WATERLOO, IOWA — TVS Supply Chain Solutions has opened its new 225,113-square-foot, build-to-suit facility in Waterloo. Developed in partnership with ElmTree Funds and Ryan Cos. US Inc., the project features 6,800 square feet of office space, a driver’s lounge, 30 loading dock doors and two drive-in doors. TVS’s first Iowa facility is in Iowa City. Ryan is also building another 225,000-square-foot property for TVS in Davenport that is scheduled for completion in October. Ryan served as developer and builder of the Waterloo facility, and Ryan A+E Inc., Ryan’s design studio, served as the architect. ElmTree served as facility owner and financier.
CHICAGO — Related Midwest and CRG have broken ground on the Illinois Quantum & Microelectronics Park (IQMP), the first phase of Quantum Shore Chicago, a 440-acre, master-planned technology and innovation district along the Chicago lakefront. The project is located on the former U.S. Steel South Works site at 8080 S. DuSable Lake Shore Drive in the South Chicago neighborhood. The co-developers are receiving financing from funds managed by Blue Owl Capital on both the land acquisition and vertical development of facilities for IQMP’s anchor tenant, PsiQuantum, a Palo Alto, Calif.-based company with a mission “to build and deploy the world’s first useful quantum computers.” Quantum computing utilizes quantum mechanics to solve complex problems such as climate, energy and defense challenges faster than traditional computers. Created through a public-private partnership with State of Illinois and federal agencies, IQMP will occupy 128 acres on the southern end of the development site. In addition to PsiQuantum’s 80,700-square-foot office and research facility — the first of several buildings the firm will eventually occupy — the campus will include a cryoplant (a facility that uses extremely low temperatures to produce gases like liquid helium and nitrogen for high-tech applications) and equipment labs, as well as …
LAGRANGE, GA. — Selig Enterprises has sold 45 acres at Sola, the Atlanta-based company’s 180-acre mixed-use campus in LaGrange. The buyer, the founders of DAS Cricket Academy and NJ Blackcaps in New Jersey, plan to develop Georgia’s first professional cricket stadium on the site. The LaGrange Cricket Stadium will be the first privately owned cricket stadium in the United States and the fourth cricket stadium in the country. The open-air stadium will break ground this fall and is slated to be completed in the first quarter of 2027. The project will have 10,500 seats, expandable to 25,000, and be designed to International Cricket Council regulations. The stadium will also have a FIFA-regulated soccer field and host various events. Additionally, a hotel with a sports-focused food-and-beverage program is planned on the 45-acre site, complementing the Marriott hotel currently under construction within Sola that Noble Investment Group is developing, as well as the Great Wolf Lodge resort that is situated on the northern end of the Sola campus. Selig plans to add offices, apartments, single-family homes and 150,000 square feet of retail at the Sola development in the near future.
BEVERLY HILLS, CALIF. — Cain International has provided updates on One Beverly Hills, a 17.5-acre mixed-use project in metro Los Angeles that is valued at roughly $10 billion. Luxury fashion brand Dolce & Gabbana, as well as restaurants Casa Tua Cucina and Los Mochis, have been confirmed as three of the first tenants within the development’s 200,000-square-foot retail district, which is planned to ultimately feature 45 shopping and dining options. In addition, construction is underway on Aman Beverly Hills, which will consist of a 78-suite hotel, two residential towers, a private club and 10 acres of botanical gardens and open space. The latter element will connect The Beverly Hilton hotel, which is currently being renovated, and the Waldorf Astoria Beverly Hills hotel.
SAN DIEGO — JLL Capital Markets has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in San Diego’s Otay Mesa submarket. The borrower is a joint venture between Elevation Land Co. and a real estate fund advised by Crow Holdings Capital. Aldon Cole and Ben Choromanski of JLL Capital Markets arranged the three-year, floating-rate loan through New York Life Real Estate Investors for the borrower. Phase I of Otay Business Park will deliver 612,240 square feet spanning four freestanding warehouse and distribution buildings, ranging from 79,760 square feet to 233,880 square feet. The single-story, reinforced concrete tilt-up structures will feature 32-foot clear heights and be divisible into suites as small as 45,000 square feet. Upon full build-out, the 119-acre Otay Business Park will feature 1.8 million square feet of industrial space across nine buildings. Construction for Phase I is underway, with completion slated for mid-2026. The project is expected to reach stabilization by mid-2027.
