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Affordable HousingDevelopmentIndianaMidwestMultifamily

Annex Group Opens $23M Workforce Housing Community in Bloomington, Indiana

by Kristin Harlow

BLOOMINGTON, IND. — The Annex Group has opened The Annex of Bloomington, a $23 million workforce housing community located on South Grant Street in Bloomington. The property features 102 studio, one- and two-bedroom units across two buildings. The community is within walking distance of the Indiana University campus. Retail space on the first level is home to a new Bru Burger location from Cunningham Restaurant Group and Coffee Beanery. The project team included Gilliatte General Contractors Inc., architect KTGY and engineer Smith Design Group Inc. STAR Financial Bank provided $18.1 million in funding.

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DevelopmentKansasMidwest

Kansas Children’s Discovery Center Breaks Ground on $10M Expansion in Topeka

by Kristin Harlow

TOPEKA, KAN. — The Kansas Children’s Discovery Center, Topeka’s nonprofit children’s museum, has broken ground on a $10 million expansion project that will more than double the size of the museum from 15,000 to over 30,000 square feet. The expansion will feature an indoor climbing structure, 11 new exhibit experiences, three new learning lab classrooms, a 3,000-square-foot traveling exhibit gallery, indoor-outdoor learning space connecting a teaching kitchen with a garden, Kansas-themed learning opportunities, an inventive makerspace as well as access and safety additions. The project will be funded by a combination of private donations, corporate gifts, grants, Gage Park Improvement Authority sales tax revenue and operating reserves. Public feedback collected on the project included public informational meetings, an online survey and three community listening sessions. Kansas Children’s Discovery Center opened in 2011. Visitors at the museum exceeded 120,000 in 2023, breaking the all-time attendance record set in 2019.

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DevelopmentIllinoisIndustrialMidwest

Principle Construction Completes 282,588 SF Tenant Improvement Project for Tailored Brands in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Principle Construction has completed a 282,588-square-foot tenant improvement project for Tailored Brands at 2000 Deerpath Road in Aurora. The fashion retailer owns brands such as Men’s Wearhouse, Jos A. Bank and K&G Fashion Superstore. The new building will service Chicago, Cincinnati, Detroit and Minneapolis, each of which is currently serviced by other distribution centers in Houston, Pittston and Atlanta. Principle added a dedicated 13,491-square-foot boiler and dry-cleaning room with a specialized mezzanine for pipe support and a new 4,000-amp electrical service to accommodate the facility’s energy demands. Improvements also included 20 new rooftop air conditioning units, 14 interlocking exhaust fans, an ESFR sprinkler system and 29 new loading docks. Partners in Design was the architect.

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Downtown-Center-Celina
CivicDevelopmentTexas

City of Celina Unveils Plans for Downtown Center Civic Project

by Taylor Williams

CELINA, TEXAS — The City of Celina, located north of Dallas near the convergence of Denton and Collin counties, has unveiled plans for Downtown Center. The impetus behind the 115,245-square-foot project is a need for expanded parking in the downtown area as well as new home for city operations. The first phase will center on the construction of a 25,202-square-foot, four-story parking garage totaling nearly 400 parking spaces. Following completion of the garage, the development team will construct a new facility that will house the operations of various city administrative departments, as well as a 26,209-square-foot library and a rooftop community space. Swinerton is the general contractor for the project. Construction on the garage will begin next fall.

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Denton-Point
DevelopmentIndustrialTexas

JLL Arranges Construction Financing for 451,856 SF Industrial Project in Denton

by Taylor Williams

DENTON, TEXAS — JLL has arranged an undisclosed amount of construction financing for a three-building, 451,856-square-foot industrial project in the North Texas city of Denton. Denton Point III, IV and V will feature rear-load configurations, 28- to 32-foot clear heights, 114 total dock doors and bay depths ranging from 160 to 280 feet. Campbell Roche, Will Mogk, Tom Weber, Luke Rogers and Jordan Buck of JLL arranged the five-year loan through First United Bank on behalf of the borrower, Holt Lunsford Commercial Investments, which is developing the project in a joint venture with Dallas-based Silverado Interests. Completion is scheduled for the third quarter of 2025.

