KEARNY, N.J. — Locally based direct lender Procida Funding has provided a $20 million construction loan for The Helio, a 69-unit multifamily project that will be located in the Northern New Jersey community of Kearny. The property will house 15 studios, 38 one-bedroom units and 16 two-bedroom apartments, as well as a 130-space parking garage, a fitness center, lounge and a rooftop deck. The borrower is an affiliate of New York City-based HA Capital Corp.
KANSAS CITY, MO. — Brinkmann Constructors, in partnership with EPC Real Estate Group, has broken ground on 74 Broadway, a 280-unit apartment complex in Kansas City. Situated in the Waldo neighborhood, the 440,000-square-foot project will feature a clubhouse, six-story parking garage and ground-floor retail space. BRR Architecture is the project architect. A timeline for completion was not provided.
MINNEAPOLIS — Woda Cooper Cos. Inc. and Project for Pride in Living (PPL) have opened Shelby Commons, a 46-unit affordable housing community in the North Loop neighborhood of Minneapolis. The City of Minneapolis and Minnesota Housing each awarded the development Low-Income Housing Tax Credits (LIHTCs) to support primary financing. All of the units are reserved for households earning 30 to 80 percent of the area median income. Shelby Commons marks the first development in Minnesota for Ohio-based Woda Cooper. The four-story building features one-, two- and three-bedroom units along with a community room, central laundry and outdoor spaces such as a rooftop terrace, playground and community gardens. Underground parking is also available onsite. The property will feature two large murals now underway by local artist Jordan Hamilton in association with Juxtaposition Arts. The artwork symbolizes the neighborhood’s history and culture. PPL will provide optional supportive services for residents in the 12 units that are reserved for those who have faced housing insecurity and need assistance. Merchants Capital purchased the LIHTCs in exchange for equity financing. Security Bank and Trust provided a permanent first mortgage, and Huntington Bank provided a construction loan. CRW Architecture & Design Group and BKV Group were …
SOUTH POINT, OHIO — Catalyst Healthcare Real Estate and Heitman have broken ground on a new 51,000-square-foot inpatient rehabilitation hospital in South Point along the Ohio River. The project marks the ninth hospital Catalyst has delivered for PAM Health, and the second in Ohio. The 42-bed facility will be fully leased and operated by PAM Health. The hospital will provide inpatient and outpatient physical, occupational and speech therapy services.
BROOKHAVEN, GA. — On Sunday, Children’s Healthcare of Atlanta (CHOA) is set to open Arthur M. Blank Hospital, a 2 million-square-foot children’s hospital located in the northeastern Atlanta suburb of Brookhaven. The Atlanta Journal-Constitution reports that development costs for the facility, which is situated at the heart of CHOA’s new North Druid Hills campus, totaled approximately $1.5 billion. Arthur M. Blank Hospital rises 19 stories on a 70-acre site at the corner of I-85 and North Druid Hills Road. The new facility offers 446 patient beds, a 70,000 square-foot emergency department with 69 emergency exam rooms and a level one pediatric trauma center — the only dedicated one in Georgia, according to CHOA. The new hospital is named after Arthur Blank, one of the founders of The Home Depot and the current owner of the Atlanta Falcons and Atlanta United professional sports teams. The Arthur M. Blank Family Foundation made a $200 million donation to help fund the cost of the new hospital. The property also offers amenities for patients and their families, such as lounges, libraries, child life activity rooms, a business center and laundry facilities and kitchenettes on every floor. The building cafeteria, dubbed The Eatery, will provide patient …
LAREDO, TEXAS — A joint venture between Maryland-based investment firm Realterm and Texas-based Alliance Industrial has broken ground on a 236,693-square-foot transload facility in the Rio Grande Valley city of Laredo. The facility, which will be situated on a 19.7-acre site, will support various cross-border industrial operations and will be able to accommodate a single or multiple users. Building features will include 32-foot clear heights, 50 dock-high loading positions and 190 trailer parking spaces. Construction is expected to be complete by summer 2025.
HOUSTON — Locally based developer Gauge Real Estate Partners has begun construction of a 192,660-square-foot industrial project in southeast Houston. Gauge Southgate will consist of three front- and rear-load buildings that will range in size from 33,600 to 81,900 square feet and feature 28- to 32-foot clear heights, as well as a total of 49 dock-high doors, 139 car parking spaces and roughly 7,500 square feet of office space. Stream Realty Partners is marketing the project for lease. Delivery is slated for the second quarter of 2025.
NEW YORK CITY — Shawmut Design & Construction has completed The St. Vincent Health Sciences Center, a $106 million academic project located on the campus of St. John’s University in Queens. The 70,000-square-foot facility functions as a pass-through from the Residence Village to the Great Lawn and the main academic hub of the campus. The building houses classrooms, laboratories, patient simulation spaces and private study rooms, as well as a multi-story “living room,” which functions as a social hub and collaborative space for students and faculty. CannonDesign served as the project architect.
EXTON, PA. — Locally based developer Hankin Group has broken ground on Phase II of Keva Flats, a two-building, 96-unit multifamily project in Exton, about 35 miles west of Philadelphia. Phase I of Keva Flats featured 242 units in one-, two- and three-bedroom floor plans across six buildings. Amenities include a fitness center with yoga and Pilates studios; resort-style pool with a sundeck; outdoor grilling stations, fire pits and lounges; an 11,000-square-foot clubhouse; outdoor multi-sports court; and a rooftop terrace. Completion of Phase II is slated for fall 2026.
UNIVERSITY CITY, MO. — Subtext, in partnership with Larson Capital Management, has acquired nearly two acres at 6650 Delmar Blvd. in the St. Louis suburb of University City for the development of LOCAL on Delmar. The five-story, 259-unit apartment complex will be situated in the city’s Delmar Loop entertainment district just north of Washington University in St. Louis. Construction is slated for completion in summer 2026. LOCAL on Delmar will offer a mix of studio, one-, two- and three-bedroom layouts, including townhomes. There will also be 399 parking spaces in an attached five-story garage and more than 7,000 square feet of shared amenity spaces, including a work-from-home hub, wellness suite, gym, yoga studio, pool terrace and clubroom. The project team includes ESG Architecture & Design, Brinkmann Constructors and Stock and Associates Consulting Engineers Inc. First Mid Bank & Trust is the lender.