Development

Simon Breaks Ground on $300M Phipps Plaza Redevelopment in Atlanta’s Buckhead District

by Taylor Williams October 19, 2018

ATLANTA — Simon Property Group (NYSE: SPG), the owner and developer best known for Class A malls, has broken ground on the $300 redevelopment of Phipps Plaza, an upscale shopping mall located in Atlanta’s Buckhead district. The project is a redevelopment of the former Belk department store and surface parking space at the 821,000-square-foot, three-story mall. It includes a new, 150-room hotel by Nobu Hotels, a luxury line co-founded by Robert De Niro. The hotel will offer a rooftop pool, spa and a corporate conference center, as well as a Nobu Atlanta Restaurant, a Japanese eatery that will occupy 10,000 square feet. The redevelopment will also deliver One Phipps Plaza, a 13-story, 350,000-square-foot office building that features a three-story parking garage. Other components of the project include a 90,000-square-foot Life Time Athletic Center with a rooftop pool, beach club and bistro. The redevelopment will also create an outdoor event venue and communal green space. “Phipps Plaza has long been a luxury icon in the Southeast and this expansion will further elevate its exceptional position by creating a reimagined destination to live, work, shop, and dine, unlike any other in the region,” said David Simon, chairman and CEO of Simon. According to …

October 19, 2018

Deer Ridge Memory Care, Puyallup, Washington

Development Multifamily Seniors Housing Washington Western

Koelsch Communities Plans $15M Memory Care Community Puyallup, Washington

by Jeff Shaw October 18, 2018

PUYALLUP, Wash. — Koelsch Communities has unveiled plans for Deer Ridge Memory Care, a 52-unit standalone memory care community in Puyallup, approximately 35 miles south of Seattle. Deer Ridge will total roughly 42,000 square feet, with an estimated project cost of $15 million. The community will stand on a four-acre site that is under contract to close for approximately $2 million later this year. Koelsch plans to break ground in April of 2019, with an anticipated opening in June of 2020. Koelsch is developing the project in partnership with RJ Development. Koelsch will also operate the community following completion, and Koelsch Construction is acting as general contractor. Judy Koelsch and David Goularte of JSK Design will handle interior design work on the project.

October 18, 2018

Arizona Development Multifamily Seniors Housing Western

Brookdale Completes $2.5M Memory Care Expansion at Community in Phoenix

by Amy Works October 18, 2018

PHOENIX — Brookdale Senior Living has completed an expansion at its Brookdale Desert Ridge community in Phoenix, adding 20 units for memory care residents. Brookdale invested approximately $2.5 million into the project. Memory care will be provided through the company’s Clare Bridge program. A grand opening for the expansion was held on Thursday, Oct. 11. Brookdale Senior Living is the largest owner and operator in the United States, with approximately 980 communities in 46 states.

October 18, 2018

Development Industrial Texas

Crow Holdings to Develop 530,000 SF Industrial Facility in North Houston

by Taylor Williams October 18, 2018

HOUSTON — Dallas-based Crow Holdings Industrial has purchased 45 acres in north Houston for the development of Layne Crossing, a 530,000-square-foot industrial project that will encompass six buildings ranging in size from 56,400 to 174,000 square feet. Building features will include 24- to 32-foot clear heights, large truck courts and ample trailer storage. The groundbreaking of Layne Crossing is scheduled for January and delivery is slated for the fourth quarter of 2019. Richard Quarles and Bubba Harkins of JLL represented the seller of the land, Dallas-based Sarofim Realty Advisors. Cory Driskill and Travis Covington represented Crow Holdings Industrial internally.

October 18, 2018

Development Office Texas

AQUILA Nears Completion of 225,000 SF Spec Office Building in Austin

by Taylor Williams October 18, 2018

AUSTIN, TEXAS — AQUILA Commercial is nearing completion of The Preserve at 620, a 225,000-square-foot speculative office building located at 8201 North FM 620 in northwest Austin. The single-story building is slated to be complete before year’s end and has roughly 185,000 square feet still available for lease. Amenities at The Preserve at 620 include a fitness center, sports court and open courtyard spaces. Tech firm Innovative Aftermarket Systems (IAS) has preleased 40,000 square feet at the property.

October 18, 2018

Development Industrial Texas

Hillwood Breaks Ground on 75,000 SF Hangar Facility at Fort Worth Alliance Airport

by Taylor Williams October 18, 2018

FORT WORTH, TEXAS — Hillwood has broken ground on a 75,000-square-foot hangar facility at Fort Worth Alliance Airport for aviation defense firm Airborne Tactical Advantage Co. (ATAC). The facility will support pilot training and professional development in addition to aircraft maintenance. The project is expected to be complete by summer 2019 and could employ as many as 200 personnel.

October 18, 2018

Development Multifamily Seniors Housing Texas

KWA Completes 243-Unit Seniors Housing Community in Metro Dallas

by Taylor Williams October 18, 2018

ALLEN, TEXAS — KWA Construction has completed Larkspur at Twin Creeks, a 243-unit seniors housing community situated on eight acres in the northeastern Dallas metro of Allen. California-based Drever Capital Management and Dallas-based The Alder Group developed the property, which offers 18,000 square feet of amenity space, including a fitness center, crafts studio, game room and private wine lockers. Plano-based Architettura designed the project.

October 18, 2018

Development Illinois Industrial Midwest

Green Bay Packaging to Expand Operations in Illinois With 170,000 SF Complex

by Kristin Harlow October 18, 2018

DOWNERS GROVE, ILL. — Green Bay Packaging (GBP) has broken ground on a new 170,000-square-foot industrial complex in Downers Grove. The building will house a high-tech design department and enable the packaging company to expand warehouse capabilities. A timeline for construction was not disclosed. The Green Bay, Wis.-based company has manufacturing facilities in 14 states.

October 18, 2018

Development Loans Lument Multifamily Northeast Pennsylvania RED Capital Group

RED Capital Group Secures $7.8M Construction Loan for Adaptive Reuse Multifamily Building in Pennsylvania

by David Cohen October 17, 2018

LANDISVILLE, PA. — RED Capital Group has secured a $7.8 million construction loan for Tobacco Road apartments, an adaptive reuse of a historic building in Landisville. The loan will be used to develop the currently vacant brick property into a 66-unit apartment community. The structure, a former tobacco warehouse, consists of four connected buildings and was built in the early 1900s. The property is listed on the National Register of Historic Places. RED Capital Group secured the financing on behalf of developer, S. B. Conrad. The lender was undisclosed. When completed, the complex will include a mix of one-, two- and three-bedroom units.

October 17, 2018

Development Multifamily New Jersey Northeast Seniors Housing

RPM Development Group Opens Green Active Adult Community in Philadelphia Suburbs

by David Cohen October 17, 2018

WESTVILLE, N.J. — RPM Development Group has opened Westville Commons, a 55-plus apartment community in Westville, located just across the Delaware River from South Philadelphia. Affordable units are available for those who qualify, and the community was built to LEED Platinum certification using Passive House green building principles. Founded in 1986, RPM Development Group is one of the leading developers of affordable housing in New Jersey.

October 17, 2018

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