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Author: Baylee Snead

Top 10 Multifamily Projects Under Construction in the Bay Area

MULTIHOUSING NEWS, Sept 18, 2020- California was one of the first states to impose stay-at-home orders and social distancing rules on construction sites, forcing developers to push back completion dates. San Francisco’s year-to-date deliveries accounted for 0.6 percent of existing stock, less than half of the 1.3 percent national average, according to Yardi Matrix data. Despite that, the metro has delivered 11 properties, totaling roughly 1,550 units.

Some 23,000 units were under construction across 125 properties as of August, with another 120,000 in the planning and prospective stages. Most new projects target upscale renters and include luxury amenities, despite the metro’s affordable housing woes. One solution policymakers and developers have implemented to address the issue is setting aside a percentage of units as affordable, with half of the 10 largest properties currently underway marked to include affordable apartments.

https://www.multihousingnews.com/post/top-10-multifamily-projects-under-construction-in-the-bay-area/

-Lucia Morasanu

Wood Partners Announces Grand Opening of Alta Headwaters in Orlando

ORLANDO, Fla., August 5, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the grand opening of their newest luxury apartment community. Alta Headwaters features 328 units in multiple four-story, elevatored-buildings comprised of one-, two- and three-bedroom apartment homes as well as studios. The community officially opened its doors to residents on July 30 and has more than two dozen move-ins scheduled for August and September. Leasing is currently underway at www.altaheadwaters.com.
Alta Headwaters, named for its proximity to Shingle Creek – considered to be the northernmost headwaters of the Florida Everglades – is situated on 15.31 acres at the prime intersection of Central Florida Parkway and John Young Parkway. Located at 4000 Headwaters Way, the community offers resort-style living in a premium location at the confluence of Orlando’s Tourism Corridor and some of its largest office and industrial parks.
“Alta Headwaters is poised to benefit from its prime corner location and access to a diverse employment base that extends well beyond hospitality and tourism,” said Bryan Borland, Managing Director at Wood Partners. “We’re strong believers in this corridor as evidenced by this being our third development in the immediate vicinity, and we feel that Alta Headwaters has reset the bar in the submarket.”
Alta Headwaters allows convenient access to many prominent employers and a number of nearby corporate office and industrial parks including SouthPark Center, Southridge Commerce Park and Infinity Park, all within minutes of the property. Major employers in the area include Darden Restaurants’ corporate headquarters, Lockheed Martin and Tupperware Brands, among others. Directly across the street, Grande Lakes Orlando Resort is home to Orlando’s largest luxury hotel complex, anchored by The Ritz-Carlton and JW Marriott.
The luxury apartment community is conveniently located within three miles of Florida’s Turnpike, Interstate 4 and the Beachline Expressway (SR 528). These provide easy access to a wide range of entertainment venues including SeaWorld, Universal Orlando Resort and Walt Disney World Resort, in addition to a wide variety of nearby shopping options including The Florida Mall, The Mall at Millenia and two Simon Premium Outlet locations. Furthermore, just one exit north on Interstate 4, residents have their choice of dozens of Orlando’s finest upscale and casual dining options on Sand Lake Road, better known as “Restaurant Row.”
Alta Headwaters features best-in-class amenities including a resort-style, zero-entry saltwater pool with a sundeck and covered poolside pavilion, private cabanas, hammocks, lounge seating and outdoor grilling areas. Additional amenities include a modern, state-of-the-art fitness center featuring virtual training classes and a yoga room, a game lounge featuring a billiards table, an automated “smart” package room and a fenced dog park.
Unit finishes include wood-style plank flooring in all entryways, kitchens, bathrooms and living rooms, premium quartz countertops, low-profile stainless-steel appliance package featuring a side-by-side refrigerator with water and ice dispensers, glass-top cook range, soft-close kitchen cabinetry with under-cabinet lighting and custom kitchen tile backsplash.

Wood Partners Announces Grand Opening of Alta Potrero in San Francisco

Wood Partners, a national leader in multi-family real estate development and acquisition, announced today the grand opening of its newest luxury residential community – Alta Potrero – in San Francisco, California. The new community is managed by Wood Residential Services.

