Lofts at Red Mountain – Strawberry Days Festival

The Glenwood Springs, CO Strawberry Days Festival was a huge success. The event was picture perfect with sunny skies and a park packed with attendees. The Lofts at Red Mountain booth was a hot spot for guests to grab some shade and water. Over a thousand bottles were given out on Friday alone!

Thank you to all who came out and saw us at the festival. If you didn’t get a chance to stop by, you can reach us at, or keep up with the latest on our Facebook and Twitter.




Clarksville – Wall Street Journal


Wall Street Journal | Patrick Thomas | May 19, 2018

As Silicon Valley gets saturated, three under-the- radar towns jockey to be the next tech hotspots.

THE RECENT HIGH-PUBLICITY effort by Amazon to place its second headquarters anywhere but the Bay Area underscores a bigger trend: Major corporations, especially techy ones, are moving away from the coasts and planting flags in smaller but fast- growing U.S. metro areas in order to cash in on lower operating expenses and cost of living, not to mention less traffic.

“You’re getting this relatively sophisticated workforce that’s being encouraged to move,” says Sean Worker, CEO of BridgeStreet Global Hospitality, a company that assists with business travel. “In turn, the towns start to get the financing and infrastructure.” With more than 160,000 accommodations in 81 countries, BridgeStreet studies where development dollars are headed, including these surprising boom towns.

Worker believes the skillset of the people, access to clean energy and strong partnership opportunities are what led to a major investment in the city of 150,000 people on the Kentucky border. “Google broke ground in February on a $600 million data center on 1,300 acres,” he says. “And LG is spending $250 million to build an 829,000-square-foot home appliance factory slated to employ 600 workers.” There’s plenty to do, from strolling the riverfront and hiking the Clarksville Greenway to wandering the Customs House Museum & Cultural Center (above)—but Worker’s pick is D&D Black Light Mini Golf for a round of golf.

25N Coworking – Community Impact Newspaper

25N Coworking to offer a new type of working space in Frisco

Community Impact Newspaper | May 4, 2018

25N Coworking will open in August at 9355 John W. Elliott Drive, Frisco. The co-working space will include meeting and event spaces, private offices, an onsite community manager and concierge services, office equipment, a break room, a fitness studio and outdoor workspace.

One Uptown – Blueprint Magazine

Luxury to match Dallas’ most walkable neighborhood

Blueprint Magazine | E.C. Gregg | December 12, 2017

Uptown has often been classified as Dallas, Texas’ most walkable neighborhood. Boutiques, bistros, biking, vintage shopping—all are accessible in an afternoon’s stroll.

It’s an eclectic community that Stoneleigh Companies had its eyes on, so much so that in 2013, the Barrington, Illinois-based developer with Texas connections, made Uptown the location of what it’s calling its most luxurious project.


Known as One Uptown, the 20-story high-rise includes 196 apartments—studios to luxury penthouse suites. Designed by Phillip Shepherd, the founder of PWS Architects Inc., a well-known architecture firm in the area, the tower is distinguished by a flowing facade that gives the impression of a glass wave rippling through the air.

The first floor includes Fogo De Chão, the iconic Brazilian steakhouse, and Circo, a Tuscan-inspired spinoff of Le Cirque, the renowned French restaurant.

“Uptown is one of those neighborhoods that is representative of other major metropolitan areas that Dallas is catching up to,” says Vice President of Development Ryan Swingruber. “With this project, we are trying to address the needs of the city’s changing demographics.”

Thus far, it seems Dallas is responding well to its new addition, he says. While One Uptown was officially completed in June 2017, eager millennials and baby boomers—the target demographics—were moving in back in February, setting the ceiling for the highest rents in the Dallas Fort-Worth area.

To each their own market
One Uptown is not Stoneleigh Companies’ first development in the Lone Star State.

Before moving to Chicago in 1991, CEO and Founder Richard F. Cavenaugh spent his early career developing residential properties in Dallas and Houston.

During that time, Cavenaugh built relationships with local real estate companies and architects. When he started Stoneleigh Companies in 2008, at the start of the Great Recession, Cavenaugh was able to use those connections to acquire distressed multi-family properties back in Texas.


For the first four years, Stoneleigh Companies focused primarily on acquiring existing multi-family real estate, but “as the economy recovered in 2012 and values came back stronger than ever, the company decided it was time to adjust and began developing its own properties, as well,” Swingruber says.

Since then, Stoneleigh Companies has developed multi-family apartment high-rises and garden-style communities across Texas, Illinois, Colorado and Tennessee.

“We have a set of standards that we take with us no matter where the job is,” Swingruber says. This begins with using superior building materials and methods, but Swingruber says it is diving into the details where the company truly shines.

Stoneleigh Companies pays special attention to the floor plan of each apartment, searching for ways to maximize space and providing unique finishing touches with the addition of USB ports, Bluetooth speakers, LED light fixtures and compartmentalized closets.

“The amenity package is also a premium in our buildings because we offer more livable square footage than most of our competitors,” Swingruber says.

Stoneleigh Companies also sees amenities as an opportunity to add a little local flair.

“When we enter a new community, we go in and try to understand not only what is driving the housing market, but what people want out of their ideal living situation,” Swingruber says.

In the case of a fitness center, for instance, this means discerning whether people need a traditional gym with machine weights and dumbbells or a yoga studio with crossfit equipment. Swingruber says similar considerations are made for flooring, colors, countertops, cabinets and “everything in between.”

Luxury at every age
In the case of One Uptown, Stoneleigh Companies wanted to offer people of every age the perfect luxury home.

“Everyone knows that the number one renting demographic are millennials, but what surprises people is that right behind that is baby boomers and empty nesters,” Swingruber says.

Stoneleigh Companies also understood that the needs of 20-somethings just entering the workforce would be extremely different from retirees looking to downsize. To accommodate both sides of the spectrum, the company included a range of apartment styles, from efficient one-room studios to luxury penthouse suites.

Complicating matters, zoning requirements limited Stoneleigh Companies to 200 units instead of the more standard 300. “So we had to ask ourselves, how do we make this project not only feasible, but desirable?” Swingruber says.

