SPRING, TEXAS — Cypressbrook Development Co. has broken ground on Ariza Gosling, a 316-unit multifamily project that will be situated on 12.1 acres in the northern Houston suburb of Spring. The property will feature a pool, fitness center, game room, business center, dog park and walking trails. An expected construction completion date was not provided, but it is anticipated to coincide with the arrival of more than 5,000 new jobs in the nearby Springwoods Village development. Arroyo Energy Investors recently announced its relocation to Springwoods Village, the first office lease executed at the new property.
GRAND PRAIRIE, TEXAS — Local office developer Cawley Partners will build a 150,000-square-foot office building at 161 Toll Road in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property will be located within the Mayfield Groves mixed-use development. Construction is expected to begin in late 2020.
RALEIGH, N.C. — Cambridge Village Optimal Living has broken ground on The Cambridge at Brier Creek, a 205-unit active adult community in Raleigh. A sales office is scheduled to open in March 2020 in advance of a planned opening in late summer 2021. Phase I of the project is located on 6.4 acres of the 12.5-acre site, and will include the community’s publicly available wellness center, Cambridge Fitness. The property is five miles from the Raleigh-Durham International Airport and will be located across the street from WakeMed’s Brier Creek Emergency Care Unit. The developer plans to partner with WakeMed to provide physical, occupational and speech therapy at the community.
CHICAGO — J.C. Anderson has completed the build-out for Colliers International’s Chicago headquarters at 71 S. Wacker Drive. The global real estate services and investment management company has relocated its Chicago headquarters from 200 S. Wacker Drive. The space features raised flooring, open ceilings, new light fixtures and new painting. Irvine Co. owns 71 South Wacker, a 48-story office tower that was completed in 2005.
COLUMBUS, IND. — Leo Brown Group has started construction of Traditions of Columbus, a 129-unit independent living, assisted living and memory care community. Located in Columbus, about 45 miles south of Indianapolis, the community will sit on 17 acres. Traditions Management, a wholly owned management company of Leo Brown Group, will run the operations. Leo Brown Group is headquartered in Indianapolis and has developed more than 15 seniors housing communities in the Midwest totaling more than 2,000 units.
RENO, NEV. — Propero Seniors Housing Equity Fund III has partnered with Mission Senior Living to fund the construction of Mission Mountain Vista, a 130-unit independent living community in Reno. A combination of equity provided by Propero and a bank loan funded the $22 million construction project. The Propero structure offered Mission Senior Living an equity solution that minimized the amount of upfront capital and provided a clear path to ownership. Chris Mauger led the transaction for Propero and Grant Goodman was the lead for Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital.
SAN DIMAS, CALIF. — Advocacy Development Partners has broken ground on The Terraces at Via Verde, a 32-unit memory care community in San Dimas, a city in the San Gabriel Valley of Los Angeles County. The project is scheduled to open in early fall 2020. Upon opening it will be the only standalone memory care community in the San Dimas area, according to the developers. The community will be split into two 15,000-square-foot neighborhoods with 16 suites each, all located on 1.2 acres near parks and shopping centers. Frontier Management will operate the community upon completion. Irwin Partners Architects designed the project, with PacifiCore Construction serving as general contractor and Conley Design handling interiors. Fremont Bank, which recently announced an expansion of its seniors housing lending platform, is providing the construction and bridge financing for the project.
RALEIGH, N.C. — The Fallon Company, a Boston-based developer specializing in urban mixed-use projects, has unveiled plans for Raleigh Crossing, a new development spanning 1.8 acres in the state capital. Named for its location at the convergence of four city districts, Raleigh Crossing will feature four distinct uses. Preliminary plans call for 280,000 square feet of Class A office space, 18,000 square feet of retail space, a 165-room hotel and a 135-unit apartment community. The project will also include an outdoor amenity terrace with space for communal events. Sidewalks will also be expanded to accommodate a heavier volume of foot traffic. Fallon expects to break ground in September on Phase I of the project, which will deliver a commercial tower at 301 Hillsborough St. That building will house the 280,000 square feet of office space, as well as 12,500 square feet of retail space and a fitness center. The hotel and residential components, as well as the remaining 7,000 square feet of retail space, will comprise Phase II. Duda | Paine Architects is designing the project. CBRE is handling preleasing of the retail space, which is underway. Pendo, a provider of cloud and software solutions, plans to relocate its corporate …
It’s not just a good idea for real estate developers to engage the surrounding community as part of their due diligence: It’s essential. While on stage at the close of the InterFace Southeast Mixed-Use conference, some of the Southeast’s most prolific mixed-use developers and owners say community involvement can be the difference between success and failure. “Nowadays, if you want a successful mixed-use project, you have to get in deep with the community and all the stakeholders — whether it’s adjacent landowners, homeowners associations, NPUs [neighborhood planning units] or local architecture committees,” said Jeff Garrison, development partner at S.J. Collins Enterprises, an Atlanta-based commercial real estate developer. “We conducted 50 meetings for The Interlock project before we even submitted for zoning. It’s overboard, but that’s what makes it successful.” The Interlock is an upcoming $450 million mixed-use development in Atlanta’s popular West Midtown district. S.J. Collins recently inked WeWork to lease three stories of its office tower, which will also have Georgia Tech as an anchor. Garrison says that the project’s 145-room Marriott Tribute Portfolio hotel was a direct result of feedback that his team heard from the community. “We didn’t have a hotel in our original design,” said Garrison. …
COMMERCE CITY, COLO. — Brennan Investment Group, a Chicago-based developer, has broken ground on Colorado Logistic Park, a speculative industrial development consisting of five buildings totaling 954,311 square feet. The property is located in Commerce City, a northeastern suburb of Denver. Brennan and New York Life Real Estate Investors, on behalf of an institutional client, formed a joint venture to acquire, construct and lease the project. Brennan has started Phase I of the construction, which consists of three Class A industrial buildings totaling approximately 558,000 square feet. The buildings will feature 36-foot clear heights. The development is situated on approximately 61 acres, close to the intersection of Interstate 76 and E-470. The location provides direct access to Interstate 80, a major Midwestern distribution line. “Colorado Logistics Park will feature Class A distribution buildings for tenants in the Denver area that require close connectivity to their supply chain and access to workforce labor,” says Brian Roach, managing principal at Brennan. “The park’s proximity to the Denver metro area will provide users with lower transportation costs and faster delivery times to customers.” Brennan purchased the property in November 2018. Roach noted at the time that the location was chosen for its close proximity to transportation routes as well as …