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$50.8M LOAN SECURED FOR LUXURY MULTI-FAMILY COMMUNITY

gold shovel ground breaking | Phillips Development & Realty

TAMPA, FL – Phillips Development & Realty (PDR) secured financing for its latest project, the $63M, 296-unit 4-story Sur Club apartment community in St. Petersburg, FL. A ground-breaking ceremony was hosted on Friday, November 22. Numerous community leaders and partners where on site for the event, including multiple members of the PDR team.

The construction of the 327,856 square feet project has begun and will include a 5-level pre-cast concrete parking garage abutting I-275. PDR programmed construction completion for 4th quarter 2021.

PDR closed a $50.8M loan for the class A market rate project through Love Funding Corporation.  PDR used the US Department of Housing & Urban Development’s Section 221(d)(4) new construction financing program. Sur Club is located at the southern Gateway to St. Petersburg and Pinellas County in the heart of the Skyway Marina District.  PDR is working closely with the City of St. Petersburg to add redevelopment into this area to jump start new market-rate housing and commercial development as part of the City’s Skyway Marina District Plan.  Sur Club Apartments is PDR’s Phase 2 of this mixed-use master planned development.  PDR delivered Phase 1 of the mixed-use development, a 100,000 square feet Cube Smart Storage building, in Fall 2018 which is currently in lease-up.  Phase 3 of the development will include restaurants on the West side of the projects along US 19.

The one, two, and three-bedroom apartments of Sur Club will feature Energy Star stainless steel appliances, granite countertops in kitchens and bathrooms, and 42” cabinetry. The community amenities will include a high-end clubhouse with a separate 24/7 fitness center, business centers, media rooms, four elevators, luxurious landscaping, and two resort-style pools within the courtyards. PDR will also be securing a Nation Green Building Certification for Sur Club.

The General Contractor is Capstone Building Corp. of Birmingham, AL.  Capstone recently completed the 179-unit multi-family development Villas at Mallard Creek, located in Charlotte, NC, for PDR.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in developing multi-family communities, self-storage facilities, and tunnel-style car washes, building progressive projects throughout the United States. PDR is currently facilitating nineteen projects in four different states. For more information, visit www.phillipsdevelopment.com.

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PHILLIPS DEVELOPMENT & REALTY COMPLETES LUXURY APARTMENTS –VILLAS AT MALLARD CREEK IN CHARLOTTE, NC

aerial view of apartment building with pool

CHARLOTTE, NC- Tampa, FL based Phillips Development & Realty (PDR) is excited to announce the completion of construction of the 179-unit Villas at Mallard Creek Apartments. On Aug 12, 2019, PDR received the last certificate of occupancy on the five-buildings and has residents quickly moving-in to absorb the units. The project was completed in 18 months.

The multi-family project is located in Charlotte, NC and consists of one, two, and three-bedroom apartments with clubhouse, pool, and gym. The $25M project is 167,000 sq. ft. of total rentable space.  Located at 1840 Ripple Way and just off W. Mallard Creek Church Road, the apartments are convenient to UNC-Charlotte, University City, I-85, the I-485 Loop, University Research Park, the Blue Line, and more. Villas at Mallard Creek is the second phase to the adjacent Phillips Mallard Creek Apartments. Both phases together total 503 units.

Apartment amenities include stainless steel appliances, washer and dryer in every unit, Wi-Fi/cable included, resort style pool, modern fitness center, clubhouse, and more. The new apartments are also energy efficient, featuring energy star appliances, ductless 18 SEER HVAC systems, and cost saving LED lighting throughout. Villas at Mallard Creek is certified for energy efficiency by the National Green Building Standard.

“We are excited to offer our residents advanced energy efficient units with the latest in Wi-Fi technology. From wooded hilly views to individual temperature control in each room… these apartments are efficient, technologically advanced, and located in the center of growth at the I-85 and UNC Charlotte corridor,” commented PDR’s COO, Kevin Johnston.

This new residential community will benefit students, young professionals, and families connected with the University of North Carolina at Charlotte (UNC-Charlotte), IBM, University City Business Parks, and more. Villas at Mallard Creek is also convenient to the Blue Line, shopping, and medical facilities.

