AUSTIN, TEXAS — MDH Partners has delivered 71 Logistics Center, a 215,912-square-foot industrial project located near Austin-Bergstrom International Airport. The Atlanta-based development and investment firm acquired the 45-acre site last summer, and the rear-load facility is divisible to 72,000 square feet. Building features include 32-foot clear heights, 185-foot truck court depths, 2,640 square feet of office space and parking for 142 cars (expandable to 262) and 54 trailers. ARCO Design/Build served as the general contractor for the project. JLL is the leasing agent.
Development
NEW YORK CITY — A partnership between locally based developer BFC Partners, CB Emmanuel, nonprofit organization Catholic Homes, Pinnacle City Living and the New York City Housing Authority (NYHCA) has received $332.3 million in financing for the redevelopment of West Brighton I and II on Staten Island. The project, which is being carried out through the NYHCA’s Permanent Affordability Commitment Together (PACT) program will rehabilitate 574 affordable housing units that are home to more than 1,300 residents. The development team will also reactivate 24 vacant units, with 12 restored as permanently affordable residential units and 12 converted into a new senior center. The financing consists of a combination of debt provided by Freddie Mac and the New York City Housing Development Corp. (HDC), as well as a bridge loan provided by Wells Fargo, historic tax credits, city subsidies and sponsor equity. Buildings will receive both interior and exterior renovations, including façade restorations, roof repairs, new security systems, ventilation improvements and refurnished heating and water systems. In addition, the partnership will undertake comprehensive upgrades to the bathrooms and kitchens with new appliances, fixtures and countertops. Lastly, the grounds will be revitalized with new landscaping, lighting, play equipment, seating, walkways and community …
NEW YORK CITY — A partnership between locally based firm Douglaston Development, Asland Capital Partners, nonprofit organization Breaking Ground and the New York City Housing Authority (NYHCA) will undertake a $275 million renovation of Sack Wern Houses in The Bronx. The seven-building affordable housing property is located in the borough’s Soundview neighborhood and is home to more than 800 residents. The rehabilitation, which is being carried out through the NYHCA’s Permanent Affordability Commitment Together (PACT) program, will cover more than 400 apartments, as well as common areas and building infrastructure and utility systems. All apartments will receive new doors, closets, windows and paint, as well as comprehensive upgrades to bathrooms and kitchens, including new appliances, fixtures, countertops, cabinets, lighting, flooring and showers. Sack Wern buildings will also receive sustainable heat pump technology, façade repairs, ventilation improvements, roof replacements, new solar panels and new security installations such as cameras and improved lighting. Additionally, common areas — entrances, lobbies, mail areas, hallways, stairways, laundry rooms and the community room — will be fully renovated. Lastly, development grounds will be revitalized with new landscaping, children’s play equipment and seating, as well as repaved walkways, more accessible ramps and stairs and an upgraded basketball …
NEW YORK CITY — TYKO Capital, a locally based real estate private equity firm, has provided a $140 million construction loan for a 348-unit multifamily project in Brooklyn. The site at 310 Nevins St. is located in the Gowanus neighborhood. Designed by Fogarty Finger Architects, the project will be a sister building of the 320-unit property at 340 Nevins St. Both properties will feature a mix of floor plans and Class A amenities, as well as a 25 percent affordable housing component for renters earning 60 percent or less of the area median income. Jordan Roeschlaub, Chris Kramer and Michael Dorfman of Newmark arranged the loan on behalf of the borrower, a partnership between Tavros Holdings and Charney Cos. Completion is slated for mid-2027.
Vista Residential Breaks Ground on 277-Unit Mixed-Use Apartment Community in Holly Springs, North Carolina
by John Nelson
HOLLY SPRINGS, N.C. — Vista Residential Partners has broken ground on Main Street Vista, a 277-unit mixed-use apartment community in Holly Springs, a southwest suburb of Raleigh. The 11.7-acre development site is located at the corner of North Main Street and Holly Springs Road. Main Street Vista will feature a mix of one-, two- and three-bedroom apartments averaging almost 1,050 square feet, as well as 19,000 square feet of retail space and 11,000 square feet of live-work space. Select apartments will have a ground-floor office space available for lease to prospective tenants who desire to work from home. Designed by Niles Bolton, Main Street Vista will feature a clubhouse, resort-style swimming pool, fitness center, central green area, pet park and 24/7 package concierge services. Dome Equities and two Ohio-based life insurance companies provided financing for the project. The construction timeline was not disclosed.
DOVER, N.J. — A joint venture between Crossroads Cos. and CrownPoint Group Inc. has broken ground on a 90-unit multifamily project at 80 E. McFarlan St. in Dover, about 30 miles west of New York City. The six-story building will house a mix of studio, one- and two-bedroom units, with nine residences to be set aside as affordable housing. Amenities will include a fitness center, rooftop deck and an entertainment lounge. Minno & Wasko Architects and Planners designed the community, and L2i Construction is the general contractor. Columbia Bank provided construction financing. Delivery is slated for late 2025.
ST. LOUIS — Midas Construction is underway on a 128-room Hampton Inn hotel near the St. Louis Lambert International Airport. Lodging Hospitality Management is the developer for the project, which is connected to the existing Hilton St. Louis Airport Hotel. Completion is slated for December. Located at 10300 Natural Bridge Road, the property will rise six stories. Joining St. Louis-based Midas on the project team are American Electric and Data, CE Jarrell Contracting, Finch Plumbing Co. Inc. and United Fire Protection.
Thompson Thrift Plans 344-Unit Landing at Lemay Multifamily Community in Fort Collins, Colorado
by Amy Works
FORT COLLINS, COLO. — Thompson Thrift has released plans for The Landing at Lemay, a Class A apartment property in Fort Collins. Construction is slated to begin in July and move-ins are scheduled for late 2025. Located on 17 acres at the southeast corner of E. Vine Drive and N. Lemay Avenue, The Landing at Lemay will offer 344 apartments in a mix of one-, two- and three-bedroom configurations. Each apartment will feature stainless steel appliances, a glass-top range, hardwood-style flooring, multiple smart capabilities and full-sized washers and dryers. Select homes may feature a deluxe closet system with shelving, premium lighting and garage options. The property will include two firsts for Thompson Thrift: carriage homes with apartments built over attached private garages and large-scale electric vehicle charging capabilities. Community amenities will include a fully equipped, 24-hour fitness center, resort-style swimming pool, firepits, a billiards and shuffleboard area, dog park, pet spa, community-wide Wi-Fi and an outdoor entertainment kitchen.
NEW YORK CITY — Vornado Realty Trust has completed the Plaza33 project in Midtown Manhattan. Plaza33 is the centerpiece of a $65 million development by Vornado to make the streetscape around Penn Station greener and more pedestrian friendly. The project introduced 16,000 square feet of reclaimed public space, replete with new landscaping, seating and transit mechanisms, as well as spaces for new food-and-beverage operators.
SAN ANTONIO — The Dallas-based data center development arm of Stream Realty Partners has broken ground on a 135-acre hyperscale campus in San Antonio. The site is located near the junction of West Military Drive and Loop 1604 on the city’s west side and can support the development of up to five buildings totaling more than 1.5 million square feet. At full build-out, the facility will have a 200-megawatt capacity. Construction of the first 300,000-square-foot building is underway and is expected to be available for occupancy in the second quarter of next year. Multiple tenants that have requested anonymity have already committed to the project.