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Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced the start of preleasing at Modera San Diego, a luxury apartment community in the city’s eclectic downtown area.
The seven-story community, which features 368 apartment homes and an array of deluxe amenities, sits at the corner of 14th Street and K Street and represents Mill Creek Residential’s first development community in downtown San Diego. The community is within walking distance of Petco Park, Quartyard Events Plaza and the city’s ultra-popular Gaslamp Quarter. Move-ins will begin later this summer.
“Downtown San Diego is rapidly becoming one of the most dynamic living destinations in southern California, and we’re thrilled to join the neighborhood,” said Sam Simone, senior managing director of development in Southern California for Mill Creek Residential. “We believe the community’s pedestrian-friendly location and best-in-class design will connect our future residents to a thriving downtown in a way that will set a new standard for a quality living experience in the area.”
Situated at 1445 K Street, Modera San Diego boasts a superb Walk Score of 93 and is within moments from the beach, the charming Little Italy neighborhood and across the street from the award-winning Mission Brewery. Residents are within two blocks from a San Diego Trolley station, which offers connectivity to the greater downtown area and links to Amtrak regional lines.
The downtown San Diego area continues to emerge as a hip-and-trendy destination featuring a multitude of breweries, coffee shops and nightlife options. The neighborhood’s growing creative office base, which has created abundant job opportunities in the design and technology fields, has boosted the area’s burgeoning employment market.
Modera San Diego, which offers studio, one- and two-bedroom homes with various loft plans on the penthouse level and den layouts, features three distinct architectural styles designed to complement the neighborhood. Community amenities include two meticulously landscaped outdoor courtyards, a 5,100-square-foot sky lounge with resort-inspired pool and spa, fireside gathering areas, two outdoor kitchens with brick pizza oven and spectacular views of the bay and downtown skylines. Residents at the pet-friendly community also have access to a state-of-the-art fitness studio, co-working spaces, executive conference rooms, a resident clubhouse, bowling lounge with two regulation lanes, lobby lounge, 24-hour package storage lockers, a dog run with grooming basins, bike storage and controlled-access garage parking.
Apartment interiors are equipped with a variety of high-end finishes, including two distinct color schemes, nine-foot ceilings, stainless steel appliances, smart-home features including Nest thermostats and programmable lighting, wood plank-style floors, quartz countertops with matching backsplashes, custom cabinetry and soaking tubs with tile surrounds. Select homes feature kitchen islands, soaking tubs with tile surrounds, walk-in closets with built-in shelving, digital appliances and private patios or balconies.
Mill Creek Residential, a leading multifamily investor and operator specializing in premier rental communities across the U.S., today announced that construction is underway at Modera Skylar Phase II, a contemporary apartment community located in the River District of Downtown Miami. The company first broke ground in February and is now amidst the construction process.
Located just north of the Miami River with exceptional access to all of Miami’s major trafficways, Modera Skylar Phase II is surrounded by Miami’s thriving Health District. The community, a high-rise being developed alongside the original 21-story Modera Skylar, will offer 97 apartment homes and a connection to the elevated pool deck that provides residents with panoramic views of the city. The site's commuter-friendly position allows residents to conveniently explore Miami’s most popular attractions.
“We have always highly valued the South Florida apartment market, which has shown great resilience through the pandemic and is poised for a strong future as the nation and economy continues to recover,” said Jeff Meran, executive managing director for Mill Creek Residential’s Southeast Division. “At the Modera Skylar buildings, we’ll aim to encourage an active, social lifestyle that will help give residents the work-life balance so many of them are craving. With its strategic location and wide range of first-class amenities, our second phase will continue to provide a resort-style living experience for our residents.”
Situated just west of NW 14th Avenue, Modera Skylar Phase II will provide residents with convenient access to an array of world-class restaurants and retail shops. The walkability of the neighborhood (87 Walk Score) and the nearby metro stations keep residents connected to nightlife and cultural attractions. The community is also near several major employers, including Jackson Memorial Hospital and Miami International Airport, while the surrounding neighborhood encompasses multiple schools that range from elementary to college, including the adjacent University of Miami School of Medicine.
The community is within walking distance to the newly opened River Landing Shops and is also just a short ride from the Wynwood Art District – a nexus for culture and arts featuring trendy eateries and ample shopping opportunities. The neighboring Design District, known for its sleek architecture, celebrity-chef restaurants and upscale fashion boutiques, is nearby as well, as are all the amenities of Midtown, Downtown and Brickell. Meanwhile, the iconic South Beach is only a 15-minute drive from the community.
