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Development

The-Mark-Mansfield-Storrs-Connecticut
ConnecticutDevelopmentMultifamilyNortheastStudent Housing

Landmark, Peninsula to Develop 738-Bed Student Housing Project in Storrs, Connecticut

by Taylor Williams

STORRS, CONN. — A partnership between Georgia-based developer Landmark Properties and Miami-based private equity real estate firm Peninsula Investments will develop The Mark Mansfield, a 738-bed student housing project in Storrs, home of the University of Connecticut. The 1.5-acre site at 134 N. Eagleville Road is adjacent to campus. Information on specific floor plans and amenities was not disclosed, but The Mark Mansfield’s residences will be fully furnished residences with high-end finishes. In addition, the property will house approximately 7,000 square feet of retail space that will be occupied by Huskies Tavern, which is currently located onsite. A construction timeline was also not disclosed.

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DevelopmentHospitalityKansasMidwest

Price Brothers Breaks Ground on 99-Room Holiday Inn Express Hotel at Bluhawk Development in Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Price Brothers has broken ground on a 99-room Holiday Inn Express hotel at the Bluhawk mixed-use development in Overland Park, a suburb of Kansas City. The project marks the first of three planned hotels within The Boundary, a retail and lifestyle center. The hotel is scheduled for completion in spring 2026 in time to welcome guests for the FIFA World Cup. Additionally, Barnes & Noble and J. Crew Factory are scheduled to open at The Boundary this summer.

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Grand Hyatt Miami Beach
DevelopmentHospitalityLoansTop Stories

Terra, Turnberry Receive $392M Construction Financing for Miami Beach Grand Hyatt Hotel

by Channing Hamilton

MIAMI BEACH, FLA. — Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers.  Grand Hyatt Miami Beach will rise 17 stories at 17th Street and Convention Center Drive. The property will offer 12 floors of guest rooms, including 52 suites with views of Miami Beach. Additionally, four floors will feature meeting and ballroom spaces. Guests will have access to a pool deck with panoramic city views, a restaurant, lobby lounge and bar, as well as street-level retail space. The hotel will feature direct access to the Miami Beach Convention Center via a climate-controlled sky bridge. Plans for the development also call for new public spaces, pedestrian-friendly promenades, bike-sharing stations and connectivity to public transit. According to sources familiar with the transaction, Eastdil Secured was involved in arranging the debt on behalf of Terra and Turnberry. Arquitectonica designed the hotel, and Balfour Beatty is serving as the general contractor. The Miami Beach Redevelopment Agency awarded a $75 million grant for the project in 2024. Grand …

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Waldorf-Astoria-Texas-Hill-Country-Fredericksburg
DevelopmentHospitalityMultifamilyTexas

Partnership to Develop Waldorf Astoria Hotel, Residences in Fredericksburg, Texas

by Taylor Williams

FREDERICKSBURG, TEXAS — A partnership between Hilton (NYSE: H) and Wine Country Hospitality Partners LLC will develop a hotel and residential property in the Central Texas city of Fredericksburg that will be operated under the Waldorf Astoria brand. The Waldorf Astoria Texas Hill Country and Waldorf Astoria Residences Texas Hill Country will consist of 60 dedicated hotel guest rooms and suites, 37 resort villas and 50 private residences. The resort will also offer five food-and-beverage concepts, an 11,000-square-foot spa and fitness center and two resort-style pools. The opening is scheduled for 2027. Wine Country Hospitality Partners is a partnership between Mark Harmon, founder of Auberge Resorts Collection; Robert Radovan, founder of luxury hospitality developer Criswell Radovan; and Tim Sparapani, co-founder of Blue Run Spirits and an experienced investor in hospitality startups.

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DevelopmentRetailTexas

Takoro Sports to Open 20,000 SF Baseball-Themed Entertainment Venue in Pflugerville, Texas

by Taylor Williams

PFLUGERVILLE, TEXAS — Takoro Sports, a Taiwanese entertainment concept centered on baseball, will open a 20,000-square-foot venue in the northern Austin suburb of Pflugerville. The facility will be constructed via ground lease within Stone Hill Town Center and will feature high-tech batting and pitching cages, various simulators, arcade games and food-and-beverage options. NewQuest owns Stone Hill Town Center. A tentative opening date was not disclosed.

