Development

Texas A&M Plans $546M Expansion at Texas Medical Center in Houston

by Alex Patton February 21, 2020

HOUSTON — Texas A&M University has unveiled plans for a $546 million expansion project at Texas Medical Center in Houston. The project will include the $145 million acquisition and renovation of the 18-story Texas A&M Engineering Medicine (EnMed) building at 1020 Holcombe Blvd., as well as $401 million construction of two new towers adjacent to the EnMed structure. The first new building is a 30-story medical tower slated for completion in June 2023. The property will include 72,000 square feet of retail space and 8,700 square feet of green space. The tower will expand the EnMed building’s engineering medicine programs, which include a combination of medical and engineering degrees. The second new building is a 19-story residential tower slated for completion in June 2022. The project will include 704 beds of student housing and a 3,444-space parking garage. Texas A&M College of Medicine students and Prairie View A&M University College of Nursing students will have first priority to occupy the housing, but students from other institutions can also apply. The expansion will be part of Texas Medical Center’s planned 1.5 million-square-foot TMC3 translational research campus. With construction scheduled to begin this year for completion in 2022, TMC3 will include 112,000 …

February 21, 2020

Development Florida Multifamily Southeast

Time Equities Unveils Plans for 300-Unit Multifamily Community in West Palm Beach

by Alex Tostado February 20, 2020

WEST PALM BEACH, FLA. — Time Equities Inc. has unveiled plans for CasaMara, a 300-unit multifamily community in West Palm Beach that will also feature 16,000 square feet of retail space. The property will comprise a 16,000-square-foot clubhouse and seven low-rise buildings offering studio to three-bedroom floor plans. Communal amenities will include a pool with cabanas, pool pavilion building, children’s pool, grilling stations, 60-foot water wall, Jacuzzi, coworking lounge, fitness center, bark park, game room with billiards and Wii stations, club room with art lounge and fire place, dining facilities for private parties, children’s playroom and an outdoor playground. The property is situated on 10 acres at 3111 S. Dixie Highway, two miles south of downtown West Palm Beach. MSA Architects is designing the exterior of CasaMara, while ID and Design International will design the interiors. KAST Construction is the general contractor, and Zabik & Associates is the construction manager. M&T Bank is providing construction financing. Avison Young is handling leasing efforts for the retail portion, and Lincoln Property Co. is handling leasing efforts for the multifamily portion. Time Equities expects to deliver the community in spring 2021.

February 20, 2020

Development Multifamily North Carolina Southeast

Joint Venture Breaks Ground on $44.8M Apartment Complex in Metro Raleigh

by Alex Tostado February 20, 2020

HOLLY SPRINGS, N.C. — A joint venture between Dominion Realty Partners, Amzak Capital Management and Kite Realty Group has broken ground on Holly Springs Apartments, a planned 239-unit complex in Holly Springs. The property will offer communal amenities such as a pool, multiple outdoor fireplaces, dog park and a 24-hour fitness center with a yoga and cycle room. Unit interiors will include nine-foot ceilings, decorative pendant lighting, quartz countertops, stainless steel appliances, subway tile backsplash and vinyl plank hardwood floors. United Bank is providing financing for the project, which is expected to cost $44.8 million to develop. Rule Joy Trammell + Rubio is the architect, Armada Hoffler Construction is the general contractor and Piedmont Land Design is the project’s civil engineer. The developers expect to deliver the first units and clubhouse by the end of 2021.

February 20, 2020

Development Florida Retail Southeast

Ferber to Develop 250,000 SF Shopping Center Near Jacksonville

by Alex Tostado February 20, 2020

ST. JOHNS, FLA. — The Ferber Co. will develop Durbin Creek Crossing, a 70-acre shopping center in the south Jacksonville suburb of St. Johns. Ferber is scheduled to break ground this summer and expects to deliver the asset by fall 2021. The property will offer 250,000 square feet of retail space across 10 outparcels sized between 0.8 and 2.6 acres. Ferber has signed Aldi to a 19,000-square-foot lease. Other tenants coming to Durbin Creek Crossing include ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. Nancy Sumner and Katy Figg of Colliers International are handling the leasing efforts on behalf of Ferber. The site is located at the corner of St. Johns Parkway and Racetrack Road, 21 miles south of downtown Jacksonville. The remaining 22 acres of wetlands at the southern portion of the site will serve as an environmental buffer protected by a conservation land use designation for the single-family communities south of the site.

February 20, 2020

Development Industrial Texas

Ascendant Commercial Buys Land in South Fort Worth for 2.2 MSF Industrial Project

by Taylor Williams February 20, 2020

FORT WORTH, TEXAS — Ascendant Commercial, a Dallas-based investment and development firm, has purchased land at the northwest corner of Interstate 35 and State Highway 1187 in south Fort Worth for a 2.2 million-square-foot industrial project. Construction of Phase I of the project is expected to commence this summer and to feature an 850,000-square-foot speculative distribution center. Delivery is slated for May 2021. CBRE is handling leasing of the new facility.

