Development

C.W. Driver Cos. Breaks Ground on $36M Athletics Complex at Orange Coast College in California

by Amy Works May 14, 2019

COSTA MESA, CALIF. — C.W. Driver Cos. has broken ground on the $36 million Orange Coast College (OCC) Kinesiology and Athletics Complex in Costa Mesa. The three-building, 88,000-square-foot complex is one part of a broader project to revitalize and modernize OCC’s campus, and one of the three projects C.W. Driver is currently building for OCC. Construction for the complex will occur in two phases. The first phase includes new construction of a multi-building, one-story complex spanning 58,000 square feet. Phase II will focus on the renovation of the existing 30,000-square-foot building that houses the men’s and women’s locker rooms and existing pool areas. Upon delivery, the complex will feature division offices, athletic training, adaptive physical education, equipment management, locker rooms/showers, support spaces for the aquatics programs, a 65-meter competition pool with double bulkheads, a 25-meter instructional pool, and a 450-person bleacher space covered by a canopy. The buildings will be interconnected by an overhead shade structure. Project partners include Little Diversified Architectural Consulting. This complex is one part of the broader project funded by Measure M, a $698 million general obligation bond provided and supported by the local community to construct education facilities for all three colleges that comprise Coast …

May 14, 2019

Development Multifamily Northeast Pennsylvania Seniors Housing

Presbyterian to Build $19M Senior Living Community in Lancaster, Pennsylvania

by Taylor Williams May 14, 2019

LANCASTER, PA. — Presbyterian Senior Living (PSL) will build LongCrest, a $19 million affordable seniors housing apartment complex in Lancaster, located roughly midway between Philadelphia and Harrisburg. A groundbreaking ceremony for the four-acre, 52-unit project is slated for today (Tuesday, May 14). Units will be available to residents earning between 20 to 60 percent of the area median income. LongCrest will also offer both fully handicap-accessible units, as well as units that are accessible for individuals with hearing and/or vision difficulties.

May 14, 2019

Development Multifamily New Hampshire Northeast

WinnCompanies Completes $18.7M Multifamily Rehabilitation Project in Lynn, Massachusetts

by Taylor Williams May 14, 2019

LYNN, MASS. — Multifamily development and management firm WinnCompanies has completed the $18.7 million rehabilitation of Cobbet Hill, an affordable housing community located in the northern Boston suburb of Lynn. The 18-month project upgraded the interior features of 117 units, created new common areas and amenity spaces and modernized the property’s security and utility systems. The building was originally constructed in the 1930s as a public school and converted to a residential use in 1988.

May 14, 2019

Development Maryland Mixed-Use Southeast Top Stories

Weller Development, Local Leaders Break Ground on $600M Phase of Port Covington Project in Baltimore

by John Nelson May 14, 2019

BALTIMORE — The first phase of Weller Development’s Port Covington, a 235-acre mixed-use redevelopment project in south Baltimore, kicked off with a ceremonial groundbreaking on Monday. The Baltimore Business Journal reports that this phase of construction, dubbed Chapter 1, will cost $600 million to complete and span five buildings. Weller Development, a privately held developer based in Baltimore, is the project’s lead developer and will build Chapter 1 over several years, with the first new buildings set to be delivered in fall 2021. Known as Rye Street Market, this portion of Chapter 1 will feature a 13,000-square-foot open-air market and food hall, 50,000 square feet of ground-level retail, a 12,000-square-foot meeting facility and a 15,000-square-foot rooftop event space. Rye Street Market will span four buildings totaling 275,000 square feet. At full buildout, Chapter 1 is slated to include approximately 1.4 million square feet of office space, 337,450 square feet of retail, 976,667 square feet of residential space and 285,000 square feet of hotel space. “The Port Covington of today is a completely different place than what it was just a few short years ago, and we are just getting started,” said Marc Weller, founding partner of Weller Development, during the event …

May 14, 2019

Development Illinois Industrial Midwest

Premier Breaks Ground on 153,000 SF Speculative Warehouse on Behalf of Sterling Bay in Chicago Area

by Kristin Harlow May 13, 2019

DARIEN, ILL. — Premier Design + Build Group has broken ground on a 153,000-square-foot speculative warehouse on behalf of Sterling Bay in Darien, about 25 miles southwest of Chicago. The industrial building will feature a clear height of 30 feet, 31 exterior truck doors and two drive-in doors. The nine-acre site, located near I-55, will also include 161 parking stalls. Completion is slated for November. The project team includes Cornerstone Architects Ltd. and civil engineer Spaceco.

