Development

Toll Brothers, Harrison Street to Develop 826-Bed Student Housing Community in Tempe

by Amy Works January 14, 2021

TEMPE, ARIZ. — Toll Brothers Campus Living and Harrison Street have formed a joint venture to develop Canvas, a student housing community adjacent to Arizona State University (ASU) in Tempe. The joint venture has secured a construction loan facility from MidFirst Bank, Fifth Third Bank N.A. and Trustmark Bank. Toll Brothers’ in-house finance department arranged the debt and equity financing. TSB Capital Advisors served as advisor to Toll Brothers. Situated on 3.4-acres, Canvas will feature 263 units totaling 826 beds with a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed internet and stainless steel appliances. The community will feature a six-level, 469-stall parking garage; fitness center; clubroom with an e-sports lounge; rooftop pool and amenity deck; business center; café/lounge; ground-floor retail space; courtyard and fire pit; grilling stations; electronic parcel lockers; private study rooms; and bike storage. The joint venture has partnered with Subtext, a real estate development company focused on living spaces for students and young professionals. Toll Brothers Campus Living will manage the development, construction and marketing, as well as asset management. Cardinal Group Management will act as the …

January 14, 2021

Development Multifamily Texas

StreetLights Residential Opens 340-Unit Jackson Apartments in Arlington

by Taylor Williams January 14, 2021

ARLINGTON, TEXAS — Locally based developer StreetLights Residential has opened The Jackson, a 340-unit apartment community located within the Viridian master-planned development in Arlington. The property offers studio, one-, two- and three-bedroom units that range in size from 588 to 1,671 square feet and that are furnished with granite countertops, tile backsplashes, custom flooring and cabinetry and individual washers and dryers. Select units also feature private screened porches. Amenities include a lounge with coworking spaces, a fitness center with yoga and spin studios, coffee bar, pool, pet spa and a demonstration kitchen. WDG Architecture designed the project, and SLR Construction served as the general contractor. Rents start at $1,350 per month for a one-bedroom unit, according to Apartments.com.

January 14, 2021

Development Multifamily Texas

RightQuest Breaks Ground on 198-Unit Siena Round Rock Apartments in Metro Austin

by Taylor Williams January 14, 2021

ROUND ROCK, TEXAS — Metro Dallas-based developer RightQuest Residential has broken ground on Siena Round Rock, a 198-unit apartment community located on a 13-acre tract in the Austin suburb of Round Rock. Units will feature one- and two-bedroom floor plans with upgraded appliances, granite countertops and individual washers and dryers. Select residences will also offer private balconies or patios. Amenities will include a pool, fitness center, business center, dog park, outdoor grilling areas and a clubhouse with a media room. The first units are expected to be available for occupancy in spring 2022, with rents starting at $1,158 per month for a one-bedroom unit. Project partners include Cross Architects, civil engineering firm Kimley-Horn and general contractor Maker Bros. Construction. The Houston Group provided construction financing.

January 14, 2021

Development Georgia Industrial Southeast

Brennan Investment Group to Develop 300,000 SF Industrial Portfolio in Metro Atlanta

by Alex Tostado January 13, 2021

JONESBORO, GA. — Brennan Investment Group has acquired 25 acres in Jonesboro to develop Jonesboro Logistics Center, a three-building, 300,000-square-foot industrial campus in Jonesboro. Buildings One and Two will span 50,500 square feet, while Building Three will total 200,000 square feet. Each building is designed to accommodate two tenants. Buildings One and Two will be able to expand to house four tenants. Construction is scheduled to begin this quarter with completion targeted for the end of this year. Nick Peacher of Stream Realty Partners represented Chicago-based Brennan in the land transaction.

January 13, 2021

Development Georgia Retail Southeast

New York Life Taps Trademark Property to Manage Redevelopment of North Point Mall in Metro Atlanta

by Alex Tostado January 13, 2021

ALPHARETTA, GA. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will also manage and lead the leasing effort for the property. North Point Mall spans 1.3 million square feet and is located near the intersection of Ga. Highway 400 and Encore Parkway, 25 miles north of downtown Atlanta. The enclosed mall features 129 stores and restaurants, including Dillard’s, JC Penney, Von Maur, H&M, Macy’s, Sephora, AMC Theatres and The Cheesecake Factory. A timeline for redevelopment plans was not disclosed. Fort Worth, Texas-based Trademark has also redeveloped centers such as Bridgewater Commons in New Jersey; La Palmera in Corpus Christi, Texas: Victory Park in Dallas; Rice Village in Houston; WestBend in Fort Worth; Zona Rosa in Kansas City, Mo.; Annapolis Town Center in Annapolis, Md.; and Saddle Creek in Germantown, Tenn.