February 20, 2020

Development Multifamily Texas

KWA Construction Tops Out 258-Unit Kilby Apartment Community in Frisco Square

by Taylor Williams February 20, 2020

FRISCO, TEXAS — KWA Construction has topped out Kilby, a 258-unit apartment community located within the $600 million Frisco Square mixed-use development north of Dallas. Designed by BGO Architects and developed by Toll Brothers Apartments, the property will offer a clubroom, conference lounge, gaming lounge, two-story fitness center with a yoga deck, pet spa and an outdoor patio with grills surrounding a resort-style pool. Completion is scheduled for late 2020.

February 20, 2020

Development Midwest Multifamily Ohio

KTGY Architecture + Planning Unveils Design for 344-Unit Apartment Project in Downtown Cincinnati

by Kristin Harlow February 20, 2020

CINCINNATI — KTGY Architecture + Planning has unveiled the design for Artistry Cincinnati, a 344-unit apartment project located along the Ohio River in downtown Cincinnati. The seven-story building, located at 601 E. Pete Rose Way, is currently under construction and is scheduled for completion in late 2021. Milhaus is the developer. Features of the property include a second-floor amenity space offering direct access to an exterior courtyard, a 2,500-square-foot outdoor gallery that will house large-scale art installations, and access to the river and adjacent park. Amenities will include a rooftop pool, fitness center, yoga studio, pet spa, community garden, coworking spaces and bike storage. Plans also call for 390 parking spaces and 8,000 square feet of commercial space. Floor plans will range from studios to three-bedroom units. The project is situated at 601 E. Pete Rose Way.

February 20, 2020

Development Michigan Midwest Multifamily Student Housing

Trinitas to Break Ground on 682-Bed Student Housing Community Near University of Michigan

by Kristin Harlow February 20, 2020

ANN ARBOR, MICH. — Trinitas Ventures is set to break ground on The One, a 682-bed student housing community located near the University of Michigan campus in Ann Arbor. The development will offer one-, two-, three-, four- and five-bedroom, cottage-style units. Shared amenities will include a fitness center, business center, game room, resort-style swimming pool, fire pit, private study lounges, basketball and volleyball courts and a shuttle service to campus. A Trinitas-managed investment entity has provided equity financing for the project, and PNC Bank is providing construction financing. A timeline for the development, located at 2601 Pontiac Trail, has yet to be announced.

February 20, 2020

Development Hospitality Nevada Top Stories Western

CIM Group Building 495 More Rooms at Downtown Grand Hotel & Casino in Las Vegas

by Alex Tostado February 20, 2020

LAS VEGAS — CIM Group is expanding Downtown Grand Hotel & Casino with the addition of an eight-story, 495-room building in downtown Las Vegas. The extra rooms will increase the total number of rooms by more than 75 percent, bringing the total from 629 to 1,124 rooms. The new building is being constructed atop a reconfigured porte-cochere (a covered entrance large enough for vehicles to pass through), and guests will have direct access to the third-level pool deck, the hotel’s casino, ground-level retail and entertainment options. Furthermore, CIM Group is developing a new public casino entrance. Of the new rooms, 90 are suites, including 67 studio units, 20 one-bedroom suites and three Presidential Suites each totaling nearly 1,500 square feet of living space. Downtown Grand Hotel also offers DJs on the casino floor every Friday and Saturday, six meeting rooms ranging from 814 to 10,625 square feet, and six restaurants. Upon completion of the expansion, Downtown Grand Hotel & Casino will comprise three buildings that span two city blocks between Casino Center Boulevard, North 4th Street, East Ogden Avenue and East Stewart Avenue. CIM Group originally opened Downtown Grand Hotel in 2013. The Los Angeles-based developer expects to complete the …

February 20, 2020

Colorado Development Multifamily Western

Partnership Breaks Ground on 281-Unit Traverse Apartments in Lakewood, Colorado

by Amy Works February 19, 2020

LAKEWOOD, COLO. — Denver-based Trailbreak Partners, Colorado-based Highland Development Co. and T.O.D. Properties have broken ground on Traverse Apartments, a Class A multifamily property in Lakewood. Slated to open in early 2022, Traverse Apartments is the latest addition to West Line Village, T.O.D.’s transit-oriented neighborhood in Lakewood. The five-story building will features 281 apartments, a swimming pool, hot tub, rooftop patio, courtyard lounge areas, clubhouse, business center, fitness center, media room and pet spa. Traverse Apartments will also feature a 362-space parking structure. The project is located adjacent to the Sheridan Station on the W Line, which is five stops from downtown Denver. Martines Palmeiro Construction is serving as general contractor for the project, which KTGY Architecture + Planning designed.

February 19, 2020

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