24D — March 2023 — The Best of 2022 — M id A tlantic Real Estate Journal
www.marej.com
The BEST of 2022
CREATE Architecture Planning & Design Lincoln Plaza Langhorne, PA The BEST SHOPPING CENTER RENOVATION of 2022
Greysteel Belmont Crossing Washington, DC The LARGEST CRE INVESTMENT FIRM PROJECT of 2022
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IMC Construction People’s Security Bank & Trust Doylestown, PA The BEST RETAIL PROJECT of 2022 The buyer, a partnership led by Gilbane Development, will execute the development plan which includes multiple phases of new construction, resulting in the creation of several hundred luxury Affordable Housing units in Southeast Washington, DC. The project will be financed with Federal and State Low-Income Housing Tax Credit (LIHTC) Equity, as well as subordinate loan funding provided through DC’s Housing Production Trust Fund. Built in 1952, Belmont Crossing is a 275-unit affordable housing property located at 4201 7Th Street SE, Washington, DC, that will undergo a complete redevelopment which is expected to begin in the very near future. Since acquiring the property in 2018, the Seller, a partnership led by TM Associates of Rockville, MD, worked with the local community to re-zone the underlying land and formed a plan to completely replace the existing, obsolete housing that exists today.
Type of Project: Shopping Center Renovation / Transformation Size: 257,000 SF
Lincoln Plaza was a tired shopping center in need of a transformation not just a refresh. Tenants were relocated and repositioned to accommodate a new Grocer, new to market tenants were introduced to the roster and a complete makeover of the façade was completed along with new landscaping, amenities and FF & E. The end result is a packed parking lot including 10 AM on Mondays!
DIGroup Architecture Budd Bioworks Philadelphia, PA The BEST STRATEGIC CAMPUS PLANNING of 2022
Type of project: Multi-Phase Redevelopment / Bio Manufacturing Size: 650,000+ SF In the heart of Philadelphia’s life sciences “Eds & Meds” innovation corridor, DIGroup is spearheading the strategic planning of the former Budd Factory site as a bio-manufacturing hub with state-of-the-art lab space. The firm has been tasked with creating a unified, urban campus with an array of community gathering spaces. A central amenity structure – repurposed from its original use as a power building – will serve as a visual anchor with a towering brick smokestack. It will be enhanced with and surrounded by an outdoor plaza, water features and a curving Budd Factory graphic-history wall. The plan integrates vehicle parking, truck access, loading/receiving areas and security that are key functional requirements for a successful bio-cluster campus.
A new, two-story, bank, administrative offices and remote teller for Scranton-based Peoples Security Bank & Trust Co. The project includes complete rework of the existing site and utilities, a ground-up 4,200-SF bank with brick and precast façade and remote teller canopy with dual drive aisles. The new building also includes indoor teller space and second floor offices/conference areas.
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