Development

McCarthy Breaks Ground on 400,000 SF Mercy Hospital in Metro St. Louis

by Kristin Harlow May 14, 2025

WENTZVILLE, MO. — McCarthy Building Cos. has broken ground on Mercy Hospital Wentzville, a 400,000-square-foot hospital in Wentzville, a far west suburb of St. Louis. The project marks Missouri’s first new acute care hospital campus in nearly a decade, according to McCarthy. The development will include 75 inpatient acute care beds and a 26-bed emergency department with two trauma areas and four behavioral health rooms. The advanced medical campus will offer a broad range of inpatient and outpatient care, including surgical and specialty options such as cardiovascular, cancer and orthopedics as well as outpatient imaging, diagnostic and treatment services. Crews began preparing the site in late March and will begin work on the central utility plant this summer, with the hospital tower work beginning in early 2026. Construction of the hospital is expected to be completed in four years. The project team includes CannonDesign for architecture and design and IMEG as engineer. Mercy is one of the 15 largest U.S. health systems.

May 14, 2025

Development Illinois Midwest Office

Aspire Properties Spearheads $13M Renovation of Historic Chicago Office Tower

by Kristin Harlow May 14, 2025

CHICAGO — Aspire Properties is underway on a $13 million renovation of 25 E. Washington, a 20-story office tower in Chicago’s Loop. Aspire has handled management and leasing of the property since 1996. The owners are Amsterdam-based Kroonenberg Groep and Aventura, Fla.-based Trump Group. Designed by geniant + Eastlake Studio, the renovation is slated for completion in September. A 15,000-square-foot, seventh-floor amenity center will feature a 3,000-square-foot open-air courtyard, lounge, game room, conference center and fitness facility. With over 45,000 square feet of new and renewed leases in the first quarter of 2025, the Daniel Burnham-designed building now boasts an 85 percent occupancy rate. Recent leasing highlights include: Siteline, which renewed its 13,000-square-foot space; ATS Institute, which expanded by 10,000 square feet; National Community Investment Fund, which relocated from LaSalle Street into more than 4,600 square feet; Millennium Counseling Center, which signed a new 3,500-square-foot lease; and Gertie Enterprises, which leased 3,000 square feet of new space.

May 14, 2025

Development Georgia Mixed-Use Retail Southeast Top Stories

Live Nation to Lease 5,300-Seat Music Venue at $5B Centennial Yards Project in Downtown Atlanta

by Kristin Harlow May 14, 2025

ATLANTA — Centennial Yards Co. has executed a long-term lease with event promoter Live Nation to operate a new live music and entertainment venue in downtown Atlanta. The 5,300-seat venue will anchor the under-construction sports and entertainment district within Centennial Yards, a $5 billion mixed-use project set to transform a long-underutilized section of the city into a walkable destination. The Live Nation theater will showcase a range of performances across genres, from global touring acts to national headliners and local artists. The facility will complement the city’s existing entertainment landscape, including Tabernacle concert hall, Fox Theatre and Buckhead Theatre as well as Mercedes-Benz Stadium (home of the NFL’s Atlanta Falcons and MLS’ Atlanta United) and State Farm Arena (home of the NBA’s Atlanta Hawks). “Centennial Yards is poised to be the epicenter of sports and entertainment for the southeastern United States, where people of all ages can enjoy concerts, sporting events, bars, restaurants and retail stores — all in one vibrant mixed-use district,” says Brian McGowan, president of Centennial Yards Co. “Partnering with Live Nation brings us one step closer to creating a thriving hub where unforgettable experiences happen. This new Centennial Yards entertainment venue is exactly what our region …

May 14, 2025

Development Industrial North Carolina Southeast

Roche, Genentech to Develop $700M Pharmaceutical Manufacturing Facility in Holly Springs, North Carolina

by John Nelson May 13, 2025

HOLLY SPRINGS, N.C. — Genentech, a Bay Area-based biotech firm and member of the Switzerland-based Roche Group, plans to develop a $700 million pharmaceutical manufacturing facility in Holly Springs, approximately 20 miles southwest of Raleigh. The new 700,000-square-foot facility will create 400 high-wage manufacturing jobs and 1,500 construction jobs. The new facility will support Roche and Genentech’s portfolio of next-generation obesity medicines. The construction timeline for the new factory was not disclosed. Roche and Genentech’s current U.S. footprint includes 13 manufacturing and 15 R&D sites across the company’s pharmaceutical and diagnostics divisions. The companies have 25,000 employees in 24 sites across eight U.S. states.

May 13, 2025

Development Florida Hospitality Southeast

Gencom Begins $100M Overhaul of Ritz-Carlton Key Biscayne Miami Resort

by John Nelson May 13, 2025

KEY BISCAYNE, FLA. — Locally based Gencom has begun the $100 million overhaul of The Ritz-Carlton Key Biscayne, Miami resort. The 13-story, 275,000-square-foot hotel is located on a 17-acre site at 455 Grand Bay Drive on Key Biscayne, a barrier island situated south of Miami. Originally built in 2001, the property offers 420 guestrooms and 600 feet of direct beach access. The design team for the resort’s first major renovation includes Hart Howerton (master), Design Agency (public spaces) and Chapi Chapo Design (guestrooms). The overhaul includes new exterior paint and façade elements, a new glass façade in the lobby, redesign of the spa and a new restaurant that will join the existing lineup of eateries that will be refreshed: RUMBAR, Cantina Beach, Dune, Scoop, Stefano’s and Key Pantry. Amenities that will be overhauled include the resort’s swimming pools, fitness center, The Club Lounge and the Cliff Drysdale Tennis Center, which is the largest tennis facility of any Ritz-Carlton resort. Gencom, which co-developed the hotel, expects the renovations to conclude by the end of the year.

