Development

City of College Park Opens 5,000-Seat Gateway Center Arena in South Atlanta

by John Nelson November 22, 2019

COLLEGE PARK, GA. — The City of College Park has opened Gateway Center, a multipurpose sports and entertainment venue that serves as home of the WNBA’s Atlanta Dream team and the College Park Skyhawks, the official NBA G League affiliate of the NBA’s Atlanta Hawks. Designed by Atlanta-based tvsdesign, Gateway Center is located at 2330 Convention Center Concourse in the south Atlanta city of College Park and contains a maximum of 5,000 seats. A partnership between Georgia International Convention Center (GICC) and The Fox Theatre will operate the arena. The 100,000-square-foot property, which has been in progress since February 2018, was funded by the City of College Park and is located next door to the GICC and near Hartsfield-Jackson Atlanta International Airport. In addition to home basketball games, the arena will also be used to host graduations, conferences and conventions. The Fox Theatre will also book a variety of entertainment events including comedy performances, family shows, concerts and lifestyle events at the arena.

November 22, 2019

Development Multifamily Southeast Virginia

Thalhimer Realty Partners to Build $30M Multifamily Project Within City View Landing in Richmond

by John Nelson November 22, 2019

RICHMOND, VA. — Thalhimer Realty Partners, the investment and development arm of Cushman & Wakefield | Thalhimer, plans to build the next phase of City View Landing, a residential development situated in Richmond’s Manchester neighborhood. Dubbed City View Marketplace, the $30 million project will include five buildings housing 161 apartments and 13,270 square feet of ground-level retail space. The project will join The Overlook at City View and City View Row within the master development. Thalhimer expects to deliver City View Marketplace in phases, with a full completion set for April 2020. The City View Landing development features a two-acre pad site on Hull Street that could house a 36,000-square-foot grocer or a future mixed-use building, according to Thalhimer.

November 22, 2019

Arizona Development Multifamily Student Housing Western

Public-Private Partnership Starts Construction of 374-Bed Residence Hall at Arizona State University Polytechnic

by Amy Works November 22, 2019

MESA, ARIZ. — Construction is underway on a 374-bed mixed-use community on the Arizona State University Polytechnic campus in Mesa. A public-private partnership between the university, Capstone Development Partners and equity partner Harrison Street is developing the $34.2 million community. The development will offer private- and shared-bedroom suites. Shared amenities include a main floor lounge and common kitchen; study space and lounges on each floor; and 8,500 square feet of academic space including classrooms, offices, conference areas and meeting areas. The project is scheduled for completion in fall 2020. Shepley Bulfinch is the designer, while CORE Construction is the general contractor for the development.

November 22, 2019

Affordable Housing Colorado Development Loans Multifamily Western

Bellwether Enterprise Closes $20.6M Fannie Mae Loan for Affordable Housing Project in Colorado

by Amy Works November 22, 2019

GYPSUM, COLO. — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has closed a $20.6 Fannie Mae loan. The funds will be used for Phase I of Spring Creek Apartments, an affordable multifamily development in Gypsum, 25 miles west of Vail, Colo. Located at 750 Sunny Ave., the first phase of Spring Creek Apartments will include 150 garden-style apartments in a mix of one-, two- and three-bedroom layouts available to residents making between 30 percent and 60 percent of the area median income. Construction is currently underway with completed slated for summer 2020. Once fully developed, Spring Creek Apartments will offer 461 apartments, townhomes, duplexes and single-family homes, as well as a clubhouse and park facility including a leasing office, community room, business center and fitness center. Additionally, the complex will feature community gardens and walking trails to connect residents to the Eagle County, Colo., multi-use trail system. Anthea Martin of Bellwether Enterprise’s Denver office arranged the 24-month forward period followed by a 15-year Fannie Mae M.TEB loan on behalf of co-developers Gerry Flynn and Jeff Spanel. A fixed rate of 3.3 percent was secured for the transaction. Additional funding for Spring …

November 22, 2019

Development Multifamily Texas

Hillwood Breaks Ground on 322-Unit Apartment Community at Frisco Station

by Taylor Williams November 22, 2019

FRISCO, TEXAS — Hillwood has broken ground on The Cadence at Frisco Station, a 322-unit apartment community located within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. Designed by JHP Architecture, the property will offer studio, one- and two-bedroom units as well as townhomes. Units will feature granite countertops, custom cabinetry and walk-in closets, as well as smart locks and thermostats. Amenities will include a pool with cabanas, coworking space, a fitness center, coffee and wine bars, resident lounge, sauna and a pet washing facility. Preleasing is scheduled to begin in summer 2020 with the first units slated to come on line in early 2021.

