Development

Cinemark to Open 14-Screen Theater at Cottonwood Creek Market in Waco

by Taylor Williams January 30, 2019

WACO, TEXAS — Cinemark Holdings Inc. (NYSE: CNK) will open a 14-screen theater within Cottonwood Creek Market, a mixed-use development in Waco by Houston-based NewQuest Properties. The venue, which is expected to open in spring 2020, will feature electric-powered, oversized recliners, wall-to-wall screens with enhanced sound systems and expanded food and beverage options. Cottonwood Creek will ultimately offer a total of 285,000 square feet of retail, restaurant and entertainment space, as well as office space and multifamily units.

January 30, 2019

Development Illinois Industrial Midwest

LPC Acquires Infill Site in Chicago, Plans 137,000 SF Industrial Building

by Kristin Harlow January 30, 2019

CHICAGO — Logistics Property Co. LLC has acquired 3711 S. Ashland Ave., a 6.4-acre infill site in Chicago. The company plans to build a 137,000-square-foot industrial building on the site, which is located one mile from I-55 and two miles from I-94. Construction is expected to begin this summer with completion slated for the first quarter of 2020. Tim McCahill and Terry Grapenthin of Lee & Associates are marketing the property for lease.

January 30, 2019

Development Illinois Midwest Restaurant Retail

Velvet Taco to Open Second Chicago Location at Lincoln Common Development

by Kristin Harlow January 30, 2019

CHICAGO — Velvet Taco, a Texas-based fast casual restaurant, will open its second Chicago location at Lincoln Common, a mixed-use project located in the heart of Chicago’s Lincoln Park. The restaurant will occupy 2,572 square feet beginning in mid- to late-2019. Lincoln Common, currently under development by McCaffery Brokerage and Hines, will feature residential, office, dining, fitness and retail space. Previously announced tenants include Kohler Waters Spa and Equinox Fitness.

January 30, 2019

California Development Healthcare Western

Dignity Health Breaks Ground on $215M Campus Expansion, Patient Care Tower in Los Angeles

by Amy Works January 30, 2019

LOS ANGELES — Dignity Health California Hospital Medical Center has broken ground on a $215 million campus expansion and modernization project in downtown Los Angeles. The centerpiece of the project is a 150,000-square-foot patient care tower that will add space, privacy and advanced medical technology, as well as increasing capacity and accessibility for emergency, trauma and maternity services. The first floor of the new tower will house larger, private and state-of-the-art emergency and trauma bays resulting in a 51 percent increase in the number of patient care areas. Additionally, the new tower will feature an enhanced neonatal intensive care unit with private rooms and labor and delivery suites, including midwifery services, antepartum and postpartum services. The expansion will also include a new pediatrics unit on the sixth floor of the existing Tibbitts Tower, an emergency mental health observation center adjacent to the new emergency department and a new multi-level parking structure with meeting and retail space on the ground floor. Completion is slated for 2020, with occupancy in 2021. The campus expansion is being funded through a loan of $165 million from Dignity Health and a capital campaign seeking local philanthropic investment of $50 million.

January 30, 2019

Alabama Development Multifamily Southeast Student Housing

Opus Group, McKinney Fund Break Ground on 17-Story Student Housing Community Near University of Alabama at Birmingham

by Alex Tostado January 29, 2019

BIRMINGHAM, ALA. — The Opus Group, in partnership with The McKinney Fund & Co., has broken ground on a 522-bed student housing community near the University of Alabama at Birmingham (UAB). The 17-story mixed-use development will offer floor plans ranging from studios to four-bedroom units. Shared amenities will include a fitness center, spa, study rooms and lounges, an outdoor amenity deck with fitness areas, fire pits, a coffee bar, club room, rooftop pool and grilling stations. Myefski Architects designed the community. Auburn, Ala.-based Rabren General Contractors will serve as general contractor, and Creative License International will design the interiors for the project. The community is scheduled to open in fall 2020.

January 29, 2019

Development Multifamily Southeast Virginia

S.L. Nusbaum Breaks Ground on Phase I of Multifamily Project in Eastern Virginia

by Alex Tostado January 29, 2019

GLOUCESTER, VA. — S.L. Nusbaum Realty Co. has broken ground on Phase I of Riverbend Apartment Homes, a planned 130-unit affordable housing community in Gloucester. Phase I is expected to be complete in summer 2020. Phase II, which will add 88 units, is scheduled to break ground this spring and be delivered in late 2020. TS3 Architects, Bay Design Group, Details Ltd. and Siska Aurand Landscape Architects Inc. designed the community. Hoy Construction is the general contractor.