Alta Potrero offers modern-style apartment homes in the popular neighborhood of Potrero Hill in San Francisco, near many of the city’s top employers, food and entertainment destinations, and transportation hubs. Located at 1301 16th Street, Alta Potrero is delivering 172 units to one of the country’s most desirable residential areas.

“Potrero Hill is a charming neighborhood with an abundance of restaurants and bars, which will provide residents with unbeatable access to everything San Francisco has to offer,” said Julia Wilk, Managing Director for Wood Partners.

Residents can easily get to work from nearby BART, MUNI and Caltrain stations, or on one of many bus lines or bike lanes in the neighborhood. Alta Potrero has easy access to Interstate-280 and Highway 101. Numerous major tech company headquarters are within two miles of the new community, as are offices for many major financial and medical research employers.

Surrounding Potrero Hill are a variety of dynamic neighborhoods, home to dozens of local eateries, bistros, coffee shops, and small businesses. Safeway and Whole Foods locations within a half mile provide easy grocery store access.

Alta Potrero features 6,700 square feet of first floor retail and two expansive rooftop outdoor terraces with barbeque grills, fire pits and 360-degree views of San Francisco’s skyline. A landscaped courtyard has fire pits and a shaded tree grove. The community also has co-working spaces, bike storage and a dog wash.

The fitness center features state-of-the-art equipment including a Peloton Bike. Unit and building entries are smartphone operated by Latch, and the community has a secured 24-hour package room.

Each apartment home offers the finest kitchen finishes from Fischer & Paykel, Blomberg appliances, quartz countertops, backsplashes and islands. All homes have floor-to-ceiling windows, individual climate controls and front-load, in-unit washer and dryer. Select units feature private balconies.

Alta Potrero offers 172 apartment homes in studios, one-, two- and three-bedroom plans, plus townhomes with walkup access.

Leasing is now underway at www.altapotrero.com.

Wood Partners Announces Grand Opening of Alta Spring Creek in Garland

GARLAND, Texas, September 15, 2020 (Newswire.com) – ​​​​Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its newest luxury residential community – Alta Spring Creek – in Garland, Texas. Leasing is currently underway at altaspringcreek.com.
Located at 6310 Naaman Forest Blvd., the new community is located a short drive from some of the highest-growth economic hubs in the Dallas-Fort Worth region. Alta Spring Creek’s location places residents minutes from CityLine – home to regional headquarters for both State Farm and Raytheon – as well as the Telecom Corridor that boasts an unparalleled concentration of manufacturing, telecommunications, healthcare and financial services establishments.
“The Dallas team of Wood Partners is proud to open Alta Spring Creek, a conveniently located, high-quality community,” said Ryan Miller, Managing Director of Wood Partners. “Alta Spring Creek residents have access to top-notch amenities located near a variety of job opportunities and surrounded by beautiful local scenery.”
In addition to area job opportunities, Alta Spring Creek’s location in the 190 Corridor will provide residents with numerous restaurant, bar and retail options at nearby Firewheel Town Center. The area is home to a number of grocery options as well, with Whole Foods, Kroger, Tom Thumb and Aldi nearby.
Alta Spring Creek includes 225 units in a mix of studio, one-, two- and three-bedroom floor plans. The premier apartment homes feature refined finishes that help differentiate the community. The units, which include stainless steel appliances, granite countertops, upgraded fixtures and private yards, will provide an A-class living experience for residents.
As part of a robust set of amenities, Alta Spring Creek includes a number of community-shared spaces, maximizing the best of the region’s indoor-outdoor lifestyle. A spacious fitness center features Precor equipment and a dedicated yoga and CrossFit studio. The large, resort-style pool area includes tanning ledges, outdoor fire pits and BBQ grilling areas. A portion of Spring Creek, which runs along the property, offers an area for outdoor activities and events while providing a calming natural backdrop for residents to relax and recharge daily.
Alta Spring Creek now joins a list of 16 properties managed by Wood Partners in Texas, 12 of which are in the Dallas-Fort Worth area, with three more currently in development.

