Thatcher

Experience

Our consulting practice secured development rights and financing for our client Morningside Development for the ground up development of this 100,000 s.f. multifamily housing project. The Transit Oriented 21M development transformed a 15+ year blighted property, into quality 103 units of market rate housing. The project is within a block from a major train station with immediate access to major highways.

Relationships

• 6.28% 30 Year PILOT and Redevelopment Agreement with the City of East Orange governing board
• Construction Loan and Permanent Financing – Investors Bank
• Preliminary and Final Planning Board Approvals

Project management

• Preliminary and final Planning Board approvals in one month
• Project Team selection
• Structuring and Securing of Financing within 6 months
• Superior risk adjusted returns with use of municipal subsidy
• Increased site value of 3M post approvals