HOUSTON — Locally based developer Lovett Commercial is nearing completion of The Lawndale, a 106-unit multifamily project in Houston’s Pecan Park neighborhood. The complex offers one-, two- and three-bedroom units that range in size from 555 to 1,307 square feet and amenities such as a pool, business center and an outdoor cooking and entertainment pavilion. Half of the residences are reserved for households earning 80 percent or less of the area median income. Construction began in April 2023, and the first residents have begun moving in. Rents start at $1,080 for a one-bedroom apartment.
RALEIGH, N.C. — PruittHealth has broken ground on a $385.5 million redevelopment project at The Oaks at Whitaker Glen, a seniors housing property in Raleigh. Upon completion, the continuing care retirement community (CCRC) property will comprise 246 independent living units in studio, one-, two- and three-bedroom layouts; 82 assisted living apartments; and a new, 106-bed skilled nursing center. The campus, which spans 20 acres, will also feature public-facing retail stores and healthcare space. The Oaks at Whitaker Glen is accepting preconstruction reservations now. A construction timeline was not released.
HAMILTON, N.J. — Lincoln Equities Group has received a $60.8 million construction loan for a 420,024-square-foot industrial project that will be located in the Central New Jersey community of Hamilton. The site at 861 Sloan Ave. spans 48 acres and offers proximity to both interstates 95 and 295. Building features will include a clear height of 40 feet, 84 loading docks, two drive-in doors and parking for 556 cars and 81 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of Lincoln Equities, which is developing the property in partnership with PGIM. Cushman & Wakefield also previously arranged the sale of the site.
DARDENNE PRAIRIE, MO. — St. Louis-based developer Mia Rose Holdings has broken ground on The Prairie Encore, a $90 million apartment and retail development in the northwest St. Louis suburb of Dardenne Prairie. The property will include 190 luxury apartment units along with a 3,000-square-foot, standalone Sugarfire Smokehouse with sand volleyball and pickleball courts. There will also be a Small Sliders restaurant, an 11,000-square-foot building for Mac-A-Doodles Fine Wine, Beer & Spirits, a Starbucks with a drive-thru, a Circle K convenient store and a 7,500-square-foot animal hospital. Sugarfire and Mac-A-Doodles are scheduled to open late this fall. Starbucks is slated to open in mid-2025, with the multifamily and animal hospital following in fall 2025. The four-story apartment building will feature two interior courtyards, a 3,000-square-foot lobby with a leasing office, coffee bar, kitchen, bar and fitness center and various coworking spaces. Outside, there will be surface parking, a large dog park, resort-style pool and community gathering spaces. Rosemann & Associates was the consulting architect, and Hurford Architects was the project architect. The property manager will be 2B Residential.
ORANGE, CALIF. — USA Properties Fund and Riverside Charitable Corp. have started construction of The Orion, an affordable seniors housing community in Orange. Located at 1800 E. La Veta Ave., The Orion will offer 166 affordable one- and two-bedroom apartments with energy-efficient appliances, lighting insulations and windows, as well as low-flow faucets, shower and toilets. Additionally, some apartments will include a balcony. Community amenities will include a clubroom, dog park, fitness center, computer workstations, a community garden with some elevated planters, a courtyard and shaded patio, and secured parking. Residents will also have access to LifeSTEPS, a social-services provider. The Orion will be available to seniors age 55 years and older who earn 30 percent to 70 percent of the area median income for Orange County. USA Properties Fund will manage the community. The City of Orange, County of Orange and Orange County Housing Finance Trust provided financial support for the $64 million project. The California Tax Credit Allocation Committee awarded bond funding for the development. Bank of America offered construction and tax credit equity financing, while Citibank served as the permanent lender.
MCGREGOR, TEXAS — EFC Gases & Advanced Materials has announced plans for a $210 million semiconductor manufacturing plant in McGregor, a city located about 15 miles southwest of Waco in Central Texas. Massachusetts-based EFC has purchased 195 acres within McGregor Industrial Park to serve as the site of the plant. According to the McGregor Chamber of Commerce, the park spans a little over 2,000 acres and is home to a development and test facility for SpaceX, the rocket and spacecraft company owned by Tesla CEO Elon Musk. The EFC facility will feature a central laboratory, a logistics hub and an administrative building in addition to specialty areas for chemical synthesis operations and gas transfill activities. The City of McGregor has committed to funding infrastructure improvements at the site, including the extension of water and wastewater lines, and assisting in the construction of an industrial rail spur to enhance operational efficiency. The project, a construction timeline for which was not announced, is expected to result in the creation of at least 120 new jobs, according to EFC. EFC’s decision to invest in Texas aligns with the state’s preexisting semiconductor manufacturing operations, which include Samsung’s $17 billion plant in Taylor (metro Austin) …
DENTON, TEXAS — Dallas-based MYCON General Contractors has broken ground on an approximately 800-unit self-storage facility for U-Haul in the North Texas city of Denton. Located on a 5.9-acre site on the city’s east side, the facility will consist of three buildings totaling 70,000 net rentable square feet. More specifically, the development will comprise a 28,639-square-foot pre-engineered metal building for U-Box storage; a four-story, 98,512-square-foot self-storage building; and a 2,400-square-foot drive-up storage unit. The project, which marks MYCON’s seventh collaboration with U-Haul, is slated for a March 2025 completion.
CHICAGO — Related Midwest and CRG have unveiled plans to co-develop the Illinois Quantum & Microelectronics Park (IQMP) at 8080 S. DuSable Lake Shore Drive in South Chicago. The quantum innovation campus marks the first phase of a broader 400-acre master plan. PsiQuantum, a quantum computing technology company, will anchor IQMP. The project site is located on the former U.S. Steel South Works site along the Lake Michigan shoreline. IQMP will occupy 128 acres on the southern end of the site. In addition to PsiQuantum, the campus will house cryo facilities and equipment labs as well as research and office spaces for private companies and universities to collaborate. The first phase, designed by Lamar Johnson Collaborative, will occupy approximately 30 acres and is scheduled for completion in 2027. Clayco will serve as the general contractor for the initial phase.
Crossroads Holdings Underway on $300M Mixed-Use Project in Southern Maine, Partners With Wilder Cos.
SCARBOROUGH, MAINE — Developer Crossroads Holdings LLC is underway on construction of Scarborough’s Town Center in southern Maine. Valued at $300 million, the project is located within The Downs, a 577-acre destination that is a redevelopment of a former horseracing complex. Plans call for 320,000 square feet of retail space, 60,000 square feet of medical office space, 240 residential units and a boutique hotel, as well as various open green spaces. Construction began last fall. The development team behind The Downs has partnered with Wilder Cos., a Boston-based development, management and leasing firm, in which Wilder will provide strategic retail and leasing services for the town center development. Wilder is also engaged with a local brokerage firm, The Boulos Co., to assist in securing local retail and restaurant interest.
SOMERVILLE, N.J. — New Jersey-based investment firm TFE Properties has completed Kirby Village, a 174-unit multifamily project in Somerville, about 50 miles southwest of Manhattan. Kirby Village offers one- and two-bedroom units that range in size from 800 to 1,452 square feet. The townhome-style residences feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, dog park and a children’s play area. Rents start at roughly $2,400 per month for a one-bedroom apartment.