Development

Sprouts Farmers Market to Open New Store in Baltimore on Wednesday

by Alex Tostado July 21, 2020

BALTIMORE — Sprouts Farmers Market will open a new store in Baltimore on Wednesday, July 22. The store, located at 3800 Boston St., will be the fifth location in Maryland for the Phoenix-based grocer. Sprouts is following CDC guidelines at the location, requiring employees to wear masks, promoting social distancing and installing plexiglass barriers at registers. The new Sprouts will be part of Collective at Canton, a 12-acre mixed-use development featuring multifamily units, an office building, hotel and retail and restaurant space. Developer 28 Walker is building the project. Ryan Wilner, Andrew Feldman and Mason Bernstein of KLNB are leading the retail leasing efforts for the development.

July 21, 2020

Development Loans Multifamily New Jersey Northeast

JLL Arranges Construction Financing for Multifamily Project in Maplewood, New Jersey

by Taylor Williams July 21, 2020

MAPLEWOOD, N.J. — JLL has arranged an undisclosed amount of construction financing for a multifamily project that will be located at 104 Baker St. in Maplewood, a western suburb of Newark. The 25,000-square-foot property will feature 11 apartments and 3,500 square feet of retail and parking space. Michael Klein and Max Custer of JLL arranged the loan through Provident Bank on behalf of the borrower, Iron Ore Properties. Completion of the project is scheduled for fall 2021.

July 21, 2020

California Development Multifamily Seniors Housing Western

Ryan Cos. Completes 182-Unit Seniors Housing Community Near San Diego

by Amy Works July 21, 2020

RANCHO BERNARDO, CALIF. — Ryan Cos. has completed construction of Silvergate Rancho Bernardo, an 11-acre seniors housing campus in Rancho Bernardo, approximately 25 miles north of San Diego. AmeriCare Health & Retirement developed the community, which Ryan Cos. built. The development features of 20 cottages, 108 apartments, six penthouse units and 48 memory care units, and was 90 percent pre-leased. The apartments range from 400 square feet to 1,200 square feet, while the cottages run between 1,400 square feet and 1,600 square feet. Silvergate Rancho Bernardo is AmeriCare’s third development of its kind and is considered the company’s flagship community. Warner Design Associates handled interior design.

July 21, 2020

Development Loans Multifamily Utah Western

Trez Capital Closes $12.1M in Construction Loans for Two Multifamily Projects in Utah

by Amy Works July 21, 2020

OGDEN, UTAH — Trez Capital has closed two construction loans, totaling $12.1 million, for the development of two rental townhome communities along Canyon Road in Ogden approximately 40 miles from Salt Lake City. The two loans are part of Trez’s first financing agreement with the borrower, Lotus Co., to develop Class A affordable townhome rental properties. Construction for both properties, Foxridge and Whisperwood, began in January. Foxridge features 38,000 square feet of rentable space divided into 26 townhomes with two- and three-bedroom floor plans. Completion of Foxridge is slated for December. Totaling 57,000 rentable square feet, Whisperwood will feature 40 townhomes in a mix of two- and three-bedroom layouts. All units offer a high-end design with two-car garages and energy-efficient upgrades. Completion is scheduled for February 2021. Interiors of both properties will feature stainless steel appliance packages and custom kitchens with high-end countertops, upgraded plumbing and electrical fixtures and oversized windows. The properties will also offer residential community space, including barbecues, walking paths and gazebos.

July 21, 2020

Development Florida Mixed-Use Retail Southeast

Skanska USA Completes $92M Renovation of St. Petersburg Pier, Adds New Shops and Restaurants

by Alex Tostado July 20, 2020

ST. PETERSBURG, FLA. — Skanska USA has completed a $92 million renovation of the historic St. Petersburg Pier on behalf of the City of St. Petersburg. The 26-acre area now includes 44,000 square feet of retail and restaurant space, including the St. Pete Museum of History and Tampa Bay Watch Discovery Center. Other tenants include The Driftwood Café; Doc Ford’s Rum Bar & Grille; Spa Beach Bistro; Teak, a waterfront restaurant; and Pier Teaki, a rooftop bar. The five-story Pierhead building includes shops and a fishing platform. The pier area also includes the 35,000-square-foot Pier Plaza, which includes a playground, splash pad and seating areas. The 1,400-foot St. Petersburg Pier, which juts out into Tampa Bay, was originally built in 1889 and is the eighth pier in the city’s history. Rogers Partners, ASD | SKY and landscape architect Ken Smith Workshop designed the project.