Wood Partners Announces Grand Opening of Alta Med Main in Houston

HOUSTON, September 3, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the grand opening of its newest luxury residential community – Alta Med Main – in Houston, Texas. The four-story community features 338 units comprised of one- and two-bedroom apartment homes. Leasing is currently underway at www.livealtamedmain.com and first move-ins began in early September.
Located in the Texas Medical Center, a short distance from Downtown Houston, Alta Med Main offers residents easy access to major employment centers in the area, including Texas Medical Center, Rice University, and Downtown. NRG Stadium, the Museum District, the Houston Zoo and Hermann Park are also nearby.
“We are excited to welcome residents from across the Houston area to this market-leading community,” said Bart Barrett, Managing Director at Wood Partners. “Alta Med Main gives residents unequaled luxury in the midst of the largest medical city in the world. This fantastic location provides everything our residents need right around the corner.”
The new community is conveniently located just north of Interstate 610, and within minutes of both the NRG Park/Astrodome and Fannin South Transit Stations, giving residents easy access to transportation that connects across the Houston megaregion. There is a wide variety of retail and grocery options in the neighborhood, including Target, Walmart, Costco and Kroger.
In addition to luxurious apartments, the community offers state-of-the-art amenities for residents to enjoy outside of their homes. These include a clubroom, sky lounge with kitchen area, business center with reserve-able micro-offices, a conference room, and a 24/7 fitness center with a virtual fitness studio. The community also boasts two courtyards that include a resort-style pool with sun deck, a tranquility space and entertaining areas, as well as a dog park with a pet washing station. Residents will also have access to a Luxor package room, enabling stress-free package pickup.

Wood Partners Announces Groundbreaking of Alta Southern Highlands in Las Vegas

LAS VEGAS, August 27, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the groundbreaking of its newest luxury residential community – Alta Southern Highlands – in Las Vegas, Nevada. Construction is underway and the community is scheduled to open in fall of 2021.
Located 10 minutes south of the Las Vegas Strip, the new community will offer easy access to I-15 and a wide variety of employment opportunities, entertainment options and recreational activities. The area is home to more than 97,000 jobs, and the newly announced Amazon and Google hubs are in development. Other major employers in the area include Levi’s, Humana, Prologis, CenturyLink and Universal Health Services. Additionally, McCarran International Airport is less than a 15-minute drive away.
The new headquarters and practice facility for the recently relocated Las Vegas Raiders is just across Interstate 15, and the site is only a few miles from the team’s Allegiant Stadium, giving residents a new home team in their own backyard. Additionally, according to Golf Digest, the nearby Southern Highlands Golf Course is the #3 ranked golf course in the state of Nevada.
“Wood Partners is enthusiastic about the amenities, features and lifestyle the Alta Southern Highlands community will offer,” said Kevin Curley, Development Associate for Wood Partners. “The Southern Highlands community was voted 2018’s Best Master Planned Community by Best of Las Vegas for the second year in a row, making it an ideal location for young professionals and families alike.”
Once complete, Alta Southern Highlands will include 228 units comprised of one-, two- and three-bedroom apartments. In-unit features will include premium kitchen finishes and technology packages.
The resort-style community will also offer highly amenitized living with an over-sized fitness center, an expansive pool area and a double-height clubhouse area, giving residents the ability to enjoy life both inside and outside their apartment homes.

