By Taylor Williams The sudden merging of a healthy pipeline of multifamily product in Texas with a global pandemic that has caused a drastic increase in working from home is forcing apartment builders and designers to get exceedingly creative with all facets of their projects. Unit interiors and common areas of apartment buildings must now provide makeshift workspaces for adults across a wide range of industries, as well as for the preexisting members of the gig economy and for children who have been forced to engage in virtual learning. Working from home is just one of many lifestyle changes that COVID-19 has brought about in the last six months. Multifamily developers and architects are tasked with trying to judge the staying power of these changes and to find balances between implementing features that promote safety and wellness without busting their budgets. “We know we have to adapt to COVID-19 and be proactive,” says Yewande Fapohunda, senior vice president at High Street Residential, the residential subsidiary of Trammell Crow Co. “Lifestyles and behaviors are rapidly changing, and though we don’t know how long they’ll last, we have to think short- and long-term with our reactions.” It’s a tricky process to say …
Development
NEW YORK CITY — JLL has arranged $105 million in predevelopment financing for Bronx Logistics Center, a 1.2 million-square-foot last-mile distribution center that will be situated on a 14.2-acre site at 980 E. 149th St. Building features will include 1,400 parking spaces, 28-foot clear heights and proximity to Interstate 278. Christopher Peck, Peter Rotchford and Kristin Knapp of JLL arranged the debt through JPMorgan on behalf of the borrower, Turnbridge Equities. In addition, Andrew Scandalios, Tyler Peck and Thomas Pryor of JLL secured Dune Real Estate Partners as a joint venture equity partner. The development team expects to break ground some time in early 2021.
PATERSON, N.J. — Locally based developer Blue Onyx Cos. will redevelop a historic two-acre property in Paterson that houses seven former mills and warehouses into a mixed-use destination. Preliminary plans for the project, which will be branded 24+Half, call for creative office and residential uses, as well as a beer garden and a 12,230-square-foot beach environment with sand, furniture, food trucks and activities. Architecture firm HWKN is leading design of the commercial, residential and public spaces. Blue Onyx acquired the site in 2019. The development team expects to break ground on the first phase of the project in summer 2021 and for the entire project to carry a construction period of about five years.
STONE MOUNTAIN, GA. — Atlanta-based Seefried Industrial Properties has delivered a 640,000-square-foot industrial facility in Stone Mountain. Developed on a build-to-suit basis for Amazon, the four-story distribution center stands 70 feet tall and features Amazon Robotics technology. The property is situated at 2255 W. Park Place Blvd., 19 miles northeast of downtown Atlanta. The Seattle-based e-commerce giant expects to house 1,000 employees at the site. The Conlan Co. was the general contractor, Eberly & Associates was the civil engineer and Macgregor Associates was the architect. Seefried has now built more than 35 industrial facilities for Amazon, including Georgia facilities in Macon and near Augusta.
RESTON, VA. — EYA Development LLC has broken ground on The Townhomes at Reston Station in Reston. The project will comprise 300 apartment units, 20,000 square feet of retail space and 115 townhomes available for purchase. The development spans nine acres and will be delivered in two phases, with Phase I scheduled to deliver in early 2021. The site is located at 1860 Michael Faraday Drive, two blocks from the Wiehle-Reston East Metro Station on the Silver Line and 21 miles west of downtown Washington, D.C. Scott Kasprowicz sold the land to the Bethesda, Md.-based developer.
SHEPHERDSVILLE, KY. — Clermont Distillery Inc. will open a new bourbon distillery in Shepherdsville. The property will span 55 acres on both sides of Interstate 65, though the distillery will only occupy about 15 acres. The developers, cousins Lee Wilburn and William “Bill” LaRue Weller, are exploring joint venture opportunities to develop hotels and other attractions on the remaining 40 acres. The developers expect to break ground in spring 2021. Kentucky Business Investment (KBI) and Kentucky Enterprise Initiative Act (KEIA) approved tax incentives for the project, which is expected to house 22 full-time employees earning an average wage of $56 per hour. The site is situated near the Clermont/Bardstown exit off I-65, 25 miles south of downtown Louisville. The project will also feature a gift shop and tasting room.
FORT WORTH, TEXAS — Locally based general contractor KWA Construction has topped out Phase II of Columbia Renaissance Square in Fort Worth. The latest phase will add 123 seniors housing units to the local supply. Designed by JHP Architecture and developed by Columbia Residential, the property will feature a 95,015-square-foot building with units that are reserved for renters aged 62 and older. Amenities will include a catering kitchen, computer center with Wi-Fi, fitness center, central laundry facility and a theater for movie screenings. Completion of Phase II is slated for December.
FATE, TEXAS — Private equity firm Gardner Capital has partnered with the City of Fate, located northeast of Dallas, to develop Gala at Fate, a 185-unit affordable seniors housing community. The city will lease the land to Gardner Capital, with plans for long-term ownership by the public-private partnership. CREA and Citibank are additional financial partners for the project, with Citibank providing both construction and permanent financing. Treymore Construction is the general contractor for Gala at Fate, which is expected to be complete in January 2022.
HOUSTON — General contractor Cadence McShane Construction Co. has completed the 76,000-square-foot IDEA Hardy charter school in Houston. The project was constructed on a 15.5-acre site and includes classrooms, laboratories, a cafeteria, administrative spaces, gym, soccer field and outdoor eating areas. National architecture firm Corgan designed the project on behalf of IDEA Public Schools, a Weslaco, Texas-based provider of K-12 public charter schools serving roughly 19,000 students across 36 institutions.
GOODYEAR, ARIZ. — Housing Trust Group (HTG) has closed on financing to begin construction of Aviva – Goodyear, an apartment development in Goodyear. The property will be HTG’s second Aviva multifamily community that embraces eco-friendly, luxury living with an array of wellness-oriented amenities. With the first apartments slated for delivery in September 2021, the $71 million Aviva – Goodyear will feature 288 luxury apartment residences in a mix of one-, two- and three-bedroom layouts with open floor plans; kitchens featuring quartz and granite countertops and stainless steel appliances; nine-foot ceilings with vaulted ceilings on upper floors; walk-in closets; wide-plank flooring; and private patios with storage. Located at 4175 N. Falcon Drive, the gated community will offer two swimming pools with spas surrounded by cabana beds, chaise lounge chairs, fire pits and outdoor games. A 10,000-square-foot clubhouse will offer a media and game room, billiards table and co-working spaces with private conference rooms. Also, Aviva – Goodyear will feature a health and wellness center including smart cardio machines, free weights, boxing and a yoga/spin studio with a 24/7 virtual trainer, a playground with covered seating areas, basketball court and a dog park with covered seating and a dog agility course. Slated …