Development

Branch Properties Plans Mixed-Use Redevelopment of 492,798 SF Lakeshore Mall in Gainesville, Georgia

by Hayden Spiess November 26, 2024

GAINESVILLE, GA. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta. Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes. Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new space within the development. The Atlanta-based developer, which acquired the property in 2022, will soon initiate the development of regional impact (DRI) process with the Georgia Department of Community Affairs (DCA), with the groundbreaking scheduled for late 2026. Len Erickson of Franklin Street will handle retail leasing at the development in partnership with Branch Properties. Originally opened in 1970, Lakeshore Mall is located off Dawsonville Highway near Lake Lanier. According to the U.S. Census Bureau, Gainesville has seen a population increase of roughly 15 percent since 2020. “This reimagined mixed-use destination redefines Lakeshore as a dynamic, pedestrian-friendly community hub tailored to meet the needs of Gainesville, one of Georgia’s …

November 26, 2024

Development Loans Multifamily Texas

HALL Structured Finance Provides $58.9M Construction Loan for Metro Houston Multifamily Project

by Taylor Williams November 25, 2024

MAGNOLIA, TEXAS — HALL Structured Finance, a Dallas-based lender, has provided a $58.9 million construction loan for Rasha at Audubon, a 326-unit multifamily project in Magnolia, a northwestern suburb of Houston. The site is located within the 3,000-acre Audubon master-planned development, and the garden-style property will consist of five three-story buildings and two four-story buildings. Information on floor plans was not disclosed, but units will be furnished with stainless steel appliances, quartz countertops, walk-in closets and private balconies/patios/yards in select residences. Amenities will include a pool, fitness center, clubroom, lounge, outdoor grilling and dining stations and a dog park. Cullen Atchison of The Houston Group Realty Advisors arranged the loan on behalf of the borrower, locally based developer XAG Group.

November 25, 2024

Affordable Housing Development Multifamily Texas

Palladium USA Breaks Ground on $33M Affordable Housing Project in Metro Houston

by Taylor Williams November 25, 2024

KATY, TEXAS — Palladium USA has broken ground on Palladium Park Row Katy Living, a $33 million affordable housing project in the western Houston suburb of Katy. The property will feature 93 units in one-, two- and three-bedroom layouts. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium expects to deliver the first units next December. Palladium is developing the property in a public-private partnership with the Harris County Housing Finance Corp. HEDK Architects designed the community, and Brownstone Group is serving as the general contractor. Financing for the project includes $15 million of 9 percent housing tax credits from the Texas Department of Housing & Community Affairs; $13.3 million of equity and $12 million of long-term debt from PNC Bank; and $5 million of ARPA funding from Harris County.

November 25, 2024

Civic Development Texas

N&T Construction Begins Renovation of Three Schools for Orangefield ISD

by Taylor Williams November 25, 2024

ORANGEFIELD, TEXAS — General contractor N&T Construction has begun renovations of three scholastic campuses within the Independent School District of Orangefield, located near the Texas-Louisiana border. The project will replace 21 portables with permanent facilities, enclose previously open areas and add windows to all new classrooms. At the elementary school, the project team will add a two-story structure with 32 classrooms, a new cafeteria and a renovated gym. The junior high school will see expanded classrooms and new support spaces, and the high school will receive a new cafeteria, library, classrooms and career and technical education spaces. Additionally, all campuses will receive upgraded safety features, utility enhancements, flood mitigation measures and new landscaping and walkways. Pfluger Architects designed the renovation projects, which are being funded by a $42.9 million bond approved in 2023.

November 25, 2024

Development Florida Mixed-Use Multifamily Office Retail Southeast

Related Group, Rockpoint Deliver Mixed-Use Highley House in Miami’s Wynwood District

by John Nelson November 25, 2024

MIAMI — A partnership between development firm Related Group and Boston-based private equity firm Rockpoint has delivered The Highley House, a mixed-use project in Miami. Situated at 2150 N. Miami Ave. in the city’s Wynwood district, the development features two towers comprising 304 rental apartments, approximately 72,000 square feet of Class A offices and 18,000 square feet of retail space. The co-developers named the project after Locke Highleyman, a developer behind local projects like Hibiscus and Palm Islands and the judge responsible for christening the area as “Wyndwood” in 1917, which was later streamlined to “Wynwood.” Amenities at The Highley House include a rooftop with a swimming pool, summer kitchen, bar and sky lounge. Other amenities include a private dining and wine room, private cinema and lounge, podcast suites, game room, art murals throughout, electric vehicle charging stations, coworking spaces, package services, storage and a wellness center with a gym, yoga room, spa, steam room, cold plunge and treatment suites. The Highley House’s apartments feature studio to three-bedroom layouts with monthly rental rates ranging from $2,389 to $5,657, according to Apartments.com.

