Development

Lucror Resources, Sixty West Break Ground on Motto by Hilton Hotel in Atlanta’s Old Fourth Ward

by Alex Tostado November 18, 2019

ATLANTA — Lucror Resources and equity partner Sixty West have begun construction on one of the first Motto by Hilton hotels in the United States. The 146-room micro-hotel brand is located in the Old Fourth Ward neighborhood of Atlanta at 40 Boulevard NE, less than two miles from Ponce City Market. The hotel is slated to open in 2021 as part of Waldo’s, a planned $80 million mixed-use development project that will include 13,000 square feet of restaurants, an office building and 10 residential units. Hospitality Ventures Management Group (HVMG), a private hotel investment, ownership and management company based in Atlanta, will operate the hotel. Additionally, Hilton Worldwide Holdings Inc. has signed deals to open six additional Motto by Hilton hotels in Brooklyn, N.Y.; Chelsea, N.Y.; Indianapolis; Lima, Peru; Savannah, Ga.; and Washington, D.C.

November 18, 2019

Development Hospitality Massachusetts Northeast

Olshan Properties-Led Partnership Underway on $125M Canopy by Hilton Hotel in Boston

by Taylor Williams November 18, 2019

BOSTON — A partnership between Olshan Properties, CV Properties and Harbinger Development is underway on construction of a 212-room Canopy by Hilton hotel in downtown Boston. The $125 million hotel will be located across from the Rose Fitzgerald Kennedy Greenway parks near the city’s Haymarket and North End Districts and will add 12,711 square feet of ground-floor retail and restaurant space to the local supply. Olshan Properties will manage the hotel, which is slated for delivery by mid-2021.

November 18, 2019

Development Industrial Midwest Wisconsin

Kroger, Ocado Select Pleasant Prairie, Wisconsin for Sixth Customer Fulfillment Center

by Kristin Harlow November 18, 2019

PLEASANT PRAIRIE, WIS. — The Kroger Co. and online grocery retailer Ocado have selected Pleasant Prairie for their sixth customer fulfillment center. The facility will span 350,000 square feet and is expected to create up to 400 new jobs. The project is slated to take two years to construct. The facility will serve customers in Wisconsin, northern Illinois and northwest Indiana. In June, Kroger broke ground on its first customer fulfillment center in Monroe, Ohio, and has since announced additional locations in Florida, Georgia, Texas and the Mid-Atlantic region.

November 18, 2019

Development Hospitality Midwest Missouri

93-Room La Quinta Hotel Opens in Kansas City’s Beacon Hill

by Kristin Harlow November 18, 2019

KANSAS CITY, MO. — A 93-room La Quinta by Wyndham hotel has opened in Kansas City’s Beacon Hill neighborhood. The four-story property is located at 2321 Troost Ave. Beacon Hill Hotel Operators LLC owns the hotel and TGC Hospitality Management is the manager. Located near I-90, the hotel features a complimentary breakfast, business center, fitness center and guest laundry.

November 18, 2019

Development Industrial Nevada Western

Plumbing Manufacturer Opens 148,000 SF Distribution Center in North Las Vegas

by Amy Works November 18, 2019

NORTH LAS VEGAS — Oatey Co., a plumbing manufacturer since 1916, has opened a new distribution center in North Las Vegas. The 148,000-square-foot facility features high efficiency LED lighting and HVLS fans, and meets LEED Silver requirements. The distribution center will stock thousands of residential and commercial plumbing products across the company’s 23 categories and sold under the Oatey family of brands. The new facility will further enhance Oatey’s ability to service its customers in the West.

