Development

Dominion Realty, Amzak Capital Break Ground on $47.6M Apartment Complex in Richmond

by Alex Tostado April 15, 2019

RICHMOND, VA. — Dominion Realty Partners (DRP) and Amzak Capital Management have broken ground on Boulders Lakeside, a $47.6 million apartment project in Richmond. The 248-unit asset is situated on 24 acres within a Qualified Opportunity Zone. Boulders Lakeside is expected to open to its first residents in mid-2020 and be finalized in late 2020. Community amenities will include a swimming pool, green activity lawn, automated package delivery system, fitness center, designer club area and a game room. Interior amenities will feature lake views, large kitchen prep islands, oversized windows, sliding glass doors, private unit balconies, exterior storage and keyless unit entry. Roger Edwards and Justin Good of HFF arranged equity placement for the development, and Citizens Bank will provide construction financing. The design team includes architect Rule Joy Trammell + Rubio, general contractor Armada Hoffler Construction and civil engineer RK&K.

April 15, 2019

Development Industrial Kentucky Southeast

Aeroterm Begins Construction on 50,400 SF Industrial Facility at CVG Airport in Northern Kentucky

by Alex Tostado April 15, 2019

HEBRON, KY. — Aeroterm, a developer and owner of airport cargo facilities, has broken ground on a 50,400-square-foot industrial facility at Cincinnati/Northern Kentucky International Airport (CVG) in Hebron. FedEx will be the anchor tenant for the asset, and there is 12,000 square feet of available space for one or two additional tenants. The LEED-certified building offers insulated, pre-cast concrete panels and will be used for airside cargo operations. The facility can accommodate cargo, government users and other terminal support users such as flight kitchens or commissaries. Aeroterm expects to deliver the facility in November.

April 15, 2019

California Development Multifamily Seniors Housing Western

Meta Housing Breaks Ground on $51.4M Affordable Seniors Housing Community in Los Angeles

by Amy Works April 15, 2019

LOS ANGELES — Meta Housing Corp., a Los Angeles-based developer, in a joint venture partnership with Western Community Housing, a Southern California-based nonprofit corporation, has broken ground on Vermont Corridor Apartments. The six-story, transit-oriented, affordable community is located in the Koreatown neighborhood of Los Angeles. The $51.4 million project will provide affordable housing for seniors age 62 and older earning between 25 and 60 percent of area median income. Of the 72 units to be built at the property, 36 will include supportive services funded through the County of Los Angeles’ Measure H and subsidized rents for residents experiencing varying levels of homelessness. These units were constructed with funding from Proposition HHH from the City of Los Angeles and a partnership with the Housing Authority of the City of Los Angeles (HACLA), the Los Angeles Housing and Community Investment Department (HCID) and the County of Los Angeles. “Affordable seniors housing is extremely difficult to find in Los Angeles,” says Kasey Burke, president of Meta Housing. “Los Angeles needs more affordable alternatives for older residents, and we are delivering that alternative in this project. This is a great example of public-private partnership working together to improve the community and the lives …

April 15, 2019

Development Massachusetts Multifamily Northeast

Wood Partners Begins Construction of 261-Unit Multifamily Community in Massachusetts

by David Cohen April 12, 2019

STONEHAM, MASS. — Wood Partners has begun construction of Langwood Commons, a 261-unit multifamily community in Stoneham. The three-building community is scheduled to open in March 2020. The site is located adjacent to the 2,200-acre Middlesex Fells Reservation, known locally as The Fells, a year-round outdoor space that provides outlets for hiking and biking. Wood Partners broke ground on the project in November 2018. It is the company’s 12th project in the greater Boston area.

April 12, 2019

Acquisitions Connecticut Development Northeast

Lyman Real Estate Negotiates Sale of 23-Acre Land Parcel in Oakdale, Connecticut

by David Cohen April 12, 2019

OAKDALE, CONN. — Lyman Real Estate has negotiated the sale of a 23-acre vacant land parcel in the Montville village of Oakdale. Located at 105 Cottage Road, the property has frontage on Gardener Lake. Ron Lyman of Lyman Real Estate represented both the undisclosed buyer and the seller, Saint Thomas More School Endowment & Development, in the transaction.

April 12, 2019

Development Office Texas

Construction Begins on 150,000 SF Paycom Office in Grapevine, Texas

by Taylor Williams April 12, 2019

GRAPEVINE, TEXAS — Construction is underway on a new, 150,000-square-foot office in the Fort Worth metro of Grapevine for Paycom, an Oklahoma City-based provider of payroll and human resources software. The groundbreaking ceremony at the 14-acre site was held on Wednesday, April 10, and the company expects to move in to its new space some time in 2020. Paycom plans to accommodate as many as 1,000 employees at the property, the developer of which was not disclosed.