In addition to accommodating multiple lifestyles, Stoneleigh Companies decided One Uptown would also have amenities usually found at a luxury hotel.


The development is the only Class A high-rise in Dallas with two pools. One is located on the rooftop and offers a 360-degree view of the surrounding city. The other is located on the second floor and was designed with a glass bottom that looks down into the porte-cochère. Here, residents enjoy a full-service bar, DJ booth, cabanas and food from Circo, the restaurant on the first floor, and charge it to their room.

“It’s turned into a very exciting project because we’ve addressed the needs of two extremely different demographics in the same project,” Swingruber says.

One Uptown – Multi-Housing News

2017 MHN Excellence Award Winners

Multi-Housing News | IvyLee Rosario | November 7, 2017

The 2017 MHN Excellence Award Winners represent the multifamily sector’s most innovative and ingenious achievements. Whether transforming an obsolete property into a 21st-century community, creating a cutting-edge design, or turning around an underperforming asset, the designers, developers, executives and real estate managers recognized here set a high bar. Also recognized are outstanding executives, top property managers and future stars.

Winners of this year’s Gold and Silver awards were honored at an event Oct. 19 in New York City. Stay tuned for details about the 2018 Excellence Awards.

Silver: One Uptown
This 20-story mixed-use Dallas development features 198 energy-efficient apartments; 18,500 square feet dedicated to retail and two restaurants; and a 475-space underground parking garage. Judges thought the inclusion of two restaurants was impressive and also noted the building’s eye-catching sinuous forms. One Uptown faced the challenge of an oddly shaped footprint, but Humphreys & Partners Architects offset the hard angles of the tract by designing a curvilinear exterior. Glass, concrete and metal were used throughout the entire project, giving it a sense of motion.

25N Coworking – Crain’s

The latest thing in the suburbs? Co-working offices.

Crain’s | October 27, 2017

As a freelance writer and marketing consultant, Patti Minglin’s morning routine had more than a sense of urgency. After sending the last of her three children off to school, she had to get to the local Starbucks in Naperville in time to land a chair near an outlet that would allow her to plug in her laptop and work through the morning, fueled by coffee. There were plenty of other solo workers seeking to escape from home offices lined up for seats each day.

These days Minglin no longer dashes to Starbucks from her home in Aurora. She has joined a startup co-working development aimed at female entrepreneurs like herself, called Klique Creative, on the second floor above a jewelry shop in downtown Naperville. Minglin, 48, who used to be associate publisher at Chicago Parent magazine and now owns Go Girl Communications, works most days at a communal table along with other writers, web designers or public relations ​ consultants sealed off by their earbuds. “It’s a very creative environment,” she says.

In big-city downtowns, co-working spaces have been an option for members of the gig economy for several years. Now co-working is coming to the suburbs. People who have found home offices claustrophobic and coffee shops too public are seeking shared office spaces where they can park their laptops all day long for a fraction of the price of a conventional rented office and maybe even get more work done.

These places have names like Co-Optim in Deer Park, Suite Spotte in La Grange, Hub 83 in South Barrington, 25N Co-working in Geneva and the Elgin Technology Center. The big daddy of all is Regus, a Luxembourg-based chain that has 20 Chicago locations, mostly downtown, and two dozen more in the suburbs, from Lake Forest to Orland Park. (WeWork, which has six sites in downtown Chicago, isn’t among the suburban hosts.)

Still, shared workplaces are fewer and farther between beyond the city limits. Real estate services firm Newmark Grubb Knight Frank estimates in a recent study that there were 50 co-working facilities occupying 1.3 million square feet in downtown Chicago in 2016. By next year, the study forecasts, their ranks will increase to 86 encompassing 2 million square feet. In suburban Chicago, roughly 45 co-working facilities lease close to 400,000 square feet today, but more are on the way.

“Until now this has been mostly an urban phenomenon,” says Jamie Russo, executive director of the Global Workspace Association in Palo Alto, Calif. “But it’s becoming clear that co-working represents the future of work in the suburbs, too.” She estimates there are 14,000 co-working facilities in the U.S. currently and projects that total will almost double to 26,000 by 2020.

The early thinking was that suburban co-working would appeal mostly to housewives moonlighting part time in internet sales hungry to get out of the house. But it hasn’t turned out that way.

Adil Mohammed, a bankruptcy and immigration attorney, has taken a small office in the Elgin Technology Center and utilizes a Regus office in the Loop on days when he’s meeting clients downtown. He pays $550 a month for his Elgin space. “A decent office would cost me $900 a month, and that wouldn’t include utilities and the fast high-speed internet service I now have,” says Mohammed, 42. “I’m constantly on the road driving to meet with clients all over. So co-working is perfect for a mobile guy like me.”

Neil Morgan, 50, owns Cobalt Solutions, which provides cloud-based human resources services and is based at Co-Optim in Deer Park. He has seven employees, most spread around other co-working spaces. “Co-Optim gives me great flexibility to expand or contract my business without worrying about leasing real estate long term,” he says. “I’ve tried working from home, but there is always the laundry to be done or the dog to be let out. You don’t have those distractions in co-working space.”


Operators are encouraged. Mara Hauser, 56, an interior designer, started 25N in Geneva in 2014 with 10,000 square feet in a vacant bank building. In August she took an additional 5,000 square feet and now counts a roster of 200 tenants, up from 20 in her first year. She opened a co-working branch in 12,600 square feet in a former hotel in Arlington Heights and is expanding there by 4,000 feet soon. She’s got plans for a space in suburban Dallas and another in Orlando, Fla.

“We’ve become an important resource for companies looking to staff month to month who don’t want to worry about arranging for copy machines and Wi-Fi and furnishings. We have all that for them here,” Hauser says. She has local restaurants provide lunches, and she hosts happy hours and breakfasts for her tenants. She has a fitness studio and telephone rooms and meeting rooms for tenants, too. Prices range from $35 for a day pass to $365 a month and more for private offices.

