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DevelopmentGeorgiaMultifamilySeniors HousingSoutheast

Vitality Living, Hillpointe to Build 332-Unit Seniors Housing Community in Madison, Georgia

by Alex Tostado

MADISON, GA. — Vitality Living has formed a development partnership with Hillpointe LLC to build Vitality Living Madison, which is currently under construction. Upon full buildout, the project will feature 332 units of seniors housing in Madison, which is approximately 60 miles east of downtown Atlanta. Located on 73 acres, Vitality Living Madison will be built in phases. Phase I will feature a mix of two-bedroom independent living villas and one-bedroom apartments, as well as amenities including a fitness center. Phase II will add assisted living and memory care units to the development. A leasing center is already open in advance of the scheduled opening late this year. This will be Vitality’s first community in Georgia. The operator currently has seniors housing assets in Tennessee, Alabama, Texas and Florida.

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DevelopmentNortheastOfficePennsylvania

Oliver Tyrone Pulver Plans to Develop 700,000 SF Office Building in Philadelphia

by Alex Patton

PHILADELPHIA — Oliver Tyrone Pulver Corp., a metro Philadelphia-based developer, plans to build a 700,000-square-foot office building in the Center City area of Philadelphia. The 30-story building will be located adjacent to City Hall at 1301 Market St. and will feature 25,200 square-foot plates on the lower floors and 17,000-square-foot plates on the upper floors. Amenities will include a 10,000-square-foot fitness center, outdoor terraces, a café, bike lockers, conference rooms, casual workspaces and a two-story, glass-enclosed marble lobby. Construction is slated to be completed in 2023. JLL will lead the leasing program at the building.

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DevelopmentFloridaHealthcareOfficeSoutheast

Stevens Construction Breaks Ground on 27,773 SF Medical Facility in Naples, Florida

by Alex Tostado

NAPLES, FLA. — Stevens Construction has broken ground on Executive Medical Center, a planned 27,773-square-foot healthcare facility in Naples. The first floor of the three-story building will feature medical offices, exam rooms and an MRI machine. The second floor will offer medical office space that will be available for lease beginning in March 2021. The third story will include an ambulatory surgery center with operating and outpatient rooms. The facility will be located at 4513 Executive Drive, adjacent to two medical office buildings and 13 miles north of downtown Naples. A timeline for completion was not disclosed.

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arsenal-pittsburgh
DevelopmentMultifamilyNortheastPennsylvania

Milhaus Underway on Phase II of $75M Multifamily Project in Pittsburgh

by Alex Patton

PITTSBURGH — Milhaus, an Indianapolis-based developer, is underway on Phase II of Arsenal 201, a $75 million multifamily project in the Lawrenceville neighborhood of Pittsburgh. Located at 147 39th St., the project will add 343 apartment units in studio, one-, two- and three-bedroom floor plans to the existing 243 units. Amenities will include a fitness center, dog park and pet spa, outdoor kitchen, community courtyard and a pool. Ten percent of the units will be designated as affordable to residents earning 50 percent or less of the median area income. CrossHarbor Capital Partners, Citizens Bank, First Merchants Bank and Commonwealth Bank provided debt and equity financing for the project. Dwell Design Studio designed the project, and Franjo Construction is the general contractor. Construction is slated to be complete in summer 2022.

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ArizonaDevelopmentMultifamilyWestern

Watermark Residential Buys Development Site for $43M Multifamily Community Near Phoenix

by Amy Works

GILBERT, ARIZ. — Watermark Residential, a wholly owned affiliate of Thompson Thrift, has acquired a 10-acre land site located in Gilbert for the development of The Wyatt by Watermark, a $43 million apartment project located at 1205 S. Gilbert Road. Slated for completion in late 2021, The Wyatt will feature 216 one-, two- and three-bedroom apartments averaging 978 square feet. Units will include a gourmet bar-kitchen with granite countertops, stainless steel appliance packages, walk-in closets and full-size washers/dryers. Community amenities will include a clubhouse, 24-hour fitness center, swimming pool with cabana, pet-friendly park and dog spa. The Wyatt is the third of six developments to be funded by the Watermark 3G Development Fund II, which closed in late 2019. Watermark also owns the 250-unit Watermark at Gateway Place in Gilbert.

