News: Spotlights

Morgan Woods developed by Community Builders wins ULI award

At their 2008 Fall Meeting, Urban Land Institute (ULI) honored Morgan Woods, developed by The Community Builders Inc. (TCB and designed by Winslow Architects, Inc. of Arlington, the J. Ronald Terwilliger Workforce Housing Model of Excellence Award. This award is given in recognition of exemplary developments that meet workforce housing needs in high cost communities. Award winning Morgan Woods is located on Martha's Vineyard and was inspired by the need to house the many locals who often times had to move off island to accommodate the Vineyard's influx of summer residents. Here the "Island Shuffle" occurs whereby many of the locals pack their belongings and leave their homes on the island because they simply can't afford the price of rental property during the summer tourist season. Many live out of their cars or move to the mainland. The victims of this "shuffle" include teachers, firefighters and municipal employees. As a means of putting an end to this migration, the Town of Edgartown donated 12 acres of land and selected TCB and its architect - Winslow Architects, Inc. - to oversee the design and development of what is now known as Morgan Woods, a 60-unit affordable housing complex located next to a nature conservancy. Winslor Architects responded to the requirements of the town by designing buildings that "disguised" multifamily housing within building types that reflected typical New England architecture including main houses, sheds and barns. As a result, Morgan Woods offers 60 units of housing arranged within 21 buildings giving the appearance of single-family homes complete with wooden shingles, weather clapboards, front porches and individual entries. Not only did Winslow Architects have to design the development within affordable means but they also had to take into account that getting workers and materials onto the island can easily increase costs by 25%. To make this project financially feasible, Winslow Architects designed Morgan Woods utilizing modular construction and worked with Williams Building Company of West Yarmouth and Keiser Industries of Oxford, Me. to construct the modular development. Morgan Woods has won several awards and is now viewed as a significant model of how to meet workforce housing needs in high cost communities.
MORE FROM Spotlights
Spotlights

The New England Real Estate Journal presents the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Here are a few of my favorite topics of conversation: politics, religion, money, and relationships. Other than a below average level of social capability, why do you suppose that those are some of my favorite conversation pieces? Well, I believe that there is a fascinating truth hidden within these realms
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Two popular sources of commercial real estate financing are banks and insurance companies. According to the Mortgage Bankers Association, banks and insurance companies combined hold 54% of the nearly $4.7 trillion in outstanding commercial mortgages as of the end of 2023. Both of these lender groups are subject to regulations