The architect for this project was Andron Architects and Associates, based in Raleigh, NC. Charlotte-based Urban Design Partners was the civil engineer and general contractor was Capstone Building Corp. of Birmingham, Alabama.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in developing multi-family communities, self-storage facilities, and tunnel-style car washes, building progressive projects throughout the United States. PDR is currently facilitating eighteen projects in four different states. For more information, visit www.phillipsdevelopment.com.

 

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Phillips Development & Realty Announces the Completion of $3.6M Energy Demonstrator Apartment Building in Charlotte, NC

exterior of apartment building | Phillips Mallard Creek

Phillips Development & Realty Announces the Completion of $3.6M Energy Demonstrator Apartment Building in Charlotte, NC 

  • Brand new luxury apartment building in Charlotte, NC
  • 24 energy-efficient apartment homes added to Phillip Mallard Creek Apartments
  • Residents can expect lower utility bills

CHARLOTTE, NC – Tampa, FL based Phillips Development & Realty (PDR) is excited to announce the completion of construction at Phillips Mallard Creek Apartments, Building 5. On May 28, 2019, PDR completed the construction of the $3.6M energy demonstrator 24-unit multi-family building in Charlotte, NC. The building has 12 one-bedroom and 12 two-bedroom units and is located at 655 W. Mallard Creek Church Road near UNC-Charlotte.  Adding to the existing Phillips Mallard Creek (PMC) Class A community, these 24 energy-efficient luxury apartment homes go beyond an EPA energy star rating.

During Energy Star’s Design Intent engineering assessments, the project scored 97 out of 100 possible points for efficiencies—a nearly perfect score. Our development team worked closely with mechanical, electrical, and plumbing engineers to carefully select systems, building features, and appliances. These systems will not only reduce energy costs for residents but will also serve as a demonstration for an energy efficient development. “We integrated the most advanced building systems and energy efficiencies into this building that are generally only available in a highly customized home… we hope PDR’s residents see substantial savings in their energy costs and we can apply them to future developments,” stated Hubert Proctor, Senior Superintendent Capstone Building Corp.

This unique building features energy efficient Fujitsu ductless HVAC, gas appliances to include Rinnai tankless water heaters, CREE LED lighting, Icynene insulation, and more. “We are excited to compare efficiencies of the new building to the existing 300-unit energy star compliant Mallard Creek development.” commented PDR’s COO, Kevin Johnston.

The architect for this project is The Preston Partnership, based in Atlanta, GA. Electrical Engineering was accomplished by St. Petersburg-based Power Designs. Urban Design Partners was the Civil Engineer , and the General Contractor is Capstone Building Corp. of Birmingham, AL. Funding for the project was through Newmark Knight Frank using US Housing and Urban Development’s 241(A) Program.

With the addition of Building 5 and the near completion of Villas at Mallard Creek (Phase II), there will be a total of 503 residential units available at this ideal location in  Charlotte.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in the multi-family and storage industry, building progressive projects throughout the United States. PDR is currently facilitating eighteen projects in four different states. For more information, visit www.phillipsdevelopment.com.

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Blue Water Wash, LLC Announces Purchase of St. Petersburg Car Wash with Plan to Operate and Rebrand as Woodie’s Wash Shack

Blue Water Wash, LLC Announces Purchase of St. Petersburg Car Wash with Plan to Operate and Rebrand as Woodie’s Wash Shack

TAMPA, FL – Tampa based Blue Water Wash, LLC is pleased to announce the purchase of Mt. Washmore car wash in St. Petersburg, FL. The purchase of the 1.2-acre car wash facility was closed on May 22, 2019. The express car wash, located at 5601 N 66th Street, is now operating as Woodie’s Wash Shack. This vintage surf-themed car wash will bring an exciting new experience to existing and new customers, offering variety of automated wash levels, monthly unlimited memberships, free vacuums, and on-site attendants. Technical upgrades and rebranding efforts are expected to be completed by late Summer 2019. The total investment in updates is expected to be $6.5M. A grand opening event is scheduled for later this summer (date TBA).