November 22, 2019

Development Multifamily Seniors Housing Texas

Buckner Senior Living Opens $140M Ventana High-Rise Community in North Dallas

by Taylor Williams November 22, 2019

DALLAS — Buckner Senior Living has opened Ventana by Buckner, a 301-unit seniors housing community in North Dallas. Development costs were estimated at $140 million. The project, designed by D2 Architecture, features two 12-story towers that house 189 independent living residences, 38 assisted living residences, 48 nursing apartments and 26 memory care residences. Buckner is collaborating with Baylor Scott & White Health for medical and spiritual care services, Stephan Pyles for culinary services, Cooper Aerobics for health and wellness and Southern Methodist University for continuing education. Apartments range from 950 to 2,000 square feet.

November 22, 2019

Development Kansas Midwest Mixed-Use

LANE4 Partners Moves Forward with Proposed Library-Anchored Mixed-Use Project in Olathe, Kansas

by Kristin Harlow November 22, 2019

OLATHE, KAN. — LANE4 Property Group is partnering with the city of Olathe for a proposed new library-anchored, mixed-use project downtown. The project calls for a restaurant, library and office space within a five-story building located immediately east of Olathe City Hall. The development will span 70,000 square feet. The Civic Center Park currently on the site will remain intact and be integrated into the new project. The city council approved a pre-development agreement allowing the project to move forward through the planning and zoning process, but LANE4 must present the development to the city council for approval in early 2020. Groundbreaking is slated for later in 2020.

November 22, 2019

Development Midwest Missouri Office Top Stories

McCarthy, HITT to Build $1.7B Office Campus in St. Louis for Government Agency

by Taylor Williams November 22, 2019

ST. LOUIS — McCarthy Building Cos. and HITT Contracting will build a $1.7 billion office campus in St. Louis for the National Geospatial-Intelligence Agency (NGA), which provides intelligence and combat support services to the U.S. Department of Defense. The campus is being developed on a 97-acre tract at the corner of Jefferson and Cass avenues on the city’s north side. The property will feature approximately 712,000 square feet of office space, parking garages, a visitor’s center and an inspection facility. NGA, which has operated out of St. Louis for 70 years, will relocate from its current facility in south St. Louis to the new campus, which is expected to be fully operational by 2025. The U.S. Air Force owns NGA’s current campus, and it remains unclear what the military branch will do with that property following the relocation. “NGA’s new campus will be built with spaces that facilitate information sharing and collaboration among NGA’s and St. Louis’ talented innovators,” says Vice Admiral Richard Sharp, director of NGA. “Working together, we can better achieve NGA’s mission of providing world-class intelligence to U.S. service members and leaders to keep our nation secure.” A groundbreaking ceremony is scheduled for Tuesday, Nov. 26. Following …

November 22, 2019

Development Florida Multifamily Southeast

Mesa to Break Ground on $50M Panama City Beach Apartment Community

by Alex Tostado November 21, 2019

PANAMA CITY BEACH, FLA. — Mesa Capital Partners will break ground in December on The Tyde, a new $50 million multifamily project in Panama City Beach. The Tyde will feature 300 one-, two-, and three-bedroom apartments with varying construction layouts, including two-story carriage homes, three-story walk-ups and four-story, elevator-serviced buildings. The community will be situated at the intersection of Clara Avenue and U.S. Highway 98, less than a mile from the Gulf of Mexico and near retail and local employers Bay Medical Center and Tyndall Air Force Base. The Tyde will include a clubhouse, fitness center, community space, pool, outdoor fireplaces and grill stations. Atlanta-based Mesa Capital Partners plans to have the units available to lease in late 2020. The project team includes architect Gary B. Coursey & Associates Architects Inc. and engineer Robert Carroll, and Mesa Capital Partners is in the process of selecting a general contractor.

November 21, 2019

Development Office Texas

Bright Realty Completes 251,000 SF Offices at The Realm Project in Greater Dallas

by Taylor Williams November 21, 2019

DALLAS — Locally based developer Bright Realty has completed Offices at The Realm, a 235,000-square-foot office project with 16,000 square feet of ground-floor retail space in Lewisville, located north of downtown Dallas. The project represents Phase I of Bright Realty’s 324-acre Realm at Castle Hills mixed-use development. Amenities at Offices at The Realm include a fitness center, conference center and a rooftop terrace. Coworking firm Venture X has also signed a lease to occupy 30,371 square feet at the nine-story building. BOKA Powell designed the project, and Hill & Wilkinson served as the general contractor. Phase II of The Realm at Castle Hills will deliver a 260-unit apartment community with ground-floor retail and restaurant space in fall 2020.

November 21, 2019

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