Development

Greystar-Led Joint Venture Breaks Ground on 605-Bed Student Housing Project Near San Diego State University

by Amy Works November 20, 2025

SAN DIEGO — A joint venture between Greystar, Kanden Realty & Development America and Tokyo Tatemono has broken ground on Accolade Campanile, a 605-bed student housing development serving students attending San Diego State University. The development will rise six stories and offer 310 units at the southwest corner of Montezuma Road and Campanile Drive. Shared amenities are set to include a pool and spa; multiple outdoor kitchens and gathering spaces; fire pits; a fully equipped indoor/outdoor fitness center; multiple clubhouses; recreation and game lounges, including a speakeasy; indoor bicycle storage; a dog spa; and dedicated study spaces on each floor. The property will also feature ground-floor retail space. The community was designed by JWDA Architects. Construction financing was provided by Helaba Landesbank Hessen-Thüringen. The project is scheduled for completion in June 2028 with leasing set to begin in August 2027.

November 20, 2025

Arizona Development Retail Western

Vestar Completes 400,000 SF Queen Creek Crossing in Metro Phoenix

by Amy Works November 20, 2025

QUEEN CREEK, ARIZ. — Vestar has completed Queen Creek Crossing, a 400,000-square-foot retail development located in Queen Creek, approximately 40 miles southeast of Phoenix. Costco anchors the property, which is fully leased. Other tenants include Ashley Furniture, Hobby Lobby, BJ’s Restaurant and Brewhouse, Ono Hawaiian BBQ, Smoothie King, Sleep Number, Fleet Feet, Well Groomed Pets, Desert Financial Credit Union, Natural Pediatrix, Gallery Nails and Snip-Its. Additionally, The Habit Burger and Grill is scheduled to debut in December, while U.S. Bank is expected to open in late 2026. Vestar originally broke ground on the 31-acre development in 2022.

November 20, 2025

Arizona Development Retail Western

Diversified Partners to Develop $60M East Gate Plaza Retail Project in Mesa, Arizona

by Amy Works November 20, 2025

MESA, ARIZ. — Diversified Partners has announced plans to develop East Gate Plaza, a $60 million retail destination at the northeast corner of Elliot and Ellsworth roads in Mesa. Spanning approximately 7 acres, East Gate Plaza is located within the master-planned community of Eastmark and the emerging Superstition Vistas region, a planned 275-square-mile area of developable residential and commercial opportunities. East Gate Plaza will feature distinctive building designs, pedestrian-friendly layouts and a professional curated tenant mix. Current confirmed tenants include Starbucks Coffee, Einstein Bros. Bagels, Discount Tires, FitFX, WingSnob, Señor Taco, Farmer Boys, Zeitouna, Fresh Monkee, Port of Subs, Ono Hawaiian BBQ, Euphoria Nail Salon, Playa Bowls, Hand & Stone Spa, Kolache Café and Andi’s Hair Salon (AVEDA). Additional tenants will include a dental office, a veterinary practice, a med spa, family medicine practice and a restaurant with a bar. The project will also feature the Cambria Hotel. Construction is underway, with delivery slated for first-quarter 2026. Walt Brown Jr. and Robert Mayhew of Diversified Partners are leading the development team. Matt Pergola, Brandon Vasquez and Austin Payne of Diversified Partners CRE are handling brokerage services for the project.

November 20, 2025

Development Hospitality Loans Midwest Missouri

X Caliber Structures $285M in Construction Financing for Missouri Resort Development

by Kristin Harlow November 20, 2025

OSAGE BEACH, MO. — X Caliber Capital Holdings LLC has structured a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of the Oasis at Lakeport in Osage Beach. The resort and entertainment project has a total cost of $495 million. Plans call for a Marriott hotel with 402 rooms, a conference center, indoor waterpark, amusement park and various amenities. The $285 million financing consists of $220 million of conventional senior-secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC LLC, and $65 million of Commercial Property Assessed Clean Energy (C-PACE) financing through CastleGreen Finance. The financing marks X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. Rural PACE-X is a proprietary financing solution that provides high-leverage financing for ground-up construction projects in micro-rural areas. The C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance, according to X-Caliber. Gregg Delany, Ken Lorman and Gabe Mashaal of X-Caliber Advisors originated and structured the financing on behalf of Tegethoff Development Co. The project’s energy-efficiency design is estimated to save around $11 million in costs over the lifetime of the improvements. The Oasis at Lakeport is expected to …

November 20, 2025

Civic Development Midwest Minnesota

Kraus-Anderson Completes $24.1M Fire Station in Edina, Minnesota

by Kristin Harlow November 20, 2025

EDINA, MINN. — Kraus-Anderson Construction has completed a $24.1 million fire station in the Twin Cities suburb of Edina. The two-story project at 4401 W. 76th St. replaces the former facility on York Avenue. Designed by BKV Group, the 35,464-square-foot development also includes space for the Public Health Division. The fire station features an atrium and lobby, administration areas, training rooms, offices, conference rooms and a large apparatus bay for ambulances, fire and rescue vehicles as well as personal protective equipment storage. The building also features a physical conditioning room that is available to all city employees. The second floor houses dormitories, and the training tower rises five stories. Construction began in fall 2023.

