NEWS

SKYLINE TOWER IS RANKED AS ONE OF THE TOP THREE NYC BESTSELLING BUILDINGS OF 2022 BY MARKETPROOF, THE LEADING WEBSITE OF REAL ESTATE DATA Skyline Tower is ranked #3 best-selling building in NYC and it’s the best-selling building in Queens in 2022. With 78 deals in 2022 representing 10% of all units. Compared to the best-selling building in NYC, The Solaire which had 84 deals in the same year. Skyline Tower is very close to achieving the title of best-selling building. In 2022, due to increasing developments and buyers choosing Queens, 51% more contracts were signed compared with pre-pandemic average. However, compared with the number of contracts signed in 2021, the number of contracts signed in 2022 decreased by 18.6%. The median asking price in 2022 in Queens for signed contracts dropped by 6% to $817,500; however, the median asking price per sqft increased by 10% to $1,300 which is still much lower than the price in Skyline Tower. Skyline Tower is the tallest building in Queens Borough with 67 floors. Because of the extraordinary height of the tower, residents in this building can have 360-degree views of NYC. Besides the amazing views, Skyline Tower also has best-in-class amenities for its residents. From gym to swimming pool, from lounge to playroom, you name it, we have it. There are plenty of different floor plans for buyers to select in Skyline Tower. From studios to 4-bedroom condos, Skyline Tower has them all in the highest standard and ready for residents to move in. Original Article: Marketproof.com

SKYLINE TOWER IS RANKED AS ONE OF THE TOP THREE NYC BESTSELLING BUILDINGS OF 2022 BY MARKETPROOF, THE LEADING WEBSITE OF REAL ESTATE DATA Skyline Tower is ranked #3 best-selling building in NYC and it’s the best-selling building in Queens in 2022. With 78 deals in 2022 representing 10% of all units. Compared to the best-selling building in NYC, The Solaire which had 84 deals in the same year. Skyline Tower is very close to achieving the title of best-selling building. In 2022, due to increasing developments and buyers choosing Queens, 51% more contracts were signed compared with pre-pandemic average. However, compared with the number of contracts signed in 2021, the number of contracts signed in 2022 decreased by 18.6%. The median asking price in 2022 in Queens for signed contracts dropped by 6% to $817,500; however, the median asking price per sqft increased by 10% to $1,300 which is still much lower than the price in Skyline Tower. Skyline Tower is the tallest building in Queens Borough with 67 floors. Because of the extraordinary height of the tower, residents in this building can have 360-degree views of NYC. Besides the amazing views, Skyline Tower also has best-in-class amenities for its residents. From gym to swimming pool, from lounge to playroom, you name it, we have it. There are plenty of different floor plans for buyers to select in Skyline Tower. From studios to 4-bedroom condos, Skyline Tower has them all in the highest standard and ready for residents to move in. Original Article: Marketproof.com

Homebuilders were already heading to communities in the area before the huge chip plant was announced. A few years ago, when international developer Risland US Holdings announced plans for a 6,000-home residential community at the edge of Grayson County north of Dallas, there were plenty of skeptics. “Everybody told me the location was too green” and ahead of its time, said Michael Hanschen, senior managing director of Risland US Holdings. “All those folks are now calling me for an opportunity to do a deal.” Risland’s 3,000-acre Mantua project on U.S. Highway 75 between the towns of Anna and Van Alstyne has been a hit with homebuilders that have already gobbled up sites for more than 220 houses in the first phase. “We are in city review for phase two for 324 more homes,” Hanschen said. “I hope to start construction in the first quarter.” The just-announced plans for a $30 billion Texas Instruments semiconductor plant with thousands of jobs in nearby Sherman will bring even more people to the area, Hanschen said. “It’s going to be wonderful for the entire region,” he said, predicting that real estate developers will flock to Grayson County. “That’s going to be the trend going forward. “Not that Collin and the other surrounding counties aren’t great. But there just isn’t as much development opportunity left as there is in Grayson County.” The county has plenty of room to grow. In 2020, Grayson County had only around 135,500 residents — about half the population of Plano, the latest census records show. Major homebuilders were already migrating north toward Sherman before the TI plant announcement. Many of the new neighborhoods under construction in Van Alstyne, Howe and Melissa are closer to Oklahoma than to downtown Dallas. “The area without question garners a lot of interest from builders,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “With the TI plant happening, that’s more reason to look up there.” Wilson said the town of Melissa in north Collin County has added thousands of homes and is close to build-out. “Van Alstyne is in full bloom, and one of the major builders, K. Hovnanian, is going into Howe,” he said. “You see development going all the way up to the Sherman area. “It’s amazing how development has moved north.” Originally, builders migrated to Grayson County seeking sites to build more affordable houses. But prices in that area, as in the rest of North Texas, are rising steadily. “To look at half-million-dollar homes in Van Alstyne is stunning,” Wilson said. Property agents are already scouting more construction sites in Grayson County, he said. Top North Texas land broker Rex Glendenning has been selling big tracts of land in Grayson County and expects a surge in interest because of TI’s investment. “It’s the biggest real thing that has ever happened to Sherman,” Glendenning said. “This should be a huge windfall for Sherman, and the growth should bring more of the homebuilders up into that part of the world. “The communities just south of Sherman like Howe, Van Alstyne and Gunter will reap big dividends from the announcement.” Glendenning said the last time he saw such a buzz about the area was back in the 1980s, when rumors spread that General Motors would build its Saturn automotive assembly plant near Sherman. That plant wound up in Tennessee. “Everybody went up there and bought land speculating the auto plant would come in,” he said. “That’s really the last time Sherman experienced any white-hot hype. “This is not hype — this is reality.” Original Article: Steve Brown from The Dallas Morning News/dallasnews.com

