Development.  Investment.  Management.

PRINCIPAL PROPERTIES is the developer and asset manager for REMY HEIGHTS APARTMENTS, a new 107-unit, class A multi-family project that is currently in development. The project is located on a 5-acre site that will be adjacent to the existing ALDER POINTE APARTMENT complex, a 180-unit project, and the EATON PARK APARTMENTS, a 95-unit multi-family community currently under construction.  Both ALDER POINTE and EATON PARK were developed and are managed by PRINCIPAL PROPERTIES. The REMY HEIGHTS site had significant obstacles that needed to be overcome in order to develop the site for apartments. PRINCIPAL PROPERTIES acquired the property after an extensive due-diligence process and completed a rezone of the site to allow for a modern, higher density project.  The site was challenged with numerous encumbrances and restrictions including extensive wetlands, easements and the lack of public infrastructure, all of which significantly reduced the buildable land area.  PRINCIPAL PROPERTIES worked with their development team and various public and private entities to solve these challenges.  All of the wetlands will be preserved, enhanced and incorporated into the project providing residents with generous amounts of natural space. REMY HEIGHTS will provide much needed housing in a modern, class A environment featuring large open areas, recreational amenities and pedestrian friendly access to shopping, medical, restaurants, commercial services and public transportation.    

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 PRINCIPAL PROPERTIES is responsible for the following: 

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• Due diligence and feasibility analysis

• Site planning, project design and floor plans

• Property acquisition

• Securing all entitlements including rezoning the property

• Integration of the site into the Scotton Landing, Eaton Park, and Alder Pointe projects

• Financial analysis and capital budgeting

• Securing all equity and debt funding

• Assembling the development team: architects, engineers, contractors, and consultants

• Obtaining all permits and approvals

• Utility and infrastructure design and construction

• Construction management

• Marketing and branding

• Asset management