Development Archives - REBusinessOnline

Mark IV Capital Receives $86M Construction Loan for Metro Austin Mixed-Use Project

Taylor Williams — Fri, 27 Feb 2026 15:56:19 +0000

ROUND ROCK, TEXAS — California-based Mark IV Capital has received an $86 million construction loan for Phase I of The District, a mixed-use project that will be located in the northern Austin suburb of Round Rock. The site is adjacent to the headquarters campus of Dell, and Phase I of The District will feature a 316-unit apartment complex with 23,042 square feet of ground-floor retail and restaurant space. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, clubhouse lounge and outdoor entertainment spaces. Phase I will also include a 40,750-square-foot food-and-beverage plaza that will comprise six buildings with tenant spaces ranging in size from 1,500 to 11,750 square feet. Completion of Phase I is slated for early 2028. George Smith Partners arranged the financing through BDT & MSD Partners and an affiliate of global private equity firm Apollo.

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NewMark Merrill-Led Partnership to Develop 297,363 SF Retail Center in Victorville, California

Amy Works — Fri, 27 Feb 2026 14:13:09 +0000

VICTORVILLE, CALIF. — NewMark Merrill Cos., in partnership with World Premier Investments and R.Y. Properties, has received entitlements to develop Desert Sky Plaza II, a 30-acre shopping center at the southeast corner of Roy Rogers Drive and Amargosa Road in Victorville. NewMark Merrill is slated to break ground on the project in the second quarter of 2026 with the opening planned for fall 2027. Designed by Architects Orange and Kimley-Horn, Desert Sky Plaza II will be the second phase of the existing Desert Sky Plaza, which is anchored by The Home Depot. The new phase, anchored by Target and Burlington, will offer 297,363 square feet of retail space. Desert Sky Plaza is roughly 70 percent pre-committed but still has availability for tenants ranging from 1,500 square feet to 25,000 square feet. Greg Giacopuzzi and Darren Bovard of NewMark Merrill are overseeing leasing at the center.

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STRO, KRE to Develop 65,000 SF Industrial Project in Parsippany, New Jersey

Taylor Williams — Fri, 27 Feb 2026 14:12:10 +0000

PARSIPPANY, N.J. — A partnership between two New Jersey-based firms, The STRO Cos. and Kushner Real Estate (KRE) will develop a 65,000-square-foot industrial project in Parsippany, about 30 miles west of New York City. The building at 3 Century Drive will offer 36-foot clear heights, 10 dock doors, one drive-in door and divisibility to 32,000 square feet. Vertical construction is underway, and completion is slated for the fall. Resource Realty is the leasing agent.

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PEG Cos. Opens 168-Room AC Hotel Scottsdale Old Town in Arizona

Amy Works — Fri, 27 Feb 2026 14:10:20 +0000

SCOTTSDALE, ARIZ. — PEG Cos., as developer, co-owner and manager, has opened AC Hotel Scottsdale Old Town, a six-story AC Hotels by Marriott asset at 7117 E. 3rd Ave. in Scottsdale. The hotel features 168 guest rooms, the brand’s signature AC Lounge and AC Kitchen, a 24/7 fitness center, rooftop pool and purpose-designed meeting and event rooms. The property also features a three-level underground parking garage and pet-friendly accommodations for guests traveling with small dogs up to 50 pounds. Additionally, Cielito, a rooftop bar and restaurant developed in collaboration with The Wayfaring Group, features 70 seats.

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Walker & Dunlop Arranges $80M Loan for Multifamily Development on Miami’s Bay Harbor Islands

Abby Cox — Fri, 27 Feb 2026 14:07:13 +0000

MIAMI — Walker & Dunlop has arranged $80 million in construction financing for 10290 East Bay Harbor Drive, a luxury multifamily development on Bay Harbor Islands in Miami. Adam Schwartz, Jonathan Schwartz, Aaron Appel, Keith Kurland, Sean Reimer, Michael Diaz and Michael Ianno of Walker & Dunlop arranged the floating-rate, interest-only loan through New York-based Madison Realty Capital on behalf of the borrower, Clara Homes. 10290 East Bay Harbor Drive is the third apartment complex located within a three-phased master-planned development on Bay Harbor Islands. The six-story apartment building will total 250,000 square feet with 77 units, according to South Florida Business Journal, bringing Clara Homes to 150 luxury apartments on the Bay Harbor Islands. Amenities at the complex will include a rooftop swimming pool with panoramic views, fitness center and an outdoor yoga studio. 10290 East Bay Harbor Drive is also situated near Bal Harbour Shops, which is currently undergoing a $550 million redevelopment.