November 20, 2025

Development Multifamily Northeast Pennsylvania

Federal Realty, CBG Begin Leasing 217-Unit Multifamily Redevelopment in Metro Philadelphia

by Taylor Williams November 20, 2025

BALA CYNWYD, PA. — Federal Realty Investment Trust (NYSE: FRT) and CBG Building Co. have begun leasing Blayr, a 217-unit multifamily redevelopment project in Bala Cynwyd, a northwestern suburb of Philadelphia. The project, which represents the second phase of a larger redevelopment known as Bala Cynwyd on City Avenue, is a conversion of the former 120,000-square-foot Lord & Taylor department store into an apartment complex with 16,000 square feet of ground-floor retail space. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include an outdoor pool, a golf and multisport simulator and a courtyard with grills and gathering spaces. Federal Realty received zoning approval for the project in February 2024, broke ground a few months later and topped off the project this spring. The first move-ins are scheduled for March.

November 20, 2025

Development Mixed-Use Texas

Hillwood Provides Updates on $10B Mixed-Use Development in Denton

by Taylor Williams November 19, 2025

DENTON, TEXAS — Hillwood, a Perot company and the owner of the 27,000-acre AllianceTexas master-planned community in North Fort Worth, has provided updates on Landmark, the company’s $10 billion mixed-use development in the North Texas city of Denton. Announced last summer, Landmark is a 3,200-acre development at the corner of I-35 and Robson Ranch Road — land that the Perot family has owned since 1987. At full build-out, Landmark will feature 6,000 single-family homes and 3,000 apartments. The development will also include 900 acres of commercial space that will be anchored by Denton’s first H-E-B grocery store. The first 120 acres are actively being leased for retail, dining and entertainment uses. The first phase of development will feature 747 single-family lots that will house a variety of home styles and will be constructed by an array of builders. The grocery store and 600 apartments will also be built as part of the initial phase, and the grocery-anchored retail component of the development is expected to open in 2027. In addition, roughly 1,100 acres of the development will be preserved as parkland, making it one of the largest natural preserves in Texas, according to Hillwood.

November 19, 2025

Development Industrial Texas

Creation, PGIM Begin Construction on 600,000 SF Industrial Project in North Dallas

by Taylor Williams November 19, 2025

DALLAS — Creation, a developer with offices in Dallas and Phoenix, and PGIM Real Estate have begun construction on 635 Exchange, a three-building, 600,000-square-foot industrial project in North Dallas. The 36-acre site at the intersection of interstates 35E and 635 formerly housed a City of Dallas landfill, and the new buildings will feature 32- to 36-foot clear heights. LGE Design Build is handling the architectural and general contracting aspects of the project. Stream Realty Partners has been tapped as the leasing agent. Completion is slated for late 2026.

November 19, 2025

Development Multifamily Texas

HPI Real Estate Breaks Ground on 396-Unit Multifamily Project in Northwest Fort Worth

by Taylor Williams November 19, 2025

FORT WORTH, TEXAS — HPI Real Estate Services & Investments has broken ground on a 396-unit multifamily project in northwest Fort Worth. The project represents Phase I of a larger development that will ultimately consist of 829 units on a 55-acre site at the southeast corner of Bonds Ranch and Blue Mound roads. Units will come in one-, two- and three-bedroom floor plans. Arch-Con Corp. is designing the project, and Blackland Partners is serving as the general contractor. The first units are expected to be available for occupancy in early 2027.

November 19, 2025

117-N.-Long-Beach-Road-Rockville-Centre-New-York

Development Industrial New York Northeast Self-Storage

Basis Industrial Receives $27M Construction Loan for Long Island Self-Storage Project

by Taylor Williams November 19, 2025

ROCKVILLE CENTRE, N.Y. — Florida-based development and investment firm Basis Industrial has received a $27 million construction loan for a self-storage project that will be located in the Long Island community of Rockville Centre. Public Storage will operate the facility, which will comprise 121,500 gross square feet of space across 957 units. NexBank is the senior lender on the project, and NexPoint is the mezzanine lender. Construction is underway and is expected to be complete in early 2027.

November 19, 2025

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