CPBJ - Triple Crown finishes project in Lower Allen, eyes another
Triple Crown finishes project in Lower Allen, eyes another
By Jason Scott, May 13, 2016 at 3:00 AM
With construction complete on the 150-unit Brooks Edge Apartments project on Lisburn Road, Triple Crown Corp. has shifted its focus to another housing development in Lower Allen Township.
Construction on Stone Gate Village, a rental townhome community with 89 units, is expected to begin this summer in the 2700 block of Lisburn Road, near Christian Life Assembly and Slate Hill Road.
Stone Gate will feature a mix of two- and three-bedroom townhomes with a fitness center, community pool and a splash park, according to Lower Paxton Township-based Triple Crown Corp.
Brooks Edge, which includes five apartment buildings, each three stories high with 30 two-bedroom, two-bathroom units, started seeing tenants move in a year ago. Today the site of the former Cedar Run Elementary School is about 90 percent leased, said Deb Hodges, the company's COO.
The company is coming off a strong 2015. It finished with $27.3 million in revenue, up 38 percent from 2014. And officials are bullish about the real estate market this year.
Hodges said CEO Mark DiSanto is always looking for deals, whether it's residential or commercial projects in the Harrisburg area.
But commercial might have more upside this year, she said.
Triple Crown has three flex office buildings under contract in the Gateway Corporate Center in Lower Paxton Township and it recently completed a flex warehouse behind the Giant grocery store in Susquehanna Township.
The company's portfolio includes nearly 1,200 residential rentals in 13 properties on the East and West shores, plus it owns and/or manages about 2 million square feet of commercial space.