Thursday, February 26, 2009

Featured Real Estate Business Online


DEL-SANO SELECTED FOR SENIOR HOUSING PROJECTWEST CALDWELL, N.J. — Union, N.J.-based Del-Sano Contracting Corp, has been selected to provide general contracting services for the construction of Phases II and III of Crane’s Mill, a 35-acre senior housing facility located in West Caldwell that is being developed by Lutheran Social Ministries of New Jersey. The project is expected to cost $27 million, and construction will begin this month. Phase II will include the construction of 70 independent units with 47 underground parking spaces, as well as 10 cottages with attached garages. The independent living units will be located in a two-story building attached to the existing central facility. Phase III of Crane’s Mill will encompass 20,000 square feet of new and existing space. A new wing will be added that will house the memory support area, a dementia courtyard and renovated common areas for the assisted living areas. Construction will also include the conversion of 18 of the facility’s 60 assisted living units into dementia units. Upon completion, Crane’s Mill will contain 286 independent living units, 48 assisted living units and 18 dementia units, with 66 of the units set aside for skilled nursing and rehabilitation services. The first phase of the community was completed in 1998. MARCUS & MILLICHAP BROKERS 120-UNIT APARTMENT SALELEVITTOWN, PA. — Marcus & Millichap has brokered the sale of Avalon Court Apartments, a 120-unit, garden-style apartment community located in Levittown. Situated on 6 acres on Bristol Oxford Valley Road, the property contains 11 three-story brick buildings. Clark Talone and Ridge MacLaren of Marcus & Millichap’s Philadelphia office represented the seller, Avalon Partners, and procured the buyer, a regionally based partnership. The acquisition price was not disclosed. http://www.rebusinessonline.com/news_archive/2008/August/08-08-08.shtml

No comments:

Post a Comment