PHILLIPS DEVELOPMENT & REALTY ANNOUNCES SALE OF TWO APARTMENT COMMUNITIES IN CHARLOTTE, NC

Charlotte, NC—Phillips Development and Realty (PDR), based in Tampa, FL announces the recent sale of two adjacent, Class A apartment communities in the northern Charlotte, NC submarket of University City. The two assets, Phillips Mallard Creek and the Villas at Mallard Creek, sold for $125,750,000. This transaction is the second largest multi-family sale (in dollar amount) in the Charlotte MSA during 2021. Together, the two communities consist of 503 total units and is located on 30.22 acres of land. At the time of closing, Phillips Mallard Creek and the Villas at Mallard Creek were 94% occupied.

The properties were purchased by American Landmark, a multi-family housing company based in Jupiter, FL.

The two communities are located on West Mallard Creek Church Road, minutes from the University of North Carolina at Charlotte campus. The first phase of this project, Phillips Mallard Creek, was completed in 2013 and is comprised of 324 units with clubhouse and pool. The second phase, the Villas at Mallard Creek, was built in 2019 with 179 units, clubhouse, pool, and features energy-efficient apartment homes—some with gas tankless hot water heaters, stoves, and Icynene insulation. PDR continually pushes the envelope of integrating new technologies in multi-family developments.

Kevin Johnston, Chief Operating Officer for PDR states, “We acquired the land for the development in 2006 when the US economy was just entering the financial market collapse of 2007-2008. The perfect storm of events surrounding the value collapse of mortgage-backed securities delayed our construction start until 2011 because there were no loans available to support a development of this magnitude—two of our lenders actually went bankrupt during the time. However, under the leadership of Don Phillips, the PDR team worked their way through what we refer to as the Flight of Apollo 13 and FHA lending to safely land back on earth. We considered these projects extremely challenging and rewarding as many obstacles were overcome by our development team. Our property management team, Ovation Realty Management, led by Noelle Brockway and Vanessa Woods, continually outperformed expectations, creating a community and connecting people in an awesome way.”

The apartment communities are located on a wooded oasis overlooking Mallard Creek. All 503 units feature 42” cabinetry, granite countertops, stainless steel ENERGY STAR appliances, and washers/dryers in each unit. Apartments at the Villas at Mallard Creek also include high efficiency ductless HVAC. Both properties have received a National Green Building Standard certification.

“These two communities have always been strong competitors in the north Charlotte market. Regardless of the constant changes in and around the UNC-Charlotte area, we strived for high occupancy while pushing rental rates to meet the demands of the market,” commented Noelle Brockway, PDR’s VP of Multi-Family.

PDR continues to seek development opportunities in the Charlotte and Raleigh-Durham markets as well as other regions of North Carolina and Florida.

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, car wash, and storage industry. Their goal is to build progressive projects throughout the United States. PDR is currently facilitating twenty-five projects in two different states. For more information, visit www.phillipsdevelopment.com.

Phillips Development & Realty and Capstone Building Corp. Announces Completion of $65 Million Luxury Multi-Family Community in St Petersburg, Florida

Birmingham, Ala. – Phillips Development & Realty, LLC and Capstone Building Corp., a premier general contractor based in Birmingham, Alabama, announces the completion of the Sur Club Apartment Community in St. Petersburg, Florida. The project located on four acres is comprised of 484,855 square feet with 296 units and 5 story parking deck. The project is positioned as a resort-style living community incorporating atomic architecture design elements and artistic design features along I-275.

“The PDR and Capstone Building team has over a decade of experience working together. This proven relationship assisted tremendously in the face of the COVID-19 pandemic which the team worked through with minimal disruption—delivering ahead of schedule,” states Kevin Johnston, Chief Operating Officer of Phillips Development & Realty, LLC. “We also worked closely with the City of St Pete staff with the visionary planning of Don Phillips starting in 2017 to deliver the first multi-family development in 2021 to jump start they City’s vision for the Skyway Marina District”.