Wood Partners Announces Groundbreaking of Alta Raintree in Scottsdale, AZ

SCOTTSDALE, Ariz., August 24, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the groundbreaking of its newest luxury residential community – Alta Raintree – in Scottsdale, Arizona. Construction is underway and the community is scheduled to open in the fall of 2021.
Located 10 minutes from Scottsdale Airpark in the coveted City of Scottsdale, this new community will offer residents easy access to North Scottsdale’s large employment base that is home to more than 86,000 jobs. Notable employers in the nearby area include Nationwide, GoDaddy, Vanguard, JDA Software, Mayo Clinic, HonorHealth, Prudential, American Express and CVS Health.
For those who enjoy the outdoors, the community’s location is in close proximity to a number of outdoor attractions such as Camelback Mountain, McDowell Mountain Regional Park, and a number of popular, local golf courses. The Waste Management Open, the highest attended golf tournament in the world, is played annually at TPC of Scottsdale, only two miles away.
“Alta Raintree’s prime North Scottsdale location is what will appeal to the residents the most,” said Clay Richardson, Managing Director at Wood Partners. “Being close to jobs, shopping and abundant nightlife offers unbeatable convenience. Add in being surrounded by the desert mountains and outdoor activities, Alta Raintree will make for an unparalleled living experience.”
Scottsdale is home to the Phoenix-metro area’s favorite shopping destinations, including Kierland Commons, the Scottsdale Quarter and Scottsdale Fashion Square mall, which houses the valley’s finest collection of high-end retailers. The community offers walkable access to nearby restaurants and retail as well. Finally, the location also provides quick access to the Highway 101, easily connecting Alta Raintree to the Phoenix megaregion.
Once complete, Alta Raintree will include 330 units comprised of one-, two- and three-bedroom floor plans. The community will feature state-of-the-art amenities including an over-sized fitness center with yoga space and a resort-like pool area accompanied by a sunken seating area that will surround a steel ‘Art Tree’. A game room, speakeasy, rooftop deck and stunning clubhouse will give residents access to luxurious living steps from their door.
All apartment homes will feature stainless-steel appliances with french-door refrigerators and double ovens in select units, quartz countertops, modern, self-close cabinetry, backlit mirrors in the bathrooms, keyless entry for maximum convenience and in-unit front load washer and dryers.

Wood Residential to Manage Alta NV in Henderson, Nevada

HENDERSON, Nev., August 14, 2020 (Newswire.com) – Wood Residential Services, a national leader in multi-family real estate management, announced today its contract to manage the recently completed luxury apartment community Alta NV in Henderson, Nevada.
Wood Residential Services will serve as the exclusive management company for the community, located at 1250 Wigwam Parkway. Alta NV features resort-style amenities and high-quality finishes throughout each apartment, set on sixteen acres just twenty minutes from the Las Vegas strip. This asset expands Wood Residential’s portfolio into Las Vegas under the leadership of Wendi Cooley, Regional Vice President for Wood Residential Services.
“Known for its outstanding quality of life and business climate, Henderson is the ideal location for a community like Alta NV,” Wendi Cooley said. “Wood Residential Services is looking forward to expanding our award-winning customer service to the area with the addition of Alta NV.”
High-end amenities at Alta NV include a resort-style swimming pool with in-water seating and a tanning deck, an outdoor entertainment space fitted with a grilling station and shaded terrace. The roof-top deck, community speakeasy bar and golf simulator lounge will facilitate social gatherings, while the 24/7 athletic center features Precor and TRX equipment.
Alta NV offers 347 units in a combination of one- and two-bedroom floor plans. Each apartment home features top-of-the-line kitchen finishes, including stainless GE Energy Star appliances, quartz countertops and custom-patterned tile backsplash.
“As Wood Residential Services continues its growth nationally, we are excited to get to work at Alta NV,” said Steve Hallsey, Managing Director for Wood Residential Services.
Leasing is currently underway at www.livealtanv.com.

Wood Residential Services Earns #1 Spot in J. Turner Research Power Rankings

ATLANTAJuly 31, 2020 (Newswire) – Wood Residential Services, a national leader in multi-family real estate management, was recently named #1 in Division 3 of the Online Reputation Assessment Power Rankings by J. Turner Research. The scores are a result of star ratings from residents, prospective renters, and other reviewers. Division 3 applies to companies managing between 10,000-19,999 units.

“The entire Wood Residential Services team is honored to have achieved this #1 ranking,” Steve Hallsey, Managing Director at Wood Residential Services, said. “We treat all of our residents like they are members of our family, so this kind of recognition is particularly fulfilling.”

Aggregated by J. Turner Research, the ORA score is an industry-standard, giving consumers and stakeholders a digestible online understanding of the reputation of companies and their properties. According to J. Turner Research, the score incorporates more than 20 review sites to generate a score between 0-100.

Hallsey continued, “We know that reviews influence prospective renters and their leasing decision. This #1 ranking from J. Turner Research shows consumers that Wood Residential-managed properties have the highest-quality customer service. As we continue to grow in a number of markets across the country, we will continue to strive for the same level of quality and customer service from each community we manage.”