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DevelopmentIllinoisMidwestMultifamily

Wingspan Development, Integrated Capital Underway on $60M Apartment Community in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Wingspan Development Group and Integrated Capital Management have formed a joint venture to develop Sixteen|30, a $60 million apartment community in Plainfield, about 40 miles southwest of Chicago. The 284-unit garden-style property is located at 14700 Wallin Drive. Amenities will include a clubhouse, swimming pool, fitness center, package room, bark park and bocce ball courts. The project will feature a mix of studio, one-, two- and three-bedroom units in a variety of floor plans. Construction has commenced with completion slated for spring 2021. “Sixteen|30 will provide much needed multifamily housing to the village of Plainfield, which has been a challenging submarket for developers to obtain entitlements for new multi-tenant residential product,” say the developers. “This high barrier to entry and scarcity of supply is further amplified by underserved demand resulting from Plainfield’s close proximity to multiple employment centers, high ranking school district and overall quality of life.”

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DevelopmentMichiganMidwestMultifamily

Barbat Holdings Completes 41-Unit Apartment Conversion Project in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — Barbat Holdings has completed Montgomery Houze, a multi-million-dollar renovation and conversion of the five-story Montgomery Ward building in Ann Arbor. The historic building, located at 212 S. 4th St., is now home to 41 apartment units with a new three-story addition. Amenities include rooftop terraces and the basement of the building now houses Ann Arbor Comedy Showcase. The building formerly served as the Montgomery Ward & Co. department store.

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DevelopmentLoansMultifamilyTexas

JLL Arranges Debt, Equity for 387-Unit Apartment Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — JLL has arranged debt and equity financing for Stillwater Crystal Springs, a 387-unit apartment project in Fort Worth. The community will be situated on roughly seven acres along the Trinity River roughly three miles from the downtown area. Floor plans will consist of studio, one- and two-bedrooms units, and amenities will include a pool, fitness center, outdoor lounge, coworking space and a dog park. De’On Collins led a JLL team that placed a 40-year, floating-rate construction loan through Texas Capital Bank on behalf of the developer, Dallas-based Stillwater Capital. The team also delivered CrossHarbor Capital Partners as the equity investor. Construction is underway and expected to be complete in 2022.

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DevelopmentMultifamilyTexas

Alliance Residential to Develop 336-Unit Apartment Community in Houston

by Taylor Williams

HOUSTON — Multifamily developer Alliance Residential Co. has acquired 13 acres at 12115 Main St. in Houston for the construction of a 336-unit apartment community. The property will be located near the Texas Medical Center and will feature one- and two-bedroom units. Chris Bergmann Jr. of JLL represented the seller, Taeken Ltd., in the land sale. Groundbreaking activities are scheduled to begin next week.

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ONE Metropica Residences Sunrise
DevelopmentFloridaMixed-UseMultifamilySoutheastTop Stories

Metropica Development Completes 28-Story Residential Tower, First Phase of $1.5B Mixed-Use Project in South Florida

by John Nelson

SUNRISE, FLA. — Metropica Development LLC, led by Joseph Kavana of K Group Holdings, has completed the first residential tower within Metropica, a $1.5 billion mixed-use project in the South Florida city of Sunrise. The 28-story ONE Metropica Residences comprises 263 condominiums. The City of Sunrise recently issued Metropica Development LLC a temporary certificate of occupancy (TCO) so that move-ins can begin. Metropica is situated adjacent to Simon’s Sawgrass Mills Mall and in close proximity to Interstates 75, 95 and 595, as well as the Florida Turnpike. As of this writing, 75 percent of the units at ONE Metropica Residences have been purchased by buyers hailing from the United States, Latin America, Europe and Asia. The condos range in size from 961 to 2,022 square feet, and the property’s remaining units are priced ranging from the $400,000s to the $700,000s. Buyers of the move-in-ready units can close on their purchase either in-person or virtually. “We are extremely proud to be delivering our first residential building to the market,” says Bernard Werner, president of Metropica Development LLC. Designed by architectural firms Oppenheim Architecture + Design and YOO Design Group, condominiums at ONE Metropica Residences include floor-to-ceiling glass windows, porcelain tile, smart …

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