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Development

Soho-Park-Residences-Nutley-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

JLL Arranges $29.5M Construction Loan for Northern New Jersey Multifamily Project

by Taylor Williams

NUTLEY, N.J. — JLL has arranged a $29.5 million construction loan for Soho Park Residences, an 85-unit, age-restricted multifamily project in the Northern New Jersey community of Nutley. Units will come in one- and two-bedroom floor plans with an average size of 1,110 square feet. Amenities will include a fitness and wellness center, library, sun deck with a pool, outdoor grilling stations and a resident clubroom. Thomas Didio Jr., Gerard Quinn, Michael Mataras and Michael Donohoe of JLL arranged the 2.5-year, floating-rate loan through Kearny Bank on behalf of the borrower, Rock Solid Builders Inc. Construction is expected to be complete in early to mid-2027.

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Allasso-Ranch-Surprise-AZ
AcquisitionsAffordable HousingArizonaDevelopmentMultifamilyWestern

Dominium Acquires Land for 304-Unit Affordable Housing Development in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — Dominium has closed on land in Surprise, a Phoenix suburb about 22 miles northwest of downtown. The developer is planning to build Allasso Ranch on the site. The project will comprise 304 affordable homes supported by low-income housing tax credits. While specific area-median-income caps were not disclosed, the developer says a three-bedroom unit will rent for $1,597 per month, and a four-bedroom will rent for $1,770. According to RentCafe, average monthly asking rents for a three-bedroom unit in Surprise are about $2,054. Amenities will include a leasing center, playgrounds, private backyards and a community pool. Development partners include Western Alliance Bank, Old National Bank, Freddie Mac, PNC Bank, Colliers Securities, Arizona Department of Housing, Arizona Industrial Development Authority, Polaris Capital, Winthrop & Weinstine, Langston Hughes, Todd & Associates, Atwell Engineering, TLS Land Services, Commercial Partners Title, Kutak Rock and U.S. Bank. WD Construction is the general contractor. A project timeline was not disclosed.

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DevelopmentIndustrialMidwestMissouri

Ace Hardware Opens 1.5 MSF Retail Support Center at KCI 29 Logistics Park in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Ace Hardware has opened its new 1.5 million-square-foot retail support center at Hunt Midwest’s KCI 29 Logistics Park in Kansas City. The project marks the first completed development at the 3,300-acre industrial park. The retail support center will support Ace’s growing network of more than 5,000 locally owned retail locations. Measuring a half mile from end to end, the new facility is the largest distribution center in Kansas City by building footprint and is almost twice the size of Ace’s average retail support center, according to Hunt Midwest. Clayco served as general contractor for the build-to-suit facility, and BZI Steel installed the roof. Ace has installed automation and advanced warehouse technology systems to streamline operations and minimize environmental impact. KCI 29 Logistics Park is located in almost the exact center of the continental U.S. on I-29 and is adjacent to the Kansas City International Airport. The industrial park can support up to 17.8 million additional square feet of build-to-suit development.

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DevelopmentIllinoisMidwest

Aspire Center for Workforce Innovation Debuts in Chicago’s Austin Neighborhood

by Kristin Harlow

CHICAGO — The Aspire Center for Workforce Innovation has opened in Chicago’s Austin neighborhood. Lamar Johnson Collaborative (LJC) designed the adaptive reuse project, which involved the repurposing of the former Robert Emmet Elementary School that was built in 1913. Located at 5500 W. Madison St., the center offers workforce training, education, healthcare support and economic development. LJC incorporated a three-story lobby and designed a POPF!t pocket park. The lobby addition features a reception area, flexible open and private gathering zones, and a BMO bank branch. The project also includes a 100-foot mural by artist Shawn Michael Warren. Renovated classrooms now host anchor tenants: Jane Addams Resource Corp., Austin Coming Together, Westside Health Authority and BMO.

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Build-to-RentDevelopmentSingle-Family RentalTexas

Legacy Partners, Resmark Begin Leasing 133-Unit Build-to-Rent Project in Melissa, Texas

by Taylor Williams

MELISSA, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager The Resmark Cos., has begun leasing Harlow, a 133-unit build-to-rent residential project in Melissa, located in Collin County. Designed by UD Architects and built by Blackland Partners, the development offers one-, two- and three-bedroom homes that range in size from 780 to 1,500 square feet. Amenities include a pool, fitness center, coworking space, an outdoor kitchen and a dog park. Rents start in the mid-$1,600s for a one-bedroom home.

