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Development

Sugar-Land-Town-Square
DevelopmentMixed-UseTexas

City of Sugar Land Underway on Renovation, Modernization of 32-Acre Downtown Commercial Center

by Taylor Williams

SUGAR LAND, TEXAS — The City of Sugar Land, located southwest of Houston, is underway on the $12.5 million renovation and modernization of the city’s 32-acre downtown commercial center, known as Sugar Land Town Square. Under the terms of the funding agreement, which was approved last June, Building B is receiving upgrades to its communal office and amenity spaces, as well as its landscaping and streetscaping. In addition, Building H is seeing renovations to its entryway, lobby and signage, along with updates to the garden area and new furniture, fixtures and equipment. Sugar Land Town Square, which opened in 2003, is also now home to energy contracting firm Primoris Services Corp., which signed a 25,352-square-foot lease this fall. In addition, 17,000 square feet of new restaurant, retail and entertainment concepts have recently been announced at the development.

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Marlo-on-Mill-Pond-Portsmouth-New-Hampshire
DevelopmentMultifamilyNew HampshireNortheast

Partnership Nears Completion of 151-Unit Multifamily Project in Portsmouth, New Hampshire

by Taylor Williams

PORTSMOUTH, N.H. — A partnership between two regional developers, Cathartes and Tidemark, is nearing completion of Marlo on Mill Pond, a 151-unit multifamily project in Portsmouth, located near the Maine-New Hampshire border. The first 45 units of Marlo at Mill Pond, which are housed within the building at 75 Addorio Way, are now available for occupancy, and the remaining units within the buildings at 85 and 95 Addorio Way are scheduled to open in the winter and early spring, respectively. Marlo on Mill Pond offers studio, one-, two- and three-bedroom units that range in size from approximately 600 to 1,270 square feet. Amenities include a fitness center with a dedicated yoga room, a clubroom with a gaming lounge, conference rooms, outdoor grilling and dining stations and a community café. Rents start at roughly $2,450 per month for a studio apartment.

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Centerville-Plaza-Fremont-CA
Affordable HousingCaliforniaDevelopmentMultifamilyWestern

USA Properties Fund Breaks Ground on $174M Affordable Housing Project in Fremont, California

by Amy Works

FREMONT, CALIF. — USA Properties Fund has broken ground on Centerville Plaza, an affordable multifamily community in Fremont. Located at 37358 Fremont Blvd., Centerville Plaza will feature 290 one-, two- and three-bedroom apartments developed in two phases, with the first units available in spring 2028. The first phase will feature a single five-story building with 140 apartments dedicated to households earning 30 percent to 80 percent of the area median income (AMI) for Alameda County, while the second phase will include two buildings offering a total of 150 units that will have a 60 percent AMI rent and income limit. Apartments will include energy-efficient appliances and light fixtures, low-flow sinks, showers and toilets. Community amenities will include a clubhouse with kitchen, fitness center, barbecue areas and a resident resources area with social services provided by LifeSTEPS, as well as 257 parking spaces, including 27 EV chargers. Financing for the $174 million development includes a $12.8 million loan from the City of Fremont, along with tax-credit investor Bank of America and permanent lender Citi Community Capital for the first phase. The Bay Area Housing Innovation Fund provided a $17.1 million loan, and Housing Trust Silicon Valley provided a $10.3 million land acquisition …

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MorningStar-Green-Valley-Henderson-NV
DevelopmentLoansMultifamilyNevadaSeniors HousingWestern

Mesa West Capital Provides $94.2M Construction Loan for Seniors Housing Property Near Las Vegas

by Amy Works

HENDERSON, NEV. — Mesa West Capital has provided a $94.2 million construction loan to a joint venture between affiliates of Bain Capital Real Estate and Investcor for a planned seniors housing community in Henderson. The three-year, nonrecourse, floating-rate loan is secured by MorningStar Green Valley, a to-be-built full-continuum senior living community located at 2155 Village Walk Drive. Slated for delivery in October 2028, MorningStar Green Valley will feature 234 independent living, assisted living and memory care residences. Denver-based MorningStar Senior Living will manage the community upon completion. The construction team includes Martin-Harris Construction, DRC Surveying Nevada and Architectural Nexus.

