REBusinessOnline

Stonelake Capital to Build 200,000 SF Spec Office Project in Houston

HOUSTON — Stonelake Capital Partners, a real estate private equity firm with offices in Dallas, Houston and Austin, will build a 200,000-square-foot speculative office project located at 4200 Westheimer Road in the River Oaks/Highland Village area of Houston. Stonelake expects to break ground on the 15-story, Class A property, which is part of Phase III of the company’s Park Place | River Oaks mixed-use development, in January 2019. The office space is expected to be available for occupancy …

Development, Office, Texas

Hunt Capital Partners, UHC Close $39M in Financing for Affordable Housing Development in Hawaii

KIHEI, HAWAII — Hunt Capital Partners, in partnership with Urban Housing Communities (UHC), has closed $26 million in federal low-income housing tax credit (LIHTC) equity and $12.9 million in Hawaii state tax credit equity financing for the construction of Kaiwahine Village in Kihei. This is the fourth partnership in Hawaii for Hunt Capital Partners and UHC. Located on the island of Maui, Kaiwahine Village will feature 118 affordable housing units for families earning up to 30, 40 and 60 …

Development, Hawaii, Loans, Multifamily, Western

Alliance Residential Opens 251-Unit Apartment Community in Atlanta’s West Midtown District

ATLANTA — Phoenix-based Alliance Residential Co. has opened Broadstone Yards, a 251-unit apartment community located at 1084 Howell Mill Road N.W. in Atlanta’s West Midtown district. The community includes a mix of studio, one- and two-bedroom units with stainless steel appliances, gas-powered stoves, French-door refrigerators and built-in wine coolers in select units. Community amenities include coworking space; a conference room with video capability; fitness center with a Peloton bike, …

Development, Georgia, Multifamily, Southeast

Paces Properties Signs Three Taverns Brewery to Atlanta Dairies Redevelopment

ATLANTA — Atlanta-based Paces Properties has signed Three Taverns Brewery to its Atlanta Dairies redevelopment, a planned mixed-use project in East Atlanta’s Reynoldstown neighborhood. The new brewery, dubbed Imaginarium, is set to open in summer 2019. The new location is an extension of Three Tavern’s flagship brewery in nearby Decatur. Imaginarium will serve four to five of Three Tavern’s core beers on tap, as well as a rotating list of 20 to 25 experimental beers. New brews will …

Development, Georgia, Leasing Activity, Retail, Southeast

Propper Construction Services Completes $29M Apartment Project in St. Louis

ST. LOUIS — Developer Propper Construction Services has completed the 1400 Russell Apartments in the Soulard neighborhood of St. Louis. The 130-unit apartment property is located on the site of a former warehouse. Amenities include a rooftop pool, lounge, courtyard, fitness center, business center and concierge services. Monthly rents range from $965 to $3,070. More than 40 percent of the units are leased. Trivers Associates Architects designed the property and Paric Corp. was the general …

Development, Midwest, Missouri, Multifamily

Gilbane Announces Two New Student Housing Developments in Arizona, Oregon

TEMPE, ARIZ., AND CORVALLIS, ORE. — Providence, R.I.-based Gilbane Development Co. has announced the launch of two new developments in Arizona and Oregon as part of five recently announced projects across the United States. The five properties total over 3,500 beds, with project costs valued at more than $400 million. In Tempe, Ariz., Gilbane is developing Alor, a three-building, purpose-built student housing and market-rate/workforce housing property. Situated 1,000 feet from Arizona …

Arizona, Development, Multifamily, Oregon, Student Housing, Western

Opus Begins Construction of 256-Unit Apartment Complex in Kansas City

KANSAS CITY, MO. — The Opus Group has begun construction on a 256-unit apartment complex in the Westport neighborhood of Kansas City. The development, located at the corner of Westport Road and Broadway Boulevard, will also include 10,000 square feet of ground-level retail space. An array of amenities will feature a pool, fitness center, dog wash station, lounge areas, conference rooms and bike storage. The project is slated for completion in spring 2020. Additional project partners include …

Development, Midwest, Missouri, Multifamily

Bystronic Breaks Ground on 162,875 SF Headquarters in Hoffman Estates, Illinois

HOFFMAN ESTATES, ILL. — Bystronic has broken ground on its new experience center and U.S. corporate headquarters in Hoffman Estates. The 162,875-square-foot facility will feature a showroom as well as serve as the hub for the company’s U.S. business operations, including sales, service, spare parts and the refurbishing of used machines. Completion is slated for summer 2019. Bystronic, a provider of solutions for the sheet metal processing business, currently operates out of Elgin. Jeff …

Development, Illinois, Midwest, Office

Kraus-Anderson Completes Construction of $50M Middle School in Cottage Grove, Minnesota

COTTAGE GROVE, MINN. — Kraus-Anderson has completed the construction of Oltman Middle School in Cottage Grove. The $50 million school opened to students this month and replaces the former school in St. Paul Park. The facility can currently accommodate as many as 1,100 students in grades 6-8 with future expansion capabilities for as many as 1,450 students. Each grade level is housed in its own two-story section of the building. Designed by architects Rego + Youngquist, the 188,000-square-foot …

Civic, Development, Midwest, Minnesota

VanTrust to Develop 210,000 SF Spec Office Project in Frisco

FRISCO, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop The Offices Two at Frisco Station, a 210,000-square-foot speculative office project in Frisco. Construction of the six-story building, which will be located adjacent to The Star, will begin later this month with completion slated for September 2019. Amenities will include structured parking, a fitness center, conference center and tenant lounge. HKS Inc. is serving as project architect, Manhattan Construction is the …

Development, Office, Texas

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