JACKSON, MICH. — The McDaniel Apartments at Andy’s Place II has opened in Jackson, about 37 miles west of Ann Arbor. The project marks a major expansion of Michigan’s first Permanent Recovery Supportive Housing initiative. The development adds 26 affordable housing units and vital recovery services to serve expectant families overcoming opioid addiction. The new phase is named in honor of Mark McDaniel, president and CEO of Cinnaire. Andy’s Place, established in 2020, was the first in Michigan to directly link long-term housing with recovery services. Andy’s Place II, now The McDaniel Apartments, focuses on keeping families together through recovery. Unlike the first phase, which primarily serves treatment court referrals, this phase is open to families applying directly. Residents will have access to peer recovery coaching; onsite behavioral health services; a resource center and community room; and outdoor gathering spaces, picnic areas and a tot lot. These features are designed to reduce relapse, prevent family separation and help residents develop the skills needed for long-term recovery and independence. The McDaniel Apartments was made possible through a collaboration among local, state and private-sector partners, including Cinnaire, Huntington Bank, Comerica, Fifth Third Bank, Michigan State Housing Development Authority and various community-based organizations. …
MOORESTOWN, N.J. — Pennrose has completed Residences at Harper, a 76-unit affordable housing project in Moorestown, located in Southern New Jersey’s Burlington County. Units come in one-, two- and three-bedroom floor plans and are reserved for households earning between 30 and 60 percent of the area median income. Several residences will be specifically earmarked for formerly homeless residents or those with certain disabilities. Amenities will include a community room, fitness center, playground and a laundry room.
LAS VEGAS — Bally’s Corp. (NYSE: BALY) has announced plans for Bally’s Las Vegas, an entertainment resort destination planned on the 35-acre site of the former Tropicana Las Vegas hotel and casino. The casino and sports entertainment operator is partnering with JLL and Marnell Cos. on the development, which is being submitted to Clark County for entitlements. Bally’s Las Vegas will share the site with the new Las Vegas Athletics Major League Baseball ballpark, a move by the Oakland Athletics that was announced and approved in 2023. Bally’s expects construction at Bally’s Las Vegas to begin in the first half of 2026. “Bally’s Las Vegas represents a once-in-a-generation opportunity to redefine the heart of the Strip,” says Soo Kim, chairman of the board of directors at Bally’s. “With world-class partners like JLL and Marnell, and with the arrival of Major League Baseball, we are not just building an integrated resort. We are creating a landmark destination that unites sports, entertainment, dining and hospitality on a scale only Las Vegas can deliver.” Plans for Bally’s Las Vegas include two luxury hotel towers totaling 3,000 rooms, an entertainment venue with a seating capacity of 2,500 and more than 500,000 square feet of …
FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. has broken ground on Westbend Residences, a 321-unit multifamily project that will be located in Fort Worth’s University District. The site spans 3.5 acres within Trademark’s Westbend mixed-use development that fronts the Clear Fork Trinity River. Units will come in one-, two- and three-bedroom floor plans, and a few penthouses will also be available on the top floor. Amenities will include two elevated resort-style pools, a fitness center and a dog spa, as well as 4,500 square feet of retail space. Construction is expected to be complete in early 2027.
GRAND PRAIRIE, TEXAS — Alabama-based general contractor Brasfield & Gorrie has broken ground on a $6 million hangar renovation project for Airbus at the airplane manufacturer’s industrial campus in Grand Prairie, located roughly midway between Dallas and Fort Worth. The project will add an annex building and convert an existing building into a helicopter blade repair shop with two custom paint booths. A tentative completion date was not announced.