Development Archives - REBusinessOnline

Craig International Unveils Plans for $200M Mixed-Use Redevelopment in McKinney, Texas

Taylor Williams — Tue, 09 Jun 2026 15:22:16 +0000

MCKINNEY, TEXAS — Local developer Craig International has unveiled plans for Rowlett Station, a $200 million mixed-use redevelopment project in McKinney, a northern suburb of Dallas. The project involves the 58-acre former office campus of Globe Life, which served as the insurance company’s longtime headquarters prior to its relocation to the nearby building at 7677 Henneman Way. Preliminary plans for Rowlett Station call for multifamily, office and retail components, as well as network of walking and biking trails. Additional details on project partners and construction timelines will be announced in the coming months.

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NAI Earle Furman Negotiates Sale of 425 Acres in Upstate South Carolina for $1.2B USA Rare Earth Manufacturing Plant

John Nelson — Tue, 09 Jun 2026 14:14:37 +0000

BLACKSBURG, S.C. — NAI Earle Furman has negotiated the sale of approximately 425 acres located at 998 Blacksburg Highway in Blacksburg, a city in Upstate South Carolina’s Cherokee County. Brian Hammond, Scout Hammond, Richard Heatly and Alec Moncini of NAI Earle Furman represented the unnamed land seller in the transaction. Situated within Bailey Industrial Park, the site will serve as the future home of a $1.2 billion magnet and refined metals manufacturing plant for USA Rare Earth Inc., a publicly traded leader in rare earths, minerals and advanced materials manufacturing and refinement. The project is the first facility in South Carolina for the manufacturer, which plans to create 490 jobs with the development at full build-out. Engineering work and equipment procurement for the Blacksburg facility is underway, with site work expected to commence in the coming months and commissioning targeted to begin in 2028. The facility will support USA Rare Earth’s magnet manufacturing campus in Stillwater, Okla., and its processing sites in Colorado and Texas.

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Diversified Partners Acquires Site for 100,000 SF Mixed-Use Project in Scottsdale, Arizona

Amy Works — Tue, 09 Jun 2026 13:14:26 +0000

SCOTTSDALE, ARIZ. — Diversified Partners has closed on a waterfront property in Scottsdale that will become The Lakefront at Scottsdale, a mixed-use redevelopment. The project will revitalize a landmark waterfront site in Scottsdale, transforming a long-established location into a destination for dining, retail and gathering spaces. The 100,000-square-foot property will be redeveloped in phases offering restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation. Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to serve the needs of the Scottsdale community. The Lakefront at Scottsdale will feature signature restaurants with outdoor dining overlooking the lake, boutique and experiential retail concepts, luxury wellness and lifestyle tenants and Class A office space with waterfront views, as well as a small marina with Duffy boat rentals. Construction is slated to start in third-quarter 2026 with the first phase focused on demolition and development of the restaurant and retail components. The second phase scheduled to begin in early 2027 and focus on the redevelopment of the remaining retail and office portions.

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Bluhm Family Foundation Breaks Ground on 214-Unit Seniors Housing Community in Huntington Beach, California

Amy Works — Tue, 09 Jun 2026 13:13:18 +0000

HUNTINGTON BEACH, CALIF. — The Bluhm Family Foundation has broken ground on The Marisol, a 214-unit luxury seniors housing project located in Huntington Beach in Southern California. In May, the developer received $252.1 million in bond financing for the project. Upon completion, the community will feature a mix of studio, one- and two-bedroom apartments. Amenities will include a coffee and snack bar, community store, wellness lounge, pool, spa, beauty salon, golf simulator, gym, art studio, craft studio, community room and three courtyards. The opening is scheduled for 2028. Momentum Senior Living will manage the community.

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Range Group Nears Completion of 72-Unit Luxury Apartment Building in Chicago

Kristin Harlow — Tue, 09 Jun 2026 13:05:31 +0000

CHICAGO — Range Group is nearing completion of 465 Carpenter, a 72-unit luxury apartment building on the border of Chicago’s Fulton Market and West Town neighborhoods. Floor plans will consist of studio, convertible, one- and two-bedroom units, and amenities at the five-story boutique property will include a rooftop deck, fitness studio, coworking lounge and pet wash. Cross Street, which is marketing and leasing the building, has begun hard-hat tours with prospective residents ahead of an expected July move-in.

