Latest news with #CornerstoneDevelopment
Zawya
6 days ago
- Business
- Zawya
Cornerstone Development is taking part in the 15th Nile Real Estate Exhibition in Doha, Qatar
Under the sponsorship of Egyptian Prime Minister Dr. Mostafa Madbouly, Cornerstone Development will take part in the 15th edition of the Nile Real Estate Exhibition, which will take place from May 26 to 29, 2025, at the Doha Exhibition and Convention Center in Qatar. In addition to unveiling several notable units in its projects in the Administrative Capital and Mostakbal City in New Cairo, Cornerstone Development is providing its clients with a plethora of offers and facilities throughout the expo. According to Engineer Ashraf Boulos, Chairman and Managing Director of Cornerstone Development, the company is eager to take part in significant real estate shows and events outside of Egypt because it believes that exporting Egyptian real estate is essential to bringing hard currency into the country and bolstering the economy. He noted that Egypt has enticing prospects that allow it to make strides in this crucial area, such as appealing cities and areas, high real estate values, and the existence of significant real estate development firms with skills and capabilities that provide a unique product. He clarified that the company has been eager to execute unique and creative projects with the best design and finishes since its founding in order to satisfy the demands of international clientele. He pointed out that between 40 and 50 percent of the company's overall revenues come from customers outside of Egypt. According to Cornerstone Real Estate Development's Sales Director, Tamer Boulos, the company stands out for being the first to deliver its units that are 80% completed. This system, which Cornerstone invented for the Egyptian market, enables clients to get the apartment with ceramic facades and tiles, allowing for quick move-in and relocation. During the Nile Real Estate Exhibition in Qatar, he made note of the company's provision of prestigious units in its RED project in Mostakbal City, New Cairo. With units of different sizes, Cornerstone is providing Mostakbal City's lowest percentage of built-up area through the project. In Mostakbal City, New Cairo, Cornerstone will carry out the RED project in three phases. The project consists of villas of various models: duplexes and townhouses, with ground floor and three upper floors. The total number of villas in the project is 250 villas and 400 apartments. Every effort is made to guarantee the units' privacy and independence. One of the biggest consulting organizations has been hired by Cornerstone to help conceptualize the project, by means of integrating innovative design ideas. Despite the need for about 22% of the land to be built up, Cornerstone has only constructed on 17% of it. Roads, services, landscaping, and green areas occupy the remaining space. Tamer Boulos went on to say that during the Nile Real Estate Exhibition, Cornerstone would also introduce units in The Curve project in the New Administrative Capital. Delivering units is expected to start in December 2025. One of the earliest initiatives in the New Administrative Capital's R8 district was The Curve. It is situated in one of the most noticeable areas, right next to the Green River and near the airport, the Presidential Palace, the ministries, and the Mohammed bin Zayed Axis. With 15 buildings spread across four blocks, it has a total built-up area of 100,000 square meters. Residential apartments, duplexes, and penthouses with expansive open areas are among the several types of units.
