FORT WORTH, TEXAS — Developer Nichols Trinity LLC has begun leasing Cityscape Arts, a 56-unit apartment community located near downtown Fort Worth’s Arts District and Sundance Square. The property features one- and two-bedroom units ranging in size from 690 to 1,260 square feet and amenities such as fitness center, rooftop lounge, dog park, conference room and private offices.
CLEMSON, S.C. — The Preiss Co. has broken ground on Signature Hartwell Village, a planned 433-bed student housing community that will service Clemson University students. The property is located at 13060 Clemson Blvd., less than one mile from campus. Communal amenities will include a 24-foot jumbotron, fire pits, grills, dog park, cornhole court, pool with in-water lounging deck, cabana with misters, lounge room with an 82-inch TV, fitness center, access to study rooms and a package locker system. The property will offer one- to four-bedroom floor plans, each equipped with a 50-inch smart TV, furniture, stainless steel appliances, granite countertops, plank vinyl flooring throughout the unit and in-unit laundry. BSB Design is the architect on the project and Boarman Kroos Vogel Group Inc. is serving as the interior designer. Preiss expects the community to open in fall 2021. Signature Hartwell Village will be part of the 45-acre Hartwell Village mixed-use development. Hartwell Village features residential, dining options and retail space, including Aldi, Petco, Marshalls and multiple hotels.
GLENDALE, ARIZ. — Scottsdale, Ariz.-based Diversified Partners has broken ground for En Fuego, a retail, office and flex development located at 91st and Glendale avenues in Glendale. The first phase of En Fuego will include retail pads ranging in size from 3,000 square feet to 15,600 square feet. Starbucks Coffee, Raising Cane’s Chicken Fingers, Barro’s Pizza, Biscuits Café and Jack in the Box have pre-leased space at the property. The second phase of development will include 8.32 acres of office, flex or entertainment space.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has negotiated the sale of 5.3 acres in Richmond for a seniors housing development. Temple Beth El sold the land to Chicago-based development firm CA Ventures for $3.8 million. The development will feature independent living, assisted living and memory care units. The property is situated at 601 N. Parham Road, 10 miles west of downtown Richmond. David Smith of Cushman & Wakefield | Thalhimer represented the buyer, which will also operate the property, in the transaction. Temple Beth El was formed in November 1931 and is located in downtown Richmond.
NASHVILLE, TENN. — Capstone Land Sales has arranged the $3.5 million sale of a 33-acre plot in Nashville’s Cane Ridge neighborhood. The buyer, Tampa-based 2nd Wave Development, plans to construct a 300-unit multifamily community on the site. The developer plans to break ground this summer. Further details of the community were not released. Adam Klenk, Austin Heithcock, Tyler Mayo and Jonathan Hawks of Capstone represented the buyer in the transaction. An undisclosed local family sold the land.
DENVER — The Opus Group has purchased a 1.65-acre land parcel at 19th and Clay streets in Denver for the development of an apartment property. The Nichols Partnership sold the property for an undisclosed price. The vacant lot and parking garage are located adjacent to the Broncos stadium redevelopment in the city’s Jefferson Park neighborhood. The current plans for the multifamily property include a 12-story building offering 277 apartments in a mix of studio, one- and two-bedroom units, averaging 763 square feet, and three levels of structured parking with 288 parking spaces. Planned amenities include premium finishes and unobstructed mountain and city views. Newmark Knight Frank (NKF) Multifamily arranged the sale, construction financing and joint venture equity for the project’s development. Chris Cowan, Bryon Stevenson and Mackenzie Walker of NKF Multifamily handled the transaction.
CHICAGO — Sheba Medical Center will anchor a global health and wellness innovation hub in Phase I of a 100-acre mixed-use project to be developed on the former Michael Reese Hospital site in Chicago’s Bronzeville neighborhood. GRIT, a joint venture comprised of Farpoint Development, Bronzeville Community Development Partnership, Chicago Neighborhood Initiatives, Draper and Kramer, Loop Capital and McLaurin Development, is developing the project in partnership with Kaleidoscope Health Ventures. Known as the ARC Innovation Center, the building will include wet labs, incubators and other life sciences offices and commercial facilities. The entire project will include multifamily, affordable housing, retail, senior living, community space and a proposed new Metra station. Construction on Phase I is expected to begin in 2021.
HUNTSVILLE, ALA. — Walker & Dunlop has provided a $51.9 million construction loan to Spring Bay Property Co. and RCP Cos. for Eclipse at CityCentre, a planned five-story, 278-unit apartment complex in downtown Huntsville. Walker & Dunlop provided the loan through the United States Department of Housing and Urban Development’s (HUD) 221(d)(4) construction program, which includes both construction and permanent financing in a single loan. The two-year term for the construction period is followed by a 40-year, fully amortizing, fixed-rate loan. The property is situated within an Opportunity Zone, meaning the developers are required to hold the asset for at least 10 years in order to not pay capital gains on the investment. Keith Melton, David Strange, Livingston Hessam and Jeremy Pino of Walker & Dunlop originated the loan on behalf of the borrowers. Once complete, Eclipse at CityCentre will offer studio, one- and two-bedroom floor plans. The majority of the apartments will feature private balconies. Community amenities will include a heated pool, fitness center, pet walking and grooming area, grilling areas, outdoor fire pit and views of Big Spring Park. A timeline for construction was not disclosed. Eclipse at CityCentre will sit atop 18,000 square feet of restaurant and retail space and …
VENICE, FLA. — Stevens Construction has completed a renovation of The Lofts, a five-story, 80,000-square-foot assisted living and memory care building within Village On The Isle, a nonprofit continuing care retirement community in Venice. Renovations were done floor by floor to minimize impact on residents. Stevens replaced interior finishes, upgraded the façade and reworked the unit floor plan options. Stevens Construction also replaced the plumbing, mechanical and electrical systems of the 35-year-old building. The Stevens Construction team included Dan Adams, Jon Zander, Mark Battaglia and Sue Ziegenfus. RLPS Architects provided the design.
TUCKER, GA. — Sugar Bowl Bakery will open a manufacturing facility in Tucker. The family-owned bakery expects to create 400 jobs and invest $37 million over the next five years. The property is situated at 3301 Montreal Industrial Way, 15 miles northeast of downtown Atlanta. The new positions available will include bakery management, production, quality assurance, maintenance, warehousing and sanitation. Further details about the facility were not disclosed. The Ly family founded Sugar Bowl Bakery in 1984 in San Francisco. The Tucker facility is the company’s first location on the East Coast.