April 12, 2019

Development Midwest Missouri Office

Cardinals, Cordish Top Out Class A Office Tower in St. Louis

by Kristin Harlow April 12, 2019

ST. LOUIS — The St. Louis Cardinals and The Cordish Companies have celebrated the topping out of the PwC Pennant Building, the Class A office tower that is part of the $260 million expansion of Ballpark Village in St. Louis. The exterior structure of the 11-story building is now completed. The property is scheduled to open this summer. The office tower, designed jointly by HKS Architects, Hord Coplan Macht and Tao & Lee and constructed by PARIC Corp., will feature street-level retail, modern office amenities and more than 460 structured parking spaces. In addition, PwC will have a private rooftop deck that provides views of Busch Stadium, downtown St. Louis and the Gateway Arch. Joining PwC is investment banking firm ButcherJoseph & Co., which will occupy more than 8,000 square feet.

April 12, 2019

Development Maryland Southeast Top Stories

Greenberg Gibbons, Seritage Growth Partner for $150M Redevelopment Project at Metro Baltimore Mall

by David Cohen April 12, 2019

COCKEYSVILLE, MD. — Greenberg Gibbons has formed a joint venture with Seritage Growth Properties to redevelop a 13.8-acre parcel at Hunt Valley Towne Center in Cockeysville. Greenberg Gibbons owns the property, a mixed-use shopping center situated at 118 Shawan Road, 18 miles north of downtown Baltimore. Initial plans for Phase I of the $150 million redevelopment include renovations to the former two-story Sears building and Sears Auto Center. Michael’s and HomeGoods are open on the first floor, while more retail and entertainment concepts are being targeted for the second floor. “[This venture is] an example of our strategy to partner with successful local developers to unlock value at our properties through intensive redevelopment and site densification,” says James Bry, executive vice president of development and construction at Seritage Growth Properties. Wegmans, Regal Cinemas and Marshalls anchor the center. Other tenants include Jos. A. Bank, Dick’s Sporting Goods, Francesca’s Collection, DSW and Ann Taylor Loft. — David Cohen

April 12, 2019

Development Georgia Office Southeast

Cousins Properties Taps Pickard Chilton to Design Norfolk Southern’s New Headquarters in Midtown Atlanta

by Alex Tostado April 11, 2019

ATLANTA — Developer Cousins Properties has tapped Pickard Chilton to design Norfolk Southern’s 1 million-square-foot headquarters in Midtown Atlanta. The railroad company announced in December that it is relocating its headquarters from Norfolk, Va. Norfolk Southern will combine employees from Virginia, Atlanta and its nine divisions across the Southeast to work in the new space, which will be located at 650 W. Peachtree St. in Atlanta’s Technology Square district. The building is expected to be delivered in the third quarter of 2021. Amenities will include a dining facility, rooftop garden, fitness center, conference space, child care and a private greenspace. New Haven, Conn.-based Pickard Chilton has designed more than 6.7 million square feet of commercial space for prominent developers in downtown Atlanta over the past 20 years.

April 11, 2019

Development Midwest Missouri Office

McCarthy-Led Team to Construct $711.7M Campus for NGA in St. Louis

by Kristin Harlow April 11, 2019

ST. LOUIS — McCarthy HITT, a joint venture of McCarthy Building Cos. Inc., HITT Contracting, Black & Veatch Special Projects Corp., Gensler and Akima LLC, has been selected by the National Geospatial-Intelligence Agency (NGA) to build its new campus in north St. Louis. The total project budget of about $1.7 billion includes the McCarthy HITT contract of $711.7 million, land procurement, post-construction outfitting of the building and small business construction projects. Funds are appropriated through the Pentagon’s military construction budget and Congress has authorized spending over several budget cycles. The campus will be built on a 97-acre site at Jefferson and Cass avenues. Designed to replace the current NGA facility located south of downtown, the new development will feature a 712,000-square-foot office building, parking garages, a visitor center, remote inspection facility and access control points. The U.S. Army Corps of Engineers will oversee design and construction. Preliminary work beginning this spring will include various design and pre-construction activities, submittals and joint planning. Major construction work will begin in early 2020, with plans for the campus to be operational in 2025. NGA has had a presence in St. Louis for seven decades and currently employs more than 3,000 workers locally.

April 11, 2019

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