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The-Perennial-Queens
Affordable HousingDevelopmentMultifamilyNew YorkNortheastSeniors Housing

Foxy Development, Selfhelp Realty Break Ground on $150M Affordable Housing Project in Queens

by Taylor Williams

NEW YORK CITY — A partnership between two local owner-operators, Foxy Development and Selfhelp Realty Group, has broken ground on The Perennial, a $150 million affordable housing project that will be located in the Forest Hills neighborhood of Queens. The project is a conversion of the former Parkway Hospital building, which has been shuttered since 2008. Of the 145 total units, 124 will be senior units, 44 residences within which will be reserved for formerly homeless individuals. The remaining apartments will be family units. All residences will be reserved for households earning 50 percent or less of the area median income. Project partners include architect Newman Design, Cityscape Engineering, Suffolk Construction and MEP engineer Mottola Rini. TD Bank provided construction financing for the project, and The Community Preservation Corp. will provide permanent financing. Construction is expected to be complete in late 2027.

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DevelopmentGeorgiaMixed-UseRestaurantRetailSoutheast

Atlantic Residential Gives Update on 47,000 SF Retail Plaza at Crossing at Coal Mountain in Metro Atlanta

by John Nelson

CUMMING, GA. — Atlantic Residential has made progress on Phase I of the retail plaza at The Crossing at Coal Mountain, a 140-acre mixed-use development underway in Cumming, a northern suburb of Atlanta. The project sits in the Coal Mountain region of north Forsyth County and will feature apartments, retail space and for-sale homes being developed in partnership with Toll Brothers. Atlantic Residential broke ground in July on the 47,000 square feet of shops, restaurants and entertainment space at the development, with plans to complete construction in summer 2026. Food-and-beverage concepts at The Crossing at Coal Mountain will make up 60 percent of the retail offerings, while the remaining 40 percent will include soft goods and services such as spas, salons, fitness concepts and a 20,000-square-foot pad ideal for a small-format grocery or market anchor, as well as other service-based businesses. Atlantic Residential has selected Jennifer Steffen and Matt Maloney of JLL to handle the retail leasing assignment at the development. Construction progress to date includes framing of the project’s mixed-use building up to its fifth level, two of the multifamily buildings and installation of roads and infrastructure.

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Affordable HousingDevelopmentGeorgiaSeniors HousingSoutheast

Columbia Residential Completes $35M Redevelopment of Affordable Seniors Housing Community in Atlanta

by John Nelson

ATLANTA — Locally based Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta. Originally built in the 1970s, the newly reopened property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income (AMI). Rents are capped at 30 percent of household income through project-based vouchers. Financing for the redevelopment included $12.4 million in equity from Truist Community Capital via 9 percent low-income housing tax credits (LIHTC) allocated by the Georgia Department of Community Affairs; a $10.5 million construction-to-permanent loan from Atlanta Housing; an $8 million construction loan and $5.6 million permanent mortgage from Truist Bank; $4 million in National Housing Trust Funds from the Georgia Department of Community Affairs; $1 million in housing opportunity bond financing from Invest Atlanta, the City of Atlanta’s economic development agency; a $1 million seller note from Atlanta Housing; and $400,000 in deferred developer fees by Columbia Residential. Dash & Dwell coordinated resident relocations during construction, and a partnership with Matter Health now provides …

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Alta-87-Gilbert-AZ
ArizonaDevelopmentMultifamilyWestern

Wood Partners Opens Alta 87 Apartment Complex in Metro Phoenix

by Amy Works

GILBERT, ARIZ. — Wood Partners has opened Alta 87 in Gilbert, a southeastern suburb of Phoenix located about 23 miles from downtown. Alta 87 is a 257-unit development comprised of one-, two- and three-bedroom units. Amenities include two pickleball courts, electric vehicle charging stations, a pool and hot tub and a two-story clubhouse with a fitness center,  coworking spaces, a speakeasy and bike storage. The developer broke ground in March 2024. Atlanta-based Wood Partners completed three other Alta-branded communities in Phoenix in 2024: Alta Avondale, Alta Rise and Alta Uptown.

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DevelopmentMichiganMidwestMultifamilyStudent Housing

Subtext Opens 741-Bed VERVE Ann Arbor Student Housing Community at University of Michigan

by Kristin Harlow

ANN ARBOR, MICH. — Subtext has opened VERVE Ann Arbor, a 12-story, 741-bed student housing development near the University of Michigan. Located at 721 S. Forest St., the 328,264-square-foot project includes 217 units ranging from studios to six-bedroom layouts. The property also features a ground-level, full-service lobby coffee shop operated by local favorite, Misfit Society Coffee Club. Additional amenities include a rooftop with a pool deck, hot tub, outdoor kitchen, grilling stations, jumbotron and yard games. Residents have access to a penthouse clubroom, two-story fitness center, yoga studio, private conference rooms, a dog park, electric package locker, bike storage and electric vehicle charging stations. Subtext developed the property in partnership with FrontRange Capital and Kayne Anderson Real Estate. A syndicate of lenders led by Webster Bank structured the financing. WDG Architecture led the design, and ESG Architecture & Design handled the interiors. Brinkmann Constructors was the general contractor.