“We very much appreciate Phillips Development selecting Capstone Building Corp as their general contractor. We are proud to have played a role in this impressive project,” states Jay Chapman, owner and CEO of Capstone Building Corp. “Along with Phillips Development, we are pleased to announce the completion of this outstanding development.”

In addition to the units’ outstanding amenities, the property also features:

• 2 Resort-Style Pools
• Poolside Cabanas
• Relaxation Hammocks
• 2 Outdoor Kitchens
• Outdoor Entertaining Areas
• Resident Lounge/Coffee Bar
• Super Large Bark Park
• Amazon HUB Package System
• Pickleball Court and Cornhole
• Covered Bike Parking
• Pet Friendly Environment
• 24-hour Fitness Center

The Sur Club is located in the Skyway Marina District at 3301 32nd Ave S. Saint Petersburg FL, 33712, and is a few miles away from the Florida Gulf Beaches, downtown St. Petersburg, and all other attractions in Tampa, Florida.

For more information on Capstone Building Corp. please contact Krista Conlin at 205.937.377 or krista@kcprojects.net. For more information on Phillips Development & Realty, LLC please contact Kevin Johnston at 813-868-3100 or KJohnston@pdrllc.com.

ABOUT PHILLIPS DEVELOPMENT & REALTY, LLC.

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. For more information, visit www.phillipsdevelopment.com.

ABOUT CAPSTONE BUILDING CORP.

Capstone Building Corp, headquartered in Birmingham, Alabama, is a trailblazing veteran leader in the multi-family housing development industry. Since 1997, Capstone Building Corp. has completed a diverse portfolio of 115 projects in 22 states – seeing them through design development, pre-construction, construction, and post-construction. The company’s projects, to date, are valued at more than $1.8 billion. Built on unconditional standards of performance, service, and integrity, Capstone Building Corp.’s focus on their clients’ needs and a culture of exceeding expectations has produced an overwhelming success rate for return business regarding their extensive line of projects ranging in high-end, state-of-the-art designs to mixed-use revitalization developments and RAD rehabilitation jobs.

For more information on Capstone Building Corp., visit www.capstonebuilding.com.

Tampa, FL — Phillips Development & Realty (PDR) would like to announce that Noelle Brockway has been promoted from Regional Manager of Ovation Realty Management to Vice President of Multi-family Operations.

Noelle has worked with PDR and Ovation Realty Management as the Regional Manager for the Charlotte and Raleigh, NC and the Tampa, FL market.  Her experience with PDR includes managing a variety of class A+ multi-family projects from lease-ups to stabilized properties.  She also assisted with the management of five self-storage projects, each averaging 100,000 sq. ft. within North Carolina and Florida.

Noelle previously led leasing and maintenance teams to optimize the performance and financial positions through her diligent attention to detail and pushing revenue, while at the same time cutting operating expenses without sacrificing resident satisfaction or quality. She has seasoned human relation skills and excels in hiring, coaching, and mentoring.

The recent promotion to Vice President of Multi-family Operations is a direct reflection of Noelle’s dedication to PDR, Ovation Realty Management, and the families she serves.

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. For more information, visit www.phillipsdevelopment.com.

TAMPA, FL – Phillips Development & Realty (PDR) has recently completed a mural on the side of CubeSmart in St. Peterburg’s Skyway Marina District. This colorful addition is just one piece of the transformation happening at this site.

Artist Matt Kress spent 10 weeks creating the vibrant gulf-inspired mural which will undoubtedly become a local landmark. The four-story artwork can be seen from I-275 South.

New construction at this same site includes a self-storage facility (already open) and Sur Club Apartments.

Click here to read a full article from Tampa Bay Times.

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.

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 4^th 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.

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.

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.

Shine Time Management, LLC Announces Closing on Memphis, TN Property to Build Woodie’s Wash Shack

• Shine Time Management, LLC 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 Shine Time Management, LLC 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.

Woodie’s Wash Shack 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. Shine Time Management, LLC 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.

The company 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.

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

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.