HOUSTON — The NHP Foundation, a nonprofit developer based in New York City, will build a 149-unit affordable housing community at 3300 Caroline St. in the Midtown area of Houston. While all residences will be reserved for renters earning less than the area median income, 20 percent of the units will be set aside for homeless people going through transitional housing programs. Magnificat Houses Inc. is the landowner and NHP Foundation’s equity partner on the project. The City of Houston Department of Housing & Community Development has provided $15 million in financing for the project, which has a target completion date of December 2022.
MCKINNEY, TEXAS — Developer KDC has completed a 100,000-square-foot corporate campus in McKinney for building materials supplier SRS Distribution Inc. The property is located within the Hub 121 mixed-use development and is expected to house about 150 employees. Construction on the four-story, Class A building, which offers indoor and outdoor amenity space, began in March 2019. Gensler designed the project, and Adolfson & Peterson served as the general contractor.
SACRAMENTO — RevOZ Capital has formed a joint venture with Argosy Real Estate Partners to purchase a 127,000-square-foot office property located at 660 J St. in downtown Sacramento. SG Downtown LLC, an affiliate of the Sacramento Kings ownership group, sold the building for an undisclosed price. The joint venture plans to rehabilitate and re-image the four-story building into a mix of office and retail space to complement the recently completed Downtown Commons (DoCo) sports and entertainment district. Renovation plans include redesigning the building to LEED-certification standards, re-skinning the building’s exterior, recreating a lobby, adding on-site amenities, creating new outdoor space, updating restrooms and modernizing building systems. LPA is serving as architect and Cushman & Wakefield will market the property upon completion in late 2021.
JENKINS TOWNSHIP, PA. — Ball Corp. plans to invest $360 million to acquire Interstate Distribution Center in Jenkins Township and retrofit the facility as an aluminum beverage packaging plant. The asset comprises nearly 1.1 million square feet and Ball will employ 230 employees at the plant when it begins production, which is slated for mid-2021. According to local newspaper Times Leader, the property is located at 140 Industrial Drive, between Interstates 81 and 476 and eight miles north of downtown Wilkes-Barre. Endurance Real Estate Group built the asset in 2019. The property features 40-foot clear heights, 108 loading docks, two drive-in doors, 421 car parking spaces and 129 trailer parking spaces. “Ball Corp. has a longstanding presence in the international marketplace, and Pennsylvania is pleased with the company’s commitment to expand its manufacturing facilities in the northeast,” says Pennsylvania Gov. Tom Wolf. The project will generate more than $16 million in new employment payroll annually, according to the governor’s office. The state’s Department of Community and Economic Development (DCED) offered up to $2 million in Redevelopment Assistance Capital Project (RACP) funding to be distributed upon the creation of the new jobs, as well as $400,000 in funding for workforce development …
NORTH BERGEN, N.J. — Procida Funding has provided a $52.5 million construction loan for Manhattan Transit Village North Bergen, a 214-unit multifamily project in North Bergen Township, located across the Hudson River from Manhattan. The property will be located adjacent to the Tonnelle Avenue public transit station and will feature a mix of studio, one- and two-bedroom units, as well as a pool and a fitness center. The borrower and developer was the Demetrakis Family. Specific loan terms were not disclosed.
ARDEN HILLS, MINN. — Stahl has completed construction of the new $37.9 million Army National Guard Readiness Center in Arden Hills, about 10 miles northeast of Minneapolis. Designed by LEO A DALY, the 135,000-square-foot facility will serve as the headquarters for the Red Bull Infantry Division. In the last decade, the Red Bull unit has grown significantly in personnel, equipment and technology, says Stahl. The new facility provides training and secure administrative, work and storage areas. The project is expected to achieve LEED Silver certification.
ALLEN, TEXAS — Kaizen Development Partners has completed One Bethany West, a 200,000-square-foot office building in the northeastern Dallas suburb of Allen. One Bethany West is the third office building in the One Bethany at Watters Creek development, which consists of two completed buildings totaling 300,000 square feet and the capacity for an additional 600,000 square feet of new development. BOKA Powell designed the eight-story property, which offers amenities such as a fitness center, conferencing center, tenant lounge, golf simulator and outdoor activity space. Highlands Residential Mortgage recently signed a lease to become the inaugural tenant.
GARLAND, TEXAS — Adolfson & Peterson (AP) Construction has been awarded the contract to renovate the 10,000-square-foot Audubon Recreation Center in Garland, a northeastern suburb of Dallas. The project will add a 5,000-square-foot fitness center and upgrade the common areas, restrooms, lobby, exterior façade and front patio. Brown Reynolds Watford Architects is the project architect. Construction is scheduled to begin this month and to be complete in summer 2021.
REDMOND, WASH. — The Hotel Group (THG) has opened the 177-room Hilton Garden Inn Redmond Town Center in Redmond. THG manages the property on behalf of Kauri Investments and Washington Holdings. This is THG’s sixth Hilton-branded hotel in the Puget Sound area. The six-story property features 9,000 square feet of meeting space and a 24-hour fitness center. A restaurant will open at the hotel at a later date.
BELLEVUE, WASH. — KTGY Architecture + Planning has unveiled the design for The Lofts at 15th, a 22-unit luxury condominium development in Bellevue, a suburb of Seattle. Developed by Toll Brothers, the project is slated for completion next year. The design features four four-story buildings. Residences range in size from 1,462 to 2,258 square feet and prices will start at $1.1 million. Each unit is equipped with its own two-car garage.