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DevelopmentHealthcareNew YorkNortheastOffice

Atkins Cos., Denholtz Complete Phase I of Renovation of 490,000 SF Office, Healthcare Facility in Chappaqua, New York

by Taylor Williams

CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz, has completed Phase I of the renovation of Medical Offices at Chappaqua Crossing, a 490,000-square-foot office and healthcare complex located about 30 miles north of Manhattan. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development that formerly housed the headquarters of Reader’s Digest and is known as Chappaqua Crossing. The renovation upgraded the property’s common areas with new LED lighting, ceilings, flooring, lobby furniture, paint/wallpaper and moss wall coverings. In addition, a $6 million upgrade of HVAC systems is currently underway. The partnership acquired the property in April 2023 for $40 million.

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AcquisitionsArkansasDevelopmentSoutheastStudent Housing

Endeavor Acquires Student Housing Development Site Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — Endeavor Real Estate Group has acquired a development site near the University of Arkansas campus in Fayetteville for a new student housing development. Details on the project have not been announced. The Austin, Texas-based firm also recently hired Chuck Carroll as principal to assist with growing the company’s student housing platform. Carroll previously spent over 20 years with American Campus Communities. He will be joining Jake Newman, principal of Endeavor, who will be spearheading the firm’s new student housing division.

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Rosera-Wesmont-Wood-Ridge-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

JCMLiving Begins Leasing 295-Unit Apartment Complex in Wood-Ridge, New Jersey

by Taylor Williams

WOOD-RIDGE, N.J. — JCMLiving has begun leasing Rosera Wesmont, a 295-unit apartment complex located in the Northern New Jersey community of Wood-Ridge. Rosera Wesmont offers studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops, smart lock entry mechanisms and individual washers and dryers. Amenities include a pool with a sundeck and landscaped courtyard; a multi-level gym with a yoga studio, sauna and bar; coworking spaces, private offices and meeting rooms; and a sports simulator. Minno & Wasko Architects and Planners designed the project. Rents start at roughly $2,300 per month for a studio apartment. Construction began in spring 2023.

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DevelopmentHealthcareIllinoisMidwest

Keeley Construction Completes 19,475 SF Hanger Clinic Facility in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Keeley Construction has completed a 19,475-square-foot Integrated Care Center (ICC) for Hanger Clinic in the Chicago suburb of Schaumburg. The new facility is located at 640 E. Golf Road. Hanger Clinic is a provider of orthotic and prosthetic solutions, with more than 900 locations across the country. The new ICC is designed to elevate patient care for individuals with limb loss, limb difference and other physical disabilities. The clinic features a rock-climbing wall, gym area, golf simulator, running track, kitchen and demo apartment. The amenities provide patients with the opportunity to test various prosthetic technologies in real-life scenarios. The ICC also features multiple medical exam rooms, dedicated office space with a Clinician Collaboration Center, a reception and waiting area and onsite fabrication lab. Sarfatty Associates was the architect and Ware Malcomb served as interior designer. Brian Edgerton of NAI Hiffman represented Hanger Clinic in the lease, starting with strategic planning and site selection in February 2022. Les Kristof of CBRE represented the landlord, Golfwood Square LLC.

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The-Elle-Apartment-Homes-San-Antonio
DevelopmentMultifamilyTexas

Koontz Corp. to Develop 305-Unit Apartment Community in North San Antonio

by Taylor Williams

SAN ANTONIO — Locally based developer Koontz Corp. will develop The Elle Apartment Homes, a 305-unit multifamily community in San Antonio. The site spans 9.6 acres on the city’s north side, and the building will rise four stories and house one- and two-bedroom units. Residences will be furnished with kitchen islands, stainless steel appliances, custom cabinetry, quartz countertops, walk-in closets, full-size washers and dryers and private patios. Amenities will include a pool, fitness center, entertainment room, business center, coffee bar, grilling areas and a dog park. Project partners include Garcia + Associates (architect), Pape-Dawson (engineer), Casey Roy Design (interior design) and IBC Bank (construction lender). Construction is scheduled to begin in the third quarter and to be complete in mid-2027.

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