Woodie’s Wash Shack is a brand-new express car wash experience with plans to expand throughout the Southeast. Customers at Woodie’s Wash Shack can expect the fun and excitement of surf culture with the customer service of the 1950’s. Donald Phillips, Managing Director said, “We are creating a place where people of all ages love to come… while getting the best car clean in the business at a great price.” Glen Stygar, Blue Water Wash Development Partner, stated, “This St. Petersburg location is ideally situated for our first Woodie’s Wash Shack in Florida. There are approximately 42,000 cars that pass by the business daily. We believe we can serve this market well.”

About Woodie’s Wash Shack

OUR GOAL IS TO PROVIDE EVERY CUSTOMER WITH THE BEST CAR WASH EXPERIENCE IS THE BUSINESS.

Since the 1950’s a lot has changed, and while we look to the mid-century for inspiration here at Woodie’s we don’t think your car wash should still operate like it’s last century! Woodie’s is revolutionizing the car wash business by creating an organization with our customers and communities in mind. We invested in top of the line equipment and products to ensure that our customers get an exceptional wash each time.

BWW is currently facilitating 15+ projects throughout the Southeast. For more Woodie’s Wash Shack news and information, visit: https://woodieswash.com/.

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Blue Water Wash Announces Closing on Memphis, TN Property to Build Woodie’s Wash Shack

Blue Water Wash Announces Closing on Memphis, TN Property to Build Woodie’s Wash Shack

  • Blue Water Wash purchased property at 3294 Poplar Avenue on May 20, 2019
  • The existing Century Building will be torn down to house the new Woodie’s Wash Shack
  • Woodie’s Wash Shack is a vintage surf-themed express car wash experience with proposed locations throughout the Southeast

 

Memphis, TN— On May 20, 2019, Tampa based Blue Water Wash (BWW) is excited to announce that they have closed on a property at 3294 Poplar Avenue in Memphis, TN. This site will be the future home of Woodie’s Wash Shack, an express wash tunnel and car wash experience featuring free vacuum and onsite attendants. Monthly unlimited wash packages will be available for purchase, giving customers freedom and flexibility at this vintage surf-themed car wash.

 

BWW Development Partner, Glen Stygar Managing Director, Donald Phillips worked extensively with Barry Maynard and Frank Dyer III of Loeb Realty Group (Memphis, TN) on this purchase. Rich’s Car Wash (Mobile, AL) added valuable research and industry expertise throughout the purchase.

 

Woodie’s Wash Shack is a proposed .88-acre facility that will be built from the ground-up. The existing Century Building will be torn down to make way for Woodie’s Wash Shack. BWW has chosen this location in Memphis as a viable market to introduce our express wash platforms. 3294 Poplar Avenue is located in a desirable Memphis corridor with approximately 30,000 cars passing by daily. This area of Memphis is currently underserved in the express wash market.

 

Blue Water Wash did need a minor zoning exception to build at 3294 Poplar Avenue. In order to meet the needs of residential neighbors, the Board of Adjustment approved the car wash with the condition that BWW would provide a business buffer via a pocket part and a shadow-box fence. MBH Architect has been tasked with developing the plans for the new facility along with Civil Engineering from ETI Corporation.

 

Ground breaking and construction is expected to commence by September 2019. The project is slated for completion during the first quarter of 2020. BWW is expecting to delivery multiple Woodie’s Wash Shack locations throughout the Southeast within the next year. Currently there are more than 15 sites in predevelopment, including other potential Memphis locations.

 

About Woodie’s Wash Shack

 

OUR GOAL IS TO PROVIDE EVERY CUSTOMER WITH THE BEST CAR WASH EXPERIENCE IS THE BUSINESS.

 

Since the 1950’s a lot has changed, and while we look to the mid-century for inspiration here at Woodie’s we don’t think your car wash should still operate like it’s last century! Woodie’s is revolutionizing the car wash business by creating an organization with our customers and communities in mind. We invested in top of the line equipment and products to ensure that our customers get an exceptional wash each time.

 

BWW is currently facilitating 15+ projects throughout the Southeast. For more Woodie’s Wash Shack news and information, visit: https://woodieswash.com/.