Modera Skylar Phase II will offer one-, two-, and three-bedroom apartment homes, with den layouts available. Community amenities include those of the original building, featuring a clubhouse with a lounge area and TVs, free Wi-Fi throughout the amenities, an expansive rooftop deck featuring a redesigned pool and hot tub, outdoor fitness and an outdoor entertainment area with grills and picnic tables. Phase II will also include a two-story fitness center and resident lobby. The pet-friendly community also will feature an onsite dog park, package lockers, reserved parking in a controlled-access garage and an optional valet dry-cleaning service.
Apartment homes will feature luxury wood-inspired plank flooring throughout, nine-foot ceilings, private balconies, king-sized bedrooms with walk-in closets, generous storage space, LED light fixtures, in-home washers and dryers, central heating and air and contemporary kitchens with stainless steel appliances, quartz countertops, USB ports and tile backsplashes. Select homes feature two full baths, walk-in showers, breakfast bars, wrap-around balconies and views of the weekly fireworks show at Marlins Park.
Modera Skylar Phase II will complement the recently renovated Modera Skylar, which offers 166 studio, one- and two-bedroom homes and a deluxe suite of amenities.
JLL Capital Markets secures the equity on behalf of Mill Creek Residential Trust
PORTLAND, Ore., March 4, 2021 – JLL Capital Markets announced today that it has arranged joint venture equity for the development of Modera Morrison, a 247-unit mixed-use multi-housing and retail development in a qualified opportunity zone in Portland, Oregon’s popular Central Eastside.
JLL worked on behalf of the borrower, Mill Creek Residential Trust, in securing the joint venture equity.
Modera Morrison is planned development, pending LEED Silver certification, that will include a seven-story, 247-unit apartment community with about 10,744 square feet of ground-floor retail. Community amenities will include a virtual reality gaming lounge, health club, mixology lounge and rooftop deck with panoramic views and a sky bistro.
With expected completion in 2024, the transit-orientated property has a Walk Score® of 96 and is located at 1120 S.E. Morrison St. Modera Morrison is also proximate to public transportation and within walking distance to various restaurant, grocery, retail and entertainment options. With the area undergoing a revitalization within the last 10 years, new mixed-use multi-housing communities have been taking precedence to accommodate growing interest in the area.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Ira Virden, Managing Director Mark Erland and Director Matt Benson.
“Despite an extremely challenging environment navigating through COVID-19, and the current supply pipeline, we generated tremendous interest from investors,” Virden said. “The location and development program, coupled with the opportunity to partner with a best-in-class developer like Mill Creek Residential Trust, proved critical during the process.”
PLANTATION, Fla. – Oct. 6, 2020 – Mill Creek Residential, a leading multifamily developer and operator specializing in premier apartment communities across the U.S., announced leasing is underway at Modera Cornerstone, a modern retreat-like apartment community located in the vibrant Southeast Florida suburb of Plantation.
Situated amidst the 58-acre Class A business campus of Cornerstone Corporate Center, Modera Cornerstone offers 330 contemporary apartment homes and deluxe array of community amenities. First move-ins at the Fort Lauderdale-area community began in August.
“Plantation continues to be an attractive option for renters with its centralized Broward County location and unique combination of city living in a suburban environment,” said Jeff Meran, executive managing director of development of Florida for Mill Creek. “We are thrilled to join the neighborhood and look forward to offering a sophisticated living experience that we believe will set the standard for apartment living in the area.”
Located at 1240 S. Pine Island Road immediately north of the Interstate 595 interchange, Modera Cornerstone provides a prime Broward County location with expedient access to surrounding locales such as Fort Lauderdale, Davie, Sunrise, Weston and Miami.
Within the immediate area of Modera Cornerstone, residents have access to a wide variety of national and local retailers and restaurants, medical facilities, recreational opportunities and major employers. Nearby Broward Mall is adding new restarants and shops, and the repurposed Plantation Fashion Mall is under development which will feature additional high-end retail, office and hotel space.
Modera Cornerstone offers one-, two- and three-bedroom homes ranging in square footage from 657 to 1,384 with den layouts available. Community amenities include a resort-style pool, club-quality fitness center with yoga/Pilates studio, expansive clubhouse, outdoor lakeside patio, courtyard putting green, onsite dog park and pet spa, pool table, barbecue area, business center and playground. Residents also have access to self-serve package lockers, controlled-access garage parking and free Wi-Fi in social zones.