January 13, 2021

Development Multifamily North Carolina Southeast Student Housing

Aspen Heights Breaks Ground on 188-Unit Student Housing Community in Charlotte

by Alex Tostado January 13, 2021

CHARLOTTE, N.C. — Aspen Heights Partners has broken ground on Aspen Heights University City, a 188-unit student housing community located at 300 Heritage Lake Drive near the University of North Carolina at Charlotte campus. The property will offer two-, three-, four- and five-bedroom units, two-thirds of which will feature a cottage-style design. Communal amenities will include a pool, grilling areas, basketball court, sand volleyball court, fitness center, study lounges and an onsite shuttle to campus. Austin, Texas-based Aspen Heights secured $38.1 million in construction financing from Synovus Bank for the development, which is scheduled for completion in summer 2022.

January 13, 2021

Development Indiana Midwest Multifamily

Doster Completes Construction of 215-Unit Apartment Complex in Jeffersonville, Indiana

by Kristin Harlow January 13, 2021

JEFFERSONVILLE, IND. — Doster Construction Co. has completed construction of The Walcott, a 215-unit luxury apartment complex in downtown Jeffersonville near Louisville. Located at 222 W. Maple St., the project includes a parking deck as well as a pool, fitness center and a rooftop terrace overlooking the Ohio River. Doster began construction on the project in 2019. Boka Powell was the architect and Waypoint Real Estate Investments was the developer. Monthly rents start at $1,045 for studios. Residents can now earn 10 weeks of free rent.

January 13, 2021

Affordable Housing Development Indiana Midwest Multifamily

The Annex Group to Develop $29M Affordable Housing Community in Indianapolis

by Kristin Harlow January 13, 2021

INDIANAPOLIS — The Annex Group is developing Union at 16th, a $29 million affordable housing community in Indianapolis. Located at 2215 W. 16th St., the 159-unit property will feature one-, two- and three-bedroom floor plans. Annex has closed on project financing and will begin construction immediately. Completion is slated for winter 2021. Project partners include T&H Investment Properties LLC and the Indiana Housing & Community Development Authority. The City of Indianapolis gave tax abatement incentives, R4 Capital Funding provided construction and permanent loan financing, Cinnaire provided tax credit equity and the Indianapolis Neighborhood Housing Partnership provided additional construction financing. Brenner Design is the architect and Crestline will serve as property manager. Amenities will include a playground, community center, fitness center, community gardens and bike parking.

January 13, 2021

California Development Mixed-Use Multifamily Office Retail Western

STC Ventures Receives Approval for 12-Story Mixed-Use Project in Sunnyvale, California

by Amy Works January 13, 2021

SUNNYVALE, CALIF. — STC Ventures, a joint venture between Sares Regis Group of Northern California and Hunter Properties, has received approval from Sunnyvale Planning Commission to develop a 12-story, mixed-use project at 200 S. Taafee St. within CityLine Sunnyvale. Situated in downtown Sunnyvale, the two-building property will feature 479 apartments, 30,000 square feet of retail space and a new public open area at Redwood Square. The public space will function as a “living room” for downtown Sunnyvale, which is anchored by the just-approved mixed-use development and recently opened Whole Foods Market and AMC Theaters. Fifty-three of the apartments will be offered at below-market rate, providing housing for qualifying households with income levels ranging from approximately $55,000 per year up to $130,000 per year. The 200 S. Taafee Street project is the first of four upcoming developments slated for the second phase of CityLine Sunnyvale. The overall project will redevelop four parcels in Sunnyvale’s downtown core into residences, ground-level retail space and office space. Last year, STC Ventures received approval of its Downtown Specific Plan that allows for a buildout of an additional 817 residences and 709,000 square feet of office space above 642,000 square feet of ground-level retail.

January 13, 2021

Development Multifamily Texas

Wood Partners Breaks Ground on 312-Unit Alta Austin Avenue Apartments

by Taylor Williams January 13, 2021

GEORGETOWN, TEXAS — Multifamily developer Wood Partners has broken ground on Alta Austin Avenue, a 312-unit apartment community located in the northern Austin suburb of Georgetown. Units will feature one-, two- and three-bedroom floor plans, as well as stainless steel appliances, granite countertops, tile backsplashes and full-size washers and dryers. Amenities will include a pool, fitness center, clubroom, business center, outdoor kitchen and a dog park. The opening is scheduled for this winter.

January 13, 2021

Newer Posts

Older Posts