Development

Gateway Jax Signs Six Tenants at $1B Pearl Square Development in Downtown Jacksonville

by John Nelson August 3, 2026

JACKSONVILLE, FLA. — Gateway Jax has signed six new tenants to leases at Peal Square, a 2 million-square-foot mixed-use project in downtown Jacksonville. The initial retail lineup for Vandeveer, the first mixed-use residential building within the district, will feature dining, wellness and lifestyle retailers and restaurants on the ground floor. The newly announced tenants include Bar Citra (2,000 square feet), Buchner’s Biergarten (outdoor patio space and food truck), PopUp Bagels (1,443 square feet), Go Greek Yogurt (1,141 square feet), JETSET Pilates (2,495 square feet) and Pearl Street Nails (2,032 square feet). Buchner’s Biergarten and JETSET Pilates will open this fall, with additional tenant openings anticipated to continue through early 2027. The tenants join Publix, which will be the first new construction grocery store in the area in more than a decade, and Colletta, an Italian restaurant set to open within the newly restored Hotel Merrydelle, which is a redevelopment of the former Ambassador Hotel that will operate as a Tribute Portfolio by Marriott hotel. Designed by architects including Morris Adjmi, SK+I, Elkus Manfredi and Cecconi Simone, Pearl Square will introduce more than 1,250 new apartments across four residential buildings, including 205 units at Vandeveer; 100,000 square feet of office space; …

August 3, 2026

Development Indiana Midwest Multifamily Seniors Housing

Varcity to Open 239-Unit Retirement Community at Purdue University in West Lafayette

by Kristin Harlow August 3, 2026

WEST LAFAYETTE, IND. — Varcity has unveiled plans to open Varcity at Purdue, a 239-unit, university-based retirement community within Purdue University’s Discovery Park District. Developed in partnership with Purdue University and the Purdue for Life Foundation, the property will bring a new generation of residents to campus. Varcity calls the concept “Retirement Renaissance” and says it creates “a lifestyle built around lifelong learning, meaningful relationships, wellness and continued purpose.” The 13.5-acre project will include villas, townhomes, stacked flats and concierge residences. The community will be co-developed with Atlanta-based Carter and professionally managed by Western States Lodging. Reach Architects and Gensler designed the property. The developer also says Varcity at Purdue represents a new model for higher education partnerships. “By activating underutilized university land, campuses gain a sustainable revenue source while creating opportunities for students through internships, mentorship, healthcare experiences, hospitality and daily intergenerational engagement.” Residents of Varcity could attend lectures from faculty, cheer on the Boilermakers, mentor students, take continuing education classes, enjoy concerts and performances or volunteer their time. Varcity at Purdue marks the first in a growing national portfolio. A second community at Texas A&M University is currently in development, with groundbreaking anticipated in early 2027.

August 3, 2026

Development Midwest Multifamily Wisconsin

Irgens Breaks Ground on 204-Unit Viridia Apartments in Wauwatosa, Wisconsin

by Kristin Harlow August 3, 2026

WAUWATOSA, WIS. — Irgens has broken ground on Viridia Apartments, the company’s first multifamily development, at 10600 W. Wisconsin Ave. in Wauwatosa. The four-story, 204-unit market-rate community will serve as the final component of a larger, 14-acre mixed-use redevelopment by Irgens in the Milwaukee County Research Park. The name Viridia is derived from the Latin word “viridis,” symbolizing nature, growth, renewal and vitality. The property will include a mix of studio, one-, two- and three-bedroom units. Planned amenities include a pool, underground heated parking, a clubroom, fitness center, yoga studio, coworking spaces, a pet run and adjacency to walking trails and a public park. Initial occupancy is slated for November 2027. Irgen’s mixed-use development began with the acquisition, redevelopment and repurposing of a former United Healthcare office building in Milwaukee County Research Park. Additional development on the site includes the revitalized office building, a fully leased retail building and a medical office building. When complete, the development is expected to be valued at more than $100 million. Viridia Apartments is financed with lending from Fifth Third Bank, tax-increment financing from the City of Wauwatosa and equity funding from private investors. The project team includes EUA as architect, Greenfire as general …

August 3, 2026

Affordable Housing Development Loans Multifamily New York Northeast Top Stories

Joint Venture to Undertake $269M Affordable Housing Renovation, Expansion Project in Syracuse

by Taylor Williams August 3, 2026

SYRACUSE, N.Y. — A joint venture between two New York-based firms, Brooklyn-based BFC Partners and SAA Canopy Group, will undertake the $269 million renovation and expansion of Parkside Commons, a 10-building affordable housing development in Syracuse. The project calls for upgrades to all 200 units that are housed within six buildings at Parkside Commons, as well as the ground-up development of two new buildings that will house 193 units. Information on income restrictions was not disclosed. Completion of the renovations and new buildings are slated for early and late 2028, respectively. To finance the project, the joint venture has received a $116 million construction loan from the Urban Investment Group at Goldman Sachs. In addition, New York State Homes and Community Renewal has issued federal and state Low-Income Housing Tax Credits for the project, which are expected to generate a combined $101.6 million in equity through sale to investors. The financing also includes “assortment of low-interest loans and subsidies.” “Parkside Commons has received the necessary subsidy and financing for the long-awaited redevelopment of the campus, which marks an important milestone for our community and for the residents of Parkside Commons,” says Syracuse Mayor Sharon Owens. “This housing redevelopment investment addresses …

