “The apartments offer views like no other community in what is quickly becoming the most exciting neighborhood in Miami. Whether they want shop, dine or play nearby or commute to the destinations around the city, residents will have everything they need just moments away.”
The community, beginning preleasing today, is within walking distance of the Dadeland North Metro Station and a short drive from U.S. 1, Palmetto Expressway and Snapper Creek Expressway, which are the gateways to Miami and various locales along the eastern seaboard. Key professional employers in the immediate area include Baptist Health and the University of Miami, each less than five miles from the community. Nearby Dadeland Mall features a sizable array of local and national businesses.
Various entertainment options are easily accessible from the community, including Downtown Dadeland, Pinecrest Gardens, American Airlines Arena and Marlins Park. Nearby recreational opportunities include Ludlam Trail, Matheson Hammock Park, and a county park that is located across the street from the community. In addition, The Underline, a 10-mile linear park under development below Miami’s Metrorail, will substantially enhance the walkability and bikeability of the area.
Modera Metro Dadeland consists of studio 1-, 2- and 3-bedroom apartment homes with den layouts, loft layouts and penthouses available. Outdoor community amenities include two rooftop decks, barbecue areas, pet spa, an onsite park, controlled-access garage parking and an elevated hotel-inspired swimming pool.
Indoor amenities consist of a 24-hour fitness studio, clubhouse, cyber café, conference room, game room and theater room. Apartment interiors feature porcelain plank-style flooring, quartz countertops, 42-inch custom cabinetry, stainless-steel appliances, 9-foot ceilings and large closets. Select homes include patios or balconies.
Phase II will be treated as a separate development with its own amenities. It will include 422 apartment homes in a 25-story high-rise.
Including Modera Metro Dadeland, Mill Creek has developed, began development and acquired more than 5,133 apartments in the South Florida area.
Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced that Modera Port Royale, a luxury apartment community located along the Intracoastal Waterway, is now open for first move-ins.
The community, which features 555 apartment homes contained within five eight-story midrise buildings, also includes 42 leasable dock slips that can accommodate boats up to 40 feet. Residents will have direct access to the exclusive marina and stunning views of the ocean and shoreline, all while situated within minutes of downtown Fort Lauderdale and Las Olas Boulevard.
“Modera Port Royale is in the heart of the action, while possessing an air of privacy in a private nook along the coast,” said Jeff Meran, senior managing director of South Florida for Mill Creek Residential. “It’s resort style living mixed with the conveniences of everyday life. We’re excited to join a Fort Lauderdale area that has become increasingly vibrant over the past decade and has developed into one of the most sought-after submarkets in the state.”
Situated at 3333 South Port Royale Drive about seven miles north of Fort Lauderdale Beach, the community is steps from the newly unveiled Intracoastal Waterway walking path. Picturesque Bay View Park, which features picnic areas, athletic fields and ocean views, is about two miles south. The community is also within a short drive of the vast dining, retail, entertainment and nightlife options of downtown Fort Lauderdale.
Various entertainment and cultural destinations easily accessible from the community include Las Olas Boulevard, Broward Center for the Performing Arts, Museum of Discovery and Science, Savor Cinema, The Galleria at Fort Lauderdale and the Flagler Arts and Technology District. Fort Lauderdale also is home to a number of national employers, including AutoNation, Cintrix Systems, DHL Express and several prominent financial institutions
Modera Port Royale consists of studio 1-, 2- and 3-bedroom apartment homes and ample parking (1.9 spaces per apartment home). Rents at the community range from $1,811 to $4,350. Among the premium amenities featured at the community are a boat viewing room, resort-style yoga- and fitness-on-demand room and two elevated amenity decks with outdoor kitchens, barbecue areas and water features. Additional community amenities include a membership-class fitness center with fitness programs and towel service, hotel-inspired swimming pool, state-of-the-art clubhouse, multiple social hubs and game rooms, business center, movie theater, media lounge, and cyber café.
Apartment interiors feature elevated nine- and 14-foot ceilings, quartz countertops with tile backsplashes, hard-surface flooring, stainless-steel appliances, 42-inch custom cabinetry, French door refrigerators and moveable chef islands.