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BRP, CNY Group Break Ground on $407M Transit-Oriented Development in Queens

BRP, CNY Group Break Ground on $407M Transit-Oriented Development in Queens

NEW YORK CITY — Developer BRP Cos. and general contractor CNY Group have broken ground on The Crossing at Jamaica Station, a $407 million, two-building development in downtown Jamaica in the Queens borough of New York City. The 669-unit affordable housing development will be situated at the Metropolitan Transit Authority’s (MTA) Jamaica Station, which features a link to AirTrain JFK, John F. Kennedy’s International Airport’s mass transit line. The Crossing will feature a 30-story high-rise located at Archer Avenue and Sutphin Boulevard between the Long Island Rail Road and three MTA subway lines. The other building will span 15 stories. FXFOWLE Architects designed both buildings to achieve LEED Silver certification. In..

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Food, Fitness, Entertainment Firms Will Save Houston Shopping Centers, Says InterFace Panel

Food, Fitness, Entertainment Firms Will Save Houston Shopping Centers, Says InterFace Panel

HOUSTON — As brick-and-mortar retailers such as Sears, Macy’s and hhgregg continue to shutter stores throughout the country at a furious pace, Houston developers are rapidly warming to the idea of anchoring their shopping centers with restaurants, fitness centers and entertainment-based businesses. Retail executives throughout the Houston area convened at the InterFace Houston Retail conference on April 18 to discuss the impact of this trend and others on the metro’s retail real estate market. In Houston, the rampant growth of e-commerce contributed to 1.3 million square feet of big-box space being returned to the market in 2016, according to CBRE. In addition, the first quarter of 2017 saw net absorption of only 182,00..

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Harbor Group International Buys 700-Unit Apartment Property Near Miami for $158.5M

Harbor Group International Buys 700-Unit Apartment Property Near Miami for $158.5M

PEMBROKE PINES. FLA. — An affiliate of Harbor Group International LLC has acquired the 700-unit Montage at City Center in Pembroke Pines, a suburb of Miami, for $158.5 million. Montage at City Center contains 12 mid-rise buildings and 28 townhome buildings. The community offers a mix of one-, two- and three-bedroom units. The property is currently 95 percent leased with an average market rent of $1.55 per square foot. Montage at City Center was built in two phases between 2014 and 2015. Unit interiors feature formica countertops, espresso cabinetry, stainless steel appliances and hard-surface flooring. Property amenities include a LEED Gold-certified clubhouse, two resort-style pools, a fitness center, business center, game room..

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Joint Venture Breaks Ground on $79M Marriott Hotel and Conference Center in Odessa, Texas

Joint Venture Breaks Ground on $79M Marriott Hotel and Conference Center in Odessa, Texas

ODESSA, TEXAS — A joint venture between the City of Odessa, Eofficial Enterprises and Gatehouse Capital has broken ground on a Marriott Hotel and conference center in Odessa. The development will include a seven-story, 218-room hotel, 67,500-square-foot conference center, 365-stall parking garage and full-service Starbucks Coffee. Plans also include the refurbishment of Ector Theater, a historic performance and event venue originally built in 1951. The theater is located next to the new development. Construction is expected to take approximately 18 months, and will cost $79 million. Funding for the project will include $48 million from Sondra and Toby Eoff with Eofficial Enterprises, and $31.6 million from city officials. The..

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