Rick Cavenaugh, president of Stoneleigh in Barrington, which owns and develops office and apartment buildings around the suburbs, is a co-developer with Hauser in both Arlington Heights and Dallas. He thinks more landlords will catch on eventually. “The co-working crowd makes a building seem more vital and alive,” he says. “You won’t get contracts with companies like IBM, but you will bring in a nice mix of small and medium-sized businesses.”

Many of the tenants are software specialists. Forty-year-old Brian Kothe, who keeps a desk at 25N in Geneva, a few blocks from his home, is a programmer who writes computer code all day long for Sentric, a payroll and benefits processing company in Pittsburgh. His company initially asked him to work from a home office but eventually agreed to pay for his co-working desk. “Hey, it gets lonely at home,” Kothe says. “I prefer to be around other people. If I weren’t here, I’d be at Starbucks.”

He could have Minglin’s old spot.

Stoneleigh Construction Company – Construction Today

Stoneleigh Construction Company brings three new apartment complexes to Texas.

Construction Today | Kat Zeman | October 4, 2017

When it comes to providing luxury living, Stoneleigh Construction Company knows how to bring it. The Barrington, Ill.-based company is bringing not just one but three new luxury multifamily developments to Texas.

The firm finished construction on a 340-unit apartment complex in June and has two more luxury complexes under construction, with a targeted completion date in 2018. “Right now, Texas happens to be a great market,” President Steve Niles says.

Aside from Texas, Stoneleigh has developed projects in Arizona, Colorado, Nevada, Florida and Illinois. Its newest development, a $33.5 million apartment complex of 16 buildings in Spring, Texas, is ready for occupancy. Waterford Trails is a 340-unit luxury complex that features two- and three-story garden-style buildings with an assortment of amenities. “I think its architecture is timeless,” Niles says. “We’ve tried to introduce a lot more single-family detached residential details and material applications.”

The apartment community offers one-, two- and three-bedroom units with stainless steel appliances, custom closets, granite or quartz countertops, maple wood cabinetry and luxury vinyl hardwood floors. Select units include private fenced-in “puppy patios” and attached garages.

Outdoor amenities include two barbecue pavilions, a covered open-air living room with an 80-inch outdoor HDTV, fireplace and a resort-style pool with tanning ledge and poolside cabanas. The complex also features a clubhouse, an intimate wine room with reserved wine lockers, cyber café, full demonstration kitchen and two lounge areas with a television and Wi-Fi access. Its 1,300-square-foot fitness center is equipped with Precor fitness equipment and state-of-the-art HD entertainment consoles that offer 150 channels of entertainment programming.

Master Plan

Stoneleigh recently saw an opportunity to bring another luxury apartment community to one of the fastest-growing and most sought after-suburbs of Dallas. A 585-unit apartment complex is under construction on roughly 10 acres in downtown Frisco. The $98 million complex is a two-phase project called Waterford Market.

The first phase includes the construction of a 381-unit building, slated for occupancy in 2018. Phase two, a 306-unit building, will follow in fall 2019. “Waterford Market is a part of the Frisco master plan,” Niles says. Stoneleigh box

The two buildings will be a part of the city’s master plan that calls for additional office space, retail shops, residential developments and parks in the heart of downtown. “This creates another central core area,” Niles says. “All of that will become available to our residents within walking distance.”

The city has experienced unprecedented growth over the past decade and currently has more than $5 billion of commercial development underway which will create demand for institutional-quality apartment homes. The amenities at Waterford at Frisco will be unique in the North Dallas market, Niles says.

Adjacent to a retail park as well as a Frisco Fresh Market, the new complex will have a mixture of indoor and outdoor living amenities. Features include club rooms, game rooms, internet cafes on the second floor, outdoor patios, healthy snack vending machines, a dog wash area, and bike storage and repair facilities. Each building will also have a state-of-the-art fitness facility with 145-channel HDTV-equipped cardio equipment and a spin and yoga facility within an open-air environment that connects with each building’s pool deck and outdoor courtyard facilities.


Another luxury complex is under construction in Carrollton, Texas. This $27.5 million, 232-unit apartment complex will feature two buildings that sit on roughly four acres of land strategically located at Interstate 35 and near the DART Rail Downtown Carrollton Station.

Units inside the Switchyard complex will feature stainless steel appliances, custom closets, granite or quartz counters, maple wood cabinetry and simulated hardwood floors – just as at Waterford Trails. Select units will have access to reserved tuck-under parking.

Community amenities will include a large fitness center with Precor fitness equipment, state-of-the-art HD entertainment consoles providing 150 channels of entertainment programming and a dedicated fitness-on-demand facility. The two buildings will share a tech lounge, java bar featuring freshly brewed coffee and cold brew coffee on tap, recreational lounges, a barbecue grilling area, bike storage and repair facility, dog salon and a resort-style pool with tanning ledge, a bar area and poolside cabanas.

Lofts at Red Mountain – REBusiness Online

Stoneleigh Cos., Realty Capital Management to Develop 85-Unit Apartment Complex in Glenwood Springs

REBusiness Online | Nellie Day | September 28, 2017

GLENWOOD SPRINGS, COLO. — A joint venture between Stoneleigh Cos. and Realty Capital Management has acquired 3.8 acres of land to build The Lofts at Red Mountain Apartments, an 85-unit apartment community with ground-floor retail in Glenwood Springs. The land is situated at south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center.

The Lofts at Red Mountain has an on-site RFTA bus stop, situated next to the Glenwood Springs Community and Recreation Center. It is also adjacent to the Glenwood Springs trail system. The developers have already broken ground on Phase I, with completion scheduled for early 2019.

RVC Construction is building the project, which KCB Architecture designed. SunGate Capital Funding 7 LLC, Stoneleigh Cos. LLC and Realty Capital Partners provided equity financing.

Lofts at Red Mountain – Daily Herald

Barrington firm starts apartment project in Colorado

Daily Herald | September 27, 2017

Barrington-based Stoneleigh Companies, in partnership with Dallas-based Realty Capital Management, announced the acquisition 3.85 acres for the construction of The Lofts at Red Mountain Apartments located in Glenwood Springs, Colorado.

Phase I has broken ground and will consist of 85 apartments and 5,300 square feet of retail shop space on 2.01 acres south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center.

