Development

Gordon Partners Nears Completion of 40,000 SF Office, Retail Expansion Project at Lake Conroe

by Taylor Williams March 31, 2020

CONROE, TEXAS — Houston-based developer Gordon Partners is nearing completion of its expansion of Waterpoint Center, a lifestyle center that fronts Lake Conroe, about 40 miles north of Houston. The project will add roughly 40,000 square feet of retail, restaurant and office space, as well as 60 new boat slips. Restaurants that have signed new leases at the property include Akashi Asian Bistro and Kenz Mediterranean. Several office users, Gary Greene Realtors and Optimus Med Spa have also signed leases. Construction is scheduled to be complete in August.

March 31, 2020

Development Midwest Minnesota Multifamily

26-Story Luxury Apartment Tower Opens in Minneapolis

by Kristin Harlow March 31, 2020

MINNEAPOLIS — Rafter, a 26-story, 283-unit luxury apartment tower in northeast Minneapolis, has opened. Cuningham Group designed the 407,530-square-foot project. Mortenson Development was the developer. The tower’s exterior is a blend of white and textured charcoal concrete that creates a look reminiscent of modern ceramic arts, according to Cuningham. Photographs, paintings and sculptures by local artists can be found throughout Rafter’s shared spaces. Located at 333 Hennepin Ave., the development also features 6,000 square feet of retail space and a seven-story, 279-space parking garage. Monthly rents start at $1,425. The property name comes from the fact that a group of turkeys is called a “rafter.” Many wild turkeys call this part of Minneapolis home.

March 31, 2020

Development Midwest Missouri Multifamily

CBKC to Develop $12.6M Multifamily Project in Kansas City

by Kristin Harlow March 31, 2020

KANSAS CITY, MO. — Community Builders of Kansas City (CBKC) has unveiled plans to develop The Rochester on Blue Parkway, a $12.6 million multifamily project within an Opportunity Zone in Kansas City. The 81,400-square-foot, four-story development will house 64 units. Amenities will include a rooftop deck, fitness center, package room and community meeting space. Monthly rents will range from $985 to $1,275. The property was named after Rochester Gatson, the founder of CBKC. Straub Construction and Hufft Projects make up the project team. A timeline for completion was not disclosed. CBKC says it is working with several partners to finalize the project’s capital stack.

March 31, 2020

Development Industrial South Carolina Southeast

Magnus Development Delivers 200,000 SF Industrial Building in Lexington, South Carolina

by Alex Tostado March 30, 2020

LEXINGTON, S.C. — Magnus Development Partners LLC has delivered Midway IV, a speculative 200,000-square-foot industrial building within Lexington County Industrial Park (LCIP). There is currently one tenant in the building, occupying 50,000 square feet. LCIP spans 350 acres nine miles south of downtown Columbia. Magnus broke ground on Midway IV in March 2019. The asset features 32-foot clear heights, 16 dock doors, two 12-by-14-foot drive-in doors, a 210-foot shared truck court, LED motion-detected lighting and an ESFR sprinkler system. Magnus broke ground on Midway V, also within LCIP, in November.

March 30, 2020

Development Loans Louisiana Multifamily Southeast

Greystone Provides $25.3M HUD Construction Loan for Multifamily Community in Youngsville, Louisiana

by Alex Tostado March 30, 2020

YOUNGSVILLE, LA. — Greystone has provided a $25.3 million HUD 221(d)(4) loan for the construction of Sugar Mill Villas Apartments, a planned 164-unit multifamily community in Youngsville. The non-recourse, fixed-rate loan will fund 85 percent of the project. The loan will automatically convert to a 40-year, fully amortizing permanent loan upon stabilization. The community will be situated at 1931 Chemin Metairie Parkway, within the master-planned Sugar Mill Pond neighborhood. Sugar Mill Villas will also be located near the Youngsville Sports Complex, a $20 million, 70-acre development. A timeline for construction of Sugar Mill Villas was not disclosed. The borrower was also not disclosed.

March 30, 2020

Development Healthcare Texas

Hoar Construction Begins Work on $90M Healthcare Project in Uvalde, Texas

by Taylor Williams March 27, 2020

UVALDE, TEXAS — Alabama-based general contractor Hoar Construction has begun work on a $90 million healthcare project in Uvalde, about 85 miles west of San Antonio. The new facility will be part of Uvalde Memorial Hospital and will include 32,870 square feet of institutional space, 31,872 square feet of administrative space and an 11,500 square-foot central utility plant. In addition, the facility will house an emergency department, physical and occupational therapy department, radiology department, urgent care department, an intensive care unit, a 25-bed medical surgical inpatient unit and 16 outpatient beds. The building is expected to be available for occupancy in September 2021.

March 27, 2020

Development Industrial Texas

ARCO/Murray Completes 47,000 SF High Hazard Facility in Rhome, Texas

by Taylor Williams March 27, 2020

RHOME, TEXAS — Dallas-based design-build firm Arco/Murray has completed a 47,000-square-foot high hazard facility for aeronautics firm Socomore in Rhome, located north of Fort Worth. The facility includes H-2 hazardous material production space and 10,000 square feet of H-3 hazardous material production space. Explosion proof electrical fixtures and a foam fire protection system with in-rack sprinklers were used throughout.

March 27, 2020

Development Multifamily South Carolina Southeast

Summit Contracting Breaks Ground on Multifamily Community in Upstate South Carolina

by Alex Tostado March 26, 2020

MAULDIN, S.C. — Summit Contracting Group has broken ground on Novo Mauldin, a planned 330-unit multifamily community in Mauldin. The property is situated on Main Street, 10 miles south of Greenville. Planned amenities include a clubhouse, fitness center and a pool. The complex will comprise 11 three-story buildings and nine private, five-bay garage buildings. Construction is scheduled to be complete in November 2021. Atlanta-based Shelton McNally Real Estate Partners is developing Novo Mauldin, and Jacksonville-based Group 4 Design Inc. is the project’s architect.

March 26, 2020

Development Industrial Texas

TDC, Diamond Realty to Develop 326,792 SF Warehouse, Distribution Project in Metro Houston

by Taylor Williams March 26, 2020

SUGAR LAND, TEXAS — A joint venture between Transwestern Development Corp. (TDC) and Diamond Realty Investments have acquired 20.8 acres in the southwestern Houston suburb of Sugar Land for the development of a 326,792-square-foot warehouse/distribution project. Branded Sugar Land Crossroads, the project will consist of two buildings designed for tenants ranging from 28,000 square feet to the full capacity of 326,792 square feet. The buildings will offer 32-foot clear heights and share trailer parking spaces and a 255-foot truck court. Completion is slated for spring 2021.

March 26, 2020

Development Industrial Kansas Midwest Self-Storage

StorageMart Opens 942-Unit Self-Storage Facility in Overland Park, Kansas

by Kristin Harlow March 26, 2020

OVERLAND PARK, KAN. — Storage Mart has opened a new self-storage facility at 12020 Glenwood St. in Overland Park. The property includes 873 climate-controlled units and 69 non-climate-controlled units as well as covered loading areas and multiple freight elevators. As with all StorageMart facilities, customers have access to 24/7 customer service and an online tenant portal. StorageMart is based in Columbia, Mo.

March 26, 2020

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