Plans are in the works to relocate the historic buildings at McKinney’s Storybook Ranch to the Mantua Development currently under construction in western Anna and Van Alstyne. The old west town known as “Dry Bones” is a collection of 21 buildings curated from around the region. They include a jail, saloon, barbershop, post office, opry house, bank and more. According to Michael Hanschen, vice president of development for Risland US Holdings, the tentative plan is to move the buildings to the historic site of the former city of Mantua. The town was founded in 1854 but practically abandoned less than 20 years later. Most residents moved a couple of miles east after the Houston and Texas Central Railway laid tracks and built a stop in present-day downtown Van Alstyne. “If we are able to make the pieces come together, this would literally be the rebirth of a historic Texas town. But there is much work to be done and the nonprofit organization behind the efforts will need community support to make it happen,” Hanschen says. “It would persevere a piece of Texas history that cannot be replaced if lost, in addition to being a destination where families and students can learn about life in the old west.” Storybook Village once served as a popular event space as well as a location for films and photoshoots. However, it has now been three years since it was open to the public. The nonprofit that used to run it moved, and the land was sold. Plans now call for the site to be transformed into a new housing development. This put the historic buildings in jeopardy until Whitewright resident Kristi Avalos founded The Bethel Village Foundation to help save the buildings. She also started a Go Fund Me page to raise money in hopes of moving them to her ranch. Her efforts garnered the attention of multiple North Texas media outlets “They cannot bulldoze this down,” she said in an April interview with the Dallas Morning News. “We just have to do something.” Hanschen is a sixth-generation Texan with development in his blood. His Grandfather, Angus G. Wynne Jr., developed Wynnewood, one of America’s first Master Planned Communities during the post-WWII boom of the 1940s. He would later go on to found Six Flags Over Texas in 1961. “While I don’t claim to have the level of vision my grandfather did, his work is certainly an inspiration to me as I consider ways to make Mantua an outstanding project and a desirable place to live,” he said. As a native Texan with an affinity for local history, Hanschen worried that relocating the building to a sparsely populated area would mean fewer people getting to experience them. He proposed moving them instead to the Mantua development closer to US 75 where he believed it would attract more visitors. It’s one of several historic elements he intends to incorporate into the master planned community. Multiple streets will be named after local families who once owned or worked the land that is now being developed. The residential amenity center will also feature a history wall to educate visitors on the area’s founders and past. Signs of progress While much of the work currently being done in the 3,000-acre mixed-use development is not visible from the highway, signage was installed last month to direct visitors to the site. By summer’s end, people will likely begin moving into newly completed homes in the 223-lot first phase on Panther Parkway (formerly County Line Road). It includes houses built by Highland Homes, David Weekly Homes, Perry Homes, and Risland Homes. Hanschen says the area was designed to feature “above market amenities.” Among the amenities planned for Phase I are over a mile of trails, three irrigated community gardens, and a community center. The latter will include 2,300 square feet of covered areas, a large pool and a connected children’s pool with a splash castle. It is scheduled to be completed by the end of the year. Plans also call for a rock climbing area, children's playground, and an additional playground for older children to be built next door Bidding for the adjacent Phase II residential section is expected to begin in the next couple of months. As for commercial development, Risland officials are in discussions with the Weitzman Group to bring a commercial center anchored by a major grocery chain. It would be located near the intersection of Rosamond Parkway and US 75 in Anna. Several businesses have expressed interest in the 23-acre site, but nothing has been finalized yet. Developers are also still working with local officials to iron out the infrastructure details required to make those plans a reality. Original plans for that area called for a three-level office building as well. That is now on the back burner as developers evaluate changing workspace demands in the post-COVID-19 economy. Long-term plans call for, among other things, a lake district with local shops. However, it will likely be several more years before work begins. Projects of that scale require a large customer base. Therefore, the primary focus now is building homes and bringing in more residents so that those types of businesses can succeed in the future. “We’ve taken inspiration from a lot of different master-planned communities,” Hanschen says. “We also want to do it differently so we can make it something special and unique.” Original Article: Joshua Baethge For the Anna-Melissa Tribune