“The beginning of construction marks a significant milestone for all of Glenwood Springs,” said Richard Myers, Managing Director for Realty Capital Management. “We have been working to bring new housing to the Roaring Fork Valley for quite some time and look forward to developing Class A apartments for area residents.”

The Lofts at Red Mountain Apartments will feature 85 Class A luxury apartments consisting of studio, one, and two-bedroom units. Residences will range from 555 to 1,266 square feet offering high end finishes including quartz countertops, luxury vinyl hardwood-style floors, stainless-steel appliances, in-unit washer and dryer, and balconies with picturesque mountain and valley views. Community amenities include a resident clubroom with demonstration kitchen, tech lounge, fitness center and yoga studio, outdoor entertainment space with a grilling and dining pavilion and fire pit, bicycle storage, and private garage parking with electric car charging stations.

The property is located just west of downtown Glenwood Springs, on Wulfsohn Road in the Glenwood Meadows retail development, the area’s largest shopping center. The Lofts will bring an urban lifestyle to the Glenwood Springs community and will offer units and amenities above and beyond what is currently available in the area. In addition to its proximity to the Glenwood Meadows, the project has an on-site RFTA bus stop, is located next to the state-of-the-art Glenwood Springs Community and Recreation Center, and is adjacent to the Glenwood Springs trail system.

The project has been designed by Keith Bennett, founder of KCB Architecture in Salt Lake City, Utah. Local contractor Gould Construction will be performing the underground and utility work with RVC Construction out of Salt Lake City, UT working as the general contractor.

Lofts at Red Mountain – Post Independent

Lofts housing project finally breaks ground at Glenwood Meadows

Post Independent | John Stroud | September 26, 2017

Site and utility work has begun to make way for the first 85 housing units to be built at Glenwood Meadows since the Glenwood Green Apartments were completed four years ago.

Phase I of the larger, 185-unit Lofts at Red Mountain Apartments, as well as 5,300 square feet of street-front retail shop space, is now underway.

The project has been some five years in the planning and Glenwood Springs’ city approval process.

Recently, Chicago-based Stoneleigh Companies, in partnership with Dallas-based Realty Capital Management, formally acquired 3.85 acres on the south side of Wulfsohn Road for the project.

“The beginning of construction marks a significant milestone for all of Glenwood Springs,” Richard Myers, managing director for Realty Capital Management, said in a prepared statement. “We have been working to bring new housing to the Roaring Fork Valley for quite some time and look forward to developing Class A apartments for area residents.”

Last May, Glenwood City Council denied a request by the developers for some $1 million in impact fee waivers for the free-market apartment project.

Council members were concerned rent wouldn’t remain affordable over time without deed restrictions to maintain below-market rates for at least some of the units.

Myers and his development team said the smaller unit sizes planned for the project would keep them affordable, and that deed restrictions would have made it difficult to obtain financing.

“The city did do some reductions for us, but not what we thought was enough,” Myers told the Post Independent Tuesday. “We were also able to reduce some of the costs to make it work.”

Based on the current market, the efficiency studio units will likely start at $1,100 per month, with higher rents for the one- and two-bedroom units. The apartments are to range in size from 555 to 1,266 square feet, according to a news release announcing the groundbreaking.

“We should be ready with the first units by next fall, but hopefully sooner than that,” Myers said. Pre-leasing is expected to begin in the spring of next year, he said.

Gould Construction is currently doing the site grading and underground utility work. The builder will be RVC Construction out of Salt Lake City.

The Lofts apartments are to feature high-end finishes including quartz countertops, luxury vinyl hardwood-style floors, stainless-steel appliances, in-unit washer and dryer, and balconies. A resident “club room” will have a demonstration kitchen, tech lounge, fitness center and yoga studio, outdoor entertainment space with a grilling and dining pavilion and fire pit, bicycle storage, and private garage parking with electric car charging stations.

Lofts at Red Mountain – Stoneleigh Companies, LLC

Stoneleigh Companies/Realty Capital Management Announce the Groundbreaking of The Lofts at Red Mountain Apartments

(September 26, 2017) –Chicago-based Stoneleigh Companies, in partnership with Dallas-based Realty Capital Management, announce the acquisition 3.85 acres of land for the construction of The Lofts at Red Mountain Apartments located in Glenwood Springs, Colorado. Phase I has broken ground and will consist of 85 apartments and 5,300 square feet of retail shop space on 2.01 acres south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center.

“The beginning of construction marks a significant milestone for all of Glenwood Springs,” said Richard Myers, Managing Director for Realty Capital Management. “We have been working to bring new housing to the Roaring Fork Valley for quite some time and look forward to developing Class A apartments for area residents.”

The Lofts at Red Mountain Apartments will feature 85 Class A luxury apartments consisting of studio, one, and two-bedroom units. Residences will range from 555 to 1,266 square feet offering high end finishes including quartz countertops, luxury vinyl hardwood-style floors, stainless-steel appliances, in-unit washer and dryer, and balconies with picturesque mountain and valley views. Community amenities include a resident clubroom with demonstration kitchen, tech lounge, fitness center and yoga studio, outdoor entertainment space with a grilling and dining pavilion and fire pit, bicycle storage, and private garage parking with electric car charging stations.

The property is located just west of downtown Glenwood Springs, on Wulfsohn Road in the Glenwood Meadows retail development, the area’s largest shopping center. The Lofts will bring an urban lifestyle to the Glenwood Springs community and will offer units and amenities above and beyond what is currently available in the area. In addition to its proximity to the Glenwood Meadows, the project has an on-site RFTA bus stop, is located next to the state-of-the-art Glenwood Springs Community and Recreation Center, and is adjacent to the Glenwood Springs trail system.

The project has been designed by Keith Bennett, founder of KCB Architecture in Salt Lake City, UT. Local contractor Gould Construction will be performing the underground and utility work with RVC Construction out of Salt Lake City, UT working as the general contractor. Equity financing has been provided by Orlando-based SunGate Capital Funding 7, LLC, Stoneleigh Companies, LLC and Dallas-based Realty Capital Partners. The Lofts at Red Mountain is anticipated to open in early 2019.

