Property Type: condominium
Location: Marco Island, Florida
Size: 16 stories/102 units/ 435,000 square feet + a 100,000-square-foot garage
Start Date: April 2003
Completion Date: January 2005 (estimated)
Project cost: around $65 million
Unique Features: The property will be connected to the existing Marriott Hotel, with access to hotel amenities.
Owner: Mass Mutual Insurance Co.
General Contractor: not selected
Pre-construction Services: Kraft Construction
Design Architect: SB Architects
Architect of Record: HKS

“Although the project is 16 stories, it has a residential feel. The building design has full roofs, which will set it off from the rest of the architecture on Marco Island,” says Joe Andriola, senior associate in the Miami office of SB Architects.

Property Type: Mixed-use, includes condominium, office space and street level retail
Location: Atlanta, Georgia
Size: 25 stories / 167 units / 210,000 square feet of residential. (The amount of office space is to be decided; retail space includes 1,500 square feet + a 30,000-square-foot Children’s Museum.)
Start Date: February 2001
Completion Date: January 2003
Project Cost: $130 million
Unique Features: Museum Tower features Atlanta’s first ever children’s museum.
Owner: Centennial Hill Development Partners
Developer: Centennial Hill Developers, a joint venture of Southeast Capital Partners, Inc., Harold A. Dawson Company and Selig Enterprises
General Contractor: Whiting-Turner (exterior), Cambridge Builders (Interior)
Architect: Smallwood, Reynolds, Stewart, Stewart & Associates

“The mixed-use concept is certainly a plus in marketing the residential portion. However, the timing of development of the various uses is very important. Buyers of condominiums want to know what and who the other users are going to be. The inconvenience of living through construction also needs to be addressed. This means is that it is important to have the retail and office portions of the mixed-use development put together (major tenants signed and construction underway) before you begin marketing a condominium,” says Satish Lathi, principal of Southeast Capital Partners, Inc.

Property Type: apartments
Location: 300 Massachusetts Avenue, Washington, D.C.
Size: 14 stories / 372 units / 362,000 square feet
Project Cost: $83.5 million
Unique Features: The project will also include the rehabilitation of historic townhomes, which will be converted to apartments with live/work studios. Additionally, the building is designed with four separate elevations, including traditional and modern facades, to create the feeling of distinct buildings constructed over time.
Developer: Pritzker Residential and Prudential Real Estate Investors
General Contractor: Clark Realty Builders
Architect: SKG Architects and Planners LLC
Financing provided by: Northwestern Mutual

“The (multifamily) high-rise market in the Southeast is generally limited to high-cost urban centers with strong demographics and high concentrations of jobs. This is especially true for rental properties, though I would expect over the next 3 to 5 years to see more high-rise condominiums targeting empty nesters,” says Richard L. Boales, vice president of Pritzker Residential.

Property Type: condominium
Location: 1331 Brickell Bay Drive, Miami, Florida
Size: 48 stories / 336 units / 638,000 square feet sellable; over 1 million square feet gross
Expected sell out value: $280 million
Unique Features: The waterfront glass tower will feature floor-to-ceiling glass walls that offer dazzling views of the city and bay.
Developers: Swire Properties and Fortune International
General Contractor: Pavarini
Architect: Luis Revuelta of Revuelta, Vega & Leon
Financing provided by: HSBC Bank USA