Development

Namhawk to Develop $300M Carrollton Gateway Mixed-Use Project in Metro Dallas

by Taylor Williams March 12, 2020

CARROLLTON, TEXAS — Locally based developer Namhawk LLC will develop Carrollton Gateway, a $300 million mixed-use project that will be located adjacent to Interstate 35 in the northern Dallas suburb of Carrollton. The first phase of the transit-oriented development calls for a 325-unit multifamily property with a fitness center, pool and coworking and meeting spaces. Phase II will feature a 150,000-square-foot office building. Namhawk is also planning a hotel as part of the project. Namhawk has selected The Ratliff Group to provide construction and program management services for the project. A construction timeline has not yet been released.

March 12, 2020

Development Multifamily Texas

Michaels Organization Breaks Ground on $59M Zoey Apartment Community in Austin

by Taylor Williams March 12, 2020

AUSTIN, TEXAS — The Michaels Organization, a residential development and management firm, has broken ground on Zoey, a $59 million apartment community located at 5700 E. Riverside Drive in the Pleasant Valley neighborhood of Austin. The property will feature 307 units in studio, one- and two-bedroom formats and amenities such as a pool, dog wash station, fitness center, coworking spaces and resident lounges. Completion of the project, which will be Michaels’ first in Austin, is slated for late summer 2021. Dallas-based MSC Architects LLC is designing the community. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia delivered an unnamed New York City-based REIT as an equity partner for the project.

March 12, 2020

Arizona Development Loans Multifamily Western

PCCP Provides $49.2M Loan for the Development of 458-Unit Apartment Asset in Phoenix

by Amy Works March 12, 2020

PHOENIX — PCCP has provided a $49.2 million senior loan to Vancouver, Wash.-based IDM Cos. for the ground-up development of Acero Algodon. The Class A, garden-style multifamily community will be located in the West Valley of Phoenix. Situated on 20.5 acres along North 91st Avenue, Acero Algodon will offer 458 apartments in a mix of 196 one-bedroom units, 238 two-bedroom units and 24 three-bedroom units, spread across 24 three-story buildings. All floor plans will feature quartz countertops, stainless steel appliances, vinyl plank flooring with carpeted bedrooms, walk-in closets, in-unit laundry rooms and private patios or balconies. On-site amenities will include 901 parking spaces, two resort-style swimming pools, a fitness center with yoga and spin studio, business center, community lounge and kitchen, game room, dog park, and barbecue and picnic areas. Construction is scheduled to start soon, with the first units planned for delivery in mid-2021. Total build-out is slated for completion in mid-2022. David Kidder, Adam Deermount, Steve Sims and John Meek of Landmark Real Estate arranged the financing.

March 12, 2020

Development Illinois Midwest Multifamily Seniors Housing

Condor Partners, Solera Senior Living to Develop $75M Community in Evanston, Illinois

by Kristin Harlow March 12, 2020

EVANSTON, ILL. — Developer Condor Partners and seniors housing operator Solera Senior Living are developing Trulee Evanston, a 163-unit luxury community in Evanston. A JLL Capital Markets team led by Joel Mendes arranged construction debt and joint venture equity for the project. A national bank provided the debt and an institutional private equity fund manager provided the equity. Total project costs are estimated at $75 million. Construction will commence immediately with completion slated for 2021. The nine-story development will feature a mix of private independent living, assisted living and memory care units. Trulee will include multiple terraces and views of downtown Evanston and Lake Michigan.

March 12, 2020

Development Illinois Midwest Retail

Draper and Kramer Completes Phase II Renovations at Shopping Center Anchored by Jewel-Osco in Chicago

by Kristin Harlow March 12, 2020

CHICAGO — Draper and Kramer Inc. has completed the second phase of its ongoing renovation of Lake Meadows Market in Chicago’s Bronzeville neighborhood. The final element of Phase II was a full interior and exterior renovation of the shopping center’s 193,000-square-foot Jewel-Osco grocery store. Jewel-Osco parent company Albertsons shared costs of the $2.3 million project, which also included the addition of a mural entitled “Heart of Bronzeville” by local artist Corey Jenkins. Previous Phase II work included the addition of more than 18,000 square feet of new and renovated retail space for new tenants, including Taco Bell, Wing Stop, Home Run Inn Pizza and Sola Salon Studios and Culver’s. Camburas & Theodore Ltd. Served as the architect for the Jewel-Osco renovation and Powers & Sons Construction Co. was the general contractor.

