Sunday, May 25, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

DevelopmentIllinoisIndustrialMidwest

Meridian Completes 400,112 SF Headquarters Project for RIM Logistics in Bartlett, Illinois

by Kristin Harlow

BARTLETT, ILL. — Meridian Design Build has completed a 400,112-square-foot corporate headquarters development for RIM Logistics Ltd. in the Chicago suburb of Bartlett. The project involved the renovation of a recently constructed, speculative industrial building that RIM acquired in early 2024. Dan Smolensky of TMG Real Estate Advisors assisted RIM in the acquisition. Michael Androwich Jr., John Cassidy and Chris Nelson of Lee & Associates represented the seller, Midwest Industrial Funds. Meridian collaborated with RIM, CBRE/Turner & Townsend, Heitman Architects, V3 Cos. and the Village of Bartlett to take the project from concept to completion in less than 12 months. The multi-phase project involved enhancements to the building façade and construction of a second floor to support roughly 40,000 square feet of office space. Employee amenities include a café, fresh market, bike storage room and fitness center. The building is adjacent to a naturalized wetland area. Reclaimed cargo containers and a salvaged semi-trailer were utilized to create unique architectural accents. Electric vehicle charging stations, lighting controls and other sustainable design elements helped RIM achieve its goal of LEED certification. Warehouse improvements included accommodations for storage mezzanines, automatic storage and retrieval systems, narrow aisle racking and hazardous materials/aerosol storage areas. The …

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMidwestMultifamilyOhio

Woda Cooper, IMPACT Open 102-Unit Affordable Housing Community in Whitehall, Ohio

by Kristin Harlow

WHITEHALL, OHIO — Woda Cooper Cos. Inc. and co-developer IMPACT Community Action have opened The Enclave in Whitehall, six miles east of Columbus. The 102-unit affordable housing community is located at 3540 E. Main St. The $29.9 million development is reserved for renters who earn between 30 and 80 percent of the area median income. Rents range from $435 to $1,240 per month, depending on income restriction and size of unit. The City of Whitehall approved a Payment in Lieu of Taxes related to the real estate taxes for 15 years on 100 percent of the residential improvements. The development also received significant support from Franklin County. The Board of Commissioners approved a permanent mortgage loan through its Magnet Fund program. The project also benefits from a $25 million linked deposit fund created by the Franklin County Treasurer Brooks Sullivan. The four-story building features a large mural created by Ohio-based muralists Lucie Shearer and Thom Glick. Units at The Enclave offer one-, two- and three-bedroom layouts. Several units are adapted for those with mobility challenges and/or sight and hearing disabilities. Amenities include a community room with kitchenette and management office. The development is certified LEED Gold. The project also features …

Continue Reading
FacebookTwitterLinkedinEmail
Cornerstone-at-Galloway
Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Walters Underway on 66-Unit Affordable Housing Project in Galloway, New Jersey

by Taylor Williams

GALLOWAY, N.J. — Locally based developer Walters is underway on construction of Phase I of Cornerstone at Galloway, a project in southern coastal New Jersey that will deliver 66 affordable housing units to the local supply. Residences will be furnished with full-size washers and dryers and fully equipped kitchens, and amenities will include a multipurpose clubhouse with a fitness center, as well as a children’s tot lot, basketball court and computer workstations. Cornerstone at Galloway will ultimately offer 198 units in one-, two- and three-bedroom floor plans that will be developed across two phases and will be reserved for households earning 60 percent or less of the area median income.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityNevadaRetailTop StoriesWestern

Caesar’s Entertainment Begins $160M Transformation of Harveys Lake Tahoe Casino, Hotel in Nevada

by John Nelson

STATELINE, NEV. — Caesar’s Entertainment (NASDAQ: CZR), a gaming and casino giant based in Reno, has begun the $160 million transformation of Harveys Lake Tahoe, a 1.6 million-square-foot hotel and casino located in Stateline. The redevelopment project will feature upgrades, accommodations, elevated dining and gaming options and a new contemporary design. Beginning July 1, the resort will operate as Caesars Republic Lake Tahoe Hotel & Casino. “This transformation honors the storied history of Harveys while introducing modern amenities and elevated experiences that will redefine luxury in Lake Tahoe,” says Karie Hall, senior vice president and general manager of Harrah’s and Caesar’s Republic Lake Tahoe. The 88,000-square-foot casino floor at Caesars Republic Lake Tahoe will be reimagined with fresh carpeting, lighting, tables, chairs and digital displays, while also including new slot machines, a high limit room and a World Series of Poker room. The lobby will also be redesigned. The resort’s towers, Remus Tower and Romulus Tower (formerly Mountain Tower and Tahoe Tower), will also be improved. All rooms in the Remus Tower will be remodeled, while Romulus Tower will receive a refresh after previously being fully redesigned in 2020. Additionally, butler service for select suites will be available for both hotels. …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareOfficeTexas

Tannos Development Completes 106,000 SF Office, Healthcare Building in Friendswood, Texas

by Taylor Williams

FRIENDSWOOD, TEXAS — Locally based firm Tannos Development Group has completed construction of a 106,000-square-foot office and healthcare building in Friendswood, a southeastern suburb of Houston. The four-story building is located at 1715 S. Friendswood Drive and had a total price tag of $23 million. University of Texas Medical Branch (UTMB) has leased the entire fourth floor of the building to house its primary and specialty care practices. The building also houses an onsite pharmacy and an expanded imaging suite that includes two radiology rooms and ultrasound capabilities.

