THE WOODLANDS, TEXAS — Bionova Scientific, a California-based biologics and pharmaceutical company, has opened a new life sciences facility in The Woodlands, about 30 miles north of Houston, according to reports from multiple local new sources such as the Houston Business Journal and Community Impact Newspaper. The former publication reports that the facility is valued at approximately $100 million and would be “used for plasmid DNA and viral vector manufacturing, which plays a role in cell and gene therapy.” Bionova announced the project in summer 2024.
HOUSTON — Locally based developer Triten Real Estate Partners has broken ground on a 392,650-square-foot industrial project in North Houston. The site spans 25 acres at the corner of FM 1960 and Kenswick Drive, and the development will consist of two front-load distribution buildings. Method Architecture is designing the project, and Harvey Builders is serving as the general contractor. CBRE is the leasing agent. Completion is scheduled for February 2026.
NEW YORK CITY — Merchants Capital has arranged $231 million in financing for Eastchester Gardens, an 877-unit affordable housing community in The Bronx. The 10-building development was originally constructed in 1950 and is home to nearly 2,000 people. The bulk of the financing consists of a $221.7 million, 30-year Freddie Mac CME permanent loan, proceeds of which will be used to fund capital improvements and preserve affordability of all units for renters earning 60 percent or less of the are median income. Capital improvements will include upgrades to heating, cooling, plumbing, lighting and electrical systems, as well as new flooring, kitchens and bathrooms and upgrades to common areas and outdoor spaces. In addition, Eastchester Gardens will be listed on the National Register of Historic Places, enabling the use of federal historic tax credits to support the property’s revitalization. The project team includes MDG Design + Construction, Infinite Horizons, Wavecrest Management and the New York City Housing Authority. Construction is underway and expected to be complete in 2028.
WILTON, CONN. — A partnership between AMS Acquisitions and Avenue Realty Capital has broken ground on a $95 million multifamily project in Wilton, located in southern Connecticut’s Fairfield County. The development will offer 208 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking space, music room and outdoor kitchens and grilling stations. Morris Betesh, Alex Bailkin and Matt O’Hanlon of Arrow Real Estate Advisors arranged a $71 million construction loan for the project through Madison Realty Capital. Scott Gance of Partners Commercial Real Estate represented the joint venture in its acquisition of the land. A tentative completion date was not announced.
NEW YORK CITY — A partnership between Safehold (NYSE: SAFE), a New York City-based REIT that specializes in ground-lease deals, and The Michaels Organization will develop The Benjamin, a 364-unit apartment community in the Central Massachusetts city of Worcester. Residences will come in studio, one- and two-bedroom floor plans and will feature private balconies or courtyards. Amenities will include coworking areas, a game room, roof deck, fitness center, pet spa and work-from-home spaces. A construction timeline was not announced.
BOUND BROOK, N.J. — Locally based developer Denholtz has completed The Rail at Bound Brook, a 143-unit multifamily project located about 50 miles southwest of Manhattan. The six-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas. Citizens Bank financed the project, construction of which began in May 2023. Rents start at approximately $1,800 per month for a studio apartment.
STEAMBOAT SPRINGS, COLO. — Newmark has arranged a $63 million construction loan for the development of the first phase of ROAN Steamboat Springs, a multi-phased, lift-serviced residential community within Wildhorse Meadows in Steamboat Springs. The borrower is a Steamboat Meadows LLC, a partnership between RAL Development Services, KZ Capital and Latitude Investment Properties. Jordan Roeschlaud, Jonathan Firestone, Nick Scribani and Tim Polglase of Newmark Debt & Structured Finance arranged the financing with Builders Capital. Ryan Shattuck and Jon Wade of The Steamboat Group are marketing the property.
GREENSBORO, N.C. — JetZero, a California-based aerospace startup company, will open a $4.7 billion manufacturing facility at Piedmont Triad International Airport in Greensboro. Construction on the facility is expected to begin in the first half of 2026, with the first deliveries beginning in the early 2030s. The facility will house production of the company’s commercial all-wing design airplane titled Z4. Once the site is operational, the company’s headquarters will be relocated from Long Beach, Calif. to Greensboro. JetZero projects that the facility will account for the creation of about 14,500 new jobs by 2063, providing opportunities for collaboration with academic and vocational training institutions. “North Carolina offers the ideal combination of talent, infrastructure and forward-thinking leadership to support our mission to reshape aviation,” says Tom O’Leary, CEO and co-Founder of JetZero. JetZero has partnered with the smart infrastructure, electrification and automation divisions of German congolomerate Siemens to design a “factory of the future” that will be fully digital and AI-driven in order to increase speed, cut costs and improve quality to outpace original equipment manufacturers. Z4 planes will be able to accommodate 250 passengers with up to 50 percent better fuel efficiency than today’s commercial tubes and wing jets, according to JetZero. By …
HOUSTON — Locally based developer Midway has topped out CITYCENTRE Six, a 320,000-square-foot office building in West Houston. The 19-story building is being developed adjacent to a new half-acre urban plaza, which was designed by OJB Landscape Architecture, within the 47-acre mixed-use development of the same name. Partners Real Estate is the marketing agent for the project, which is 65 percent preleased to a single anchor tenant. Completion is scheduled for next spring.
DURHAM, N.C. — Durhamite Holdings, a locally based, privately owned real estate investment group, plans to renovate and rebrand SouthCourt, a 139,282-square-foot office building in Durham. Planned renovations include a fully redesigned main lobby, exterior improvements, a multipurpose room for tenant events and meetings and a new amenity complex featuring a hotel-style lounge, game room, collaboration space and a kitchen and bar. Durhamite also plans to revitalize the building’s outdoor seating areas and create access to Joe Van Gogh Café on the ground level. The property, rebranded as Durhamite SouthCourt, will also house Orenge South Durham, a 17,000-square-foot coworking space with private offices. Dennis Hurley of JLL is leading the leasing efforts at Durhamite SouthCourt, which will soon welcome two new tenants: RVE and Gameday Men’s Health.