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JCCG Underway on 250-Unit Build-to-Rent Community in Loxley, Alabama

Abby Cox — Fri, 27 Feb 2026 14:04:26 +0000

LOXLEY, ALA. — Jim Chapman Construction Group (JCCG) is underway on the construction of The Cottages at Loxley, a 250-unit build-to-rent residential community located in Loxley, a city in Alabama’s Baldwin County. The firm broke ground on the project in January, with vertical construction slated to begin later this year. Situated on roughly 51 acres along I-10, The Cottages at Loxley will comprise single-family rental homes ranging in size from 1,000 to 1,493 square feet, featuring open-concept layouts and attached private garages. Planned amenities will include a clubhouse, swimming pool, fitness center, onsite property management and 24-hour emergency maintenance. The community is designated to serve families within the Baldwin County Public Schools system, including Loxley Elementary School, Central Baldwin Middle School and Robertsdale High School.

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Thompson Thrift to Develop 300-Unit Multifamily Community in Dacula, Georgia

Abby Cox — Fri, 27 Feb 2026 14:03:20 +0000

DACULA, GA. — Indiana-based Thompson Thrift will develop Lineage, a 300-unit multifamily project in Dacula, an Atlanta suburb in Gwinnett County. The development will be capitalized with equity from Thompson Thrift’s 2026 Multifamily Development LP fund, while PNC Bank will provide construction financing for the project. Lineage marks Thompson Thrift’s 100th multifamily community to be developed nationwide. Spanning nearly 15 acres at the Harbins Road and Ga. State Route 316 interchange, Lineage will comprise four-story buildings with one-, two- and three-bedroom floorplans. Select homes will feature private patio, balcony and yard options, as well as detached garages, high-speed internet access and an Amazon package hub. Amenities will include a golf simulator, swimming pool, fitness center, pickleball court, lounges, coworking and conference space, a dog park, pet spa, outdoor firepits and grilling areas, event space and landscaped courtyards. Additionally, more than 9,500 square feet of street-level retail space will be designed with outdoor seating, “play” space and a designated area for outdoor concerts.

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UM-Board of Regents Approves $143M Behavioral Health, Ambulatory Surgery Centers in Lansing

Kristin Harlow — Fri, 27 Feb 2026 14:02:12 +0000

LANSING, MICH. — The University of Michigan Board of Regents has approved two projects for mental health resources and certain surgical procedures in mid-Michigan. UM Health-Sparrow is building a behavioral health hospital and an ambulatory surgery center in Lansing. Groundbreakings are scheduled this summer, with plans to open each facility in 2028. The behavioral health hospital will be located in a park-like setting. The building is slated for vacant UM Health-Sparrow-owned property behind the Lansing hospital near Pennsylvania Avenue and Jerome Street. The 64-bed, $83 million facility will serve adult, geriatric, child and adolescent patients. UM-Health is collaborating with Sheppard Pratt, the nation’s largest private, nonprofit provider of behavioral health/substance abuse services, to manage the new hospital and behavioral health services. The $60 million UM Health-Sparrow Lansing Ambulatory Surgery Center will be located west of the Lansing hospital near Michigan and Pennsylvania avenues. The outpatient facility will feature four operating rooms at the start, with options to expand. The new surgery center will care for patients currently undergoing procedures at the 100-year-old St. Lawrence campus and will handle some cases currently performed at the Lansing hospital. Cardiac patients will also benefit from a new MRI planned for the facility.

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Maverick, American Mortgage Arrange Construction Financing for $26M Condo Project in Indiana

Kristin Harlow — Fri, 27 Feb 2026 14:01:06 +0000

BLOOMINGTON, IND. — Maverick Commercial Mortgage and American Mortgage & Realty have arranged construction financing for ONE15 Lofts on Kirkwood, a $26 million condominium project in Bloomington. First Farmers Bank & Trust provided the 36-month loan, which features interest-only payments. Construction is underway on the project, which is developed by Randy Lloyd of Clearpath Services. The development site at 115 E. Kirkwood Ave. was formerly a surface parking lot adjacent to CVS and directly across from the historic Buskirk-Chumley Theater. The five-story project will feature 17 luxury condominiums, 90 percent of which are pre-sold. Units will range from 1,600 to over 4,000 square feet. The first two floors will feature a new restaurant concept by Cassady’s, the owners of Uptown Café. The project team includes Kunkel Design Group, Genesis Build and interior designer Lindsay Taylor Bell. Kerry Feigenbaum of FC Tucker/Bloomington Realtors is handling residential sales. Completion is slated for 2027.

