Development

Federal Realty Underway on Redevelopment of 925,000 SF Shopping Center in La Mesa, California

by Amy Works January 15, 2026

LA MESA, CALIF. — Federal Realty Investment Trust is underway on the redevelopment of Grossmont Center, a 925,000-square-foot shopping center located in the San Diego suburb of La Mesa. The first phase of the multi-year renovation will include façade upgrades for storefronts; updated landscaping and greenery; enhanced common areas with new outdoor seating; and improvements to pedestrian foot traffic routes, lighting and overall visibility. Completion of Phase I is anticipated for October 2026. All existing businesses will remain open throughout construction. Federal Realty Investment Trust acquired Grossmont Center in 2021. Tenants at the 64-acre property consist of Barnes & Noble, Bath & Body Works, BJ’s Restaurant & Brewhouse, Chuck E. Cheese’s, Chuze Fitness, Cold Stone Creamery, CVS Pharmacy, Famous Footwear and Jamba Juice.

January 15, 2026

Acquisitions California Development Multifamily Western

JPI Closes on Development Site for 394-Unit Multifamily Project in Murrieta, California

by Amy Works January 15, 2026

MURRIETA, CALIF. — JPI has closed on Parcel A at the intersection of Jefferson Avenue and Murrieta Hot Springs Road in Murrieta for the development of a multifamily property. Slated for delivery in second-quarter 2028, the four-story, garden-style community will feature 394 one-, two- and three-bedroom apartments, a fitness center with indoor workout space and stretching room, resident clubhouses and a covered logia with various lounge spaces, TVs and games. Additional amenities will include swimming pools, a lap pool, two hot tubs, multiple private cabanas, an outdoor kitchen with barbecues, outdoor fireplaces, community co-workspace, a pet spa, a large dog park, bicycle storage and repair space and electric vehicle parking.

January 15, 2026

Development Florida Hospitality Loans Southeast

PACE Loan Group Provides $32.2M C-PACE Loan for Hyatt House Hotel in Orlando

by John Nelson January 14, 2026

ORLANDO, FLA. — PACE Loan Group (PLG) has provided a $32.2 million C-PACE loan for the development of Hyatt House, a 274-room extended stay hotel located at 6469 Westwood Blvd. in Orlando. The borrower is a joint venture between New York-based firms GFI Hospitality and LCP Group. The C-PACE loan will cover energy efficient HVAC systems, elevators, windows, high-efficiency plumbing, lighting and mechanical systems. The hotel will have direct access to the Orange County Convention Center upon completion, as well as an onsite restaurant, bar and a fitness center. About 60 percent of the hotel rooms will come equipped with a full kitchen. Crescent Hotels will operate and manage the Hyatt House hotel upon completion. The project team includes general contractor Cleveland Construction and architect Behar Peteranecz Inc.

January 14, 2026

Oxford-at-the-Boulevard-Phase-II-Corinth

Development Loans Multifamily Texas

Dwight Capital Provides $31M HUD-Insured Construction Loan for North Texas Multifamily Project

by Taylor Williams January 14, 2026

CORINTH, TEXAS — New York City-based Dwight Capital has provided a $31 million, HUD-insured construction loan for a 172-unit multifamily project that will be located in the North Texas city of Corinth. The project represents Phase II of a larger development known as Oxford at the Boulevard and will consist of five garden-style residential buildings, four parking garages, a dog park and onsite storage units. Phase I of Oxford at the Boulevard delivered 193 units. Brandon Baksh and Brian Yee of Dwight originated the nonrecourse loan through HUD’s 241(a) program for the borrower, Oxford Enterprises.

January 14, 2026

Development Industrial Texas

Stream Realty Partners Breaks Ground on 217,120 SF Industrial Project in North Houston

by Taylor Williams January 14, 2026

HOUSTON — Stream Realty Partners has broken ground on Summit Grove Business Park, a 217,120-square-foot industrial project in North Houston. The development will consist of two rear-load buildings spanning 125,600 and 91,520 square feet. Building features will include 32- and 36-foot clear heights, respectively, and a combined total of 78 dock-high doors. Project partners include E.E. Reed (general contractor), Ware Malcomb (architect) and Halff (civil engineer). Completion is slated for late summer. Stream will also handle leasing of the property.

