CHARLESTON, S.C.–(BUSINESS WIRE)–Apr 23, 2019–A new community opening this summer in Charleston is committed to enhancing life on the peninsula, showing its residents a lifestyle approach well beyond four walls and unlike anything else that can be found in the city. Set to open July 1, 511 Meeting Street is a 1.26-acre, multi-family development with 221 homes, on-site parking and the most common space of any apartment community on the peninsula. The project is a joint venture among Origin Investments, Spandrel Development Partners, Aspen Heights and equity partner Northwestern Mutual. CF Real Estate Services (CF) has been selected as the property manager.
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Multi-family development opens July 1; community to offer unparalleled amenity space (Photo: Business Wire)
“Discerning residents are demanding a choice of elite amenities, whether walking their dog, entertaining a client, or enjoying worry-free relaxation in an unequaled atmosphere,” said Sharon Hatfield, COO of CF. “Bringing that standard to life begins with spaces that are designed and built with the resident top of mind. We are pleased to be a part of the success that began with our strategic partners in this initiative.”
Utilizing technology and services that offer a seamless experience for residents, 511 Meeting Street shows how a thoughtful approach to residential design allows for an independent, yet connected, lifestyle. Featuring the largest amount of “uncommon” common space available to apartment dwellers in Charleston, 511 Meeting Street offers more than 9,000 square feet where residents can work privately, engage with one another socially or professionally, focus on their wellness through a custom-designed fitness menu, enjoy community gatherings and more. Custom playlists and even a signature scent help create the atmosphere that will be unique to 511 Meeting Street.
“It’s the connection to the resident that will really set us apart,” Dan Boyle, senior property manager for 511 Meeting Street, said. “A diverse and engaged team here on staff will each bring their own perspective to the community and will be in charge of planning events that celebrate that individuality.”
Pre-leasing activities for the community have already generated significant interest from a broad range of residents in the area. The 221 homes in the community’s 127,000 leasable square feet range from 439 square feet studios to two-bed, two-baths offering 1,168 square feet. The community is built around what was originally a Charleston grocery store and, to embrace that heritage, elements of that building remain and will house two studio apartments and select retail.
Amenities at 511 Meeting Street show an impressive level of thought and attention to detail. The fitness center and yoga studio not only offers premier Precor equipment, but also a cadre of fitness classes that rotate monthly. Getting outside, residents will enjoy their own dedicated weekly running club that will also interact with other running clubs around the city. For four-legged residents, 511 Meeting Street will offer an on-site “Paw Spa,” enabling (human) residents to easily groom their best furry friend at the dedicated wash station. Other on-site services allow guests to store and service their own bikes, or share one to ride around and enjoy Charleston’s sights.
Communal space for work and play is part of the ethos of 511 Meeting Street. A club room on the second floor features dark wood elements that give the space a distinctively mid-century modern vibe (“Mad Men” fans will rejoice) in a space that also opens to the outside pool deck via cascading doors and windows. A double-sided fireplace and a prep kitchen and bar will help to create an inviting space residents will want to enjoy daily. A community café and lounge on the ground floor will serve as a communal workspace with complementing private conference rooms that can flex to meet the needs of a variety of groups, while al fresco dining spaces on two different floors offer yet another way to enjoy the Charleston weather together with friends.
Amenities expected by today’s connected professional are an integral part of 511 Meeting Street. Residents will have 24-hour access to services and offerings via the 511 Meeting Street custom app, which helps staff provide an extra level of convenience and service for residents. Notifications for packages received in the package locker system, community news and announcements, and a way to request maintenance or get answers to other questions are there.
“There will be so many places to hang out here and things to do that are beyond the walls of your apartment home,” Boyle said. “At 511 Meeting Street, residents will find a culture and a meaningful way to get to know their neighbors. This whole area is coming to life.”
CF Real Estate Services (CF) is an award-winning, multifamily real estate company with properties across the Southeast, Mid-Atlantic, Central, and Midwest regions of the U.S. With decades of industry experience, the company has evolved into a leading provider of multifamily services that include property management, asset management and consulting.
Origin Investments (“Origin”) is a Chicago-based real estate investment firm that acquires, improves and operates commercial real estate properties in ten of the fastest growing U.S. markets. The firm was formed as a family office in 2007 by its principals, David Scherer and Michael Episcope. The principals later expanded their investments to include other accredited investors who shared their same values and objectives.
To date, the principals have invested $54 million of their own capital in Origin’s funds to ensure a substantial alignment of interests. Origin’s institutionally-trained investment professionals have over 90 years of industry experience. To date, Origin has executed more than $1.2B in real estate transactions and has more than $775 million in assets under management.
Origin’s investment strategy is to acquire income-generating real estate that possesses opportunity for property appreciation through renovations and capital improvements. Origin recently raised $151 million for Origin Fund III and is currently fundraising for its Qualified Opportunity Zone and IncomePlus Funds.
Aspen Heights Partners develops and manages a diverse nationwide portfolio of real estate assets. Since its founding in 2006, the company has developed 36 residential properties, totaling more than $1.5 billion in value, with a robust pipeline of future developments. This growing company is driven by a commitment to push the bar of innovation and excellence in multi-family development and management. Visit ahpliving.com to learn more.
Spandrel Development Partners (“Spandrel”) is a multi-disciplined equity real estate development firm. Based upon its proprietary analysis Spandrel pursues opportunities for conversion, capital improvement and ground-up development in targeted U.S. markets based on strong and thriving economic and demographic indicators. Currently focused on the multi-family, student, hospitality, industrial and retail market segments Spandrel leverages its principals’ decades of development and investment experience on the creation of long term value. www.spandreldevelopment.com
Northwestern Mutual Real Estate (“NMRE”) is one of the largest real estate investors in the nation, with investments in commercial mortgages and equity investments across all major property types, including apartments, office, retail and industrial. The $45+ billion real estate investment portfolio is composed of approximately 80 percent fixed income and 20 percent equity investments. Northwestern Mutual Real Estate is a financing source that provides experienced and knowledgeable people, quick and decisive action and flexible, creative solutions.
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CONTACT: Ryan Perez
(404) 459-6242
KEYWORD: UNITED STATES NORTH AMERICA SOUTH CAROLINA
INDUSTRY KEYWORD: BUILDING SYSTEMS REIT URBAN PLANNING CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: CF Real Estate Services
Copyright Business Wire 2019.
PUB: 04/23/2019 08:00 AM/DISC: 04/23/2019 08:01 AM
http://www.businesswire.com/news/home/20190423005086/en
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