July 20, 2020

Development Florida Retail Southeast

Pebb Enterprises to Build Publix-Anchored Shopping Center in Metro Jacksonville

by Alex Tostado July 20, 2020

ST. JOHNS, FLA. — Pebb Enterprises has unveiled its plans for a new 58,900-square-foot, Publix-anchored shopping center in St. Johns. Publix will occupy 48,400 square feet at the center, which will feature 10,500 square feet of in-line retail space. Publix Liquor Store and Lavender Spa have also signed leases at the space. Pebb Enterprises closed on the $2.8 million land sale July 10 and has begun site work. The Boca Raton, Fla.-based developer expects to deliver the property in summer 2021. The site is located at 855 County Road 210 W., across the street from Beachwalk, a 3,000-acre community that includes residences, retail, office and industrial space, as well as a planned 100-room hotel. Chris Stewart and Jenny Schuemann of Pebb Enterprises are handling leasing efforts for the Publix-anchored property.

July 20, 2020

Development Multifamily Texas

High Street Residential Breaks Ground on 43-Story Apartment Tower in Downtown Houston

by Taylor Williams July 20, 2020

HOUSTON — High Street Residential, a subsidiary of Trammell Crow, has broken ground on a 43-story apartment tower that will be located at 808 Crawford St. in downtown Houston, adjacent to the 12-acre Discovery Green urban park. The property will house one-, two- and three-bedroom floor plans, as well as 16 two-story townhomes and four two-story penthouses for a total of 309 units. Residences will feature floor-to-ceiling windows, quartz countertops and custom cabinetry. Amenities will include a rooftop pool and lounge area, clubroom with a catering kitchen, business center with coworking space, fitness center and a yoga terrace, indoor pet spa and a complimentary coffee bar, as well as package and concierge services. Completion is slated for late 2022.

July 20, 2020

Development Multifamily Seniors Housing Texas

Investcor Completes Renovations of Historic Fairhaven Assisted Living Facility in Denton

by Taylor Williams July 20, 2020

DENTON, TEXAS — Investcor has completed the renovation of Fairhaven Assisted Living, a historic seniors housing building in Denton. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. Fairhaven was originally developed in the 1950s, but closed in 2007 and fell into disrepair. After teaming with New Haven Assisted Living and Memory Care, Investcor launched the renovation a year ago.

July 20, 2020

Development Mixed-Use New York Northeast

Lendlease, L+M Development Secure Equity Partner for 42-Story Mixed-Use Project in Manhattan

by Taylor Williams July 20, 2020

NEW YORK CITY — A partnership between Australian multinational developer Lendlease and New York-based L+M Development Partners has secured Daiwa House Texas Inc. as a new equity partner for the development team’s 42-story mixed-use tower in Manhattan’s Morningside Heights area. Daiwa House Texas is a U.S. subsidiary of Daiwa House Industry Co., Japan’s largest homebuilder that is pursuing an initiative to expand across the United States. The project, which will be located at 100 Claremont Ave., will feature 165 residential condominiums, 54,000 square feet of academic space for the Union Theological Seminary and 49,000 square feet of faculty housing. Completion is slated for spring 2023.

July 20, 2020

Affordable Housing Development Indiana Midwest Multifamily

Annex Group Opens 51-Unit Affordable Housing Community in Kokomo, Indiana

by Kristin Harlow July 20, 2020

KOKOMO, IND. — The Annex Group has opened Union at Washington, a 51-unit affordable housing community in Kokomo, about 50 miles north of Indianapolis. Located at 918 N. Washington St., the property features a fitness center, playground, computer center and outdoor grilling space. RiverHills Bank provided construction and permanent finance of more than $6.5 million. Cinnaire invested more than $7 million in tax credit equity for the project. T&H Investment Properties LLC is co-developer and co-owner. Other project partners include The Kokomo Community Development Corp. and the Indiana Housing and Community Development Authority.

July 20, 2020

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