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Prism-ON3-Nutley-New-Jersey
DevelopmentMixed-UseNew JerseyNortheast

Prism Capital Partners Receives Three Approvals for Northern New Jersey Mixed-Use Redevelopment

by Taylor Williams

CLIFTON AND NUTLEY, N.J. — Locally based development and investment firm Prism Capital Partners has received three redevelopment plan approvals from the City of Clifton and the Township of Nutley, both located in Northern New Jersey, for a mixed-use project. The project is part of Prism’s 116-acre ON3 campus, which is a redevelopment of the former North American headquarters campus of pharmaceutical company Hoffmann-La Roche. The approvals pave the way for the construction of up to 1,074 multifamily units, 90,000 square feet of retail and restaurant space and a 150,000-square-foot life sciences facility, as well as a potential data center. In Clifton, Prism’s newly approved Phase IV redevelopment plan includes the multifamily and retail elements, sited on acreage along Route 3 East. The July approval covers Prism’s plan to introduce new housing, restaurants and retail space. In Nutley, ON3’s Innovation Center tract fronting Kingsland Street is earmarked for the development of a research-and-development facility. Prism has secured an undisclosed, international consumer products company to lease the property and anticipates an imminent site plan approval filing. Construction could begin in the coming weeks. Additionally, Nutley has approved Prism’s plan to redevelop 11 acres at 275 Kingsland St., a site that can accommodate …

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DevelopmentLeasing ActivityMixed-UseMultifamilyNorth CarolinaRestaurantRetailSoutheast

Ardent Closes on Land Acquisition for Westside Bottling Project in Durham, Signs Leases With Sprouts and Shake Shack

by John Nelson

DURHAM, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which at full build-out will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an existing bank branch on the site, will continue to operate at Westside Bottling. The development sits three miles west of downtown Durham and north of Duke University and Duke University Medical Center.

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DevelopmentMarylandSoutheastStudent Housing

MCB Opens 473-Bed Student Housing Community Near Morgan State University in Baltimore

by John Nelson

BALTIMORE — MCB Real Estate has opened The Enolia, a 473-bed, off-campus student housing community located at 4529 Harford Road in Baltimore. The $58 million development is situated less than a mile from Morgan State University’s campus. Named after Baltimore civil rights leader and first female NAACP president Enolia Pettigen McMillan, The Enolia features 151 apartments, each with bed-to-bath parity and fully furnished with washers and dryers, quartz countertops and stainless steel appliances. Amenities include a fitness center, game room, study rooms with private huddle areas, lounges, an outdoor courtyard with three terraced levels, lawn areas and a firepit. The Enolia represents the first ground-up student housing development serving Morgan State students in 20 years, according to MCB.

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DevelopmentFloridaSeniors HousingSoutheast

Chancey Development Delivers 86-Unit Seniors Housing Community on Marco Island in Southwest Florida

by John Nelson

MARCO ISLAND, FLA. — Chancey Development, in partnership with BRW Development and Watermark Retirement Communities, has delivered The Watermark at Marco Island, a new, 86-unit seniors housing community on Marco Island in southwest Florida. This marks the first senior living community on the island. Totaling 103,000 square feet, the property features 66 assisted living and 20 memory care units. Chancey Architecture & Design designed the community, with Wichman Construction serving as the general contractor. Chancey also partnered with the City of Marco Island to create a public park adjacent to the property, which is located with proximity to an urgent care facility.

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Canyon-Ridge-Apts-Boise-ID.jpg
DevelopmentIdahoMultifamilyWestern

Hawkins Completes 288-Unit Canyon Ridge Multifamily Property in Boise

by Amy Works

BOISE, IDAHO — Hawkins has completed Canyon Ridge, an apartment community in southeast Boise. Located at 2552 E. Gowen Road, Canyon Ridge features 288 one-, two- and three-bedroom apartments. Community amenities include a resort-style outdoor pool, dedicated dog park and 6,000-square-foot clubhouse. Canyon Ridge is located near the 161-acre Simplot Sports Complex, Mircon’s North Campus and Albertsons. ESI served as general contractor for the project.

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