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How Developers Can Prioritize Successful Adaptive Reuse Lending Relationships

Taylor Williams — Tue, 09 Jun 2026 12:00:00 +0000

By John Garrett of Enterprise Bank & Trust Driven by an ongoing shift in demand and industry-specific needs from commercial real estate space, adaptive reuse projects can transform existing underutilized buildings into new and more functional spaces. Offices and retail properties can be reimagined for shared or added functionality, or in some cases, reconfigured for entirely different purposes, including residential use. These projects allow developers to capitalize on opportunistic investment into value-add acquisitions, as well as tenant-driven opportunities. However, the size of these transitional, sub-institutional development projects creates a unique financial challenge. Many traditional lenders see these as too small and risky, with an aversion to arranging moving pieces to creatively manage tailored financing solutions that are needed to acquire and alter spaces for new opportunities. Transitional development projects don’t involve stabilized properties. Instead, the opportunity lies in repositioning the space to add value, which often means limited cash flow for an interim period while needing immediate access to funds. Creating efficient and flexible banking partnerships can allow real estate developers that are interested in pursuing these projects to scale business in a manner that helps meet a growing demand. How Lending Can Differ Both the complexity and varying size…

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Skanska Completes 250,000 SF Academic Project at University of Texas at Tyler

Taylor Williams — Mon, 08 Jun 2026 15:05:06 +0000

TYLER, TEXAS — International development and construction company Skanska has completed a 250,000-square-foot academic project in Tyler, about 100 miles east of Dallas. The five-story building is the new medical school for the University of Texas at Tyler and houses classrooms and advanced teaching laboratories, as well as spaces for both collaborative and hands-on training. The project also includes a seven-story parking garage with an integrated facilities office and a skybridge connecting the new medical school to the existing hospital. HGR General Contractors handled construction of the project.

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PEG Cos. Nears Completion of 220-Room Dual‑Branded Hotel in Irving’s Las Colinas District

Taylor Williams — Mon, 08 Jun 2026 14:59:27 +0000

IRVING, TEXAS — PEG Cos., a Utah-based developer, is nearing completion of a 220-room dual-branded hotel in Irving’s Las Colinas district. The five-story building houses rooms under the Residence Inn and Courtyard by Marriott brands and offers shared amenities such as a pool, fitness center, 24-hour market, custom bistro and bar and three private meeting spaces. Mayse & Associates designed the property, and Muckleroy & Falls served as the general contractor. The opening is set for July.

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JLL Arranges $70M in Bridge Financing for Delaware Industrial Building

Taylor Williams — Mon, 08 Jun 2026 14:34:01 +0000

CLAYMONT, DEL. — JLL has arranged $70 million in bridge financing for Tri-State Distribution Center, a 525,000-square-foot industrial building located about 25 miles outside of Philadelphia in Claymont, Delaware. The property features a clear height of 40-feet, an ESFR sprinkler system, 130-foot truck court depths, four drive-in ramps with overhead doors and “ample” trailer and car parking allotments. Construction began in August 2023. Michael Pagniucci, Chad Orcutt, Chris Drew, Ethan Rodgers and Michelle Morgenstern of JLL arranged the debt through Chicago-based Pearlmark on behalf of the owner, a joint venture between New York City-based KPR Centers LLC and Los Angeles-based PCCP LLC.

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Hyatt Opens 104-Room Livingston Hotel in Brooklyn

Taylor Williams — Mon, 08 Jun 2026 14:20:02 +0000

NEW YORK CITY — Hyatt Hotels Corp. has opened The Livingston, a 104-room hotel in Brooklyn’s Boerum Hill neighborhood that is part of the Chicago-based hospitality giant’s JdV by Hyatt collection of brands. The pet-friendly hotel offers a range of accommodations, including suites and 15 rooms with private balconies. Amenities include a rooftop terrace and multiple onsite food-and-beverage options. A partnership between St. Louis-based Midas Hospitality and ACRES Capital developed The Livingston.

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Sunbeam, Stiles Begin Construction on $1B Waterfront Mixed-Use Development in Broward County

Abby Cox — Mon, 08 Jun 2026 14:01:52 +0000

MIRAMAR, FLA. — Private real estate development and management company Sunbeam and Fort Lauderdale-based developer Stiles have broken ground on Miramar Cove, a $1 billion, waterfront mixed-use development in Miramar, a city in South Florida’s Broward County. Miramar Cove is slated to open in the fourth quarter of 2028. At full build-out, Miramar Cove will deliver 2,874 contemporary-style homes; 400,000 square feet of retail space with a 35,000-square-foot grocer; 125,000 square feet of office space; and a 185-room hotel. A 5.5-acre water basin will serve as the heart of the property, along with dining, entertainment and gathering spaces that will be programmed for daily and evening activation. The development will also include a public entertainment district and a beach club exclusive for Miramar Cove residents. In addition, Miramar Cove will offer five miles of walking paths connecting the entire site, complemented by Founders Park’s 10-acre green space and The Estuary’s 25 acres of natural trails. The 125-acre property sits adjacent to Sunbeam’s Miramar Park of Commerce, a 5 million-square-foot corporate campus.

