CHARLOTTE, NC - Crosland LLC, one of the Southeast's leading real estate companies, has earned finalist honors in three categories for the 2008 Pillars of the Industry Awards. Presented by the National Association of Homebuilders, the Pillars are considered the most prestigious awards in the multifamily industry. Crosland is a national finalist in three categories: Best Adaptive Reuse" for Alpha Mill in Charlotte; Best Affordable Apartment Community for Laurels of Junaluska in Waynesville, N.C and Most Creative Financing of an Affordable Apartment Community for Laurels of Junaluska.
Crosland's residential division developed both projects and manages Alpha Mill, while its contracting division oversaw construction. The company has previously earned NAHB Pillars recognition for its Birkdale Village mixed-use development, its Park at Oaklawn and Summerfield affordable housing communities, and its Westbury Lake garden-style apartments.
This is the third significant honor for Alpha Mill, Crosland's sensitive renovation of Charlotte's second cotton mill, which is a local Historic Landmark and listed on the National Register of Historic Places. Last year, the $23 million urban infill project won Historic Charlotte Inc.'s preservation award and a design excellence award from Multi-Housing News magazine.
The project integrates three original mill buildings with six buildings that were newly constructed using a complementary board and batten style similar to the original mill's outbuildings. There are 73 apartments in the historic mill building and 94 apartments in the new buildings, while the common area is located in the mill's old boiler room.
"The Alpha Mill renovation not only restored an important link to Charlotte's past, but it has spurred new investment in what had been a blighted industrial area," said Jud Little, who oversaw the project as president of Crosland's residential division before retiring last year. "The thoughtful design was embraced by residents."
Laurels of Junaluska meets a long-standing need for affordable senior housing in Haywood County, west of Asheville. Located on a pastoral hillside across from the Lake Junaluska Methodist Assembly, it includes 36 one-bedroom and 64 two-bedroom apartments overlooking Lake Junaluska and the mountains of Western North Carolina. Developed in conjunction with the Southeastern Methodist Association for Rehabilitation, the project is uniquely financed through U.S. Department of Housing and Urban Development tax credits, Federal Home Loan Bank Affordable Housing Program funds, and a Duke Endowment grant.
"Crosland has a long-standing tradition of developing affordable housing with the same care and quality that we apply to our for-profit apartment communities," said Dean Edwards, Crosland's vice president of affordable housing. "The overwhelmingly positive feedback that we've received from Junaluska's residents is the most important honor we could earn, but we're certainly proud of this national recognition as well."
Winners will be announced in April at the 2008 Pillars of the Industry Conference in Colorado.
Source: dBusinessNews.com