March 12, 2020

Development Industrial New Jersey Northeast

Johnson Development to Build 266,966 SF Industrial Development in Burlington, New Jersey

by Alex Patton March 12, 2020

BURLINGTON, N.J. — Johnson Development Associates will build a 266,966-square-foot warehouse facility in Burlington, a southern suburb of Trenton. The project, which will be branded Exit 5 Distribution Center, will be constructed on a 59.3-acre industrial site located at 107 Elbow Lane. Delivery is scheduled for the fourth quarter. Dan McGovern, Paul Touhey and Drew Green of CBRE represented Johnson Development in the 59.3-acre land acquisition, which closed as an off-market transaction. Seacalco LLC was the seller. The sales price was undisclosed.

March 12, 2020

Arkansas Development Office Southeast

Cawley Partners Breaks Ground on 150,000 SF Office Building for Transplace in Rogers, Arkansas

by Alex Tostado March 11, 2020

ROGERS, ARK. — Cawley Partners has broken ground on a three-story, 150,000-square-foot office building in Rogers that will serve as a regional operations center for Transplace, a provider of logistics technology and services. The Frisco, Texas-based firm will occupy the entire building upon completion, which is slated for May 2021. The property is situated at 4909 W. Magnolia St., three miles west of downtown Rogers. Atlanta-based Corgan designed the building that will include courtyards, lighted pedestrian walkways, a retention pond and more than 1,000 parking spaces. Cawley Partners will serve as owner-developer. Robbie Baty, Bill McClung and Marshall Saviers of Cushman & Wakefield represented the tenant in the leasing negotiations.

March 11, 2020

Development Multifamily New Jersey Northeast

CMT Developers Underway on 514-Unit Multifamily Project in Elizabeth, New Jersey

by Alex Patton March 11, 2020

ELIZABETH, N.J. — CMT Developers LLC is underway on development of Jersey Walk, a 514-unit multifamily project in Elizabeth, a southwestern suburb of New York City. The Class A project, which will be located at 901 E. Jersey St., will be developed in two phases. Phase I will include two buildings totaling 218,292 square feet, which will feature 274 units in studio, one- and two-bedroom floor plans. Phase I will also include 3,000 square feet of ground-floor retail space and amenities including a gym, indoor pool and rooftop lounge. Phase II will include two six-story buildings featuring 240 units. The project is a repositioning of the former Elizabeth General Hospital, which has been vacant for more than 20 years. The new development plans to renovate and incorporate a 540-space, freestanding parking garage retained from the hospital. Parkview Financial has provided a $56 million construction loan for Phase I, which is slated for completion in spring 2021. The construction timeline for Phase II has not yet been determined.

March 11, 2020

Development Retail Texas

Brookshire Grocery Co. to Open 55,000 SF Store in Fate, Texas

by Taylor Williams March 11, 2020

FATE, TEXAS — Brookshire Grocery Co., a Tyler, Texas-based chain that operates about 180 grocery stores in Texas, Louisiana and Arkansas, will open a FRESH by Brookshire store in Fate, located about 30 miles northeast of Dallas. The store will span a minimum of 55,000 square feet and will be located at the corner of Interstate 30 and Memorial Parkway. Construction is scheduled to begin by the end of the year, and the store is slated to open in late 2021.

March 11, 2020

Development Multifamily New Jersey Northeast

TFE Properties Opens 117-Unit Luxe Apartments in Woodbridge, New Jersey

by Alex Patton March 11, 2020

WOODBRIDGE, N.J. — TFE Properties has opened Luxe Apartments, a 117-unit multifamily property in Woodbridge, a southwestern suburb of New York City. Located at 1 Woodbridge Center across from Woodbridge Center Mall, the property features one- and two-bedroom floor plans with amenities including a fitness center and a yoga studio. The residential space is located on floors three through nine, and the second floor features 18,000 square feet of office space.

March 11, 2020

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