About Stoneleigh Companies, LLC
Based in Chicago, Stoneleigh Companies is a private real estate investment company focused on acquisition and development of multifamily properties, with a track record of over 40,000 multi-family units in 35 cities and 18 states over the last 35 years. The principals and officers of Stoneleigh are experienced in all aspects of commercial real estate development, investment, finance, and operations. For more information, visit

About Realty Capital Management, LLC
Realty Capital was founded in 1987 and over the past 30 years has developed over 3,500 residential units and more than one million square feet of commercial buildings. In 2011, Realty Capital became an employee-owned firm with Richard Myers, Jimmy Archie and Tim Coltart serving as Managing Directors. Realty Capital is currently partnered with industry leaders including Hillwood Communities, Stratford Land, Granite Land and Avanti Properties in development of mixed-use projects across the Southwest. For more information, visit or contact Richard Myers at 817-313-5000.


Download the Stoneleigh Release PDF

25N Coworking – D Magazine

Illinois-based 25N Is Latest Player on DFW’s Coworking Scene

D Magazine | Kevin Cushingberry | September 22, 2017

There’s another new player in the North Dallas coworking market. Illinois-based 25N Coworking has decided on Frisco as its first expansion outside the Chicago area.

Founder and CEO Mara Hauser says 25N tapped Frisco as the home for its third location after auditioning dozens of cities around the country. “To be able to have a workspace close to [residents] was something I was very excited about bringing to the community,” she says.

According to Hauser, 25N hopes to draw membership primarily from Frisco residents when it opens next April. “We’re not a very large corporation,” Hauser says. “We’re personal. We’re there to build a network of support.”

25N differentiates itself by locating in suburban markets (its first two locations are outside Chicago) where coworking demand has been largely untapped. Work spaces are well suited for suburban residents who may otherwise work from a home office, according to 25N.

Adding to its community focus, 25N will open 12,500 square feet on the ground floor of Waterford Market apartments, developed by Stoneleigh Cos. Waterford Market is located near Frisco and Main streets in Frisco’s $5 Billion Mile.

25N’s new space will offer fully-furnished private offices, team suites, dedicated desks, shared flex space, meeting rooms, event space, and virtual office packages. Select residential amenities and additional spaces will be accessible to members through an add-on Premier Membership option. Memberships start at $25 per month, day passes start at $35, and dedicated desks start at $365 per month.

“Frisco’s rapid development has resulted in an infrastructure that doesn’t necessarily provide the consistent technological amenities that its workforce requires,” Hauser says. “So we intend to resolve the unmet needs of Frisco’s independent worker population.”

25N will join LaunchPad City and Yeager Office Suites in Frisco and WeWork (which just announced its Fort Worth expansion) and Common Desk in nearby Plano. Hauser sees potential for 25N to expand elsewhere in Texas, specifically in North Texas.

Stoneleigh Companies – REBusinessOnline

Combination of Multifamily, Office Space is Hot Concept in Texas, Say InterFace Panelists

REBusinessOnline | Taylor Williams | September 15, 2017

DALLAS — Say the words “mixed-use” in commercial real estate circles today and generally the first thought that comes to mind is a property featuring a combination of multifamily and retail space.

But there’s no written rule that says what property classes can or can’t be included in mixed-use. As such, a number of multifamily developers in Texas are redefining the term’s scope and application by bringing together apartment living and an office component in newer projects.

As part of the InterFace Multifamily Texas conference, a panel of real estate experts convened Sept. 13 at the Westin Galleria in Dallas to address this topic and other emerging trends in the apartment sector, most of which center on ways of improving amenity packages for tenants. Approximately 200 real estate professionals attended the event.

The move toward developing apartment communities with office space — not business centers — stems from landlords’ need to differentiate their amenity packages from the competition. These new office elements within multifamily properties are taking a variety of forms in their infancy, ranging from large co-working spaces and conference rooms to individualized desks and cubicles.

“Having amenities like a knockout pool and an awesome fitness center doesn’t really set you apart anymore,” said panelist Greg Coutant, director of development at StreetLights Residential. We’re working to provide what we call ‘makers’ spaces,’ which are open spaces with desks where tenants can work. We’ve found that if you provide a cool working atmosphere with connectivity, people will work there.”

Coutant noted that residents are drawn to the live/work/play environment that these office spaces provide, all under the same roof. His firm, which undertakes projects in metros with thriving office sectors, including Dallas and Austin, is even considering putting bars in some of these spaces to further heighten their appeal.

Panelist Rick Cavenaugh, president of Illinois-based multifamily developer Stoneleigh Cos. said that his firm has also seen tremendous success from the inclusion of office components at its properties, specifically co-working areas that allow employees from different companies to occupy the same workspace and develop synergies with one another.

“Integrating co-working facilities into the living environment and making it part of the offering to tenants is different from what we’ve seen with the likes of WeWork,” said Cavenaugh. “We did this with a property in Chicago and it was a total hit. We have since leased 140 workspaces in five months, and it’s brought a ton of vibrancy, traffic and new tenancy to the building.”

Cavenaugh stated that his firm sees the trend as particularly appealing to consumers in submarkets with steep office rents, such as Frisco and Plano.

“In those submarkets, there’s just not that option for people to have an office for a few hours a day, three days a week, and then to be able to walk down the hall to their apartment,” he said. “It’s a different working environment, but one that definitely promotes flexibility. We’ve seen that Millennials like that flexibility.”

Panel moderator Drew Kile, director of Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap, noted that the trend also seems to have legs in Austin, where office rents have been rising for the past five-plus years.

“There’s a growing percentage of people in urban Austin who work from home,” said Kile. “The more workspaces you put into a building, the more they get used. Not so much a business center, but a place where they can bring their own laptops and have their own meetings.”

Tom Lamberth, regional partner of Dallas-based CF Real Estate Services and another conference panelist, sees as much monetary potential in these features as the other panelists see in their ability to generate positive word-of-mouth for the property.

“We’re working on making the office component more than just an amenity, but something you can monetize,” said Lamberth. “We have a property in Atlanta where inside the amenities center we built about 12 office cubicles that people can rent for a few hundred dollars a month. And we’ve had demand for these spaces from people who don’t even live in the building.”