Yahoo
01-05-2025
- Business
- Yahoo
Plan envisions 90 condos and 48 single-family homes near Pewaukee's Springdale Estates
PEWAUKEE - Springdale Estates residents could soon greet new neighbors in a mix of condominiums and single-family homes that a developer is considering in the City of Pewaukee. Sussex-based Cornerstone Development has formally presented its concept plan for The Glen of Pewaukee, with 90 condo units and 48 freestanding houses along Springdale Road between the north and south intersections of Glenwood Lane. It's a 58-acre parcel adjacent to the existing residential neighborhood, which consists almost entirely of single-family homes. The city's Plan Commission got its first glimpse of the layout and features for the potential development on April 17. Commission members used that opportunity to comment on and suggest changes in the preliminary design, which includes 18 four-family and nine two-family condo buildings adjacent to Springdale Road. The Glen of Pewaukee plan also includes a clubhouse, pickleball courts, a pool, water fountains and a paved trail in different spots within the development. But the housing elements are the primary focus, including purposeful condominiums. "This is not a development, this is a neighborhood," Cornerstone Development Chairman John Wahlen said at the April 17 meeting. "We don't have residents, we have condominium homeowners, and we try to instill that thought pattern on everybody in our organization." Wahlen told commission members that Cornerstone was cognizant of the Springdale Estates' established single-family homes. "We tried to develop a plan that would fit well into the existing area," he said. But Cornerstone is also known to include condos in its developments "for people who want to downsize," Wahlen added. "I think the big objective here is create a place — the term that I read about internationally is place-making — where people would want to live either around a single-family home, but not in a single-family home," or a similar family environment, though under a living arrangement where an association cares for a property's exterior, "your snow removal, all of your grass cutting, your plant beds." Families with teenage children would send their kids to Waukesha North High School. For the most part, city officials liked what they saw. "I am generally in support of the proposed development and site layout," Nick Fuchs, planning and community development director, said in an April 30 email, noting how Cornerstone would neatly connect the homes to existing streets and avoid impacting nearby wetland and environmental features. "I find the density appropriate as well." In the email as well as his staff report, Fuchs also said Cornerstone's decision to place the new family homes adjacent to the existing Springdale Estates homes created an acceptable buffer to the condo buildings on the eastern and southern edges of the 58 acres. The Glen of Pewaukee documents presented to the city stated that the average home value would be about $650,000, creating a development valued at $90 million when complete. Plan Commission members acknowledged some concerns, including the density of the development and the traffic that would be added to Springdale Road. That means the number of condo units and the need for a traffic study might need further consideration. But most panel members said they liked the layout of the plan. The plan would require the land to be rezoned to Rs-6 for the single-family residential portion of the property — the same as the existing neighborhood — and Rm-1, a multi-family residential district, for the condo buildings. The rezoning, which will require a public hearing and separate approval, and the final site plan are among the elements that remain if Cornerstone proceeds. Fuchs said indications are the company will. Contact reporter Jim Riccioli at This article originally appeared on Milwaukee Journal Sentinel: The Glen of Pewaukee would have 90 condos, 48 single-family homes
Business Journals
23-04-2025
- Business
- Business Journals
Pewaukee could see 58-acre 'lifestyle' community
By submitting your information you are agreeing to our Privacy Policy and User Agreement . A clubhouse, swimming pool, paved trail and pickleball courts are all in the works for a planned community in Pewaukee. AT A GLANCE A proposed project in Pewaukee would bring 90 condos, 48 single-family homes and a plethora of amenities. John Wahlen of Cornerstone Development suggested buyers likely would be locals who are looking to downsize. If The Glen at Pewaukee is approved, construction could start in spring 2026. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Vacant land nestled into a sprawling Pewaukee subdivision could be the next stop for residents looking to downsize. Cornerstone Development, one of the Milwaukee area's largest homebuilders, this month presented preliminary plans for a community off Springdale Road south of Interstate 94 called "The Glen of Pewaukee," which would have 90 condominiums and 48 single-family homes. The land — 58 acres of mostly vacant property formerly used for agriculture and some wetland — is nearly surrounded by the Springdale Estates subdivision. The condos would be spread out among 18 four-unit buildings and nine two-unit buildings, with each unit to have an attached two-car garage, according to plans submitted for the city's review. John Wahlen, owner of the development firm known for its double-duplexes, told the commission that the project would complement the surrounding homes while "offering a lifestyle change for folks who typically will want to downsize." expand A site plan for a planned community called The Glen at Pewaukee. Cornerstone Development He anticipates The Glen's residents will most likely be locals looking to take advantage of the proposed amenities, including a clubhouse, swimming pool, paved trail and pickleball courts. They will also likely be empty nesters, divorcees or widows. "We think the buyers here, particularly on the condominium side, would come from a 5 to 7-mile radius," Wahlen said. "They want to change how they live, but not where." The condos would cost about $650,000 per home, and the single-family homes are expected to be listed for more, Wahlen said. Members of the city's Plan Commission requested that a traffic study be completed to determine if the narrow Springdale Road can support more use. The land would also need to be rezoned before the project can proceed. If all goes according to plan, Wahlen suggested work on the site could begin this winter, with construction starting in spring 2026.