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Rockefeller, Matan Break Ground on 1 MSF Distribution Center at Port 460 in Suffolk, Virginia

Abby Cox — Mon, 08 Jun 2026 14:00:33 +0000

SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on Building 3 at Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The third building will be completed in the first quarter of 2027 and will span a little more than 1 million square feet, making it the largest building within the master-planned industrial park. Buildings 1 and 2, which measure 339,150 square feet and 246,490 square feet, respectively, are completed and ready for lease or sale. In a joint venture partnership with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC, Rockefeller and Matan will deliver 2.4 million square feet of industrial space across five buildings in Phase I of Port 460 Logistics Center. A second phase totaling 2.7 million square feet will follow. Rockefeller and Matan broke ground on Port 460 in September 2024. Brian Devlin, Todd Hughes, Kris Kennedy and Gregg Christofferson of JLL are handling leasing at the property. Earlier this year, A. Duie Pyle, a 101-year-old, family-owned provider of integrated transportation and distribution solutions, purchased a 43-acre development site at Port 460…

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Cinnaire Closes $307M LIHTC Equity Fund for 2,259 Affordable Housing Units Across 10 States

Kristin Harlow — Mon, 08 Jun 2026 13:51:11 +0000

LANSING, MICH. — Lansing-based Cinnaire has closed a $307 million Low-Income Housing Tax Credit (LIHTC) equity fund, Fund for Housing LP 45, which will finance the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. Fund 45 will support multifamily development in Delaware, Illinois, Indiana, Maryland, Maine, Michigan, Minnesota, Pennsylvania, Virginia and Wisconsin. Specific projects include 3rd Avenue Flats in Dilworth, Minn., and The Argus Apartments in Verona, Wis. A new-construction development, 3rd Avenue Flats will bring 44 affordable housing units, five of which will be reserved for people with disabilities and four of which will be designated for households experiencing high-priority homelessness. The developer, Commonwealth Holdings IV, will partner with Lakes & Prairies Community Action Partnership to provide access to the state’s community coordinated entry system CARES, which provides access to all homeless housing programs as well as emergency resources to prevent households from falling into homelessness. The Argus Apartments is also a new development that will provide 60 affordable housing units, including nine reserved for individuals with developmental, physical or mental disabilities. Social services provider Lutheran Social Services will provide onsite services to the nine Permanent Supportive Housing units. The project developers are…

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Krueger Group Opens 25-Unit Rental Townhome Development in Rocky River, Ohio

Kristin Harlow — Mon, 08 Jun 2026 13:45:13 +0000

ROCKY RIVER, OHIO — The Krueger Group (TKG) has opened Phase II of ORRIS, which brings 25 rental townhomes along Center Ridge Road in Rocky River, a suburb of Cleveland. Cross Street is handling leasing, marketing and property management. The residences are offered in two- and three-bedroom floor plans with attached two-car garages. The units average 2,600 to 2,700 square feet, with some larger floor plans exceeding 3,000 square feet. Monthly rents start at $4,700. The first phase of ORRIS was completed in 2024 and comprises a 54-unit apartment building. Residents of the townhomes enjoy full access to the amenities within Phase I, including a fitness center, coworking spaces, resident lounge areas, package and mail services, dry cleaning services and an outdoor courtyard.

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Rosewood Property Co. Begins Leasing 338-Unit Apartment Community in Plano

Taylor Williams — Fri, 05 Jun 2026 15:19:09 +0000

PLANO, TEXAS — Dallas-based Rosewood Property Co. has begun leasing The Buckley, a 338-unit apartment community in Plano. The Buckley is the sister property of The Ludlow, both of which are located within the 156-acre Heritage Creekside master-planned development. The Buckley feature studio, one-, two- and three-bedroom apartments and amenities such as a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management was the equity partner for the project, and Broadway Bank provided construction financing. Provident General Contractors constructed the property, which was designed by Hensley, Lamkin, Rachel Inc. Rents start at $1,700 per month for a studio apartment.

