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GROUND UP DEVELOPMENT EQUITY INVESTMENT PROJECTS
*A representative list of Ground Up Development Equity Investment Projects
Coconut Grove Residences, Fort Lauderdale, Florida
My partnership acquired a 20-unit cooperative, built in the 1950’s, from the homeowners association. The cooperative was replaced by a 14-story, 64-unit luxury condominium tower located on the sand in Ft. Lauderdale. Initially, the building was 90%+ sold out at average sale prices of approximately $1,000 per square foot, before the market was confronted with the Great Financial Crisis in October, 2007. My partnership remained on the project to complete the building and finish the sellout on behalf of the construction lender.
Liberty on the River, Philadelphia, Pennsylvania
This 18-acre parcel, located on the banks of the Delaware River, was acquired by a developer client in 2014, from a local union. The zoning allowed up to 3.0 million square feet of commercial and residential towers. Initial support provided to the developer client was performing all ground-up development modeling for individual towers and for the project as a whole. Assistance was also given toward the fulfillment of a HUD processing and underwriting for a construction loan. Additional services provided included assessing and revising marketing studies, and developing project narratives for each of the projects towers.
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