Development

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

by Kristin Harlow September 17, 2020

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.

September 17, 2020

Development Massachusetts Multifamily Northeast

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

by Taylor Williams September 17, 2020

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.

September 17, 2020

Development Massachusetts Multifamily Northeast

Amstel Heritage Opens 25-Unit Aver Apartments in Metro Boston

by Taylor Williams September 17, 2020

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.

September 17, 2020

Affordable Housing Development Loans Multifamily Texas

Bellwether Provides $42.6M Agency Perm Loan for Affordable Housing Project in Austin

by Taylor Williams September 17, 2020

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.

September 17, 2020

Development Multifamily Texas

Allied Orion Nears Completion of 360-Unit Southbrook Multifamily Project in Metro Austin

by Taylor Williams September 17, 2020

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.

September 17, 2020

Development Healthcare Texas

McCord to Develop 101,000 SF Medical Office Building in Houston’s Redemption Square

by Taylor Williams September 17, 2020

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.

September 17, 2020

Arizona Development Industrial Western

TCC Completes 356,000 SF Park Aldea Industrial Project in Phoenix

by Amy Works September 17, 2020

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.

September 17, 2020

Development Kansas Midwest Mixed-Use Top Stories

Occidental Management Plans Mixed-Use Redevelopment of Former Sprint Headquarters Near Kansas City

by Alex Tostado September 17, 2020

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 …

September 17, 2020

Development Multifamily South Carolina Southeast

Alliance Residential to Develop 336-Unit Multifamily Community in North Charleston

by Alex Tostado September 16, 2020

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.

September 16, 2020

Acquisitions Development Mississippi Mixed-Use NAI Southeast

NAI UCR Properties Negotiates Land Sale in Jackson, Buyer Plans $40M Mixed-Use Project

by Alex Tostado September 16, 2020

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.

September 16, 2020

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