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MP Materials Selects AllianceTexas for $1.3B Rare Earth Magnet Manufacturing Site

Abby Cox — Fri, 27 Feb 2026 12:45:00 +0000

NORTHLAKE, TEXAS — MP Materials (NYSE: MP), the leading American producer of rare earth materials and permanent magnets, has selected Northlake for its new $1.3 billion rare earth magnet manufacturing campus. CBRE arranged the sale of the site, which is situated within the 27,000-acre AllianceTexas master-planned development in the Dallas-Fort Worth metroplex, on behalf of the developer, Hillwood. The new site, dubbed “10X,” is expected to serve as the center of the United States’ rare earth magnet supply chain. It is located less than 10 miles from MP’s existing “Independence” facility in Fort Worth, which began commercial production in 2025 as a 250,000-square-foot downstream center for rare earth metal, alloy and magnet production. 10X is the result of MP Materials’ previously announced public-private partnership with the U.S. Department of War (DoW), which was established in July 2025 to accelerate U.S. rare earth magnet independence, according to the company’s press release. The DoW holds a 15 percent stake in the company. “10X is about building industrial strength at a scale the United States has not seen in generations, and the exceptional talent and infrastructure in North Texas make it possible,” says James Litinsky, founder, chairman and CEO of MP Materials. “We are advancing key objectives…

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New York Life Taps Jamestown to Pursue NHL Stadium for North Point Mall Redevelopment in Metro Atlanta

Hayden Spiess — Thu, 26 Feb 2026 17:41:47 +0000

ALPHARETTA, GA. — New York Life Insurance Co. is underway on plans to redevelop North Point Mall in Alpharetta, a suburb roughly 30 miles north of Atlanta. Jamestown has been tapped by New York Life to pursue the redevelopment entitlements for the development. The Atlanta-based firm, which manages the nearby Avalon mixed-use development following its acquisition of the Atlanta-based holdings and listings of North American Properties in 2024, will also oversee property management for North Point Mall effective March 1. Plans for the project include transforming the mall into a sports-anchored, mixed-use entertainment district. The redevelopment will position the 100-acre property to potentially host a National Hockey League (NHL) franchise expansion into the Atlanta metro area. “We think this is a great location for an NHL team and, hopefully, our efforts will attract an owner who wants to acquire an expansion team and bring hockey back to Atlanta,” says Tim Perry, chief investment officer at Jamestown. “The site is well-positioned for redevelopment and to accommodate event and game day traffic associated with an NHL hockey arena.” Machete Group, a Houston-based advisory firm specializing in developing and operating sports venues, will partner with Jamestown to guide the redevelopment. “We’re looking forward to…

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Dude Perfect Opens 80,000 SF Headquarters, Entertainment Facility in Frisco

Taylor Williams — Thu, 26 Feb 2026 15:28:27 +0000

FRISCO, TEXAS — Sports and comedy entertainment group Dude Perfect has opened an 80,000-square-foot headquarters and entertainment facility in Frisco. Known as DPHQ3 and designed by Alliance Architects in conjunction with Tangram Interiors and Studio Other, the space features private offices, open desking areas, a café, lounges, phone booths and communal hubs. In addition, the facility doubles as an athletic playground via an NBA-sized basketball court, 45-yard turf field and a golf simulator. Founded in 2009 by five Texas A&M University graduates, Dude Perfect first began exploring plans for such a facility in North Texas in 2022.

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Morgan, Casto Net Lease Buy Land in Southeast Florida, Plan Aldi-Anchored Shopping Center

John Nelson — Thu, 26 Feb 2026 14:45:28 +0000

PORT ST. LUCIE, FLA. — A partnership between Morgan Co. and Casto Net Lease has acquired 15 acres in Port St. Lucie, a city in southeast Florida’s St. Lucie County. The duo plans to develop a new shopping center anchored by Aldi on the site. The center will also include outparcels designated for McDonald’s, Circle K and AutoZone, as well as outparcels that are currently available for sale or lease. Scott Copeland of On Course Development represented Morgan and Casto Net Lease in the land deal. The seller and sales price were not disclosed. The buyers plan to break ground on the shopping center before the end of the year and deliver the property in 2027.

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Primestor Development, DLR Group Break Ground on The Walk Mixed-Use Project in Norwalk, California

Amy Works — Thu, 26 Feb 2026 14:12:15 +0000

NORWALK, CALIF. — Primestor Development and DLR Group have broken ground on The Walk, a community-serving mixed-use village in Norwalk. Located adjacent to Norwalk City Hall, The Walk will feature 89,000 square feet of retail buildings and public open space, including a network of interconnected plazas and pedestrian pathways. DLG Group is providing architectural and planning design services for the project, which is slated for completion in late 2027.

