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BUSINESS NEWS JCJ ARCHITECTURE TAPPED TO DESIGN NEW BUILDING FOR BARRIER FREE LIVING JCJ Architecture announced the firm will design a groundbreaking new project for Barrier Free Living, a leading NYC community nonprofit that provides services and support for survivors of domestic violence with disabilities. The $30 million project is anticipated to break ground in Fall of 2019 with completion planned for January 2021. The new 65,000 square foot facility will provide permanent housing specifically to meet the needs of this population and will include 74 apartments, administrative offices, a rear garden, an elevated outdoor recreation area, and community and support spaces. The building will challenge assumptions about the aesthetics associated with supportive housing and create a more direct and engaged relationship for residents with the surrounding environment. The new facility is intended to efficiently serve the needs of BFL’s clients, to provide a sense of pride, place and home for residents, and to create a unique architectural presence in the rapidly changing neighborhood where the East Village and Lower East Side converge. “BFL is a forward-looking organization that works to achieve a vision where individuals with disabilities can be free from barriers that prevent them from reaching their fullest potential,” said Peter G. Bachmann, AIA, Principal-in-Charge with JCJ Architecture. “The JCJ team has fully embraced the complexities of the project and the BFL mission to support individuals with disabilities in living dignified lives. This project presents an opportunity to positively influence this dynamic organization’s work in keeping New York City a vibrant and diverse community that maintains its commitments to all residents.”
Inspired by the parameters of Mayor de Blasio’s Housing NYC Plan, this project will provide affordable housing and support services for a grossly underserved population. The project team will work alongside agencies and stakeholders including NY State Home and Community Renewal, ESSHI and NY City Board of Standards & Appeals. Funding for related services and rent support will come from the Empire State Supportive Housing Initiative. Founded in 1936, JCJ Architecture is an employee-owned firm with offices in Atlanta, Boston, Hartford, Las Vegas, Los Angeles, New York City, Phoenix, San Diego and Tulsa. JCJ is recognized nationally as one of the country’s most respected architecture firms, providing clients with comprehensive planning, architecture and interior design services. Having built a diverse practice by integrating rigorous management with the highest standards of design and client service, JCJ works across a broad range of project types for civic, public safety/justice, K-12 and higher education, cultural, gaming and hospitality. MADISON REALTY CAPITAL PROVIDES $67.5M ACQUISITION AND COMPLETION FINANCING FOR TRANSIT-ORIENTED MULTIFAMILY DEVELOPMENT IN HARRISON, NJ Madison Realty Capital closed a $67.5 million loan collateralized by a 205- unit multifamily development project and an adjacent development site approved for 435 multifamily units. The loan facility allows the borrower, a partnership of Accordia Realty Ventures and Eastone Equities, to acquire both sites and finish construction of the 205- unit first phase of the project, which is currently topped off and approximately 60 percenta complete. The previous owner of the sites undertook substantial construction and site work before the acquisition by the Accordia/Eastone
partnership, including the top-off of the Phase I structure, and completion of all site preparation work and infrastructure for both phases. The first phase of 700 Frank E. Rodgers Boulevard is expected to be finished by Spring 2019. In addition to Accordia as sponsor, the development team includes Hollister as general contractor, NK Architects as design architect, Studio 1200 as interior designer, and The Marketing Directors as leasing and marketing agent. The sites, located along Frank E. Rodgers Boulevard in Harrison, sit adjacent to the PATH train station which was recently reopened after a $35 million renovation and expansion. Harrison is situated along the transit corridor between New York City and Newark, and this direct transportation access has helped established Harrison as a popular residential area and development hot spot. “MRC’s internal development expertise helps us move quickly to serve borrower needs on the lending side,” said Josh Zegen, Co- Founder and Managing Principal of MRC. “In this case we were able to rapidly assess and underwrite the deal in order to deliver on a time-of-the-essence closing schedule. The deal was done within three weeks from start to finish. We believe that combination of the strong Harrison multifamily market and the development team’s experience will make the project successful. We also like the risk mitigation associated with the amount of construction and site work that is already done.” NK Architects is a full-service architectural, interior design, planning and structural engineering firm with offices in Morristown, New Jersey, and New York City. We were founded in 1972 on the commitment to client service and the pursuit of excellence in architecture.
CONFERENCE CALL, from page 7
group dives deep into the results of the survey and compares them to pre- vious years to see where we are trend- ing in the right direction and where we need improvement. This year’s survey study resulted in some major revisions to our benefits such as improving our maternity/paternity and part-time policies. TZL: Are you currently pursuing the R&D tax credit? MP: We have participated in the R&D tax credit the last few years and have been able to reinvest this credit back into the company through purchases, better benefits, and other research and development initiatives.
30th anniversary party for PES Structural Engineers.
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THE ZWEIG LETTER February 4, 2019, ISSUE 1282
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