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Phillips Development & Realty Announces Sale of 3400 Selwyn multi-family

August 1, 2018- Phillips Development & Realty (PDR) is excited to announce the sale of 3400 Selwyn in Charlotte, NC. This 129-unit multi-family apartment complex was built in 1972. It sits on 8 acres total and is located at 100 Matador Lane. 3400 Selwyn is located in the prominent community of Myers Park in close proximity to Queens College and features studio and one bedroom apartments.

 

The purchaser is Covenant Capital Group, LLC, a Nashville-based value-add real estate investment manager which focuses on acquiring apartment communities in high-growth southeastern and mid-Atlantic markets.

The transaction between Phillips Selwyn and Covenant Capital Group, LLC was closed on July 27, 2018 for $14.8M.

PDR acquired 3400 Selwyn in June 2007 and completed numerous renovations in the 11 years PDR owned and operated the apartment community. According to Donald Phillips, Managing Director of Phillips Development & Realty, “This has been among the best and most consistent properties we have owned, and it’s rewarding to see the property slated for extensive renovations.”

 

Brian Ford, A.J. Klenk, Jad Richa, and Ron Corrao of Capstone Apartment Partners recently brokered the sale of 3400 Selwyn. According to managing partner, Brian Ford, “The interest in and competition for 3400 Selwyn was notably intense, with Capstone producing record numbers of highly qualified offers and tours during our marketing period. This asset is an ideal fit for many different investor types, given the short and long-term value-add opportunities, timeless location, and future development potential on the adjoining 2.4 acres. We continue to see demand far outpace the supply of well-located value-add investment opportunities across the Carolinas, and see no immediate end in sight.”

 

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in the multi-family and storage industry, building progressive projects throughout the United States. PDR is currently facilitating eighteen projects in four different states.

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Phillips Development & Realty Closes On Yet Another HUD Financed Multi-Family Project

Phillips Development & Realty (PDR) is excited to announce the ground breaking and start of construction of Phillips Mallard Creek Apartments, Building 5. On May 31, 2018, PDR closed a $3.6M loan for this energy demonstrator multi-family project. Financing for the loan was secured through Berkley Point Capital, LLC using US Housing and Urban Development’s 241(A) Program.

This 24-unit project will be an expansion of the existing 300-units located at 655 W. Mallard Creek Church Rd, Charlotte, NC. Building 5 is scheduled to be completed in the first quarter of 2019.

PDR is excited to have this energy demonstrator building added to the existing Phillips Mallard Creek (PMC) Class A community. The goal for this building is to construct 24 energy efficient luxury apartment homes that will go beyond an EPA energy star rating. During Energy Star’s Design Intent engineering assessments, the project scored 97 out of 100 possible points for efficiencies—a nearly perfect score. Our development team worked closely with mechanical, electrical, and plumbing engineers to carefully select systems, building features, and appliances. These systems will not only reduce energy costs but will also serve as a demonstration for an energy efficient development.

This unique building will feature energy efficient Fujitsu ductless HVAC, gas appliances to include tankless water heaters, LED lighting, icynene insulation, and more. PDR is expecting to see lower utility bills at this building, which will offset rental costs to our residents, thus improving their quality of life. The company is excited to compare efficiencies of the new building to the existing 300-unit energy star compliant PMC development.

The architect for this project is The Preston Partnership, based in Atlanta, GA. Electrical Engineering was accomplished by St. Petersburg-based Power Designs. Urban Design Partners is serving as the civil engineer for Building 5, and the general contractor is Capstone Building Corp. of Birmingham, Alabama.

Upon completion of Building 5 and Phillips Mallard Creek Phase II, there will be a total of 503 residential units available at this location.

ground breaking with gold shovels
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Phillips Development & Realty Completes Construction on CubeSmart Self-Storage in Raleigh

June 29, 2018- Phillips Development & Realty (PDR) is excited to announce the completion of a new self-storage facility in Raleigh, NC. The ribbon cutting and grand opening ceremony took place on Wednesday, June 13, 2018.  The 756-unit facility is located at 7710 Alexander Town Boulevard in the Brier Creek area of Raleigh.

Guests in attendance included investors, property vendors, contractors, facility teammates, and Phillips employees.  Ceremonies included a ribbon cutting, tours of the facility, and social hour. Guests enjoyed refreshments and light snacks.

