AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $42.6 million Freddie Mac permanent loan for the construction of Austin Manor, a 280-unit affordable housing project in East Austin. All of the units will be reserved for renters earning 60 percent or less of the area median income. Austin Manor will offer amenities such as a 6,000-square-foot clubhouse, pool, sports court and a playground, as well as family support services including counseling, adult education, health and nutrition courses and youth programs. Phil Melton and Cindy Hannon of Bellwether originated the loan. The borrower was not disclosed.
LEANDER, TEXAS — Allied Orion Group is nearing completion of The Southbrook, a 360-unit multifamily project that will be located in the northern Austin suburb of Leander. Designed by Dallas-based Humphreys & Partners Architects, the property will offer one, two- and three-bedroom floor plans and amenities such as a pool, fitness center, resident lounge with billiards tables, dog park, courtyard and package delivery services. The first units are expected to be available for occupancy in the fourth quarter.
HOUSTON — McCord Development will build a 101,000-square-foot medical office building within Redemption Square, a mixed-use district within the 4,200-acre Generation Park master-planned development in northeast Houston. Designed by Kirksey Architecture, the five-story building will feature a glass façade with views of the adjacent West Lake Park, ground-floor locker rooms with showers and access to Generation Park’s network of hiking trails. McCord expects to begin construction next year and to complete the project in 2023.
PHOENIX — Trammell Crow Co. (TCC) and its partner, CBRE U.S. Development Partners 5, a fund sponsored by CBRE Global Investors, have completed Park Aldea. The 356,000-square-foot industrial development is located in Phoenix. Situated on 27 acres west of the intersection of 99th Avenue and Cardinals Way, the property features the 74,164-square-foot Building A, the 76,322-square-foot Building B, the 87,296-square-foot Building C and the 118,241-square-foot Building D. The buildings offer divisibility down to 7,280 square feet. The facilities feature ESFR sprinkler systems, clear heights ranging from 24 feet to 32 feet, building depths ranging from 140 feet to 222 feet, and truck courts that range in size from 130 feet to 180 feet. Green Worldwide, an international shipping company, has signed a lease to occupy Building C, located at 10200 W. Montebello Ave. The company plans to move to the new facility at the end of 2020. Mitchell Stravitz, Cooper Fratt and Tanner Ferrandi of CBRE Phoenix serve as leasing agents for the project. Ted Liles of Cresa represented Green Worldwide in its lease.
OVERLAND PARK, KAN. — Occidental Management has unveiled its plans for the former Sprint Corp. headquarters campus in Overland Park. The Wichita, Kan.-based developer acquired the 200-acre property in July 2019 from Sprint. The campus is situated at 6100 Sprint Parkway, 16 miles south of Kansas City, Kan. Occidental will keep existing buildings, which comprise 4 million square feet of office space, and add 2.7 million square feet of residential, retail, restaurant and office space throughout the site. “This first look at development plans for the expansive campus is just the beginning,” says Gary Oborny, chairman and CEO of Occidental. “Our team has spent the past year researching and brainstorming the best approach to bringing an innovative, world-class, live-work-play environment to the center of the country.” Occidental will also manage the leasing of the commercial areas. Space is available at the existing buildings and preleasing is underway for the first ground-up building, which is scheduled for completion in 2021. Occidental also plans to give the property a new name by early 2021. Sprint sold the campus to Occidental when the telecommunications company agreed to merge with T-Mobile. The $26 billion merger was completed in April. A design team and development …
NORTH CHARLESTON, S.C. — Alliance Residential Co. will develop Broadstone Ingleside, a 336-unit multifamily community in North Charleston. The Phoenix-based developer recently closed on the acquisition of a 24-acre parcel situated at 8400 Palmetto Commerce Parkway, 20 miles northwest of downtown Charleston. The property will offer one-, two- and three-bedroom floor plans averaging 926 square feet. Communal amenities will include a pool, fitness center, coworking space and a walking trail. Cline Design Associates is the architect, and Seamon Whiteside is the civil engineer. Alliance Residential expects to open the community in fall 2021.
JACKSON, MISS. — NAI UCR Properties has negotiated the sale of a 1-acre parcel located at 629 Fondren Place and 2820 N. State St. in Jackson. The buyer, Wealth Hospitality Group doing business as entity Fondren Landing LLC, is planning to develop Fondren Landing, a $40 million mixed-use project that will include apartment units, retail space and condominiums. The site is located three miles north of downtown Jackson. A timeline for construction was not disclosed, although local news outlet WJTV reports the property is slated to open in summer 2022. Micah McCullough of NAI UCR Properties represented the seller, a private family based in South Carolina, in the land transaction.
BIRMINGHAM, ALA. — KIRCO has completed construction of The Bluffs at Greystone, a 137-unit seniors housing community in Birmingham. Phoenix Senior Living operates the property, which features 63 independent living units, 50 assisted living units and 24 memory care units. The community features a dog park, indoor pool, bocce ball court, movie theater, game room and an arts and crafts studio. The asset is located at 6328 Farley Lane, 13 miles southeast of downtown Birmingham.
DALLAS — California-based CT Realty has acquired an 18.4-acre infill site in the South Stemmons submarket of Dallas for the development of Stadium Logistics Center, a 329,402-square-foot industrial project that is valued at $40 million. Offering 470 feet of frontage on U.S. Highway 183 just west of the I-35 Stemmons Freeway, the site is located within 7.5 miles of both Dallas Love Field Airport and DFW International Airport. Stadium Logistics Center will feature 36-foot clear heights and a front-park/rear-load configuration. Pross Design Group is the project architect, and Talley Riggins Construction Group is the general contractor. California Bank & Trust provided construction financing. CT Realty expects to break ground later this month and to deliver the project in September 2021. Mike McElwee of Avison Young represented the seller, NCH Corp., in the land deal. Craig Jones and Randy Touchstone of JLL represented CT Realty and will also market the project for lease.
ALLEN, TEXAS — McCarthy Building Cos. has completed construction of Collin College Technical Campus, a 340,000-square-foot civic project located in the northeastern Dallas suburb of Allen. The four-building complex will serve more than 7,000 students and includes 42,000 square feet of shared classroom space for the Allen Independent School District. In addition, the facility features 192,000 square feet of technical and trade classrooms with open lab spaces, mechanical electrical and plumbing shops, welding shops, auto shops, and carpentry shops as well as campus support areas. According to local newspaper The Allen American, this campus of the public college currently has an enrollment of about 1,650 students that are taking both online and in-person classes.