Mantua Point officially broke ground earlier this month on its development wiht a ceremony that was combined with a ribbon cutting. The site is being called Phase 1-Mantua Point and is on the north side of the property, which parallels U.S. Highway 75. This portion is inside Grayson County, but the entire Mantua project sits in both Van Alstyne in Grayson County and Anna in Collin County. Michael Henschen, senior managing director of the owner and developer, Risland US Holdings LLC, said they plan to begin building model homes in the summer of 2020, with new home sales expected to start shortly afterward. This first phase, Henschen said, will have 222 single-family residential homes on varying lot sizes. The overall plans, Henschen said, are for 25 miles of off-road hiking and biking trails interweaving the entire development, an amenity center for all, a community-centric facility, children’s pool and hangout area, with a live, work and play environment throughout. This could include music festivals, an expansion of the current lake, and seasonal events such as entertainment in the parks. Henschen said a dog park “for the all the Mantua pups” would also be included. Representatives from Van Alstyne’s Chamber of Commerce, Community Development Corporation, city officials and business owners took part in the groundbreaking and were treated to gourmet food and beverages. Original Article: Van Alstyne Leader

Risland Homes announced today it has broken ground on two model homes within its 300-acre single family community located on Prosper Trail, just west of the Dallas North Tollway and 2 miles north of Hwy 380. As developer and builder for Legacy Gardens, Risland will deliver 134 homes in Phase I with prices starting in the high $400s. Home buyers can select from 80 foot and larger home sites. Floorplans range from 2,800 square feet to well over 5,000 square feet. “Legacy Gardens’ location in North Texas’ most desirable school district, easy access and close proximity to employment centers, and our commitment to quality development appeal to home buyers,” said Patrick Vedra, managing director of homebuilding for Risland Homes. “This upscale development will showcase a larger than life style in a small, exclusive setting. We’ve made the focus a healthy, peaceful lifestyle and really think our residents will enjoy coming home to rejuvenate and refresh.” The development features more amenities than other communities of its size. The Legacy Gardens Neighborhood Center will feature stunning modern architecture on 4 acres at the heart of the community. It is already under construction and will include an infinity-edged resort pool, a fitness studio, yoga lawn, coffee station, co-working space, conference room, children's indoor and outdoor play areas, a community lake and lushly landscaped open space. Trails will run throughout the neighborhood and planned community events will keep friends and neighbors connected. Students living in Legacy Gardens will attend the highly rated schools in Prosper ISD. “As our first residential development in DFW, we aim to raise the bar on the home buying and lifestyle experience,” said Michael Hanschen, senior managing director, Risland US Holdings LLC Dallas Division. “We offer high design standards, extreme quality, a high level of personal service, attention to detail and a distinct community culture.” Legacy Gardens is expected to attract relocating executive families, move-up buyers and discerning empty nesters. Homeowners will enjoy living close to world class amenities in Collin County and the DFW Metroplex. Risland offers home buyers personalized floorplan and design options. Home sites are larger and competitively priced compared to similar sized homes on smaller lots. Homesite reservations begin mid-May. The Risland models are set to open mid-July 2019. The Amenity Center will open Fall 2019 and on time for new residents to enjoy. Risland Homes, a subsidiary of Risland US Holdings, is a builder and developer with both local and global strengths and sensibilities offering a level of personal service not typically found in a single-family residential community. Risland is committed to creating an exceptional family lifestyle, serving homeowners, connecting neighbors and fostering lifelong friendships. For more information about Risland Homes and Risland US, please visit www.rislandhomes.comand www.rislandus.comor call 214.214.8888.

NEW YORK CITY—The development team led by Chris Xu’s United Construction & Development has closed on a $502-million construction loan from JP Morgan and a syndicate of other lenders for its proposed 67-story mixed-use building in Long Island City. ​The financing was provided by JP Morgan and a syndicate of domestic and international banks and was brokered by Meridian Capital Group of New York City. Morris Betesh, a financing broker at Meridian Capital Group, negotiated the construction loan for the project that will feature 802 luxury condominiums and ground floor retail space. The borrower was represented by attorney Herrick Feinstein, LLP. A spokesperson for Meridian Capital says the financing deal represents the largest loan ever for a private project in the borough of Queens. Prior to construction, the development team had secured an initial $100-million land loan from the Bank of China. Xu acquired the site in July 2015 for $143 million, according to the Real Deal. The project, when completed, will be the tallest residential building outside of Manhattan. The development group began foundation work on the tower late last year. The Court Square City View Tower project at 23-14 44th Drive is being developed by Xu’s United Construction & Development and partners Henry Yeung, Brian Pun of FSA Capital and Risland U.S. Holdings, LLC. Long Island City brokerage firm Modern Spaces is exclusively handling marketing and sales for the project. The building was designed by New York City-based architecture firm Hill West Architects, with interiors by its design arm, Whitehall Interiors. Original Article: John Jordan, a veteran journalist with 36 years of print and digital media experience. Read Original Article