While StreetLights, Stoneleigh and CF Real Estate have yet to iron out all the kinks of developing and leasing these office spaces in their multifamily projects, they have little doubt as to their ability to heighten the appeal of the property and cater to the preferences of tenants.

Stoneleigh Companies – Huffington Post

Coworking Grows in 2017

Huffington Post | Amanda Schneider | July 24, 2017

2017 saw continued growth of the flexible office industry and a broader range of offerings. While “Serviced Offices” have been around for decades (30+ years), the term “coworking” has been the media standard term for the last 10 years, and is likely here to stay according to the Global Workspace Association (GWA), a platform helping shared space operators, corporate real estate professionals, real estate investors, and service providers stay connected, current, and competitive.

The GWA is releasing results from their 2017 Industry Financial Survey, which is sent to hundreds of shared workspace operators, including association members and non-members. The survey gives us unique insight in that it covers specific P&L data from operators, with the goal to create industry benchmark data. But it goes beyond there. We can learn a lot about the future of workspace by studying spaces where people pay for workplace. Here are a few of the key takeaways:

1. Private Businesses and Landlords are getting into the flexible workspace game.

This year we’re seeing flexible options from landlords and private businesses grow faster than anyone expected. According to a recent Liquidspace report, 36% of the transactions on their platform are through private businesses or landlords offering extra space directly to consumers. Jamie Russo, Executive Director of the GWA, says, “The Commercial Real Estate industry may not have historically described itself as ‘nimble and innovative,’ but that may just be the behavior that we’re starting to see. This growth in transactions from landlords suggests demand for coworking, particularly from corporations, is growing. Landlords are increasingly seeking creative relationships with shared workspace operators in order to effectively activate their flexible offerings.”

The predominant approach is still the operator leasing the space, with 72% of respondents following that model. 19% of the respondents own their space, 3% reported a joint venture between the operator and the landlord, and 1% reported a management contract between the operator and the building owner. GWA research anticipates seeing less leasing and more operator/owner relationships in the next five years. As rent rates increase, the typical model is facing new challenges to remain profitable. Russo continues, “Growth of flexible office space offered by landlords will be an interesting evolution to watch over the next few years. I predict we will see an increased focus on the level of hospitality and community activation across flexible offerings, particularly in the context of a landlord offering a diverse portfolio of spaces. As corporations look to increase employee productivity with tools like flexibility, reduced commutes and compelling work environments, landlords will look to market their buildings by meeting that criteria and offering a variety of amenities, workspace configurations and managed communities to keep users engaged. Landlords may choose to partner with experienced coworking operators to deliver on hospitality and community activation.

2. There is an increasing focus on the user experience.

Two of the hottest buzzwords in the workspace industry right now are “consumerization” and “user-centered.” Everyone from landlords to corporate real estate departments to temperature control start-ups are focused on serving the “HDTV” consumer that expects a high level of design and hospitality at the corporate office, what we in the industry call their “third space.” Russo says, “What we are seeing is real estate evolving to be thought of not just as ‘buildings’ but as organic ecosystems that flex as their users’ needs change. As corporations start to look at off-campus options for employees, we see landlords pulling out all stops to attract users and taking really innovative approaches to amenities, workspace options and services.”

Highlights from the first half of 2017 that illustrate the user-focused industry trends:

· Convene raises $68M to fund expansion.

· Tishman and Speyer launches “Zo,” a high-amenity concept that aims to make its portfolio highly desirable and competitive.

· Banks—some of the most conservative, slow-moving, security-fearing companies—are using flexible office options as they grow teams in ancillary markets.

· Investments continue to flow into the coworking sector, indicating a bullish outlook for the continued growth of the consumerization of workspace: The Wing raises $8M, The Yard raises $15M in debt financing, WeWork added $300M to its balance sheet from Softbank, Industrious raised another $25M, and Asian companies added a long list of funded shared workspaces.

· Asset owners like Granite Properties and Stoneleigh Companies start installing coworking brands into their buildings (Common Desk and 25N Coworking respectively).

3. Open plan ≠ Coworking. Users are looking for productivity, not just a place to network.

Today 80% of coworking spaces offer private offices. While private spaces for individuals or teams make startup-costs higher for the operator, the demand seems to be growing for them.

Russo explains, “There is a big myth that coworking means open workspace. When the industry started to emerge in 2006, layouts were primarily open space and the hosts were focused around the simple idea of bringing people together to work. That approach worked for a period of time, but today the makeup of users and their space requirements is evolving.”

No longer are programmers and freelance designers the core membership. The GWA data shows that makeup of audiences today is 20% freelancers, 47% small business, and 12% mobile corporate users.

Steve King, partner at Emergent Research – a consulting firm focused on the small business sector of the US and global economy – shares some additional insight in the coworking audience evolution, “When coworking started, it was a movement predominantly around freelancers. Then around 2009 startups found coworking because they realized that signing a long-term lease didn’t make sense, and coworking fit right in. (Particularly in tech towns such as San Francisco, Boston, New York, and Austin.) What the GWA survey is showing is how the definition of flexible workspace is evolving. Much of the recent growth has been in corporate mobile users, and five years from now, I’d be surprised if they didn’t make up 35% of the coworking population. Small businesses (non-tech) are starting to move that way, but at a much slower pace.”

Freelancers are the individuals that are mostly doing computer work, so when coworking started it was focused there and open plan made sense. However, the demand for flexible office space is increasing through the sharing economy and is creating a shift in demand as corporate and small businesses users are on the rise. As the makeup of users shifts, the needs for layout in coworking spaces shifts, too. GWA data shows us the importance of variety in spaces in order to create the environment that makes coworking communities thrive. In fact, today’s data tells us that conference rooms and private offices are the most frequently offered spaces across all flexible workplace types. The supply side is reacting to that demand and creating more private spaces.

In many markets, the demand is higher for offices and team spaces, making them easier to fill. While some coworking purists idealize the open-plan for its community-building simplicity, this often comes without practical consideration for the type of work that gets done in shared workspaces. Russo says, “We see people saying they want a professional experience and a variety of usable spaces. The data suggest the market is starting to supply that in increasingly creative ways. People are expecting well-designed spaces that are also professional, and they are willing to pay for an experience that they can’t get from a home office or even a corporate campus. This is the consumerization of the work place.”