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DevelopmentIndustrialLoansMidwestOhio

JLL Arranges $155M Construction Loan for Buckeye Yards Industrial Development in Columbus

by Kristin Harlow

COLUMBUS, OHIO — JLL Capital Markets has arranged a $155 million construction loan for Buckeye Yards, a four-building industrial development totaling 1.8 million square feet in Columbus. The project is being developed on a former rail yard site west of downtown Columbus. The first phase of the master-planned development will encompass 153 acres of logistics and distribution space. Danny Kaufman, Lucas Borges, Brian Walsh, Michael Gurwin and Emma Berner of JLL worked on behalf of the borrower, Xebec and its institutional capital partner, to secure a loan through Oxford Properties. Buckeye Yards is the redevelopment of a former Norfolk Southern rail yard into a large-scale logistics campus. Upon completion, the first phase will feature four buildings ranging from approximately 205,000 square feet to more than 910,000 square feet. The development will include both rear-load and cross-dock configurations, clear heights ranging from 36 to 40 feet, 349 dock doors, 1,180 automobile parking spaces and 477 trailer parking stalls. The property will benefit from a 10-year tax abatement structure.

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DevelopmentIndustrialMidwestWisconsin

Briohn Building Corp. Breaks Ground on 112,500 SF Industrial Facility in Cudahy, Wisconsin

by Kristin Harlow

CUDAHY, WIS. — Briohn Building Corp. has broken ground on a 112,500-square-foot industrial facility for developer Twelve2 in Cudahy. The precast concrete building, located at 5030 S. Pennsylvania Ave., will feature 104,000 square feet of warehouse space along with office space and is planned to support around 60 jobs once operational. Frontera Worldwide, a logistics company based in Cudahy, has signed on as the building’s tenant. Completion is slated for spring 2027.

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DevelopmentFloridaIndustrialSoutheast

Creation, PCCP Begin Construction on 330,000 SF Industrial Park in East Tampa

by John Nelson

TAMPA, FLA. — A joint venture between Creation and PCCP has begun construction on 301 Exchange, a three-building, 330,000-square-foot industrial park located on Tampa’s east side. The 51-acre park will be situated at the intersection of U.S. Highway 301 and East Sligh Avenue, roughly two miles from I-4. 301 Exchange will comprise three rear-load buildings featuring 32-foot clear heights. The project team, including design-build firm LGE Design Build, plans to deliver the park by the end of 2027. The project represents the first development in Florida for Creation.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Beacon, Eagle Realty Break Ground on 386-Unit Multifamily Development in Raleigh

by John Nelson

RALEIGH, N.C. — A joint venture between Beacon Partners and Eagle Realty Group has broken ground on Rowan, a 386-room multifamily development located at 301 E. Six Forks Road in Raleigh’s Midtown district. The 12-acre project will comprise 350 apartments and 36 three-story townhomes. Amenities will include a resort-style pool, fitness center, coworking space and a lounge at the top level. Beacon plans to deliver Rowan in early 2029. Bank of America provided an undisclosed amount of construction financing for the project. The design-build team includes LaBella (architect), Level5 Design (interior designer), Wooten (civil engineer) and HK Jordan (general contractor).

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DevelopmentHospitalityLoansSoutheastTennessee

Arriba Capital Arranges $47M Construction Loan for Moxy Hotel Project in Downtown Knoxville

by John Nelson

KNOXVILLE, TENN. — Arriba Capital has arranged a $47 million construction loan for a new 175-room Moxy by Marriott hotel in downtown Knoxville. Arriba Capital arranged the loan through an unnamed national lender on behalf of the borrower, Atlanta-based Vector Hospitality. The loan has a 77 percent loan-to-cost ratio, according to Arriba Capital. Located at 137 S. Central St., the seven-story hotel is slated to open in 2028 and offer three food-and-beverage options: The Getaway rooftop bar, Bar Moxy on the ground level and The Pop-Up Hub in the hotel’s breezeway.

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Company NewsDevelopmentIndustrialMidwestOhioTop Stories

Honda to Invest $3B in Vehicle Assembly Plant in Marysville, Ohio, Create 2,000 Jobs

by Abby Cox

MARYSVILLE, OHIO — American Honda Motor Co. plans to invest $3 billion to build a new vehicle assembly plant in Marysville, a suburb of Columbus. The automaker said in a statement that construction of the new facility, which will be located near its existing East Liberty Auto Plant and Marysville Auto Plant, is anticipated to begin in January 2027. Honda expects the production facility to be fully operational by 2029 and to ultimately employ more than 2,000 people. “By expanding our comprehensive R&D [research and development] and manufacturing capabilities, we will be better positioned to serve our customers and contribute to the economic vitality of the communities where we operate,” says Bob Nelson, executive vice president of American Honda Motor Co., the Japanese automaker’s American U.S. affiliate. The new facility will have the capacity to produce approximately 240,000 vehicles annually, including traditional vehicles with internal combustion engines, all-electric vehicles and hybrid models. The plant is also anticipated to increase Honda’s light-duty vehicle capacity to 1.3 million units annually in the United States. The company currently has 12 manufacturing plants in the country, eight of which produce engines or light-duty vehicles for the auto industry. The new Ohio plant and projects underway …

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