Development

Altman Cos. to Open 350-Unit Apartment Community in Metro Tampa in Early June

by Alex Tostado May 19, 2020

ODESSA, FLA. — The Altman Cos. is on schedule to open Altis Grand at The Preserve, a 350-unit apartment community in Odessa, in early June. The property will feature one-, two- and three-bedroom floor plans ranging from 722 to 1,479 square feet. Preleasing has begun and the company is offering virtual tours to prospective residents. Each unit will feature spa-inspired bathrooms equipped with dual sink vanities, a soaking tub and clear glass shower enclosures. The kitchens will offer quartz countertops and energy-efficient appliances. Communal amenities include a game room with pinball, billiards and shuffleboard; a movie theater with a 120-inch high-definition screen; wellness room with access to a virtual doctor, blood pressure machine and thermometers; fitness center; and a heated saltwater pool with cabanas. The property is located at the intersection of Suncoast Parkway and State Road 54, 23 miles north of downtown Tampa.

May 19, 2020

Civic Development Healthcare Multifamily Student Housing Texas

Medistar, Texas A&M Release Name, Updated Plans for $401M Houston Campus

by Taylor Williams May 19, 2020

HOUSTON — A public-private partnership between Houston-based developer Medistar Corp. and Texas A&M University has branded its new, $401 million medical and engineering campus in Houston and released updated plans for the ensuing phases of construction. The new campus, which is situated on five acres at the intersection of Holcombe Boulevard and Main Street near the Texas Medical Center, will be known as the Texas A&M Innovation Plaza at the Texas Medical Center. New construction plans include the development of Life Tower, a 714-bed student housing building, and Horizon Tower, a 485,000-square-foot medical and academic building. The 17-story Horizon Tower will be constructed atop a 2,700-space parking structure, will include most of the campus’s 15,000 square feet of retail space and is expected to be delivered by or before the first quarter of 2024. Life Tower, along with the parking garage, grade-level retail space and the central “open-air” plaza, is scheduled to be delivered in June 2022. The groundbreaking of this phase of the project is scheduled for late 2020. Development of the campus began earlier this year with the acquisition and renovation of Discovery Tower, an 18-story office building that now houses the university’s EnMed program, which provides students …

May 19, 2020

Development Industrial Washington Western

Terreno Realty Completes 51,000 SF Industrial Redevelopment Project in Seattle

by Amy Works May 19, 2020

SEATTLE — Terreno Realty Corp. has completed the $15.9 million redevelopment of an industrial property located on Sixth Avenue South in Seattle. The redeveloped property consists of a newly renovated, 51,000-square-foot distribution facility on approximately 1.7 acres two miles from downtown Seattle. The asset is adjacent to Seattle’s Port and SoDo districts. Additionally, Terreno has executed a lease for 100 percent of the property with a leading manufacturer of electric vehicles.

May 19, 2020

Development Mixed-Use Texas

215 Westheimer LLC Breaks Ground on 13,200 SF Mixed-Use Project in Houston’s Montrose Area

by Taylor Williams May 18, 2020

HOUSTON — Locally based limited liability company 215 Westheimer LLC has broken ground on a 13,200-square-foot mixed-use project in Houston’s Montrose area. The first floor will feature retail and restaurant space, and the second floor will offer both traditional and medical office space. Identity Architects is designing the project, and Davis Commercial Real Estate is handling leasing. Construction is expected to be complete by the end of 2020.

May 18, 2020

Development Florida Healthcare Southeast

Tampa General, Kindred Healthcare Unveil Plans for New $35M Rehabilitation Hospital in Tampa

by Alex Tostado May 18, 2020

TAMPA, FLA. — Tampa General Hospital and Kindred Healthcare have formed a joint venture to develop and operate a $35 million, 59-bed hospital in Tampa. The building will be located on West Kennedy Boulevard between Oregon and Willow avenues, two miles west of downtown Tampa and one mile west of the University of Tampa. The joint venture plans to break ground this summer with an expected completion date in fall 2021. Kindred will operate the day-to-day operations of the hospital. The developers expect to employ more than 140 people. The new inpatient rehabilitation hospital will care for adults recovering from conditions such as stroke, neurological disease, injury to the brain or spinal cord and other debilitating illnesses or injuries. The new facility will feature all private rooms and will also have a secured brain injury unit with private dining and a therapy gym.