Continue Reading
FacebookTwitterLinkedinEmail
La-Central-Bronx
Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheast

Hudson Cos., BRP Receive $343M in Financing for South Bronx Affordable Housing Project

by Taylor Williams

NEW YORK CITY — A partnership between locally based owner-operators, The Hudson Cos. and BRP Cos., has received $343 million in financing for Phase II of La Central, a multifamily project in the South Bronx that will add 420 affordable and supportive housing units to the local supply. The second phase will encompass Building C (166 units) and Building E (254 units), which will rise 13 and 26 stories, respectively, and house one-, two-, three- and four-bedroom units that will be reserved for households earning between 30 and 80 percent of the area median income. In addition, Phase II, which is slated for a 2028 completion, will include 1,567 square feet of commercial space, 13,000 square feet of community space and 7,134 square feet of public garden space. Building C will be constructed to meet Passive House standards, operating entirely on electricity to eliminate carbon emissions, while Building E will be built to achieve LEED Gold certification. Following completion of Phase II, La Central will comprise more than 1,000 units across five buildings. Buildings A and B, which opened in 2021, house nearly 500 affordable apartments between them, and Building A is also home to a YMCA. Building D, completed …

Continue Reading
FacebookTwitterLinkedinEmail
Stonington-Village
ConnecticutDevelopmentLoansMultifamilyNortheast

JLL Arranges $41.5M Construction Loan for Multifamily Project in Stonington, Connecticut

by Taylor Williams

STONINGTON, CONN. — JLL has arranged a $41.5 million construction loan for Stonington Village, a 160-unit multifamily project in southern coastal Connecticut. Stonington Village will consist of six buildings, including a clubhouse, pool and parking facilities. Units will come in studio, one-, two- and three-bedroom floor plans, including an affordable housing component, and the development will feature approximately 10,000 square feet of ground-floor retail space. Henry Schaffer and Madeline Joyce of JLL arranged the five-year, fixed-rate loan through Liberty Bank on behalf of the locally based developer, READCO. Completion of the first phase of construction is slated for 2027.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansMultifamilySoutheast

MG Developer Obtains $105M Construction Loan for Multifamily Development in Hialeah, Florida

by John Nelson

HIALEAH, FLA. — MG Developer has obtained a $105 million construction loan for Metro Parc South, a 347-unit apartment community located at 954 and 934 E. 25th St. in Hialeah, a suburb of Miami. The multifamily project will be part of MG Developer’s 2.3 million-square-foot Metro Center master project that also includes the 10-story Metro Parc tower, the 55-unit Metro Station and the 620-unit Metro Parc North community. New York-based SCALE Lending, the debt financing arm of Slate Property Group, provided the new loan to MG Developer, which plans to break ground on Metro Parc South in the second quarter. Tal Bar-Or, David Strongwater and Parker Thelander of Lantern Real Estate arranged the financing. The development will comprise studio, one- and two-bedroom apartments. The design-build team includes Miami-based Modis Architects and Coral Gables-based KAST Construction.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaMultifamilySoutheast

Pinnacle Opens 215-Unit Affordable Housing Community in South Miami-Dade County

by John Nelson

PRINCETON, FLA. — Miami-based Pinnacle has opened Pinnacle at Tropical Pointe, a new 215-unit affordable housing community located at 25155 S.W. 136th Ave. in Princeton, a city in south Miami-Dade County. The property features a mix of one- to four-bedroom apartments spread across six garden-style buildings, with amenities including a swimming pool, fitness center, business center and a playground. The community is designated for households earning up to 60 percent of the area median income. Pinnacle’s capital partners on the project included Bank of America, the Florida Housing Finance Corp., Miami-Dade County and Citibank.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestMinnesota

PCCP, Endeavor Begin Third Phase of Development at Arbor Lakes Business Park in Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — A joint venture between PCCP LLC and Endeavor Development has begun the third phase of development at Arbor Lakes Business Park in the Twin Cities suburb of Maple Grove. The partnership has developed two prior phases totaling four buildings and 849,138 square feet. The third phase encompasses a 197,964-square-foot industrial project on 12.5 acres. Completion is slated for 2026. The building will feature a clear height of 32 feet, 3,000 amps of power, 18 dock doors, two grade-level doors and a 120-foot truck court. Arbor Lakes Business Park is located at the intersection of I-94 and I-694.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts