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DevelopmentIndianaMidwestMultifamily

Milhaus, Kite Realty Group to Develop $40M Apartment Project at Glendale Town Center in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Milhaus and Kite Realty Group Trust have unveiled plans to develop AYR, a $40 million apartment development at Glendale Town Center in Indianapolis. The developers identified underutilized land to be transformed into the 267-unit multifamily project. Milhaus and Kite will also build new bike lanes, a left turn lane and green spaces. Completion of the apartments is slated for 2021. Glendale Town Center, a shopping center dating back to 1958, is home to tenants such as Target and Lowe’s. The name AYR comes from the department store L.S. Ayres & Co., which was part of Glendale Town Center when it first opened.

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DevelopmentIndustrialMidwestWisconsin

Principle Construction Completes 96,305 SF Expansion at Wisconsin Industrial Building

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Principle Construction Corp. has completed a 96,305-square-foot expansion to a 194,611-square-foot industrial building located at 10411 80th Ave. in Pleasant Prairie. Principle, which constructed the original building in 2017, completed the expansion on a speculative basis on behalf of the new owner STAG Industrial. The property features a clear height of 36 feet, 20 dock doors, 81 auto parking stalls and office space. Partners in Design Architects provided design services.

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Springline-Menlo-Park-CA
CaliforniaDevelopmentMixed-UseMultifamilyOfficeRestaurantRetailWestern

Presidio Bay Ventures Takes Overs Construction of Mixed-Use Development in Menlo Park, California

by Amy Works

MENLO PARK, CALIF. — San Francisco-based Presidio Bay Ventures has taken over construction, lease-up and stabilization of the 6.4-acre mixed-use development, located at 1300-1302 El Camino Real and 550 Oak Grove Ave. in Menlo Park. The strategic operation of the project, renamed Springline, was transitioned to Presidio Bay mid-construction in June. Since then, the firm’s development team has overhauled nearly all aspects of the project. Situated in Menlo Park’s pedestrian-oriented downtown city center, Springline will feature two 100,000-square-foot Class A office buildings, 183 residences, retail, dining, a dual-level subterranean parking garage and public outdoor space. Approved by Menlo Park City Council in early 2017, original construction for the project started later that year. Delivery of the commercial buildings is slated for fourth quarter and leasing of the residential component is scheduled to begin in second-quarter 2021. Christian Prelle, Mike Courson and Clay Jones of Newmark Knight Frank’s Palo Alto, Calif., office, along with Cassidy Zerrer of NKF’s San Francisco office, are handling office leasing efforts for the project.

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ONE at the Peninsula
DevelopmentMidwestMixed-UseOhioTop Stories

Flaherty & Collins Breaks Ground on $250M Phase I of The Peninsula Mixed-Use District in Downtown Columbus, Ohio

by Katie Sloan

COLUMBUS, OHIO — Flaherty & Collins Properties has broken ground on Phase I of The Peninsula, a $500 million mixed-use redevelopment of 27 acres of land along the Scioto River in downtown Columbus.  The $250 million first phase of development will include ONE at the Peninsula, an $85 million apartment complex featuring 12,000 square feet of ground-floor retail; an eight-story, 232,000-square-foot speculative office building; and a 132,000-square-foot, 197-key independent hotel. First National Bank of Omaha, First Merchants Bank and 50 East Capital are financing construction of the apartment property.  The community will offer shared amenities including an 11th-floor sky deck with a swimming pool; a rooftop clubroom with a community kitchen, bar and gaming space; an outdoor grilling patio; a private gated courtyard; pet spa; and a fitness center with space for yoga and virtual fitness classes. Columbus-based Daimler Group Inc. is developing the speculative office building and Rockbridge is developing the hotel project. A timeline for Phase I of the development was not announced.  The City of Columbus plans to issue $30 million in bonds to finance the construction of two parking garages totaling 1,400 spaces to serve the development. At completion, The Peninsula will feature 2 million square feet of …

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DevelopmentFloridaMultifamilySoutheast

Ram Realty Advisors Delivers 243-Unit Multifamily Community in Fort Lauderdale

by Alex Tostado

FORT LAUDERDALE, FLA. — Ram Realty Advisors has delivered CURV, a 243-unit multifamily community in Fort Lauderdale. The property offers one-, two- and three-bedroom floor plans ranging from 748 to 1,603 square feet with rents starting at $2,010 per month. Communal amenities include a pool, private cabanas, outdoor kitchen with grills and a TV, fitness center, yoga studio, pet grooming salon and electric car chargers. CURV is situated at 410 SE 16th Court, two miles south of downtown Fort Lauderdale. Bozzuto manages and heads leasing for the eight-story asset. Virtual leasing is underway at CURV, which is named for its curved facade reminiscent of Miami decor in the 1950s and 1960s. The City of Fort Lauderdale issued the developer a temporary certificate of occupancy Aug. 26.

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DevelopmentHospitalityIllinoisMidwest

29-Story Hotel Audrey Opens on Chicago’s Magnificent Mile

by Kristin Harlow

CHICAGO — Oxford Hotels & Resorts LLC, the Chicago-based hotel management affiliate of Oxford Capital Group LLC, has opened Hotel Audrey at 166 E. Superior St. within Chicago’s Magnificent Mile shopping district. Oxford worked with Fillmore Capital Partners to reposition the 29-story hotel, which was originally developed as The Barclay Hotel. Each of the 216 guestrooms and suites includes an executive desk, ergonomic chair, 55-inch flatscreen TV, coffeemaker and complimentary Wi-Fi. The suites include a separate living area with a sleeper sofa. Rooms start at $159 per night. The fitness center is equipped with ellipticals, treadmills and other workout machines. Due to COVID-19, all areas of the hotel are sanitized at an increased frequency with approved disinfecting products. The rooftop bar, café and meeting spaces will not open until 2021.

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DevelopmentIllinoisMidwestMultifamily

McShane, UJAMAA Complete Construction of Mixed-Income Apartment Community in Chicago

by Kristin Harlow

CHICAGO — McShane Construction Co. and UJAMAA Construction have completed 4400 Grove, an 84-unit apartment complex in Chicago’s Bronzeville neighborhood. Brinshore Development and the Michaels Organization are the developers for the four-story project, which features commercial space on the ground floor. Of the property’s 84 units, 21 are reserved for Chicago Housing Authority residents, 38 are affordable at 60 percent of the area median income and 25 are market rate. Amenities include a lounge, bike room, fitness center, mailroom and conference rooms. Pappageorge Haymes Partners was the architect.

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DevelopmentMidwestMinnesotaMultifamily

Ackerberg, Northland to Develop 192-Unit Apartment Project in Downtown St. Paul

by Kristin Harlow

ST. PAUL, MINN. — Ackerberg has acquired land at 337 W. 7th St. in downtown St. Paul with plans to develop The Alvera, a 192-unit apartment project. Northland Real Estate Group will serve as co-developer. Plans call for the demolition of an existing building to make way for the seven-story project, which will feature studios, one- and two-bedroom units as well as 1,400 square feet of retail space and 110 covered parking stalls. Amenities will include a penthouse clubroom with a kitchen and bar, an outdoor deck with fireplace and grills, a fitness center, bike room, package center and storage lockers. Construction is scheduled to begin later this month with completion slated for fall 2021. Opus Design Build will serve as general contractor and Rise Modular will provide modular units. DJR Architecture and E. Christen Design make up the design team. Bridgewater Bank is providing construction financing.

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DevelopmentMassachusettsMultifamilyNortheast

Arx Urban Nears Completion of 36-Unit Workforce Housing Project in Boston

by Taylor Williams

BOSTON — Developer Arx Urban is nearing completion of a 36-unit workforce housing project located at 233 Hancock St. in Boston’s Dorchester neighborhood. Boston-based RODE Architects designed the project, construction of which began in December 2018 and is expected to wrap up by the end of the month.

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The-Aver-Watertown
DevelopmentMassachusettsMultifamilyNortheast

Amstel Heritage Opens 25-Unit Aver Apartments in Metro Boston

by Taylor Williams

WATERTOWN, MASS. — Amstel Heritage Development has opened The Aver, a 25-unit luxury apartment complex located in the western Boston suburb of Watertown. The unit mix consists of two studio apartments, two one-bedroom units and 21 two-bedroom units with stainless steel appliances, quartz countertops and in-unit washers and dryers. Construction began in 2018.

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