November 18, 2019

Development Mixed-Use North Carolina Property Type Southeast Top Stories

Dewitt Carolinas Unveils Plans for $1B Midtown Exchange Project in Raleigh

by Alex Patton November 15, 2019

RALEIGH, N.C. — Dewitt Carolinas Inc. has unveiled the master plans for development of Midtown Exchange, a $1B mixed-use project in Raleigh that will feature residential, office, hotel, entertainment and retail components. The development will be built on a 40-acre lot just outside Interstate 440, north of downtown Raleigh, and will comprise 790,000 square feet of Class A office space, 125,000 square feet of retail and restaurant space, 300 hotel rooms, 300 senior living units and 1,275 residential units. The residential component will include apartments, condominiums and townhomes, but how the units will be divided was not disclosed. The site will also include a large convention center with rooftop dining space and more than seven acres of green space with water features. Local newspaper North State Journal reports that the office space will comprise two office towers connected by a sky bridge between the two top floors. Those two floors and the sky bridge will make up one large office space, intended to attract a major corporate headquarters tenant. “We envision Midtown Exchange to be a destination unlike any other in Raleigh,” says Todd Saieed, CEO and co-founder of Dewitt Carolinas Inc. “This will be a place where family entertainment …

November 15, 2019

Development Florida Multifamily Southeast

Related Group Breaks Ground on Phase II of $650M River Parc Project in Miami’s Little Havana

by Alex Tostado November 15, 2019

MIAMI — The Related Group, along with the Department of Public Housing and Community Development and SunTrust Bank, has broken ground on Phase II of River Parc in Miami’s Little Havana neighborhood. Phase II consists of the 150-unit Gallery at River Parc, an affordable and workforce housing community. Of the property’s 40 studios, 70 one-bedroom units and 40 two-bedroom apartments, 80 percent will be reserved for workforce housing and 20 percent will be set aside for affordable housing. Communal amenities will include a swimming pool, fitness center, multi-purpose room and a business center. Justin Ginsberg, Donna Kelce and Rebecca Cox of SunTrust arranged financing on behalf of Related Group for the 22-acre River Parc, which is situated across from Marlins Park. The site currently has 800 units across three properties: Robert King High, Haley Sofge and Martin Fine Villas. River Parc is slated to also include an additional 1,800 units of affordable and workforce housing units will be added, bringing the total housing count to 2,600.

November 15, 2019

Development Multifamily New York Northeast

NKF Arranges $44 Million Acquisition Loan for Development Site in Manhattan

by Alex Patton November 15, 2019

NEW YORK CITY — Newmark Knight Frank (NKF) has arranged a $44 million acquisition loan for 4650 Broadway, a 47,350-square-foot development site located in the Inwood neighborhood of Manhattan. SCALE Lending, the lending arm of Slate Property Group, provided the floating-rate loan to Arden Group Inc. The borrower plans to use the loan to acquire the site and develop a 300,000-square-foot multifamily building with retail space. Dustin Stolly and Jordan Roeschlaub led the NKF team that secured the loan.

November 15, 2019

Development Hospitality Texas

JMJ Development to Build 176-Room Mandarin Oriental Hotel in Dallas’ Turtle Creek District

by Taylor Williams November 15, 2019

DALLAS — Locally based firm JMJ Development will build a 176-room Mandarin Oriental hotel in Dallas’ Turtle Creek neighborhood. The 25-story building will also house 100 residential units and feature a spa and an undetermined amount of ballroom and meeting space. A construction start date was not announced, but the hotel is expected to open in 2022.

November 15, 2019

Development Illinois Midwest Multifamily

CA Ventures, Focus Open 241-Unit Apartment Development Near Northwestern University

by Kristin Harlow November 15, 2019

EVANSTON, ILL. — Chicago-based developers CA Ventures and Focus have opened a nine-story, 241-unit apartment development at 811 Emerson St. in Evanston, Illinois, near Northwestern University. Known as LINK Evanston, the property includes studio, one-, two- and three-bedroom floor plans varying from 400 to 1,100 square feet. Amenities include a 9,000-square-foot courtyard with a pool, grilling stations and a fire pit. Indoor amenities include a social lounge/game room, business center with conference rooms, and fitness and wellness center. On-site parking, located on the lower, ground and mezzanine levels, accommodates a total of 174 vehicles, with designated public and private spaces. 7-Eleven, a previous occupant of the site, has moved into a 3,300-square-foot, ground-floor retail space along Emerson Street. The architect was bKL Architecture. Focus served as the general contractor and co-developer for the project.

November 15, 2019

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