ATLANTA — Velvet Taco has opened its first Atlanta restaurant in Buckhead. The 2,500-square-foot establishment is situated at 77 W. Paces Ferry Road within a Whole Foods Market-anchored shopping center. The late-night joint offers a variety of chicken, beef, pork, fish and vegetarian tacos as well as brunch options. Velvet Taco expects to open a second Atlanta location next year at the Interlock development in West Midtown, according to local media. Based in Dallas, the brand also operates restaurants in Austin, Chicago and Houston.
DENVER — Schnitzer West has announced plans to develop The Current, River North, a Class A office building located at 3615 Delgany St. in Denver’s River North (RiNo) Art District. The development is a partnership between Schnitzer West and Crafts Cos., a Denver-based real estate firm. Schnitzer West acquired the 34,250-square-foot site to develop an office building for business and retail purposes. The 12-story building will feature two levels of underground parking, three levels of above-grade podium parking and eight floors of office space. The top two floors will offer private amenities for tenants, including Schnitzer West’s signature “great room” working and leisure space and a rooftop terrace. Additional amenities will include ground-level retail, office-building lobby and conference center and bicycle storage. The first phase of construction is scheduled to begin in February 2020. Davis Partnership Architects served as architect and Transwestern has been retained to handle leasing for the completed project.
PEORIA, ARIZ., AND HENDERSON, NEV. — Resort Lifestyle Communities has completed construction of two independent living communities, Arrowhead Valley Retirement Resort in the Phoenix suburb of Peoria and Cactus Valley Retirement Resort in the Las Vegas suburb of Henderson. A grand opening is being hosted Sept. 12 at Arrowhead Valley, while Cactus Valley has already opened its doors. The Henderson community features 128 units, but the size of the Peoria community was not disclosed. Resort Lifestyle Communities develops all-inclusive resort-style seniors housing communities across the country, with 45 properties open or under construction.
EDEN PRAIRIE, MINN. — Timberland Partners has opened Elevate at Southwest Station Apartments in Eden Prairie. Elevate features 222 apartment units as well as 13,000 square feet of retail space. Brick & Bourbon craft bar and eatery is expected to open at the property by the end of the year. Amenities at Elevate include a rooftop courtyard, pool, community room, coworking space, dog run, pet spa, yoga studio and fitness center. Kaas Wilson Architects and general contractor Frana Cos. made up the project team for the $63.7 million development. Monthly rents start at $1,279 for studios.
ROLLING MEADOWS, ILL. — Krusinski Construction Co. has completed a 112,500-square-foot distribution and packaging facility for School Health, a provider of health supplies, services and solutions. The two-story building is located at 5600 Apollo Drive in Rolling Meadows. School Health is relocating from Hanover Park. The project included the demolition of an existing building onsite. The new facility features a clear height of 32 feet, more than a dozen dock doors, LED lighting and 30,000 square feet of office space. The project team included architect Ware Malcomb, civil engineer SpaceCo Inc. and Trammell Crow Co. as the owner’s representative.
SAN DIEGO — Liberty National Corp., a San Diego-based multifamily developer, has assembled a 1.38-acre, full-block site in San Diego and announced plans for a mixed-use project on the property. Liberty’s proposal includes a 40-story residential tower and two mid-rise buildings of six and seven stories. The property will offer a total of 640 apartments in a mix of 553 one-bedroom units, 86 two-bedroom units and one three-bedroom unit. Additionally, the development will feature 16,485 square feet of multi-tenant commercial/retail space spread across the ground floors of the three buildings. The project is located at the intersection of Park Boulevard and Broadway in downtown San Diego’s East Village. The San Diego Union-Tribune reports that the Liberty purchased the last piece of the site from the Salvation Army for approximately $7.7 million. “The site is a strategic acquisition given our interests in the area and its location at the juncture of two major entries into the downtown core on the high-activity Broadway and Park Boulevard corridors,” says Randy Williams, vice president with Liberty National. “There remains a housing shortage in San Diego. As this sought-after region continues to grow and attract talent, this new project will appeal to a wide range of residents …
PHOENIX — High Street Residential, the residential subsidiary of Trammell Crow Co., and a fund sponsored by CBRE Global Investors have commenced construction on The Fillmore, a mixed-use project in downtown Phoenix. Situated on 2.8 acres at the southeast corner of Fifth Avenue and Fillmore Street, Phase I will include a seven-story, 533,460-square-foot building with 348 multifamily units, 480 parking spaces and more than 7,000 square feet of ground-floor retail space. The first phase will feature one-, two- and three-bedroom apartments, as well as studio and junior one-bedroom units, ranging in size from 489 square feet to 1,626 square feet. The building will include a clubhouse featuring work-from-home suites, a tequila room for resident gatherings, billiards room, kitchen and bar, lounge, catering kitchen, double-sided fireplace and shuffleboard. Other amenities include a fitness center, swimming pool, cabanas, grilling stations, swinging lounge chairs, spa, hammocks, fire pits secure bike storage and Wi-Fi throughout the property’s common areas. Additionally, the phase will feature a second outdoor deck with a water feature, dog run and park. Completion of Phase I is slated for September 2021. Chasse Building Team is serving as general contractor. Alliance Bank is providing financing for the project.
NORTH RICHLAND HILLS, TEXAS — Civitas Senior Living and StoneCreek Real Estate Partners have opened StoneCreek Senior Living at North Richland Hills. The property is located at 8505 Mid-Cities Blvd. in North Richland Hills, about 13 miles northeast of downtown Fort Worth. The seniors housing community offers 70 assisted living units, 16 memory care residences and 10 independent living cottages. Amenities include landscaped courtyards, a fitness center, full-service salon and a library. The Civitas-Stonecreek partnership has another seniors housing community in the works in Colorado Springs.
IRVINE, CALIF. — WNC, a provider of investment, asset management and development services in the affordable housing industry, has closed two institutional Low-Income Housing Tax Credit (LIHTC) funds. WNC Institutional Tax Credit Fund 47 (WNC Corp. 47) and WNC Institutional Tax Credit Fund 10 California Series 17 (CA 17) total approximately $210 million in equity. Together, the equity from the funds will be used to develop and renovate more than 1,900 affordable housing units in the United States. WNC Corp. 47 raised $134.6 million in equity, and CA 17 raised $75.5 million. The closure of the funds brings Irvine-based WNC’s total equity raised since inception to approximately $5.2 billion. The properties that will be funded are located in Arkansas, California, Colorado, Connecticut, Louisiana, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Virginia and Wyoming. The assets will include multifamily and seniors housing projects in urban, suburban and rural areas. One project of note is Mason Square Apartments II in Springfield, Mass., which is an adaptive reuse of two historic buildings — the former Indian Motorcycle manufacturing mill complex constructed in 1890 and the Masson Square Fire House, originally constructed in 1920. Another notable project is Park West Estates in Los Angeles County, Calif. …
LAFAYETTE, LA. — Rise: A Real Estate Co. has completed The Heritage, a 589-bed student housing community located on the University of Louisiana at Lafayette campus. The development features five residential buildings geared toward upperclassmen. Shared amenities include ground-floor retail, a fitness center, swimming pool, resident lounge, game room, a business center, sand volleyball court, outdoor grill stations and fire pits. The development also houses an office suite for the university’s Housing and Residential Life staff.