BETHLEHEM, PA. — Markward Group has arranged the $2.2 million sale of an eight-acre development site in Bethlehem. The property is located at 4700-4720 Bath Pike. Matt Macdonald of Markward Group represented the seller, the Kunsman Family, in the transaction. The buyer was Columbia Wegman Hanover LLC., which plans to develop a senior living community on the property.
ANAHEIM, CALIF. — C.W. Driver Cos., as general contractor, and Ware Malcomb, as architect, have completed the development of Braille Institute Anaheim Center, a 14,700-square-foot building located on the institute’s existing campus in Anaheim. Located at 527 N. Dale Ave., the $5.4 million building replaces the institute’s former multi-structure facility and provides a larger unified space to serve more visually impaired children, adults and seniors from Orange, Los Angeles and Riverside counties. The property includes a 2,500-square-foot learning resource center featuring a library, computer lab, low-vision consultation area and counseling space. Additionally, the facility features designated areas for Braille reading education and self-defense training, as well as a 2,100-square-foot multipurpose room, four classrooms, an art and ceramics studio, training kitchen and multiple technology labs. The new project also features exterior gardens, gathering spots, a dog run and an open-air courtyard.
SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA) and Bywater Development Group, along with Bi-State Development and other key stakeholders, have opened Metro Landing of Swansea, a 62-unit affordable seniors housing community in Swansea. The $11 million, three-story development is a transit-oriented project connecting to St. Louis via the adjacent Swansea MetroLink Station. More than 40 of the 62 affordable one- and two-bedroom units have already been leased, with full occupancy expected by the end of March. Rents start at $565 per month for a one-bedroom apartment and $705 for a two-bedroom apartment. SWIDA and Bywater, which jointly developed the project, secured the majority of the financing from the Illinois Housing Development Authority (IHDA), with further construction financing provided by PNC Bank. Additional support came from the Illinois Department of Commerce and Economic Opportunity (DCEO) and Ameren, along with the St. Clair County Intergovernmental Grants Department. The Federal Transit Administration also played a role in the project, providing the necessary approval for Bi-State Development to sell the ground at the transit center to the developers for this project. St. Louis-based Altman Charter served as general contractor for the project. Chicago-based Worn Jerabek Wiltse Architects is the project architect, and the …
CHARLOTTE, N.C. — Lincoln Harris will invest $50 million over the next five years to renovate and expand Phillips Place in Charlotte’s SouthPark district, according to Charlotte Business Journal. The renovation will include expanding RH’s current 8,850-square-foot location to a 41,000-square-foot gallery space. RH Charlotte, The Gallery at Phillips Place will also include a rooftop restaurant, one of seven RH locations in the world to have one. Other renovations for Phillips Place will include indoor and outdoor gathering places, reconfigured traffic and parking patterns and a pedestrian walkway that will connect Phillips Place to surrounding neighborhoods. Additionally, Lincoln Harris has taken over full ownership of Phillips Place by buying an interest from Regency Centers. According to Charlotte Business Journals, Jacksonville, Fla.-based Regency Centers bought its 50 percent stake in the property in 2013 from Peter Pappas and Pat Clayton, who were key members of the Lincoln Harris-led ownership group known as Phillips Place Partners. Current tenants at Phillips Place include The Palm, Wolfgang Puck, P.F. Chang’s, Taylor Richards & Conger, Brooks Brothers, Orvis, J. McLaughlin, Eileen Fisher and Paper Source. The property also includes a 10-screen Regal Cinemas and Hampton Inn & Suites. RH offers furniture, lighting, textiles, rugs, bathware, décor and outdoor, as …
JACKSONVILLE, FLA. — Cinemark Holdings Inc. will open a 14-screen theater in summer 2020 as part of Phase II of Sleiman Enterprises’ Atlantic North shopping center. Each theater will feature electric-powered, oversized recliners with footrests and cupholders, reserved seating and wall-to-wall screens with enhanced sound systems. Belk, Earth Fare, Academy Sports + Outdoors and LA Fitness anchor Atlantic North. Phase II will also include 300,000 square feet of additional retail and restaurant space. As of Dec. 31, 2018, Cinemark operates 546 theaters in North and South America.
DALLAS — StreetLights Residential has opened The Christopher, a 309-unit apartment community located within The Union, a mixed-use development by RED Development in Uptown Dallas. Rents for units, which feature decorative tile backsplashes, custom cabinetry, private balconies and built-in washers and dryers, start at $2,270 per month. The Christopher offers private alcoholic beverage and coffee bars, a pool, fitness center and lounge space. The opening of the 31-story residential tower marks Phase II of The Union, following the opening of the office component last October.
DALLAS — Chicago-based Convexity Properties has broken ground on The Crossing, an eight-acre mixed-use project that will be located near Southern Methodist University in Dallas. The development will include 500,000 square feet of residential space, which translates to 330 apartments according to The Dallas Business Journal, as well as 90,000 square feet of street-level retail and restaurant space. The site also houses a 225,000-square-foot office building.
NEW YORK CITY — HFF has arranged a $39.6 million construction loan for a 10-story, 34,364-square-foot boutique office building in Manhattan’s meatpacking district. Located at 76 8th Ave., the property will feature ground-floor retail, nine floors of office space and a common roof deck area for tenants. HFF secured financing on behalf of the borrower, Noviprop LLC and co-developer Plus Development. The lender was G4 Capital Partners. The project is scheduled for completion in summer 2020.
BROOKLYN PARK, MINN. — Midas Hospitality has opened a 107-room Home2 Suites by Hilton hotel in Brooklyn Park, its second hotel within the city. The nearly 58,000-square-foot hotel is part of a $28 million development. The property includes suites with fully equipped kitchens designed for extended-stay use. Amenities include an indoor pool, meeting room, fitness area and patio. MC Hotel Construction served as the general contractor.
CHICAGO — JDL Development Corp. has received construction financing for One Chicago Square, an $850 million mixed-use tower in Chicago. The 76-story, 1.5 million-square-foot development will be located in the city’s River North submarket. The project’s senior construction lender is Bank OZK. Other sources of financing for this project include an investment from equity partner Wanxiang America Real Estate Group, as well as $260 million in preferred equity and mezzanine financing from Square Mile Capital Management LLC. One Chicago Square will include 735 apartment units and 77 condominium units. The project’s 193,000 square feet of retail space is largely pre-leased to Whole Foods Market and Life Time Athletic. Plans also call for office space, event space and 1,000 parking spaces. The property will occupy a full city block on the site of a former parking lot that JDL purchased from the Archdiocese of Chicago. Construction is expected to take three years, with completion slated for year-end 2022. Project architects include Goettsch Partners and Hartshorne Plunkard Architecture. JDL is a Chicago-based residential developer founded by Jim Letchinger. Wanxiang America Real Estate Group is a unit of a Chinese auto-parts company. New York-based Square Mile Capital is an integrated institutional real estate …