In describing its ratings, J. Turner Research notes the importance of having a strong online reputation.

“71% of prospects surveyed choose to visit a property with a better online reputation. Properties with high ORA™ scores produce 15% more leases than properties with lower ORA™ scores,” the research company says on its website.

To see the full ratings from J. Turner Research, click here.

About Wood Residential Services

Wood Residential Services is a national multifamily community property management company. The company currently manages stabilized and lease-up assets in all classes around the country, and is headquartered in Atlanta, Georgia.

Wood Partners Announces Groundbreaking of Alta Wren in Cary, N.C.

Wood Partners, a national leader in multi-family real estate development, announced today the groundbreaking of its newest luxury residential community – Alta Wren – in Cary, North Carolina. Construction is underway, and the community is scheduled to open in the summer of 2021.

Located five minutes south of Research Triangle Park, the new community will provide residents a convenient living location with phenomenal access to employers, top-tier public schools and abundant recreation and entertainment options.

Research Triangle Park, the largest research park in the United States, is home to more than 250 businesses and 50,000 technology and life sciences jobs. Major companies in the area include IBM, Credit Suisse, Cisco, Biogen and Lenovo.

“Our hope is this new community will provide the highest quality of living in a location convenient to everything the Triangle region has to offer,” said Wood Partners Managing Director Caitlin Shelby. “The sustained economic growth in this region will continue to attract residents to the area, while Alta Wren’s spacious units and extensive amenities will set it apart from other existing communities.”

Alta Wren’s location provides quick access to local parks and outdoor recreation while being adjacent to multiple grocers, restaurants and retail. In addition, the project is central in the Triangle region with Interstates 40 and 540, as well as Davis Drive nearby, giving residents quick access to Raleigh, Durham and Chapel Hill.

The Raleigh-Durham International Airport is approximately eight miles northeast of the community, making this an ideal home for those who travel for business or leisure.

Once complete, Alta Wren will include 250 units with state-of-the-art amenities, including two outdoor courtyards with a resort-style pool, co-working space for residents, a fitness center with flex space, playground, demonstration kitchen, gaming and abundant space for residents to work from home.

All apartment homes will feature top-of-market finishes, including stainless steel appliances, quartz countertops, wood-style plank flooring, backsplashes, balconies and spacious interiors.

Wood Partners Announces Grand Opening of Alta Gateway in Pinellas Park, Florida

Wood Partners, a national leader in multi-family real estate development, announced the grand opening of Alta Gateway, a 288-unit luxury rental apartment community. Alta Gateway features one-, two- and three-bedroom apartment homes as well as studios. Leasing is currently underway at www.livealtagateway.com.

Alta Gateway offers a highly amenitized lifestyle in the heart of Pinellas County’s Gateway district. The Gateway district is just north of St. Petersburg, at Tampa Bay’s crossroads. It is home to many of Tampa Bay’s top employers, including Raymond James Financial, Home Shopping Network, Valpak, and Jabil. There are more than 2,700 businesses and 60,000 employees in Gateway.

“Gateway is a thriving submarket, offering easy access to all major employment hubs in the region as well as Downtown St. Pete and the beaches,” said David Thompson, Managing Director for Wood Partners. “Alta Gateway is a step above anything else in the area, offering high-end apartment homes and unbeatable amenities.”

Within a 30-mile radius of the community, residents can visit world-renowned beaches, spend a day at Busch Gardens, enjoy Vinoy Waterfront Park, explore one of the numerous local breweries, or take in a professional football, baseball, or hockey game at stadiums in Tampa and St. Petersburg.

For outdoor activities closer to home, Alta Gateway features remarkable amenities including a resort-style, zero-entry pool with a sundeck and covered poolside pavilion, cabanas, hammocks, lounge seating, and outdoor grilling areas; a modern state-of-the-art fitness center, featuring virtual training classes and a yoga room; a game lounge with billiards; a cyber lounge with co-working spaces; an automated “smart” package room; and a fenced dog park.

Unit finishes include wood-style plank flooring in all entryways, kitchens, bathrooms and living rooms, premium quartz countertops, low-profile stainless-steel appliance package with side-by-side refrigerator with water and ice dispenser, slide-in front control range, soft-close kitchen cabinetry with under-cabinet LED lighting and custom design kitchen tile backsplash.