May 13, 2019

Development Illinois Industrial Midwest

Panattoni Buys Three Industrial Properties in Skokie, Plans Redevelopment

by Kristin Harlow May 13, 2019

SKOKIE, ILL. — Panattoni has purchased three industrial properties located near each other in Skokie: a 78,101-square-foot building at 7515 Linder Ave., a 35,000-square-foot building at 7555 Linder Ave. and a 44,000-square-foot building at 7520 Long Ave. The developer plans to demolish the buildings in order to construct a 140,000-square-foot speculative distribution facility. The development will feature a clear height of 32 feet, 30 exterior docks, two drive-in doors and parking for 141 cars. Completion is slated for the fourth quarter of this year. Volkert will market the property for lease. Chris Volkert of Colliers International represented the private sellers.

May 13, 2019

Development Industrial Washington Western

Bridge Development Buys Industrial Development Site in Metro Seattle

by Amy Works May 13, 2019

SUMNER, WASH. — Bridge Development Partners has acquired a 2.9-acre land parcel, located at 1710 136th Ave. East in Sumner, from an independent seller for an undisclosed price. The company plans to develop Bridge Point Sumner 60 on the site. The project will feature 64,574 square feet of industrial space, 30-foot clear ceiling heights, an ESFR sprinkler system, three grade-level doors, 10 dock-high doors, a 120-foot truck court and parking for 54 cars. The facility will offer flexible space options ranging from 20,000 square feet to 65,000 square feet. Construction is slated to begin in the next 30 days, with delivery by first-quarter 2020. Kermit Jorgensen and Scott Price of Neil Walter Co. represented Bridge in the acquisition and will serve as leasing agents for the project.

May 13, 2019

Development Multifamily New York Northeast

Carlyle, Stonehenge Undertake $235M Renovation of Manhattan Apartment Building

by Taylor Williams May 13, 2019

NEW YORK CITY — A joint venture between an affiliate of The Carlyle Group and full-service real estate firm Stonehenge NYC has begun renovations of The Ritz Plaza, a 479-unit apartment building located within Times Square in Manhattan, to the tune of $235 million. Deutsche Bank provided the financing for the project, which will fund capital improvements to unit interiors and common areas. Hodges Ward Elliot arranged the funds. Stonehenge has owned and managed the property, which offers studio, one- and two-bedroom units plus amenities like a pool, fitness center and rooftop terrace, since 1996.

May 13, 2019

Civic Development Life Sciences New York Northeast Office

Janus Property Breaks Ground on 350,000 SF Life Sciences Building in West Harlem

by Taylor Williams May 13, 2019

NEW YORK CITY — Janus Property Co., a developer and manager of residential and mixed-use properties, has broken ground on the Taystee Lab Building, a 350,000-square-foot life sciences property in West Harlem. The 11-story building, located at the site of the former Taystee bread bakery, will be marketed to firms in the life sciences, technology, academic, and arts sectors. Specific features will include floor plates ranging in size from 36,000 square feet at the base to 15,000 square feet at the penthouse level, floor-to-ceiling glass and 20,000 square feet of outdoor space. Designed by architecture firms LevenBetts and SLCE, the project is expected to be complete by late 2020.

May 13, 2019

Cornerstone-at-Stafford-Manahawkin-New-Jersey

Development Multifamily New Jersey Northeast Seniors Housing

Walters Completes 100-Unit Seniors Housing Community in Manahawkin, New Jersey

by Taylor Williams May 13, 2019

MANAHAWKIN, N.J. — Locally based developer Walters has completed Cornerstone at Stafford, a 100-unit seniors housing community in Manahawkin, located east of Philadelphia in coastal New Jersey. The development is open to adults age 55 and above earning less than 60 percent of the county’s median income. Monthly rents range from $874 to $994 for one-bedroom units and from $1,048 to $1,250 for two-bedroom residences. Units feature granite countertops and full appliance packages, washers and dryers and emergency alarm systems. Amenities include a full kitchen, outdoor grilling areas, exercise areas and a resident clubhouse.

May 13, 2019

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