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Panepinto Properties Begins Leasing 53-Story Apartment Tower in Jersey City

Taylor Williams — Fri, 05 Jun 2026 14:40:54 +0000

JERSEY CITY, N.J. — Locally based developer Panepinto Properties has begun leasing 505 Summit, a 53-story apartment tower in the Journal Square area of Jersey City. The building offers 605 units in studio, one-, two- and three-bedroom floor plans. The property also features 4,000 square feet of street-level retail space, a landscaped public plaza, parking garage and 304 bicycle storage spaces. Residential amenities include an outdoor terrace with a pool, grilling stations, a resident lounge, coworking spaces, sports simulator and a fitness center. Pacific Life financed construction of the project, which began in the third quarter of 2023 and topped out last summer. Rents start at $3,350 per month for a studio apartment.

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IDI Logistics Breaks Ground on 154,387 SF Industrial Project in Piscataway, New Jersey

Taylor Williams — Fri, 05 Jun 2026 14:31:01 +0000

PISCATAWAY, N.J. — IDI Logistics has broken ground on a 154,387-square-foot industrial project in the Northern New Jersey community of Piscataway. The building at 1551 S. Washington Ave. will feature a rear-load configuration, clear height of 40 feet, 24 dock doors, two drive-in doors, 130-foot truck court depths and parking for 144 cars and 20 trailers. CBRE is marketing the building for lease. A tentative completion date was not announced.

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Peachtree Group Opens 220-Key Marriott-Branded Hotel in Palmdale, California

Amy Works — Fri, 05 Jun 2026 13:28:58 +0000

PALMDALE, CALIF. — Atlanta-based developer Peachtree Group has opened the 220-key TownePlace Suites by Marriott Palmdale hotel. Located at 39330 Trade Center Drive, the hotel’s suites feature fully equipped kitchens, complimentary Wi-Fi and workspaces. Onsite amenities include complimentary hot breakfast, 24-hour fitness center, outdoor pool, pet-friendly suites, free parking and Marriott Bonvoy digital check-in. Peachtree Group’s hospitality management division will operate the hotel, which is one of the firm’s early EB-5 developments and previously received I-956F approval from U.S. Citizenship & Immigration Services. The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the United States.

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Detroit’s Corktown Neighborhood to Receive 188 New Mixed-Income Units Representing $84M Investment

Kristin Harlow — Fri, 05 Jun 2026 13:24:33 +0000

DETROIT — Detroit’s historic Corktown neighborhood is set to receive three new mixed-income housing developments: Bagley Townhomes & Flats, West of 10th Apartments and Trumbull Apartments. Together, the three projects will bring 188 new residential units, including more than 150 affordable homes supported through the city by a portion of Detroit’s $35 million federal Choice Neighborhoods Implementation (CNI) grant. Fifth Third Bank (formerly Comerica Bank) and Citizens Bank are also providing funding for the developments, which are part of the ongoing redevelopment of the former Clement Kern Gardens site. American Community Developers Inc. is leading development of all three projects, which collectively represent nearly $84 million in total investment. Located just west of downtown Detroit, Corktown has long served as a gateway community for generations of immigrants and working-class families. Originally settled by Irish immigrants in the mid-1800s, the neighborhood became known for its close-knit residential blocks and historic row houses. In recent years, Corktown has experienced significant redevelopment activity, driven by public and private investment surrounding Michigan Central, Roosevelt Park and the broader southwest Detroit corridor. The City of Detroit was awarded a $35 million CNI grant in May 2021 by the U.S. Department of Housing and Urban Development.…

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Zilber Residential Group, Homes by Towne Complete 209-Unit Multifamily Community in Roseville, California

Amy Works — Thu, 04 Jun 2026 13:33:00 +0000

ROSEVILLE, CALIF. — Affiliates of Zilber Residential Group and Homes by Towne have completed Estia Roseville, a 209-unit multifamily community located in the greater Sacramento area. Located at 6350 Baseline Road, Estia Roseville consists of one- and two-bedroom and cottage-style apartments ranging in size from 709 to 1,083 square feet. Units feature private entrances, 10-foot ceilings, walk-in closets, individual washers and dryers, stainless steel appliances and private, fenced-in backyards with built-in doggie doors. Community amenities include a dog park, pet spa, swimming pool, 24-hour fitness center and a dedicated yoga studio.

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