News

Renovation work will begin shortly on three (3) apartment towers located in upstate New York in the Town of Glens Falls. The $65MM project will consist of the rehabilitation of a total of 306 units in three separate multi-story structures. These units serve the local senior population with incomes at or below 50% of the area median. CMC has been retained by the construction lender and the tax credit equity investor to perform ASTM property condition assessments for each tower, an upfront project plan and cost review analysis, as well as ongoing site inspections and construction progress monitoring services

Work has commenced on the $16M Camillus Heights, a new senior housing project located outside Syracuse, NY. The new build 3-story project will be constructed on a vacant 8-acre site and will consist of 60 low-income senior apartments. CMC has been retained by the construction lender and the tax credit equity investor to perform an upfront plan and cost review analysis, as well as ongoing site inspections and construction progress monitoring services.

The $20M conversion of Public School 75 in Buffalo, NY is scheduled to start shortly. The re-use project will convert the former school into 60 income restricted residential units. CMC has been retained by the construction lender and the tax credit equity investor to perform a property condition review, upfront plan and cost analysis, as well as ongoing site inspections and construction progress monitoring services.

Construction will begin shortly on a vacant elementary school in Blasdell, NY which will be converted to income restricted senior housing. The $10M Oakwood Senior Apartments project will repurpose the 35,000 SF building into 34 senior housing units. CMC has been retained by the construction lender and the tax credit equity investor to perform a property condition review, upfront plan and cost analysis, as well as ongoing site inspections and construction progress monitoring services.

Phase III of the Fairview at Town Center Apartment project in Henrietta (Rochester), NY is underway. The $25M luxury apartment project is being built on a 20 acre site and will include 17 buildings and a total of 117 units. CMC was engaged by the construction lender for all 3 phases and services included upfront plan and document review, budget and cost analysis as well as monthly site inspections and progress monitoring services.

After sitting vacant for nearly 25 years, the 105 year old Manufacturers Hanover Bank Building in Olean, NY is set to undergo a $12M renovation. The 7-story structure will converted to mixed-use to include apartments and retail space. CMC has been retained by the construction lender and the tax credit equity investor to perform a property condition review, upfront plan and cost analysis, as well as ongoing site inspections and construction progress monitoring services.

Phase 1 construction is underway for the $220M Avon Village Center, a one-million SF multi-phase development in Avon CT. The 97-acre site is designed as a mixed-use planned development to live, work, shop and play. Avon Village Center will be built in 5-phases and include retail, office, recreation/entertainment and 450 apartment units. CMC was engaged by the construction lender to provide upfront plan and document review, budget and cost analysis as well as monthly site inspections and progress monitoring services.

Work has commenced on Skyview Ridge, a $45MM adaptive reuse project located in Irondequoit, NY. The former Irondequoit Mall will be redeveloped in phases. Phase I will consist of 157-units of restricted-income senior housing, a community center and adult day care facility. CMC has been retained by the construction lender and the tax credit equity investor to perform upfront plan and cost review analysis, as well as ongoing site inspections and construction progress monitoring services.

Work has commenced on a new $10MM DEA regional headquarters building in Nashville, TN. CMC was engaged by the construction lender to provide plan, cost and document review analysis as well as monthly site inspections and construction progress monitoring services. CMC has worked with the Federal government on several projects.

Work will soon commence on the $9MM construction of Cayuga Flats in Ithaca, New York. The 30-unit residential/mixed-use project will continued affordability for households with incomes ranging from 25% of AMI to 60% of AMI. In addition, two store front commercial spaces will be part of the neighborhood project. CMC is representing both the construction lender and equity fund investor providing upfront plan doc review, budget and cost analysis as well as monthly site inspection and construction progress monitoring services.

Work has started on the 201 Ellicott Street project located in downtown Buffalo, NY. The $60MM project will include a 7-story, 195,000 SF residential building containing 200 residential unit and an adjacent 18,000 SF Braymiller Market. The project brings much needed newer affordable housing to the downtown core of Buffalo, with all 200 units available at 50-80% AMI. CMC was engaged by both the construction lenders and equity fund investor to provide plan, doc and cost review analysis as well as monthly site inspection and construction progress monitoring services.

Work will soon begin on Phase I of the Quackenbush Square development in Albany, New York. The former brownfield site is slated to be a large mixed-use development consisting of 129 residential units, retail/service space and a Hyatt Hotel. The $30MM Phase I of the project will be the construction of a 132-room Hyatt Place Hotel. CMC was engaged to represent the construction lender to provide upfront plan, cost and doc review analysis, as well as monthly site inspection and construction monitoring services.

Work has started on the Saranac Lakeside Resort located in Saranac Lake, NY. The 4-story, $27MM boutique resort will offer 93 suites, 2 restaurants, spa, fitness facility, upscale lounge, ballroom for 200, indoor pool, outdoor hot tubs, and marina. CMC was engaged by a consortium of construction lenders to provide plan, doc and cost review analysis as well as monthly site inspection and construction progress monitoring services.

Groundbreaking is scheduled for One Alexander Park, an $18 million apartment building located at 250 Alexander Street in Rochester, New York. The project will be the first phase of a multi-phased development on the site of the former Genesee Hospital complex. The building will be a 4-story, 70,000 sf structure containing 48 apartment units. CMC was engaged to represent the construction lender to provide plan and doc review, cost analysis as well as site inspection and construction progress monitoring services.

Work will soon commence on the $10 million renovation of Thurston Road Apartments in Rochester, New York. The project includes the acquisition and substantial rehabilitation of four distressed apartment buildings This project will ensure their continued affordability for households with incomes ranging from 40% of AMI to 60% of AMI. In addition, 20 of the 63 units will be set aside for supportive housing of homeless individuals with a history of substance abuse in partnership with Spiritus Christi Prison Outreach. CMC is representing the construction lender and will provide an upfront plan doc review, budget and cost analysis as well as monthly site inspection and construction progress monitoring services.

Construction will begin shortly on the $37 million renovation and expansion of Apple Blossom Apartment complex in Cheektowaga, New York. The 110-unit multi-building complex will offer both senior and supportive housing options for the community. CMC was engaged by the construction lender to provide plan and doc review, budget/cost analysis as well as monthly inspection and construction progress monitoring services.