CHATHAM, N.J. — New Jersey-based developer Walters has completed Cornerstone at Chatham, a 63-unit affordable housing complex in Northern New Jersey. The building sits on a 3.2-acre site that formerly housed a now-defunct restaurant. Units come in one-, two- and three-bedroom formats, range in size from 807 to 1,343 square feet and are reserved for renters earning 60 percent or less of the area median income. Amenities include a fitness center, community room and outdoor grilling and dining stations. Construction began in August 2023.
MIAMI — A partnership locally based firm Mint Developers, hospitality owner-operator Sonesta International Hotels Corp. and property manager AD1 has unveiled plans for an $850 million hotel and residential project in downtown Miami. The James Hotel & Residences in Downtown Miami will comprise 336 fully furnished, for-sale residences and roughly 200 hotel rooms. At 82 stories, the project will be the tallest skyscraper in Miami upon completion, according to the developers. Construction is scheduled to begin in the first quarter of 2026 and to be complete by early 2028, with residential sales expected to launch in the second quarter of this year. Residents and hotel guests will have access to amenities such as a spa, private cabanas with plunge pools, snow and rain rooms and onsite dining. One of the property’s restaurants will include the highest elevation luxury bar in the Americas. The project will also feature a four-story private club where members will have access to the James Hotel. Financing details were not disclosed, but Daniel Berman, president and CEO of AD1, stated that the first round of funding has been secured and that Sonesta is directly contributing to the financing of the project. Berman also said that the project …
DALLAS — KERA will open a new 60,000-square-foot headquarters facility in Uptown Dallas. At the end of February, the public broadcasting group will relocate from 3000 Harry Hines Blvd. to a temporary space at One Arts Plaza in downtown Dallas while the new headquarters is being built. Construction of the new building, the site of which is adjacent to the Katy Trail, will begin in the fourth quarter and is slated for a late-2027 delivery. Architecture firm Corgan is designing the new facility, which will include performance spaces and podcast studios, and Kaizen Development Partners will lead construction.
CRANBERRY TOWNSHIP, PA. — Wegmans, a grocer based in upstate New York, has announced plans to open its first Pittsburgh-area store. An opening date was not announced, but the store will span 115,000 square feet and will be located on a 13-acre site on Cool Springs Drive in Cranberry Township, a northern suburb of the Steel City. Wegmans plans to hire between 400 and 500 full- and part-time employees to staff the new store.
ORLANDO, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has announced the development of Royal Palm at Lake Nona, a 320-unit garden-style multifamily development located in southeast Orlando. Funding for the Class A project totaled $94.3 million, including a $56.6 million construction loan and $17 million in preferred equity. Situated within the 7,000-acre Lake Nona master-planned community, Royal Palm at Lake Nona will be located at 3000 Aria Circle. Upon completion, the new 16-acre development will comprise four four-story buildings and eight carriage house buildings with a unit mix of one- to three-bedrooms. Units will range from 782 square feet to 1,398 square feet in size. Additionally, more than 9,000 square feet will be dedicated to a clubhouse space that will feature a demonstration kitchen and a coworking business center with private offices. Other amenities will include a fitness center, indoor pet grooming center, resort-style pool with a jacuzzi, cabanas and electric vehicle charging stations. Forum Architecture & Interior Design is the project architect. Completion is slated for the first quarter of 2027.
OWINGS MILLS, MD. — Go Store It company Snapbox Self-Storage has opened its newest facility, a 79,710-square-foot building in the Baltimore suburb of Owings Mills. The four-story building comprises 776 units and includes 300 feet of road frontage, 24-hour video surveillance, electronic access controls and security lighting. The facility — which was designed and constructed by ARCO/Murray — will serve residents and businesses in Owings Mills, Reisterstown, Pikesville and Randallstown, Md.
RICHMOND HILL, GA. — Georgia-based general contractor Jim Chapman Construction Group (JCCG) plans to soon begin construction on a 365-unit build-to-rent community in the Savannah suburb of Richmond Hill. The property will be situated on 48 acres in the larger 7,000-acre master-planned community of Heartwood at Richmond Hill and will be developed in two phases. Phase I of vertical construction is slated to begin in August. The development — which will contain 213 lots — comprises attached and freestanding homes with ranch-style and two-story floorplans. Phase II will immediately follow.
SALT LAKE CITY — PCCP has provided a $60 million senior loan to J. Fisher Cos. for the construction of The Edison, a seven-story multifamily community in downtown Salt Lake City. Construction will commence in February with completion scheduled for February 2027. Located at 256 S. 200 East, The Edison will offer 201 apartments across five residential stories atop two levels of parking (158 stalls) and 7,800 square feet of ground-floor retail space. The unit mix will consist of 40 junior one-bedroom units, 105 one-bedroom units and 56 two-bedroom units with an average size of 823 square feet. The units will offer 10-foot ceilings, stainless steel appliances, quartz closets and full-size washers/dryers. Community amenities will include a swimming pool, hot tub, sauna, fitness center, golf simulator, arcade, clubhouse, coworking space, outdoor fireplace and a courtyard with barbecues.
AURORA, COLO. — A joint venture of Draper and Kramer Inc., Koelbel and Co., Mile High Development and Urban Roots Development is opening Tempo Nine Mile Station, an apartment community in Aurora. Leasing is currently underway, with residents slated to move-in in February. Situated at 12150 E. Dartmouth Ave. within the 22-acre The Point master-planned development, Tempo Nine Mile Station features 255 apartments in studio, one-, two- and three-bedroom floor plans, ranging in size from 542 square feet to 1,321 square feet. Interiors offer upscale finishes, including contemporary kitchens with wood-grain cabinets, stainless steel appliances, subway tile backsplashes, quartz countertops and black hardware. All apartments also include plank-style flooring and in-unit laundry, with select residences offering a private balcony. Community amenities will include an outdoor pool and landscaped courtyard; community room, coworking spaces; a “Colorado Room” with bike, ski and kayak storage, hangout space and stations for outdoor gear repair; a yoga studio and rooftop fitness center; and a party deck. The mixed-use building also features 3,000 square feet of ground-floor retail space. Mission Rock Residential will manage the asset. The development team includes KTGY as project architect and Brinkmann Constructors as general contractor. PGIM is the project lender, utilizing the …
CHANHASSEN, MINN. — Marcus & Millichap Capital Corp. (MMCC) has arranged $89.6 million in construction financing for Bennett Apartments and Harlow Apartments in Chanhassen, about 15 miles southwest of Minneapolis. Bennett will feature 184 units and 11,853 square feet of retail space, while Harlow will include 126 units and 3,029 square feet of retail space. The adjacent projects are both slated for completion in 2026. Gary Sefcik of MMCC arranged the financing on behalf of the borrower, Minnesota-based Roers Cos. Kayne Anderson provided $77.5 million in senior proceeds, and SteepRock Capital provided $12.1 million in mezzanine financing.