Development

Development Department

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"An opportunistic land acquisition and development business specializing in condominium and luxury multi-family developments."

TEI has been involved in 15 ground-up development projects including condominiums and townhouses in the United States and Canada.

The Development department is responsible for identifying, analyzing, and overseeing projects throughout the United States and Canada. In particular, at any one time, it focuses on a limited number of long term, high quality opportunistic deals about which it maintains extremely high conviction.

Through the department, we maintain a dedicated focus on the development business during both strong and weak market conditions. This includes all aspects of the business from analyzing land acquisition opportunities, to managing projects under construction, to evaluating construction costs, design trends and supply/demand dynamics in major markets around the US.

Real estate development is an extremely cyclical, high-risk, high-barrier-to-entry business. To be successful, it is often important to acquire land/opportunities when markets are down and then have the staying power and vision to hold until development conditions are optimized in any particular market.

Our development department has and continues to employ this perspective and capitalize on its proven track record with large, complex projects. It has particularly strong experience in executing zoning changes that allow property to maximize their potential, as well as generally with design, permitting, construction, financing and sales/marketing.

By the numbers

$1.5B+

Total development volume over last 5 years (completed + in progress)

1,150

Total residential units over last 5 years (completed + in progress)

7

# of active markets (developments under construction + land/sites)

Contact this department

Contact this department

"An opportunistic land acquisition and development business specializing in condominium and luxury multi-family developments."

Contact this department

Contact this department

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Here are some of our recent developments:

1000 M Wide Exterior

1000M Chicago

1000M South Michigan is a ground-up, 74-story condominium skyscraper designed by internationally-renowned architect, Helmut Jahn, with interiors by acclaimed designer, Kara Mann. Situated on Michigan Ave. in Chicago’s South Loop downtown neighborhood, 1000M promises an uncompromising commitment to the art of living with an irreplaceable location where city and nature meet, breathtaking and “forever” unobstructed views, and superb contemporary design… inside and out.

The project will consist of 323 units and will stand at 830' tall, complete with 40,000 SF of amenity space. The building fronts directly on to Grant Park and will have unobstructed views of Lake Michigan.

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CasaMara Luxury Apartments

CasaMara is a mixed-use, resort-style development in West Palm Beach, Florida. Located on 3111 South Dixie Highway, just south of Belvedere Road and in the heart of the El Cid neighborhood and the Antique Row district, this new development will serve as the newest and chicest living and shopping destination for the area.

CasaMara will offer 300 class-A apartments as well as a 16,000-square-foot clubhouse and an additional 16,000 square feet of retail shops along Dixie Highway (called The Plaza at CasaMara). The project features a total of seven low-rise buildings that are spread out in a resort-like setting over 10 acres.

Indoor and outdoor amenities will include a resort pool with cabanas; a pool pavilion building with grilling stations and a 60-foot water wall; a Jacuzzi with therapeutic jets; a co-working lounge with private offices; a state-of-the-art fitness center; bark park; game room with billiards and Wii Stations; club room with art lounge and fire place; dining facilities for private parties and a full suite of children’s amenities including a kids pool, air conditioned playroom and outdoor playground.

50 West

50 West Street

50 West is a 64 story, 780-foot tall, 185-unit luxury condominium tower, with 30,000 SF of amenities (including a 64th floor observation deck, one floor of private offices available for purchase, entertainment floor including a screening room, restaurant and café, and a public plaza and footbridge).

Located in the heart of Manhattan's Financial District with unobstructed views of the Hudson River, the New York Harbor and World Trade Center, 50 West is now a defining building in the New York City skyline.

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The Residences at Prince

The Residences at Prince are an innovative conversion undertaking located in New York City's NoLita neighborhood. The unutilized landmarked Old St. Patrick's School & Convent at 34 Prince Street, built in 1825 at the corners of Prince and Mott Streets, have been transformed into seven condos and two townhouses. Maintaining the integrity of the original edifice and restoring it to its former beauty, the condos are an architectural masterpiece by Marvel Architects. The townhouse at 38 Prince is a five story residence with an elevator. The parlor floor has a formal living room, dining room, curved staircase, and a wet bar.

601 Bond Exterior

601 Bond

Grand Rapids is a Midwestern growth story with a diverse economy. After purchasing the adjacent apartment building, Icon on Bond, in 2013, we became aware of availability of the land at 601 Bond Ave. With a lack of premium downtown apartment product and Grand Rapids' bright future, we felt we could bring our design and development expertise to create a project that the market would respond well to. 601 Bond is now regarded as the best apartment building in the city and a catalyst for the continued development in the North Monroe neighborhood.

Montgomery Greene

Montgomery Greene

Montgomery Greene is a mixed-use building located in the burgeoning downtown Jersey City, New Jersey. It includes 4,500 SF of retail space, 113 rental units and 125 parking garage spaces. Purchased at the onset of the NYC Expansion from Manhattan to the surrounding cities, this purchase represented an opportunistic development project based on TEI’s guess that Jersey City would flourish in the coming years.

550 Wellington

550 Wellington

550 Wellington West condos and The Thompson Hotel Toronto was a development partnership with co-developer Freed Developments. The property is located in the heart of Toronto, Canada, and includes 405 underground parking spaces, 336 condo units, and 102 hotel rooms. TEI retains ownership of 4,861 SF of retail space and 176 garage spaces.

Department Leadership

Our dedicated team brings a wide range of knowledge and experience.

Robert Singer

Robert Singer

Director of Development