August 3, 2026

Development Industrial Texas

Hanover, TIG Complete 213,425 SF Spec Industrial Project in South Houston

by Taylor Williams July 31, 2026

HOUSTON — A partnership between local developer Hanover Co. and Transwestern Investment Group (TIG) has completed Kirby 288, a 213,425-square-foot speculative industrial project in South Houston. The development features a cross-dock configuration, 36-foot clear heights and excess trailer storage. Powers Brown designed the project, and Kimley-Horn acted as the civil engineer. Colliers is the leasing agent. Construction began in August 2025.

July 31, 2026

Development Illinois Midwest Multifamily Office

Skender Begins Conversion of Chicago Office Tower into 320 Apartment Units

by Kristin Harlow July 31, 2026

CHICAGO — Skender has begun construction on the 500 N. Michigan Ave. adaptive reuse project, which will convert the 400,000-square-foot office tower into 320 apartment units on Chicago’s Magnificent Mile. The project team includes Connecticut-based Commonwealth Development Partners and GREC Architects. Completion is slated for late 2027. Originally designed by Skidmore, Owings & Merrill and completed in 1968, the building rises 24 stories and 304 feet tall. The conversion will transform vacant floors three through 23 into residential dwelling units, while a new 25th floor with amenity space will be constructed atop the building, adding 17 feet to its height. Level 24 will house mechanical systems, and floors two through five will include additional amenity programming. Ground-floor retail will be retained. Skender’s scope of work includes full interior demolition of the existing vacant office spaces, elevator modernization throughout all floors and the complete build-out of residential units and amenity spaces.

July 31, 2026

Development New York Northeast Office

JT Magen Completes 42,000 SF Build-to-Suit Office Project in Midtown Manhattan

by Taylor Williams July 31, 2026

NEW YORK CITY — National construction firm JT Magen has completed a 42,000-square-foot office project in Midtown Manhattan that is a build-to-suit for auction house Bonhams. Bonhams is relocating from a 32,000-square-foot space at 580 Madison Avenue to the four-story space at 111 W. 57th St., which will serve as the company’s new flagship location. Gensler served as the project architect.

July 31, 2026

Development Industrial Utah Western

Seefried Industrial Properties, Clarion Partners Break Ground on 265,000 SF Spec Project in Salt Lake City

by Amy Works July 31, 2026

SALT LAKE CITY — Seefried Industrial Properties, in partnership with Clarion Partners, has broken ground on a speculative industrial development at 4950 West 1100 South in Salt Lake City. The project is the firms’ first joint development in the Salt Lake City market. Slated for completion in third-quarter 2027, the development will feature 265,000 square feet of Class A industrial space across two buildings. The buildings will include approximately 79,465 square feet office space, 52 dock-high doors, 12 grade-level doors and 268 parking spaces. The development is designed for logistics, distribution and light manufacturing users. Big-D Construction is serving as general contractor for the project. AE Urbia Architects is architect of record, and Dominion Engineering is serving as civil engineer. Tom Freeman, Jeremy Jensen, Travis Healey and Rob Parise of Colliers are handling marketing and leasing efforts for the development.

July 31, 2026

Affordable Housing Development Florida Loans Multifamily Southeast

Affiliated Development Receives $74M Loan for Mixed-Income Multifamily Development in Fort Lauderdale

by Abby Cox July 31, 2026

FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the development, along with equity from the Affiliated Development Housing Impact Fund and family office capital partners. In addition, the developer secured tax rebates from Broward County and the City of Fort Lauderdale, as well as zoning priority and incentives via Florida’s Live Local Act. Moss Construction will serve as general contractor for The Cove. Situated on the site of a former hotel property, the $123 million multifamily project will reserve 55 percent, or approximately 207 apartments, for individuals and families earning up to 120 percent of the area median income (AMI). The Cove will also feature a resort-style amenity package and a parking garage.

July 31, 2026

Development Industrial Texas

Welcome Group Underway on 250,000 SF Industrial Project in Pearland, Texas

by Taylor Williams July 30, 2026

PEARLAND, TEXAS — Houston-based developer Welcome Group is underway on construction of Lower Kirby Business Park, a 250,000-square-foot industrial project in Pearland, located on the city’s southern outskirts. Spanning 25 acres, the project will comprise four tilt-wall buildings that will range in size from approximately 25,000 to 100,000 square feet. Each building will feature clear heights of up to 34 feet, crane-ready capabilities and flexible office buildouts. KDW is the architect for the project. Preleasing of Phase I is also underway, and completion is targeted for the second quarter of next year.

July 30, 2026

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