January 29, 2019

Development Illinois Midwest Multifamily Seniors Housing

Evergreen Real Estate Group to Upgrade, Expand Seniors Housing Community in Naperville, Illinois

by Kristin Harlow January 29, 2019

NAPERVILLE, ILL. — Evergreen Real Estate Group has unveiled plans to upgrade and expand Martin Avenue Apartments, a 122-unit affordable seniors housing community in Naperville. The $38.6 million project will be completed in partnership with the community’s owner, Naperville Elderly Homes Inc. The units will be upgraded with new bathrooms, flooring, light fixtures and air-conditioning units. A new five-story wing will add 68 more units. Construction is scheduled to begin late this spring with completion slated for late 2019 for the existing structure and mid-2020 for the new wing. Evergreen Construction Co. and Wight Construction Services are the general contractors for the project. Worn Jerabek Wiltse Architects is the project architect. Evergreen will continue to oversee operations after the renovations are complete. Working in partnership with the Illinois Housing Development Authority, U.S. Bancorp CDC and Wintrust Bank, Evergreen secured nearly $20 million in low-income housing tax credit equity to help finance the project. Other financial partners included the city of Naperville, DuPage County and the DuPage Housing Authority.

January 29, 2019

Development Mixed-Use North Carolina Southeast Top Stories

Beacon Partners to Build 15-Acre Mixed-Use Project in Charlotte’s South End Neighborhood

by John Nelson January 29, 2019

CHARLOTTE, N.C. — Beacon Partners, a Charlotte-based mixed-use developer, plans to build a 15-acre project in Charlotte’s South End neighborhood. Named LoSo Station, the project will include more than 500,000 square feet of creative office space, 30,000 square feet of retail and restaurants, 350 multifamily residences and a 150-room boutique hotel. The master plan also calls for rooftop entertainment, meeting space, outdoor retail plazas and other athletic amenities for tenants and residents. The transit-oriented development will be situated at the Scaleybark station for the LYNX Blue Line light rail system, as well as along Charlotte Rail Trail, a 3.5-mile long public trail for walking, biking and scooter access through South End. South End is an up-and-coming neighborhood in Charlotte, with nearby attractions including Queen Park Social, Victory Brewery and OMB (The Olde Mecklenburg Brewery). “The LoSo Station master plan is such a unique and rare opportunity to plan and develop a transit-oriented development at the convergence of South End and ‘LoSo,’” says Mike Harrell, senior partner at Beacon Partners, referring to the lower portion of South End (LoSo). “We are looking forward to bringing forth the mixed-use amenities that will enhance and complement the already existing business and merchant base …

January 29, 2019

Development Florida Retail Southeast

Alamo Drafthouse Cinema to Anchor Phase III of Orlando Retail Development

by Alex Tostado January 28, 2019

ORLANDO, FLA. — O’Connor Capital Partners has signed Alamo Drafthouse Cinema to be the anchor tenant of the third phase of Vineland Pointe, a 450,000-square-foot retail development in Orlando. Phase III is expected to be complete in 2020, Phase II is on schedule to open by this holiday season and Phase I was delivered in December. This will be Austin, Texas-based Alamo Drafthouse Cinema’s first Florida location and will offer a 10-screen theater with 942 recliners, a full-service bar and a restaurant. The retail project is situated adjacent to Orlando Vineland Premium Outlet Mall, and is being designed by Eleven18 Architecture, with Harris Civil Engineers serving as project engineer.

January 28, 2019

Acquisitions Development Industrial New Jersey Northeast

CBRE Brokers $8M Sale of Development Site in Lyndhurst, New Jersey

by David Cohen January 28, 2019

LYNDHURST, N.J. — CBRE has brokered the $8 million sale of a five-acre development site in Lyndhurst. Located at 1290 Wall St., the property can accommodate up to 85,400 square feet of warehouse and distribution space. Brian Fiumara, Michael Hines, Brad Ruppel, Lauren Dawicki and Thomas Monahan of CBRE represented the seller, Rugby Realty Co., in the transaction. The buyer was Gramercy Property Trust.

January 28, 2019

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