Data from members of shared workspaces indicates that the number two reason that people use shared workspaces is productivity. Some may lump networking under the productivity umbrellas (i.e. productively chasing new business under one roof), but it more likely means getting work done. For many, getting focused work done is simply easier to do in an area with four walls where you can control the stimuli (chatter, people walking by, Skype calls, etc.) Still, productivity looks different for different audiences, and that is changing the face of these spaces.

Russo closes with this thought: “The future is about flexibility, and a lot of corporations are still trying to figure out what that looks like for them and how to logistically manage it. The trend is moving toward choice, but the biggest shifts will come from gathering data that helps us measure and improve future offerings. What we have discovered with coworking is that professionals need other brains. You simply can’t do great knowledge work alone.”

25N Coworking – Daily Herald

25N Coworking features culture of collaboration, diversity

Daily Herald | June 8, 2017

25N Coworking offers flexible shared workspace, private offices and meeting rooms to corporate teams, small businesses and independent professionals — all within a next-generation co-working environment.

25N’s coworking model is based on deliberate community & economic development via professional workspace design, premium technology, curated programming & events, communication platforms, business development resources, and value-added partnerships.ost of the evening looking at a plate with nothing but alternating hunks of seared flesh on it.

The result: a culture of collaboration, diversity and growth within a single, shared workplace.

Beyond igniting daily collaborative exchanges, 25N also prides itself on maintaining an impressive level of productivity among its members, and this is accomplished mostly through detailed workspace design and applied technologies.

To maintain that healthy level of productivity, 25N designs spaces that balance shared space to interact with private space to focus. At 25N Arlington Heights, an open flex space with traditional office furniture is balanced by seating areas that include sofas and/or nontraditional surfaces and lighting — a perfect mix for diverse work preferences.

“We created a variety of work zones,” explains Mara Hauser, founder and CEO. “Depending on the project or task at hand, one can be in the mix of the buzz or tucked away for heads-down work.”

Additionally, the office furniture itself supports a maximized work day. Desks and workstations from DeskMakers and Teknion provide integrated power stations at every seat for effortless laptop/phone charging, and A.V. systems from EOC Audio transform every meeting room and shared space into an instant venue for presentations. Additional amenities include comfortable ergonomic seating, spontaneous write-on idea walls, and custom, reclaimed conference tables and benches from J. Hoffman Lumber Co.

25N’s dedication to collaboration and productivity has caught the attention of many local professionals seeking not only a comfortable work environment but the opportunity to connect to and network with the local economy.

For example, the Arlington Heights Chamber of Commerce immediately recognized 25N Coworking as a small business “hub” and is now headquartered there in a combination of private office and dedicated flexible workspace. In addition to its proximity to the existing local business scene and entrepreneurial newcomers, 25N also made sense because of its communication and marketing channels for promoting the Chamber’s brand and cross-promoting Chamber events & resources.

Although there is a sharp focus on amenities and community at 25N Coworking, their measure of success lies within each individual member, and it hinges on a few simple questions that serve as a key motivator and mission:

• Did you interact with someone that you’d like to continue a conversation with?

• Were you comfortable and productive?

• Did you leave more motivated than when you arrived?

Curious about 25N and coworking? Schedule a tour by emailing

Switchyard –

Metro Can’t Build Multifamily Fast Enough | Lisa Brown | April 17, 2017

CARROLLTON, TX—With the constant roar of commercial projects and subsequent job creation, the metro can’t seem to build enough multifamily units to meet demand. A prime example is the 234-unit Switchyard Apartments which are underway at the northeast corner of IH 35 and Belt Line Road, located at 1199 North Broadway St., adjacent to a DART rail station.

Chicago-based Stoneleigh Companies LLC, in partnership with Realty Capital Management, teamed up to celebrate the groundbreaking of the luxury apartments earlier this month. Switchyard Apartments will feature luxury apartments consisting of studio, one- and two-bedroom units.

Residences will range from 525 to 1,262 square feet offering granite countertops, hardwood floors and stainless steel appliances. The four-story building will include a courtyard with swimming pool and outdoor entertainment space, fourth floor terrace deck and resident lounges, juice/java bar, fitness center and a tech lounge.

Josh Matthews, regional asset manager of Waterford Residential; Ryan Swingruber, development manager of Stoneleigh Companies LLC; Richard Myers, managing partner of Realty Capital Management and Doug Hrbacek, mayor pro tem of Carrollton, were on hand to commemorate the festivities. The project is already creating buzz among the single crowd, couples and empty nesters.

“The one-bedroom units are attracting singles aged 24 to 35 who work in a variety of industries such as medical, retail, business, etc.,” Matthews tells “The two-bedroom units are being targeted by roommates and singles also aged 24 to 35 in the same industries. The two-bedroom units are also getting noticed by young couples and some empty nesters.”

Switchyard – REBusinessOnline

Stoneleigh, Realty Capital Break Ground on 234-Unit Apartment Complex in Carrollton

REBusinessOnline | Taylor Williams | April 12, 2017

CARROLLTON, TEXAS — Chicago-based developer Stoneleigh Cos. and partner Realty Capital Management have broken ground on Switchyard Apartments, a 234-unit apartment complex located at 1199 N. Broadway St. in Carrollton. The four-story building, which will be located next to a Dallas Area Rapid Transit (DART) station, will feature a resort-style pool, fitness center and a juice bar. Units will range from 525 square feet to 1,262 square feet.

One Uptown – PaperCity

New $85 Million Luxury Tower is a Skyline Changer: Plush Living Reaches New Heights in Dallas

PaperCity | Josie Washburn | March 9, 2017

Dallas’ skyline just gained a glitzy addition with the unveiling of a brand new upscale apartment building. Luxury high-rise residential tower One Uptown officially opened its doors recently, bringing a new sky-high living option to the city.