May 13, 2025

Development Multifamily North Carolina Southeast

McShane Construction Delivers 397-Unit Apartment Community in Charlotte

by John Nelson May 13, 2025

CHARLOTTE, N.C. — McShane Construction Co., working on behalf of developer Flournoy Development Group, has completed Ellison Mallard Creek, a 397-unit apartment community located at 930 W. Mallard Creek Church Road in Charlotte. Situated on 24.6 acres, the wood-frame property features five apartment buildings and 10 townhome-style buildings that house one-, two- and three-bedroom units. Additionally, 10 units come with a downstairs workspace that allows residents to have an office or small storefront. Monthly rental rates range from $1,411 to $2,800, according to Apartments.com. Designed by Dynamik Design, amenities at Ellison Mallard Creek include a resident lounge with gaming and entertainment areas, a fitness and wellness center, coworking lounge, hobby and art studio, market, heated resort-style pool, courtyards with fire pits, green space, dog park, pet spa and electric vehicle charging stations. McShane Construction is currently building three other apartment communities on behalf of Flournoy.

May 13, 2025

Development Industrial Texas

TCC Breaks Ground on 2.7 MSF Industrial Project at DFW International Airport

by Taylor Williams May 13, 2025

IRVING AND EULESS, TEXAS — Trammell Crow Co. (TCC) has broken ground on Passport Park West, a seven-building, 2.7 million-square-foot industrial project that will be located on Dallas-Fort Worth International Airport grounds. The site spans 180 acres across both Irving and Euless, and Phase I of the development will feature three buildings totaling approximately 1.8 million square feet. The structures will include a 455,992-square-foot, cross-dock facility with 40-foot clear heights; a 1.1 million-square-foot, cross-load facility with 40-foot clear heights; and a 219,298-square-foot, rear-load building with 36-foot clear heights. Alliance Architects is serving as the project architect, and Peinado Construction is the general contractor. CBRE is the leasing agent. Phase I is slated for a first-quarter 2026 completion.

May 13, 2025

Development Multifamily New York Northeast

Triangle Equities, Michaels Begin Leasing 40-Story Apartment Tower in Downtown Brooklyn

by Taylor Williams May 13, 2025

NEW YORK CITY — A partnership between Triangle Equities and The Michaels Organization has begun leasing a 40-story apartment building located at 111 Willoughby St. in downtown Brooklyn. Designed by GF55 and known as Maxwell Downtown Brooklyn, the building offers 227 units, 69 of which are designated as affordable for renters earning 130 percent or less of the area median income. Residences come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz-stone countertops, tile backsplashes and in-unit washers and dryers. Amenities include multiple lounging areas, a coworking zone, gaming area, private dining and party room and a resident-only coffee bar, as well as a landscaped roof deck with dining and lounge seating, a viewing bar and grilling stations. The partnership, which also includes financiers Geolo Capital and Helaba Bank, developed the property via a ground lease with The Roman Catholic Archdiocese of Brooklyn. Information on starting rents was not disclosed.

May 13, 2025

Development Montana Retail Western

Kraus-Anderson Starts Construction on 400 Horses Casino in Polson, Montana

by Amy Works May 13, 2025

POLSON, MONT. — Kraus-Anderson has begun construction on 400 Horses Casino, formerly West Polson Casino, a new gaming facility in Polson. The casino will be built on tribal land by S&K Gaming (Salish & Kootenai). Designed by LSE Architects, the project will feature a 34,227-square-foot, family-friendly casino with 300 gaming machines and space for future expansions. Additionally, the casino will include a restaurant and 400 parking spaces. Construction is slated for completion this summer.

May 13, 2025

Development Midwest Minnesota Retail

Kraus-Anderson Completes Redevelopment Project at Galleria Mall in Edina, Minnesota

by Kristin Harlow May 13, 2025

EDINA, MINN. — Kraus-Anderson Construction (KA) has completed a redevelopment project at Galleria in Edina, transforming a key section of the mall into a new retail area anchored by an expanded space for lifestyle and home furnishings brand Arhaus. Designed by Cuningham Architects, the two-story, 53,536-square-foot core and shell features a 25,000-square-foot showroom for Arhaus, which is slated to open this fall. The redevelopment also accommodates three additional tenants, including Sweet Paris Crêperie, which is also scheduled to open this fall. The other two retailers will debut in 2026. The scope of work included the full interior demolition of both lower and main levels. KA raised the roof by 10 feet, created a concourse with clerestory windows and installed a glass elevator. In addition to the interior remodel, the project also incorporated exterior and site improvements, including new drive lanes connecting Galleria’s parking areas, a new underground stormwater retention system, upgraded electrical and water services, new concrete and asphalt paving, irrigation and landscaping. Construction began in February 2024. Hines, which manages the Galleria, served as construction manager and owner’s representative on the project.

May 13, 2025

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