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DevelopmentIndustrialMidwestMinnesota

Zenith IOS Completes 40,000 SF Cold Storage Build-to-Suit for Kemps in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Zenith Industrial Outdoor Storage (IOS) has completed a cold storage build-to-suit for Kemps, a farmer-owned brand of Dairy Farmers of America. Kemps signed a 15-year lease for the property in Minneapolis. Zenith acquired the 11-acre site, formerly home to a heavy industrial metal recycling business, in June 2022. In conjunction with Bainey & Co. as general contractor, Zenith converted the property into a 40,000-square-foot cold storage and dairy distribution hub. Kemps traces its Minneapolis roots back to 1914, when William Kemps and Walter Lathrop founded the Lathrop-Kemps Ice Cream Co. at 222 Fifth St. Now based in St. Paul, Kemps maintains approximately 1,000 employees and is a producer of milk and other dairy products. The company currently operates seven manufacturing facilities in Minnesota, Wisconsin, Iowa, Illinois and Indiana. The new cold storage distribution site will also support the company’s bottling facility, located roughly one mile away. CBRE is currently marketing the southern parcel of the site for sale. It includes a 22,000-square-foot warehouse on the remaining 3 acres of land.

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Eli Lilly Virginia Facility
DevelopmentLife SciencesTop StoriesVirginia

Eli Lilly Announces Plans for $5B Pharmaceutical Manufacturing Facility Near Richmond, Virginia

by Hayden Spiess

GOOCHLAND COUNTY, VA. — Pharmaceutical giant Eli Lilly and Co. (NYSE: LLY) has announced plans for a $5 billion manufacturing facility located in Goochland County, which is situated west of Richmond. Earlier this year, Indianapolis-based Eli Lilly shared plans to build four new pharmaceutical manufacturing plants. The Virginia facility is the first of the four to be formally announced. Since 2020, the company has invested $50 billion in capital expansion commitments.  When finished, the development will mark the company’s first dedicated, fully integrated active pharmaceutical ingredient (API) and drug product facility for its bioconjugate platform and monoclonal antibody portfolio, which create ingredients for the treatment of cancer and autoimmune diseases.  Completion of the facility is scheduled within the next five years. According to Eli Lilly, the project will create more than 650 permanent jobs in the area, in addition to 1,800 construction jobs. The company projects that for each dollar invested in the development, up to $4 of local economic activity will be generated.  Goochland County was selected as the site for the new facility out of hundreds of applications.  Plans for the facility include the use of technologies including machine learning, AI and automated systems. To implement these technologies, …

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StreetLights-Residential-The-Mix-Frisco
DevelopmentMultifamilyTexas

StreetLights Residential Begins Construction on 635-Unit Multifamily Project at The Mix in Frisco

by Taylor Williams

FRISCO, TEXAS — Locally based developer StreetLights Residential has begun construction on a 635-unit multifamily project within The Mix, a 112-acre mixed-use development located north of Dallas in Frisco. Designed by Torti Gallas + Partners, the property will offer one-, two- and three-bedroom units that will be furnished with screened balconies, smart locks, thermostats and dimmable lights and wine refrigerators. Amenities will include coworking lounges, pet wash stations, game rooms, gathering spaces, rooftop terraces and resort-style pools. Completion is slated for fall 2027.

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DevelopmentOfficeTexas

Benchmark Houston Builders Breaks Ground on 30,000 SF Office Headquarters Project

by Taylor Williams

HOUSTON — General contractor Benchmark Houston Builders has broken ground on a 30,000-square-foot office headquarters project within East River, Midway’s 150-acre mixed-use development. The project is a build-to-suit for the U.S. subsidiary of Australian firm Anton Paar USA, which provides laboratory instruments and measuring systems. Powers Brown Architecture is designing the space. Completion is slated for next summer.

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DevelopmentGeorgiaIndustrialSoutheast

Rivian Holds Groundbreaking Ceremony for $5B Electric Vehicle Plant Near Social Circle, Georgia

by John Nelson

SOCIAL CIRCLE, GA. — Electric vehicle manufacturer Rivian held a groundbreaking ceremony for its $5 billion plant near Social Circle, about 44 miles east of Atlanta via I-20. The project will be situated within the 1,600-acre Stanton Springs North master-planned community. Construction is expected to begin in 2026 with customer vehicle production for the midsize, five-seater R2 SUV and R3 crossover anticipated to start in 2028. Rivian plans to develop the plant in two phases, each resulting in 200,000 units of annual capacity. The plant is expected to create 7,500 direct jobs and 8,000 indirect jobs by 2030, as well as 2,000 construction jobs, according to an analysis conducted by IMPLAN. Rivian received financing from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program for the manufacturing facility. The groundbreaking ceremony comes on the heels of Rivian announcing its decision to locate its East Coast headquarters at Junction Krog Street in Atlanta’s Inman Park district.

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