January 14, 2026

Affordable Housing Development Multifamily New Mexico Western

Dominium Breaks Ground on 312-Unit Turquoise Trail Affordable Housing Community in Santa Fe

by Amy Works January 14, 2026

SANTA FE, N.M. — Dominium has broken ground on Turquoise Trail, a 312-unit affordable housing community in Santa Fe. The low-income housing tax credit property will be constructed by Weis Builders and will be comprised of 13 three-story buildings containing 120 two-bedroom, 132 three-bedroom and 60 four-bedroom homes, 300 of which will be reserved for households earning no more than 60 percent of the area median income (AMI). The remaining 12 units will be set aside for families earning up to 50 percent of AMI. Amenities will include a clubhouse, fitness center, playground and grilling and lounge areas. Additional development partners include Freddie Mac, PNC Bank, Deutsche Bank, Colliers Securities, Housing New Mexico, New Mexico Mortgage Finance Authority and Santa Fe County. A completion date was not disclosed.

January 14, 2026

Colorado Development Multifamily Western

Opus, Miller Global Properties Complete 253-Unit Bellwether Apartments in Denver

by Amy Works January 14, 2026

DENVER — Opus, along with co-developer Miller Global Properties and equity investor Principal Asset Management, has completed the construction of The Bellwether, a LEED Silver-certified multifamily property within The Denver Tech Center. Located at 7831 E. Union Ave. in Denver, the seven-story apartment complex, which replaced a underutilized surface parking lot, features 253 studio, one-, two- and three-bedroom apartments. Units offer quartz countertops, wood-steel flooring, smart home features, tile bathroom shower surrounds, front-loading washers and dryers, premium plumbing fixtures and walk-in closets. The community offers controlled access and digital guest entry and a combination of surface and garage parking with 58 electric vehicle charging stalls. Additional amenities include work-from-home space, a fitness center and yoga studio, pool and outdoor area, clubroom with a kitchen, private dining and lounge area, a game room, speakeasy and landscaped pond area with walking paths and dog stations. Opus and Miller Global Properties developed the property in a joint venture with Principal Asset Management. Opus served as design-builder and architect of record for the project, and Lamar Johnson Collaborative served as interior designer. Greystar is serving as property manager and handling leasing of the community.

January 14, 2026

Arizona Development Healthcare Western

Hammes, NOVO Begin Development of 34,000 SF Medical Office Building in Scottsdale, Arizona

by Amy Works January 14, 2026

SCOTTSDALE, ARIZ. — A partnership between Hammes and Phoenix-based NOVO Development has broken ground for construction of a 34,000-square-foot medical office building in Scottsdale. The property will serve as an anchor component of the new 43-acre Sierra Bloom mixed-use wellness campus. The building’s anchor tenant will be Arizona Sports Medicine Center (ASMC), which is part of Abrazo Medical Group, a division of Abrazo Health. Occupying a majority of the new space, ASMC will offer sports medicine, imaging and other advanced medical services designed to meet the growing healthcare needs of the Scottsdale community. The medical office building is slated for completion in third-quarter 2026, with a topping out ceremony scheduled for late March.

January 14, 2026

Development Industrial New Hampshire Northeast

Hitchiner Opens 57,000 SF Manufacturing Facility in Milford, New Hampshire

by Taylor Williams January 14, 2026

MILFORD, N.H. — Hitchiner, a provider of casting-based components and assemblies for the aerospace and automotive industries, has opened a 57,000-square-foot manufacturing facility in Milford, located near the Massachusetts-New Hampshire border. The build-to-suit facility will serve as a “shared services operations” center on the company’s existing campus. Locally based design-build firm PROCON handled architectural and construction aspects of the project, which began in fall 2024.

January 14, 2026

Development Industrial Life Sciences North Carolina Southeast

Johnson & Johnson to Develop Multibillion-Dollar Life Sciences Facility in Wilson, North Carolina

by John Nelson January 13, 2026

WILSON, N.C. — Pharmaceutical and home consumer products giant Johnson & Johnson has announced a new multibillion-dollar life sciences facility in Wilson, which sits east of the Raleigh-Durham region along I-95 in Wilson County. The new factory will focus on the production of medicines for oncology and neurological diseases. The development is expected to create up to 500 new jobs and represents the second major investment in Wilson County for Johnson & Johnson. In October 2024, the company announced a $2 billion manufacturing campus that would support 420 jobs. That facility is currently under construction, and Johnson & Johnson has begun hiring advanced manufacturing positions. Additionally, Johnson & Johnson announced last year a $2 billion biopharmaceutical manufacturing facility in nearby Holly Springs, N.C. Civic partners on the new factory in Wilson includes the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Biotechnology Center, the North Carolina Community College System, the North Carolina Department of Environmental Quality, Wilson Community College, the BioPharma Crescent, Wilson County, the Wilson Economic Development Council and the City of Wilson.

January 13, 2026

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