Company starts more than 6,500 apartment homes in 2015 to earn distinction
DALLAS, April 25 – Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced it has been listed as the second largest developer of multifamily housing in the country, and the third largest general contractor of multifamily housing according to the National Multifamily Housing Council’s 2016 Top 25 Developers and General Contractors List.
This marks the second consecutive year Mill Creek Residential has placed second on NMHC’s list, and the fifth consecutive year the growing company has finished in the Top 10 of a prestigious developers list. While Mill Creek has been among the Top 10 developers for each year since the business was launched in 2011, this is Mill Creek’s first listing as a Top General Contractor. Mill Creek Residential increased the number of apartment homes started to 6,567 in 2015 compared with 5,397 the previous year. Atlanta, Dallas, Southern California and Miami are among the high performing markets in which Mill Creek began development in 2015.
“This is an esteemed group of leading private and public companies and to be included is at once humbling and an affirmation that we are making a significant contribution to the lives of many apartment residents across the country and the communities in which we, and they, work and live,” said Charles R. Brindell Jr., chief executive officer of Mill Creek Residential. “We are pleased to be on the NMHC Top 25 list, and no matter where we land on the list today or in the future, our focus will always be on developing high quality, thoughtfully designed, apartment homes in the most desirable locations in the country.”
The NMHC Top 50 is the National Multifamily Housing Council’s authoritative ranking of the nation’s 50 largest apartment owners, 50 largest apartment managers, 25 largest apartment developers and 25 largest general contractors. NMHC began ranking the top 25 developers in 2015. Mill Creek Residential previously garnered three top-10 finishes on similar lists compiled by Multifamily Executive Magazine. Mill Creek first appeared in 2012, ranking ninth on MFE’s Top 50 Builders List (2,662 apartment homes built in 2011). Mill Creek jumped to third on the same list in 2013 (5,001 apartment homes in 2012) and second on the magazine’s MFE 25 Developers in 2014 after beginning construction on 5,033 apartment homes in 2013.
Mill Creek Residential anticipates starting the development of more than 4,900 apartment homes during 2016. Mill Creek Residential began construction on Modera River North (Colorado), Modera Parsippany (New Jersey), and Modera 55 (New Jersey) in the first quarter of 2016, and expects to start communities that include Modera Central (Florida), Modera Vinings (Georgia), Modera South Bay (Massachusetts), Modera San Pedro Square (California) and Modera Italian Embassy (Washington D.C.) through the end 2016.
The expected 2016 development starts are part of Mill Creek Residential’s $3.8 billion development pipeline, representing 10,962 apartment homes. Since the company’s inception in 2011, Mill Creek Residential has started construction on or acquired more than 21,500 apartment homes spanning more than 75 apartment communities in its targeted markets across the country.