The 20-story, $85-million tower, appropriately dubbed “a walker’s paradise,” aims to offer a first-class living experience on McKinney Avenue in the heart of Uptown. It’s also within walking distance of some of Dallas’ best outdoor fixtures including Klyde Warren Park and the Katy Trail, a Whole Foods, and other hot restaurant and nightlife spots.


One Uptown makes its mark with amenities like a rooftop pool, and a massive sky deck and lounge with impressive views of Dallas. If the sky-high looks weren’t enticing enough, the building also houses Southern Brazilian steakhouse Fogo de Chao, and will soon welcome five star European restaurant Circo.

The curved-glass apartment tower, designed by architect Phil Shepard, boasts 196 tower residences and penthouse suites that range from a 571-square-foot studio apartment to a 1,993-square-foot penthouse. Rents range from $1,650 a month for the studio to nearly $10,000 a month for the largest penthouse.

On Thursday, April 20, two installations by Dallas-based artists will be revealed at One Uptown. The first is Brad Oldham‘s “Sunlight Prism,” a 17-foot-tall piece accompanied by a digital video loop, set to be located in the lobby.

Shane Pennington designed the second, “Uptown Moment,” a mirror-finish sculpture standing at 16 feet tall. The stainless steel monument will be on view outside, on the corner of McKinney and Routh Street.

Lofts at Red Mountain – Post Independent

Robust market pushes housing projects ahead

Post Independent | John Stroud | March 1, 2017

A hot housing market has developers of at least one already-approved apartment project in Glenwood Springs looking to more than double the number of units, and they might not even need a new fee waiver adopted by the city to do it.

The Lofts at Red Mountain, which is part of the larger Glenwood Meadows development, is one of several projects approved or on the table in Glenwood that could take advantage of a new incentive program to waive certain impact fees in trade for some apartments being offered under a 30-year deed restriction to keep rents affordable to middle-income earners.

“We have discussed it, and we are reviewing that,” said Dylan Leonoudakis, vice president of development for Realty Capital Management, developers of the planned Lofts project. “We are happy that the city is looking to encourage development of this type of housing.”

But a proposal coming before the city to expand from two buildings and 88 apartments, as approved by the city in July 2015, to five buildings and up to 185 units, is being driven by the current housing market, he said. The proposal would serve to build out that portion of the residentially zoned sections of the Meadows.

“We’re pretty excited about the market and are looking forward to starting construction in late spring,” Leonoudakis said. “There is strong housing demand in Glenwood Springs, as we have known for some time, and we look forward to bringing a quality product that people will enjoy.”

The Lofts, followed shortly by the 116-unit Oasis Creek Apartments on U.S. 6 that also won approval from the city in early 2016, served to spark conversation among city officials about how to provide incentives for developers of smaller residential units, especially rentals.

When the Lofts project won the city’s approval, Leonoudakis and his business partner, Richard Myers, were quite vocal about the city’s impact fees for such things as water and sewer utilities, parkland dedication, emergency services and schools, being cost prohibitive.

“We are not looking to avoid our fair share of impact fees, but without some relief from the current fee structure there is no way for us to help address the need for quality affordable housing in Glenwood Springs,” Leonoudakis wrote in a letter to City Council at the time.

The concerns prompted the city to begin looking at ways to reduce some fees and to provide waivers for any developers who would agree to place deed restrictions on any rental units they proposed to build.

Since then, the city did adjust its water and wastewater system impact fees to encourage construction of smaller units. More recently, City Council also approved a means for developers to qualify for fees to be waived altogether on units that carry a voluntary, 30-year deed restriction holding rents to a level that’s attainable for households earning below 120 percent of the Garfield County area median income.

Tenants of those units must also be employed by a business with a physical address within Glenwood’s 81601 ZIP code, or have a home business that conforms with city guidelines.

Tyler Richardson of Richmark Companies, developers of the Oasis Creek project, said his group is still working the numbers to see if it makes sense to proceed given current market demand. However, Richardson said the project is not likely to take advantage of the new fee-waiver incentives.

“This is a market-rate project and was always intended to be that,” he said.

Another developer who was floating preliminary plans for an apartment project on Midland Avenue, which was ultimately shot down by City Council, had an interesting take when asked if he would make use of the fee waiver incentives. Craig Helm said that, even though rental units in his project might fit the price points for deed restrictions, management of deed-restricted units is a concern.

“It does create a lot of extra work to deal with the administration of that,” Helm said, adding that turnover of the units based on the tenant restrictions favoring local workers could be onerous. “Just when you get a good tenant in, they might have to move just because they get a new job outside of Glenwood Springs.”

Keller – Dallas Business Journal

Deals Day: Dallas investors make big trades

Dallas Business Journal | Candace Carlisle | February 24, 2017

With a hot Dallas-Fort Worth real estate market under its belt, Stoneleigh Cos. LLC — the development firm behind the newly completed One Uptown in Dallas— has sold two of its apartment communities in Keller.

The two communities, Dominion Town Center and Lakes of Stone Glen, were acquired four years ago in February 2013, with the principals of Stoneleigh Cos. being the original developers of the apartment communities.

Both communities sold on Feb. 17. The 276-unit Dominion Town Center was sold with 96 percent occupancy rate, while the Lakes of Stone Glen, a 216-unit community, sold at a 99 percent occupancy rate.

CBRE represented Stoneleigh in the deal.

With all-time high occupancy rates and rental rates in North Texas, Stoneleigh, in partnership with Realty Capital Management, closed on a 4-acre tract at the northeast corner of Interstate 35 and Belt Line Road in Carrollton for a new apartment development.

The 234-unit apartment project, known as Switchyard Apartments, will feature luxury studio, one- and two-bedroom apartment homes ranging from 525 square feet to 1,262 square feet with granite countertops, hardwood floors and stainless steel appliances.

“Switchyard will be our latest new construction project in the Dallas area and will take advantage of the ongoing growth of the Carrollton market,” said Rick Cavenaugh, president of Stoneleigh Cos., last month.

“Our enthusiasm for the project is buoyed with the excellent location and the current health of this Dallas submarket,” he added.

Construction is slated to get underway by the end of this month. Upon completion of the Switchyard in 2018, Waterford Residential is expected to manage the property.