Development

Gardner Capital Opens 116-Unit Alameda View Apartments in Aurora, Colorado

by Amy Works July 27, 2020

AURORA, COLO. — Gardner Capital, in partnership with the City of Aurora, has completed the development of Alameda View Apartments, a 116-unit affordable multifamily property located at 15501 E. Alameda Parkway in Aurora. With close proximity to public transportation and walking trails, Alameda View features 20 one-bedroom units, 60 two-bedroom units and 46 three-bedroom units. Ross Management is serving as property manager for the development. Funding for the project was provided by Colorado Housing and Finance Authority, Citibank and Stratford Capital Group. The project team included Arco Construction and Denver Urban Gardens.

July 27, 2020

Development Multifamily New York Northeast Top Stories

Extell Development Opens First Units at 68-Story Brooklyn Point Residential Tower

by Taylor Williams July 27, 2020

NEW YORK CITY — New York City-based Extell Development Co. has begun closing condo sales and allowing resident move-ins at Brooklyn Point, a 68-story multifamily tower that is the borough’s tallest building. In addition to sales commencing and the return to in-person appointments and tours, the building’s first model residences will soon be unveiled. Designed by Kohn Pedersen Fox, the 720-foot-tall Brooklyn Point is located in downtown Brooklyn, across the street from Willoughby Square Park in the 600,000-square-foot City Point mixed-use development. Brooklyn Point offers a total of 483 for-sale residences in studio, one-, two- and three-bedroom floor plans. Pricing now starts at approximately $900,000, with buyers receiving a 25-year tax abatement. The property features more than 40,000 square feet of indoor and outdoor amenity space, including an infinity pool; outdoor movie screening space; a health and wellness club with an indoor pool, rock climbing wall and basketball court; and a spa. Brooklyn Point will also house a bar, salon, coworking space, chef’s demonstration kitchen, game lounge and a children’s play area. A ninth-floor terrace will offer outdoor lounge and grilling areas, a putting green and a bar. “With the neighborhood continuing to reopen and the area’s energetic atmosphere returning …

July 27, 2020

Development Georgia Multifamily Southeast

McShane Construction Completes 248-Unit Multifamily Community in North Georgia

by Alex Tostado July 24, 2020

BRASELTON, GA. — McShane Construction has completed Noble Vines at Braselton, a 248-unit multifamily community in Braselton. The Auburn, Ala.-based general contractor delivered the property on behalf of the developer, Claret Communities. Designed by Studio for Housing Design, the new complex offers 10 three-story buildings. Unit interiors feature tile backsplashes, granite countertops and stainless steel appliances. Communal amenities include a pool, fitness center, clubhouse, resident lounge, grilling stations, dog park and a car wash area. Noble Vines is situated at 1500 Noble Vines Drive, six miles from Chateau Elan Winery & Resort and 43 miles northeast of downtown Atlanta. Claret Communities received a HUD 221(d)(4) loan to fund the project’s construction.

July 24, 2020

Development Multifamily Student Housing Texas

Developers Complete 405-Bed Student Housing Project Near University of Houston

by Taylor Williams July 24, 2020

HOUSTON — A development team consisting of WGC Partners, a partnership of Steve Spessard of Gore Creek Partners LLC and Rocky Stevens and Mark Seger of Wellington Development Co., GRC Capital and Principal Real Estate Investors has completed Tower 5040, a student housing project located adjacent to the University of Houston’s main campus. The 147-unit property features one-, two- and four-bedroom units, as well as a game room, business center, fitness center, pool and a pet park. Dallas-based Humphreys & Partners designed the project, and Houston-based Arch-Con Construction was the general contractor.

July 24, 2020

Development Illinois Industrial Midwest

Contegra Construction Builds 544,000 SF Warehouse Near St. Louis

by Kristin Harlow July 24, 2020

PONTOON BEACH, ILL. — Contegra Construction Co. has completed construction of a 544,000-square-foot warehouse in Pontoon Beach, just northwest of St. Louis. It is the first building at NorthPoint Development’s Gateway Tradeport, a 600-acre, 7.5 million-square-foot industrial park. The new property features a clear height of 36 feet, 56 dock doors and parking for 157 trailers. The project team included JF Electric Co., Fennix Construction Co., Affton Fabricating & Welding Co. Inc., Bi-State Fire Protection Corp., Icon Mechanical, Kamadulski Excavating and Grading Co. Inc., Krudwig Structural Engineers, RCS Construction, Focal Pointe Landscaping, Wiese USA and Christian Brothers Asphalt Inc.

