Durham, North Carolina

Lakeview Park is a dynamic 18.5-acre mixed-use redevelopment of the former site of the Methodist Retirement Center in Durham, North Carolina.

Assignment: Redevelop the under-utilized property of the former Methodist Retirement Home on Erwin Road in Durham, North Carolina, across the street from Duke University and its massive medical center and research campus.

Objective: AACRE Properties negotiated the purchase of 18.5 acres on Erwin Road near Duke Medical Center in 2000. The first phase of this high-density, mixed-use development is 351 loft-style apartments that cater to graduate students and faculty of Duke University. As project developer AACRE Properties handled all of the entitlements, including rezoning for the high density mixed use. Site plan approvals were based on phased construction and master planning. The second phase, a 150,000 square foot retail, office, and residential building is scheduled to be completed in early 2008.

Opportunities/Challenges: Most of the buildings on the site were obsolete and all of the improvements except the duplexeswere demolished in phases to make way for the new project. The property was improperly zoned and required over a year of planning and lobbying to obtain entitlements.

Results: Lakeview Park is one of the densest mixed-use projects in the region. Our new retailers include: T.G.I. Friday's, Chiptole, UPS Store, Dunkin Donuts, Noodles & Co., Firehouse Subs and more coming soon! The project is vibrant now that the condominium owners have started to move in to the Lakeview community. Currently approximately half of the office space is reserved and we welcome new businesses to Pavilion East.
Pavilion East at Lakeview Photographs

Burlington, NC

Assignment: The Burlington Manufacturer's Outlet Center, an approximately 300,000 square foot well-known Retail Outlet Center, was once a vibrant retail destination in North Carolina. Over the last ten years it had declined in appearance, property maintenance and retail tenancy.

Objective: Revitalize the center physically and re-tenant the property.

Opportunities/Challenges: Create a new positive brand and preserve the BMOC outlet history. A new name, new logo, new billboard campaigns and new marketing strategy are bringing new shoppers and new businesses to the center.

Atlanta, Georgia

A 330 bed $21M Student Apartment Community nearly adjacent to Georgia Tech in Atlanta and one block from the Georgia Tech Technology One Centergy Campus. The project involves getting a 180,000 square foot office building and reconstructing the interiors.

Assignment: Acquire, finance, redevelop construction manage, market, lease up and manage a high profile institutional quality multifamily asset in Midtown Atlanta.

Objective: To complete a 330 bed $21M Student Apartment Community nearly adjacent to Georgia Tech in Atlanta and one block from the Georgia Tech Technology One Centergy Campus. The project involves acquiring a 180,000 square foot office building and reconstructing the interiors.

Opportunities/Challenges: Every hotel and office developer in Atlanta had looked at the site and passed on it as too messy and costly. We saw a unique adaptive reuse of the site that was exactly what the property needed to become.

Results: Construction is complete and brisk leasing activity has resulted in high occupancy levels.
100 Midtown Construction Photos

Niagara Falls, New York

Assignment: To redevelop the deteriorating Summit Park Mall in Niagara Falls, NY, (820,000 sf) into a vital center of community life once again. Complete "re-imagineering" was required.

Objective: To create a "hybrid" center with traditional retail, micro-retailing, tourist attractions, offices, restaurants, family entertainment, community events, non-profits and educational facilities that would attract tourists from all corners of the World, utilizing high impact exterior and interior improvements within the redevelopment to achieve cost efficient visual impact and effect.

Opportunities/Challenges: Transforming a declining property into a beacon of hope and a source of new jobs and tax revenues for an area suffering from severe economic challenges, where no lenders want to finance construction.

Results: The first steps of the redevelopmentattracted significant attention and created community buzz and excitement. The redevelopment generated impressive new tenant interest resulting in many new leases including a Steve and Barry's store among others.