This new 4-story building offers 65,110 square feet of rentable space. Featuring 756 storage units, 2 elevators, full climate control, and a spacious office area. This facility is easily accessible from Highway 70 and the Brier Creek area of Raleigh-Durham.

The property is being professionally managed by CubeSmart, one of the top three operators of self-storage facilities in the United States.

PDR chose the Brier Creek area as a viable self-storage market based on Raleigh’s long-term development plan and growth pattern. The new store will benefit businesses, students, young professionals, and families in Raleigh-Durham (RDU) metropolitan area, including the areas of Research Triangle Park.

Capital for development of the project was provided by Jernigan Capital, Inc. (NYSE:  JCAP).  PDR and JCAP are co-invested in five self-storage projects around the United States, including the Brier Creek project.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in the multi-family and storage industry, building progressive projects throughout the United States. PDR is currently facilitating eighteen projects in four different states.

CubeSmart building exterior
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Phillips Development & Realty Breaks Ground on Phillips Mallard Creek Apartments, Phase II

Phillips Development & Realty (PDR) is excited to announce the official groundbreaking for Phillips Mallard Creek Apartments, Phase II. The groundbreaking ceremony took place on Tuesday, June 12, 2018 at Phillips Mallard Creek, in Charlotte’s University area.  The 179-unit project will expand upon the existing 300 units at Phillips Mallard Creek Apartments. Phase II is scheduled to be completed in the second quarter of 2019.

Guests in attendance included investors, property vendors, and Phillips employees.  Ceremonies included breaking ground with golden shovels, a ribbon cutting, and a short speech. Guests enjoyed refreshments and light snacks.

This new Class A community will have its own leasing office and amenities. Those amenities will include a clubhouse, pool, gym, coffee area, and walking trail. The multi-family residences will be spread across nine acres, surrounded by mature woods.

artist rendering of apartments

The $25M project will provide 167,000 sq. ft. of total rentable space. PDR expects the first unit to be available to rent in the first quarter of 2019. Project completion is scheduled for the second quarter of 2019. Ovation Property Management is targeted to manage this property.

PDR has chosen Charlotte as a viable expansion market based on the city of Charlotte’s long-term development plan. This new residential community will benefit students, young professionals, and families connected with the University of North Carolina at Charlotte (UNC-Charlotte), IBM, University City Business Parks, and more. Phillips Mallard Creek, Phase II is also convenient to the Blue Line, shopping, and medical facilities.

The architect for this project is Andron Architects and Associates, based in Raleigh, NC. Charlotte-based company Urban Design Partners is serving as the civil engineer for Phase II. The general contractor is Capstone Building Corp. of Birmingham, Alabama.

About Phillips Development & Realty

Phillips Development and Realty (PDR) is headquartered in Tampa, Florida. Since 2001, PDR has demonstrated itself as a leader and innovator in the multifamily industry, building progressive projects throughout the Southern United States. PDR is currently facilitating eighteen projects in four different states.

ground breaking group photo
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Phillips Under Contract for New Orleans CubeSmart Development

Tampa, FL, June 18, 2018– Phillips Development & Realty (PDR) currently has an investment deal under contract for a proposed multi-story, climate-controlled, self-storage facility in Jefferson Parrish, New Orleans, LA.

The new CubeSmart self-storage will be fully conditioned and climate controlled, featuring 750 units available to rent. CubeSmart will manage the facility once it is operational.

The proposed 100,000 square-foot facility will be a ground-up, three-story project, located at 2401 Hickory Avenue. PDR has chosen Jefferson Parrish as a viable market to introduce our self-storage platforms.

The architect for the new facility is Open Workshop, based in Tampa, FL.

Construction for this project is being funded by Jernigan Capital (JCAP). This is our sixth deal with JCAP.

Ground breaking and construction is expected to commence during the fourth quarter of 2018. The project is slated for completion during the second quarter of 2019.

About Phillips Development & Realty

We are an award-winning company that has been recognized in all facets of the real estate and development industry. PDR is committed to consistently exceeding industry standards and is dedicated to providing unparalleled quality, service, and satisfaction.

PDR is currently facilitating eighteen projects in four different states.

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