July 24, 2020

Development Illinois Industrial Midwest

Meridian Completes Two Spec Industrial Buildings in Elgin, Illinois

by Kristin Harlow July 24, 2020

ELGIN, ILL. — Meridian Design Build has completed construction of two speculative industrial buildings for developer Scannell Properties in Elgin. A 325,020-square-foot building at 2451 Bath Road features a clear height of 36 feet, four drive-in doors, 367 auto parking spaces and 56 trailer stalls. The second property, an 80,400-square-foot facility at 1755 Britannia Drive, features a clear height of 32 feet, two drive-in doors and 92 auto parking spaces. The building can accommodate up to 19 loading docks and as many as three tenants. Paul Woody Architects provided architectural services and Manhard Consulting provided civil engineering services. Kenneth Franzese and John Cassidy of Lee & Associates are marketing the buildings for lease.

July 24, 2020

Development Illinois Midwest Office

J.C. Anderson to Renovate 150,000 SF Office for West Monroe Partners in Chicago

by Kristin Harlow July 24, 2020

CHICAGO — J.C. Anderson has been selected to complete a 150,000-square-foot office buildout for West Monroe Partners at 311 W. Monroe St. in Chicago. Founded in 2002, West Monroe Partners is a national consulting firm with seven offices throughout the country. The firm is relocating from 222 W. Adams St. J.C. Anderson will build out additional offices, open areas, phone rooms, conference rooms and collaborative work areas. The multi-floor project will include a break room on each floor as well as a reception area on the 14th floor and a new staircase leading up to the 15th floor. Completion is slated for October. The 15-story office building spans 382,490 square feet in Chicago’s Loop.

July 24, 2020

Development New York Northeast Office

Elijah Equities Begins Leasing 98,000 SF Office Building in Manhattan

by Taylor Williams July 24, 2020

NEW YORK CITY — Elijah Equities has begun leasing The Warehouse, a 98,000-square-foot office building located at 520 W. 20th St. in Manhattan’s Chelsea neighborhood. The four-story property is a redevelopment of a former textile mill and features floor-to-ceiling windows, central heating and cooling on each floor and 18,000 square feet of outdoor terraces. Newmark Knight Frank is the exclusive leasing agent for the building.

July 24, 2020

California Development Mixed-Use Multifamily Retail Western

Coldwell Banker Negotiates $14.4M Sale of Mixed-Use Development Site in Temple City, California

by Amy Works July 24, 2020

TEMPLE CITY, CALIF. — Coldwell Banker Commercial has arranged the sale of a development site located at 5570 Rosemead Blvd. in Temple City. An undisclosed buyer acquired the site for $14.4 million. The buyer plans to redevelop the 1.4-acre land parcel into a mixed-use community with 73 residential units and 15,000 square feet of ground-floor retail space. The four-story building will offer units ranging from 732 square feet to 1,251 square feet, with three live-work units and lofts on the top floors. A 12,000-square-foot building, which was formerly used as the Learning Center, currently occupies the site. Steve Hayashi of Coldwell Banker Commercial George Realty represented the undisclosed seller in the deal.

July 24, 2020

Development Florida Industrial Southeast

Sansone Group to Construct 3.2 MSF Distribution Center in South Florida

by Alex Tostado July 23, 2020

PORT ST. LUCIE, FLA. — Sansone Group plans to develop Tradition Commerce Park, a 3.2 million-square-foot light industrial and distribution center in Port St. Lucie. The St. Louis-based developer entered into an agreement with the Port St. Lucie City Council to acquire 300 acres for the property, which is situated at the northwest corner of Southwest Becker Street and Interstate 95. Sansone expects to break ground by the end of 2020 and deliver Phase I by the third quarter of 2021. Development of Phases II and III will depend on market conditions, according to Peter Crane, regional director of Sansone Florida. Sansone paid the City of Port St. Lucie $5 million for the 63 acres needed for Phase I and will pay $82,764 and $87,120 per acre for the land needed for Phases II and III, respectively. Crane and Alex Pappas of Sansone, along with Lee & Associates, represented the developer in the land transaction.

July 23, 2020

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