Apartment interiors are delivered with wood plank-style flooring, nine-foot ceilings, ceiling fans, stainless-steel Energy Star appliances, quartz countertops, tile backsplashes, USB ports, full-size washers and dryers, keyless entry and private patios or balconies featuring lake, city or green space views. Select homes include a separate dining area, pantry, breakfast bar, linen closets and an alarm system. Residents also have access to cold storage as well as additional storage.
Modera Cornerstone marks Mill Creek’s eleventh development community in the South Florida region. Other Fort Lauderdale-area communities include Modera Flagler Village in development and Modera Port Royale.
DALLAS – Oct. 1, 2020 – Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced it has promoted Darren Schackman to chief investment officer.
Schackman, who previously held the position of executive managing director of development for Texas, Colorado, California and the Pacific Northwest regions started in his new role effective Oct. 1. The new role includes increased leadership responsibilities for Schackman, who will oversee the development team’s executive managing directors and the acquisitions team.
“Darren’s leadership has been integral to the growth and success of Mill Creek since inception,” said William C. MacDonald, chief executive officer and president of Mill Creek Residential. “His demonstrated ability to drive results and experience will continue to move our organization forward as we execute our vision. I can’t think of anyone better qualified to step into this role.”
Schackman’s promotion continues Mill Creek Residential’s commitment to promote high-performing associates from within. Schackman, one of the original founders of Mill Creek Residential and the chairman of the company’s investment committee, has led his team to complete the development and construction of more than 20,000 apartment homes over the past 10 years.
“I am extremely grateful for the opportunity to grow within an organization that truly puts its associates first,” Schackman said. “I look forward to helping Mill Creek maintain and expand its status as an industry leader that pushes the boundaries, and I’m honored to oversee a team of talented individuals who regularly provide the blueprint for success.”
In his new role, Schackman will be supported by the long tenured and accomplished leadership team including Wesley Dickerson, senior managing director of acquisitions, and the executive managing directors of the development team; Sean Caldwell, Sean Hyatt, Chad DeBeau and Jeff Meran.
Hyatt, is responsible for the Pacific Northwest region and Northern California. DuBeau, oversees the Denver, Phoenix and Southern California regions, and Meran added Nashville to his region while continuing to oversee Florida. Sean Caldwell, meanwhile, expands his role to add the Carolinas to his existing portfolio of the Mid-Atlantic and Northeast regions.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The national multifamily company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates multifamily communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in
many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2020, the company’s portfolio is comprised of 85 communities representing over 24,700 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.
REDMOND, Wash. – Aug. 5, 2020 – Mill Creek Residential, a leading multifamily developer and operator specializing in premier apartment communities across the U.S., today announced the groundbreaking of Modera Overlake, a luxe mixed-use apartment community in Eastside Seattle near the Redmond Microsoft Campus.
The community, which will feature 288 apartment homes and 3,600 feet of ground-floor retail space, is located 13 miles east of Seattle along the Redmond/Bellevue border. The property is within a 10-minute walk from the future Overlake Village Light Rail Station and Microsoft’s World Headquarters.
“With Microsoft rapidly expanding its headquarters, demand for quality housing in the area will be high,” said Steve Yoon, managing director of development for Seattle for Mill Creek. “We have always been a fan of the Overlake neighborhood, with its plentiful amenities and transportation access to the greater Puget Sound marketplace. With the commencement of construction on Modera Overlake, we are eager to help address the neighborhood’s impending demand and offer a high-quality living experience to our future residents.”
Situated at 15350 Bel-Red Road, Modera Overlake will offer studio, one- and two-bedroom homes with select den and townhouse layouts available. The community will feature a deluxe array of community amenities, highlighted by an eighth-floor rooftop clubhouse with expansive deck and panoramic views of Bellevue and Redmond. The community will also include an outdoor plaza, spacious lobby with vaulted ceilings, conference room, co-working lounge, coffee bar, clubhouse, theater room, DIY room, and a fitness center. Residents will also have access to dedicated bike storage, automated package lockers, and secure resident storage in the lobby and garage areas.
Apartment interiors will be delivered with stainless-steel gas ranges, quartz countertops, wood-plank flooring, kitchen tile backsplashes, upgraded fixtures and roller shades. Select homes will include private patios or balconies, separate dining areas, breakfast bars and walk-in closets. Residents will also be equipped with a controlled-access guest system.
Modera Overlake marks Mill Creek’s third community in Redmond, joining Modera Redmond and Modera River Trail. Modera Redmond is located about five miles to the northeast near Bella Bottega Shopping Center and began leasing in winter 2019. Modera River Trail, located across the street from Redmond City Hall and one block from the Sammamish River Trail, is under construction with an anticipated completion in early 2022.