Wood Partners Announces Grand Opening of Alta NV in Henderson, Nevada

Wood Partners, a national leader in multi-family real estate development and acquisition, announced today the grand opening of its newest luxury residential community – Alta NV – in Henderson, Nevada.

At 1250 Wigwam Parkway, Alta NV offers apartment homes with high-quality finishes close to local hiking trails, parks and dining options. Set on sixteen acres, the expansive community features resort-style amenities, just twenty minutes from the Las Vegas strip and airport.

“Known for its outstanding quality of life and business climate, Henderson is the ideal location for an impressive community like Alta NV,” said Todd Taylor, Managing Director for Wood Partners. “Wood Partners is proud of our great partnership with Principal Real Estate Investors on this development, and we look forward to welcoming residents to their new apartment homes.”

The Galleria at Sunset and the upscale, mixed-use development, The District at Green Valley Ranch, provide residents with dining and shopping options nearby. Residents can also enjoy an active lifestyle hiking trails at Black Mountain, exploring Cornerstone Park and Reunion Trails Park, or at one of the numerous local golf courses. Nearby grocery store options include the popular Whole Foods Market, Natural Grocers and Sprouts Farmers Market.

The community’s location provides easy access to Interstate 515 and Interstate 215, allowing short commutes to major employers in the booming Henderson job market or Downtown Las Vegas.

High-end amenities at Alta NV include a resort-style swimming pool with in-water seating and a tanning deck, an outdoor entertainment space fitted with a grilling station and shaded terrace. The expansive club room, community speakeasy bar and golf simulator lounge will facilitate social gatherings, while the 24/7 athletic center features Precor and TRX equipment. The community also has outdoor green space, an on-site pet park and private micro-offices.

Alta NV offers 347 units in a combination of one- and two-bedroom floor plans. Each apartment home features top-of-the-line kitchen finishes, including stainless GE Energy Star appliances, quartz countertops and custom-patterned tile backsplash. All homes have a full-size, in-unit washer and dryer, and walk-in closets, alongside wood-style flooring.

Property management will be provided by Wood Residential Services. Leasing is currently underway at www.livealtanv.com.

Wood Partners Announces Groundbreaking of Alta Davis in Durham, N.C.

Wood Partners, a national leader in multi-family real estate development, announced earlier today the groundbreaking of its newest luxury residential community – Alta Davis – in Durham, North Carolina. Construction is now underway, and the community is scheduled to open in late 2021.

Alta Davis is located minutes away from Research Triangle Park (RTP), the largest research park in the United States. Residents will have easy access to more than 250 businesses and 50,000 technology and life sciences jobs. The site is also in close proximity to the Imperial Center Business Park and Perimeter Park, two other employment hubs that contribute approximately 14,000 additional jobs to the area.

“We are excited about the opportunity to bring a residential community of the highest quality into this submarket, accommodating the growing number of new jobs in the region,” said Wood Partners Managing Director Caitlin Shelby. “We know this community will provide residents with easy access to work while giving them a comfortable neighborhood feel when they come home.”

Aside from the booming job market, Durham is famously home to Duke University, itself a major employment and research hub. Duke recently announced a $100 million investment in RTP for an expansion of their School of Medicine, in addition to several private sector investments in the wake of the Covid-19 pandemic.

More than just a college town, the American Tobacco Campus and a contemporary brewery scene add to Durham’s cultural side, while nearby local parks, including Sarah P. Duke Gardens and Eno River State Park, offer residents the chance to easily explore the outdoors.

Easily accessible transportation nearby includes Interstates 40, 540 and NC-147, which provide unparalleled access throughout the Triangle region. Each highway is accessible within a few minutes from the new community.

Alta Davis will offer a conveniently located community with large apartments and abundant amenities. Once complete, Alta Davis will include 403 units across seven buildings, each four stories. All units will be elevator-served and will include high-quality finishes and amenities such as quartz counters, tile backsplash and hardwood-style flooring. On-site amenities include a coffee bar, game room, high-tech fitness center, and saltwater swimming pool in addition to abundant co-working space.