November 25, 2024

Development Industrial Southeast Virginia

PNK Group to Break Ground on $80M Industrial Facility in Colonial Heights, Virginia

by John Nelson November 25, 2024

COLONIAL HEIGHTS, VA. — PNK Group will soon break ground on an approximately $80 million industrial facility in Colonial Heights, a Richmond suburb in Chesterfield County. The New York City-based developer purchased the 86.6-acre site last month. The 846,260-square-foot facility will be situated within Ashton Industrial Park. The construction timeline for the development was not released.

November 25, 2024

Development Industrial South Carolina Southeast

Appian Investments Completes 621,468 SF Industrial Building in Laurens, South Carolina

by John Nelson November 25, 2024

LAURENS, S.C. — Appian Investments, a real estate investment group founded by commercial real estate services firm NAI Earle Furman, has completed a new 621,468-square-foot industrial building in Laurens. The speculative facility is situated along the I-385 corridor within Hunter Industrial Park, a logistics campus in the Upstate South Carolina region. Laurens County Development Corp. partnered with Appian Investments on the cross-dock development, which features 40-foot clear heights, 2,500 square feet of office space, 54- by 50-foot column spacing, 136 exterior dock doors, four drive-in bays, 186 trailer storage spaces and 468 automobile parking spaces. Hunter Garrett, John Staunton and Josh Kenyon of NAI Earle Furman are marketing the facility for lease or sale. Tom Daniel and James Malm of NAI Earle Furman were part of the construction team.

November 25, 2024

Extra-Space-Storage-Huntington-Station-New-York

Development Industrial New York Northeast Self-Storage

DXD Capital Delivers 664-Unit Self-Storage Facility on Long Island

by Taylor Williams November 25, 2024

HUNTINGTON STATION, N.Y. — Self-storage developer DXD Capital has delivered a 664-unit facility in the Long Island community of Huntington Station. The facility totals 62,125 net rentable square feet of space that will be entirely climate-controlled. Extra Space Storage is the operator of the facility, which will be the first new self-storage project to be built in Huntington Station in nearly three years, according to the development team. DXD Capital developed the property in partnership with Dallas-based investment firm Realty Capital Partners. Century Bank financed the project.

November 25, 2024

1690-S.-Washington-Ave.-Piscataway-New-Jersey

Development Industrial New Jersey Northeast

M&M Realty Completes 359,522 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams November 25, 2024

PISCATAWAY, N.J. — Locally based developer M&M Realty Partners has completed a two-building, 359,522-square-foot industrial project in the Northern New Jersey community of Piscataway. Building A totals 184,848 square feet and features a clear height of 40 feet, 3,000 square feet of office space, 28 loading docks, two drive-in doors and parking for 157 cars and 30 trailers. Building B totals 174,674 square feet and offers almost identical design features. Cushman & Wakefield is marketing the property for lease.

November 25, 2024

California Development Multifamily Student Housing Western

Sundt Construction Begins Redevelopment of Two Residence Halls at California State University, Fullerton Campus

by Amy Works November 25, 2024

FULLERTON, CALIF. — Sundt Construction has broken ground on the redevelopment of two residence halls on the California State University, Fullerton campus. The project will replace the Jewel Plummer and Cobb Residence Halls, which were the first residence halls built on campus in 1979. The new 175,000-square-foot facility will offer 500 beds in two-bedroom units with bed-to-bath parity for residents; two-bedroom apartments for staff; and one-bedroom units for residence advisors. The project will also include shared amenity space on the ground floor, an updated connection to the university’s arboretum and an 82-space parking lot. A timeline for the development was not announced.

November 25, 2024

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