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DevelopmentGeorgiaLeasing ActivityOfficeRetailSoutheast

The Athlete’s Foot Opens Corporate Headquarters, Flagship Store in Midtown Atlanta

by John Nelson

ATLANTA — The Athlete’s Foot, a shoe and sports apparel retailer with 400 stores in 24 countries, has opened its corporate headquarters and flagship store in Midtown Atlanta. The retailer’s new home at 931 Monroe Drive also includes a community center component that will serve as “cultural hub” for community engagement. The Athlete’s Foot’s new headquarters and flagship store is situated along the Atlanta BeltLine adjacent to Piedmont Park. Project partners included prominently Black-owned companies, including T. Dallas Smith & Co. (real estate advisor), J.M. Lee Construction Co. (general contractor) and Aysha Pennerman (mural artist).

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

Madison Capital Obtains $34.3M Construction Financing for Apartment Development Near Raleigh

by John Nelson

APEX, N.C. — Madison Capital Group has obtained $34.3 million in construction financing for a new apartment development in the metro Raleigh-Durham area. Affiliate firm Madison Communities is planning the 218-unit community, which will be named Madison Aquiline and will be located in Apex. Warren Johnson and Travis Anderson of JLL arranged the loan through Centennial Bank on behalf of Madison Capital. Madison Aquiline will feature an integrated clubhouse with a fitness center and a resort-style pool and pool deck with grilling stations and a fire pit. Other amenities will include a café island with a wet bar, cyber lounge, flexible workspaces and a coffee bar. The construction timeline was not disclosed.

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261-315-Grand-Concourse-Bronx
DevelopmentLoansMultifamilyNew YorkNortheast

SCALE Lending Provides $135M Construction Loan for Bronx Multifamily Projects

by Taylor Williams

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $135 million construction loan for 261 Grand Concourse and 315 Grand Concourse, two adjacent multifamily projects that will be located in the Mott Haven area of The Bronx. The two buildings will rise 14 stories and house 405 units between them. Residences will come in studio, one- and two-bedroom floor plans, and the development will also include 136 parking spaces and a 5,100-square-foot shared recreation space. Landstone Capital arranged the 24-month loan on behalf of the developer, Beitel Group, which acquired the sites in April 2022 and subsequently demolished existing structures. Completion is slated for late 2025.

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Devon-Self-Storage-Glassboro-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

Inland Private Capital, Devon Self Storage Complete 870-Unit Facility in Glassboro, New Jersey

by Taylor Williams

GLASSBORO, N.J. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed an 870-unit facility in Glassboro, about 25 miles south of Philadelphia. The site at 124 Delsea Drive S formerly housed the facilities of Liscio’s Bakery. The two-story, elevator-served facility features 86,700 net rentable square feet of 100 percent climate-controlled space and includes a vehicle drive-thru area with high-speed roll-up doors, as well as multiple unloading locations and epoxy finished flooring.

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DevelopmentMidwestMultifamilyStudent HousingWisconsin

Subtext, Harrison Street Complete 12-Story Student Housing Development Near University of Wisconsin-Madison

by Kristin Harlow

MADISON, WIS. — Developer Subtext and Harrison Street have completed VERVE Madison, a 12-story student housing development located two blocks from the University of Wisconsin-Madison. ESG Architecture & Design served as the architect for the 536-bed, 142-unit community. The project team also included Stevens Construction Corp., civil engineer JSD Professional Services and landscape architect Damon Farber. Harrison Street served as the lead investor, while Old National Bank was the lender. The 278,143-square-foot property offers fully furnished one-, two-, three-, four- and five-bedroom units. The rooftop features a pool, hot tub, cabanas and gardens. Additional amenities include a multipurpose turf and game zone, fitness center with sauna, second-floor terrace courtyard and study areas. VERVE Madison is fully leased.

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