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Banco Inbursa Provides $150M Construction Loan for South Philadelphia Multifamily Project

Taylor Williams — Thu, 26 Feb 2026 13:39:47 +0000

PHILADELPHIA — Banco Inbursa has provided a $150 million senior construction loan for a multifamily project that will be located within Wharton Piers, a mixed-use waterfront development in South Philadelphia. The project will consist of a 36-story residential building and a single-story commercial building for a total of 620 market-rate apartments and 30,800 square feet of retail space. The borrower/developer is New York City-based Brevet Capital. Construction is expected to begin in early 2027, with leasing to commence in the fourth quarter of 2028. Full completion is slated for the first quarter of 2029.

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CBRE Arranges $40M Construction Loan for Northern New Jersey Multifamily Project

Taylor Williams — Thu, 26 Feb 2026 13:32:35 +0000

MORRISTOWN, N.J. — CBRE has arranged a $40 million construction loan for an 89-unit multifamily project that will be located in the Northern New Jersey community of Morristown. Known as Morristown Station, the development will comprise 76 market-rate apartments and 13 affordable housing units, mostly in two-bedroom floor plans, as well as 5,111 square feet of retail space. Matthew Pizzolato and Josh Stein of CBRE arranged the loan through Truist Bank on behalf of the owner, an entity doing business as Lackawanna Place Morristown Urban Renewal LLC.

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Green Point Underway on Phase I of 200-Acre Industrial Project in El Paso

Taylor Williams — Wed, 25 Feb 2026 16:19:46 +0000

EL PASO, TEXAS — Dallas-based development and investment firm Green Point Property Co. is underway on construction of Sky Park El Paso, a 200-acre industrial project. Phase I will consist of two buildings: a 443,975-square-foot, cross-dock warehouse/flex building and an adjacent 192,490-square-foot, rear-load building. Project partners include Silverado Interests (equity partner), Stellar Bank (construction lender), Ridgemont Commercial Construction (general contractor) and CBRE (leasing agent). Phase I is expected to be substantially complete before the end of the year.

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Harbert South Bay to Develop 162-Unit Seniors Housing Project in Dallas

Taylor Williams — Wed, 25 Feb 2026 16:09:01 +0000

DALLAS — Harbert South Bay will develop The Marianne on Inwood, a 162-unit seniors housing project in Dallas. The site is adjacent to the Highland Park area, and the 294,000-square-foot facility will offer independent living, assisted living and memory care residences. Amenities will include multiple dining venues, indoor and outdoor pools, a gym, hair salon, media lounge and a golf simulator. Project partners include Arcadis (architect), Bozzuto Construction (general contractor) and Momentum Senior Living (operator). Construction will begin in the coming weeks, and completion is scheduled for 2027.

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Rockefeller Unveils Alina Apartments at 1072 West Peachtree in Midtown Atlanta

John Nelson — Wed, 25 Feb 2026 15:56:48 +0000

ATLANTA — Rockefeller Group has unveiled plans for Alina, a 357-unit apartment community within the 1072 West Peachtree mixed-use tower in Midtown Atlanta. At 749 feet, the 60-story tower will be the tallest new building to be built in the city in the past three decades, according to Rockefeller. Alina will feature a mix of studio, one-, two- and three-bedroom apartments, as well as penthouse units that feature private parking spaces. Alina’s residents will have access to an acre of indoor and outdoor amenity spaces, including a resort-style pool, pickleball court, dog run on the 20th floor, indoor Yoga and Pilates studio, private training studio and a clubroom with two fireplace lounges, billiards, shuffleboard, an entertaining kitchen, golf simulator and an indoor/outdoor porch lounge. The property will also feature The Pavilion at 1072, which is billed as the largest outdoor deck in Midtown Atlanta. The 1072 West Peachtree tower will also include 224,000 square feet of Class A offices below the apartments and 6,300 square feet of ground-level retail space. Bozzuto will lead leasing efforts for Alina, which is expected to begin in the second quarter. Rockefeller expects to deliver the tower this spring.

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Partnership Buys 6,000 SF Retail Building in Austin, Plans Redevelopment

Taylor Williams — Wed, 25 Feb 2026 15:52:00 +0000

AUSTIN, TEXAS — A partnership between two investment firms, Austin-based Fortum and Denver-based Quannah Partners, has purchased a roughly 6,000-square-foot retail building in Austin with plans to implement a redevelopment. According to LoopNet Inc., the building at 1612 S. Congress Ave., which is located just south of downtown, was originally constructed in 1935. Ownership plans to undertake both an adaptive reuse of the existing structure and an expansion to bring the building’s footprint to roughly 10,700 square feet.

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