May 18, 2020

Development Industrial Louisiana Self-Storage Southeast

Brookwood Properties to Open 1,100-Unit Self-Storage Facility Near Baton Rouge in June

by Alex Tostado May 18, 2020

DENHAM SPRINGS, LA. — Brookwood Properties LLC will open a 1,100-unit self-storage facility the first week of June in Denham Springs. The four-story building will span 130,000 square feet and offer climate-controlled units. The Baton Rouge, La.-based developer broke ground on the project in May 2019. Baton Rouge-based Rosehill Construction LLC is the general contractor. Buffalo, N.Y.-based Life Storage will manage the property upon completion. The facility is located at 100 Rushing Road, 15 miles east of downtown Baton Rouge. This will be Brookwood’s 50th facility in its portfolio.

May 18, 2020

Development Florida Loans Multifamily Southeast

Berkadia Arranges $9.1M Construction Loan for Multifamily Development in Downtown Fort Lauderdale

by Alex Tostado May 18, 2020

FORT LAUDERDALE, FLA. — Berkadia has arranged a $9.1 million construction loan for The Forge, a 35-unit multifamily community within FATVillage in downtown Fort Lauderdale. The developer and borrower, Urban Street Development, expects to break ground this year and open the seven-story complex in late 2021. An undisclosed bank provided the loan at a 55 percent loan-to-value ratio. The Forge will offer one- and two-bedroom loft-style floor plans ranging from 781 to 1,350 square feet. Apartments will feature 12- to 14-foot ceilings, finished concrete floors, Bauhaus-inspired windows, open entertainment kitchens, quartz countertops and smart home technology. Community amenities will include a CrossFit-inspired gym, garage parking and shared access to the Foundry Loft’s pool deck next door. Additionally, the property is located one block away from the Fort Lauderdale’s Brightline/Virgin Trains Station, offering direct service to Miami and West Palm Beach. FATVillage (Flagler + Arts + Technology Village) is a neighborhood that includes dozens of eateries, markets, boutiques and galleries.

May 18, 2020

Development Illinois Midwest Office

J.C. Anderson Completes Phased Renovation Project at Office Property in Lisle, Illinois

by Kristin Harlow May 18, 2020

LISLE, ILL. — J.C. Anderson has completed a phased renovation project at Westwood of Lisle, located at 2441 and 2443 Warrenville Road in metro Chicago. Property owner Briar Meads Capital LLC hired J.C. Anderson to complete the capital improvement project, which consisted of renovating the office property’s two existing lobbies, fitness center, restrooms, tenant lounges, onsite deli and conference room. Wright Heerema Architects provided architectural services and NAI Hiffman provided project management services. The Class A office complex spans 296,486 square feet.

May 18, 2020

California Company News Development Industrial Western

Amazon to Open 111,500 SF Distribution Center in Metro Sacramento

by Amy Works May 18, 2020

ELK GROVE, CALIF. — Seattle-based Amazon will open a 111,500-square-foot distribution center at 9501 Union Parkway in Elk Grove, approximately 15 miles southeast of Sacramento. Currently under construction, the $21.3 million project is slated to open later this year. Irvine, Calif.-based Panattoni is developing the facility with Sacramento-based Alston Construction serving as general contractor. Sacramento-based Fite Development Co. sold the 17-acre industrial site to Panattoni in December and construction for the 111,500-square-foot distribution center commenced in January.

May 18, 2020

California Development Multifamily Seniors Housing Western

Highridge Costa, SVA Architects Plan Twin Oaks Seniors Housing Community in Oakley, California

by Amy Works May 18, 2020

OAKLEY, CALIF. — Highridge Costa Development Co. and SVA Architects Inc. have released plans for Twin Oaks Senior Residence, a mixed-use project in Oakley, located between Sacramento and the Bay Area. The three-story community will feature 98 one-bedroom and 32 two-bedroom units for people age 62 and older. Units are reserved for those earning between 50 percent and 80 percent of the area median income. The project will also include 5,667 square feet of street-fronting commercial space, 188 parking spaces and over 63,000 square feet of open space on the 5.85-acre site. The Oakley City Council approved the project in October 2019, and the development team expects to break ground the second half of 2020. A timeline for completion was not released. SVA and Highridge Costa are partnering on several high-profile affordable housing projects, including the $130 million Kulana Hale project in Hawaii.

May 18, 2020

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