HOUSTON — Houston-based energy firm Max Midstream has acquired land and infrastructure in southeast Texas to develop a pipeline that will connect the Port of Calhoun to both the Eagle Ford and Permian Basin areas, a project that is valued at more than $1 billion. The project is also expected to create nearly 500 new direct jobs and another 600 construction-related jobs over the next 10 years. Max Midstream has entered into a public-private partnership with the Port of Calhoun, located roughly midway between the Ports of Galveston and Corpus Christi, in which Max Midstream will invest $360 million in the widening and deepening of the port’s channels. Exports will begin with completion of the first phase in late 2020. The second phase of the project is expected to be complete by 2023.
BOSTON — HYM Investment Group has received approval from the Boston Planning and Development Agency (BPDA) for the redevelopment of Suffolk Downs, a 161-acre former thoroughbred horse track and racing facility, into a mixed-use district. Approved plans for the project include 10,000 residential units, 20 percent of which will be designated affordable housing; 40 acres of publicly accessible parks and open space; and 3 million square feet of office and retail space. HYM purchased the property in 2017 for $155 million and the racetrack officially closed in summer 2018. Thursday’s vote of approval marks the end of a three-year community review process, during which the company held over 450 meetings with community group members, elected officials and staff, and neighbors to hear and incorporate community feedback. HYM is now cleared to begin construction on the project, which might take up to 20 years to complete and will cost $8 billion, according to reports by WBUR, Boston’s NPR news station. Designs for the project also include the construction of a major extension of the Mary Ellen Welch Greenway, a public pathway and park in East Boston connecting Piers Park, Memorial Stadium, Bremen Street Park, Wood Island Bay Marsh and Belle Isle Marsh. …
BLOOMINGDALE, GA. — PCCP LLC and Panattoni Development Co. Inc. have formed a joint venture to develop a 2.4 million-square-foot industrial campus within Savannah Portside International Park in Bloomingdale. The spec project will be built in phases, with Phase I comprising a 518,400-square-foot facility. The building will feature 40-foot clear heights and can be expanded to 1.1 million square feet. A timeline for completion was not disclosed. The developers are targeting tenants seeking anywhere from 200,000 square feet to 2.4 million square feet. Savannah Portside International Park is situated near Interstate 16, 19 miles from the Port of Savannah.
FORT WORTH, TEXAS — Schluter-Systems, a German provider of tile products for the homebuilding industry, has opened a 500,000-square-foot distribution center at Alliance Northport 1 in Fort Worth. The facility was designed to house approximately 300 employees and offers proximity to Interstate 35, State Highway 114 and Fort Worth Alliance Airport. Tom Pearson and Chris Teesdale of Colliers International originally represented Schluter-Systems in its site selection and lease negotiations when the company committed to the 26,000-acre AllianceTexas development last fall.
DALLAS — August Real Estate, a Dallas-based development firm founded by brothers and industry veterans Evan and Jordan August, has launched with two redevelopment projects in the city’s historic Deep Ellum neighborhood. The first project involves the restoration of The Continental Gin Building, which was built in 1888, into a modern office complex with the feel of a boutique hotel that will feature a 22,000-square-foot coworking space from local operator Common Desk. August is also renovating the building at 333 1st Ave., which was built in 1926 and most recently occupied by Nordstrom’s Trunk Club, to offer 36,000 square feet of office space. The projects are expected to be complete in the first and second quarters of 2021, respectively.
BOSTON — International developer Skanska has topped out a new 118,000-square-foot building at Brookline High School by the MBTA Green Line Brookline Hills station in Boston. The building will include classrooms for physics, special education and general use, dedicated event space, dining and food service areas, a library, various collaboration spaces and room for general administrative work. Completion is slated for November 2021. In addition, Skanska is renovating an existing building to feature 70,000 square feet of biology and chemistry labs and classrooms, collaboration and maker spaces, a culinary arts kitchen and a student restaurant with café seating.
WILKES-BARRE, PA. — CHC Hotel Capital has arranged a $10.5 million construction loan for a Home2 Suites by Hilton property in Wilkes-Barre, located south of Scranton. The property will feature 107 rooms and is expected to be complete in late spring of next year. The loan was structured with a 30-month term and a 75 percent loan-to-value ratio. The borrower and lender were not disclosed.
LA PORTE, IND. — Flaherty & Collins Properties has broken ground on The Banks, a $35 million apartment complex in La Porte, about 30 miles west of South Bend. In addition to 194 apartment units, The Banks will feature 5,000 square feet of retail space and will be situated on four acres within the larger NewPorte Landing development. Amenities will include a pool, outdoor courtyard, bark park, fitness center and bike storage. Lake City Bank served as construction lender and Foss purchased tax credits for the project. The La Porte Redevelopment Commission is supporting the project with tax-increment financing. Completion is slated for the first quarter of 2022.
CHICAGO — The Meadow, a 3.5-acre rooftop terrace, has opened at The Old Post Office building in Chicago. Situated on the 13th floor, the space includes a basketball court, running track and bistro and bar area. The rooftop park is part of the 2.5 million-square-foot restoration and repositioning of the building, which reopened in November 2019. Tenants include Uber, Walgreens, Ferarra Candy Co., HomeChef and Cboe. Gensler and Hoerr Schaudt Landscape Architects designed the rooftop. BEAR Construction served as general contractor. “The Meadow represents a timely launch of next-generation tenant amenities, offering workers access to ample outdoor space that allows for multiple modes of use,” says Sheryl Schulze, principal and global repositioning and landlord services leader at Gensler. “Access to daylight, outdoor air and contact with nature is no longer an option; it’s an expectation.”
MADISON, MINN. — Kraus-Anderson has begun the construction of a $15 million expansion at Madison Healthcare Services in western Minnesota. The healthcare facility was originally constructed in 1952. The 52,639-square-foot renovation and expansion will include 37 new skilled nursing units, 12 assisted living units and 12 underground car parking spaces. Designed by HGA Architects, the project is slated for completion in summer 2022. Madison Healthcare Services provides skilled nursing, outreach specialty services, home care services, independent living, therapy services and a critical access hospital.