Development.  Investment.  Management.

PRINCIPAL PROPERTIES is the developer and asset manager for Eaton Park, a new 95-unit first-class 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 developed and managed by PRINCIPAL PROPERTIES. In addition, Eaton Park will be adjacent to the new 101-unit Remy Heights apartment project, which will also be developed and managed by PRINCIPAL PROPERTIES. Similar to the Remy Heights project, the Eaton Park site had significant development hurdles that needed to be resolved in order to develop the site for apartments: zoning, wetlands, topography, easements and the lack of public infrastructure. In conjunction with the Remy Heights site, PRINCIPAL PROPERTIES acquired the Eaton Park property after an extensive due-diligence process and completed a rezone of the site to allow for significantly more apartment units. Like other projects that PRINCIPAL PROPERTIES has developed, this site had numerous encumbrances and restrictions that significantly reduced the buildable land area. PRINCIPAL PROPERTIES worked creatively with their development team to solve these challenges and in tandem with the Remy Heights project, will construct a new public roadway and a public sewer pump station.  Both the roadway and sewer pump station will have major benefits for the broader community by facilitating new development for a large area of the city beyond Eaton Park. The site was carefully designed to preserve all of the wetlands, which are being incorporated into the project as natural open areas.  Eaton Park will provide spacious, modern apartment homes with generous parking and modern amenities in a natural environment.  The project will be conveniently located within walking distance 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 and Alder Pointe projects

• Financial analysis and capital budgeting

• Securing all equity and debt funding

• Assembling the development team: architects, engineers and consultants

• Obtaining all permits and approvals

• Utility and infrastructure design and construction

• Construction management

• Marketing and branding

• Asset management