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Development

Affordable HousingDevelopmentMidwestMultifamilyNebraska

Annex Group to Build 175-Unit Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group has unveiled plans to build Central at South Haymarket, a 175-unit affordable housing community in Lincoln. The five-story property will consist of one-, two-, three- and four-bedroom units that will be reserved for households whose income level is 50 to 70 percent of the area median income. The nearly $55 million project, which is being built in an area that is currently a parking garage, is slated to open at the end of 2026. Central at South Haymarket will feature amenities such as a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area. Partners on the project include BVH Architecture, REGA Engineering, the City of Lincoln, Impact Housing Indiana Corp. and KeyBank’s debt and equity teams, which provided more than $20 million in total equity, over $22 million in permanent debt financing and more than $40 million in construction financing. Key Bank Capital Markets was the bond underwriter on $26 million in bonds issued by Nebraska Investment Finance Authority. The City of Lincoln issued a 20-year tax-increment financing along with parking rights provided in surrounding city-owned lots and garages to help make the project financially feasible. The project …

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DevelopmentIllinoisIndustrialMidwestOffice

PREMIER Design + Build Group Completes 113,000 SF Headquarters for Heathrow Scientific in Metro Chicago

by Kristin Harlow

VERNON HILLS, ILL. — PREMIER Design + Build Group has completed the new headquarters for Heathrow Scientific, a producer of laboratory supplies and instruments. The 113,000-square-foot facility in the Chicago suburb of Vernon Hills will serve as the central hub for the company’s manufacturing, laboratory and office operations. Following the demolition of an existing structure, PREMIER constructed the two-story building that features a large laboratory space dedicated to product design and quality control as well as an outdoor dining area. The project also includes 12 dock positions and two drive-in doors.

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DevelopmentFloridaLeasing ActivityMixed-UseOfficeSoutheastTop Stories

Amazon to Anchor 1 MSF Wynwood Plaza Mixed-Use Development in Miami

by John Nelson

MIAMI — Amazon (NASDAQ: AMZN) has signed on to anchor Wynwood Plaza, a 1 million-square-foot mixed-use campus nearing completion in Miami’s Wynwood Arts District. The Seattle-based e-commerce giant will occupy 50,333 square feet within the development’s 12-story office tower that is set to deliver in the coming months. The landlords in the lease transaction are New York City-based L&L Holding Co. and Oak Row Equities, which has offices in New York City and Miami. The partners are co-developing Wynwood Plaza with Shorenstein Investment Advisors and investment partner Claure Group, which will also be a tenant in the building. The office tower will span 266,000 square feet and include an array of indoor and outdoor amenities, including an amenity hub on the second floor that will feature a fitness club with high-end equipment, showers and lockers, as well as a golf simulator and conference rooms. Other features of the tower include floor-to-ceiling windows, private tenant terraces and an expansive lobby. Office tenants will have direct access to Wynwood Plaza’s onsite parking garage and ground-level restaurants and shops, as well as a landscaped courtyard and a shaded rooftop area with flexible seating arrangements. Amazon will join other committed office tenants including Claure …

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Texas-Heritage-Marketplace-Katy
DevelopmentMixed-UseTexas

NewQuest Breaks Ground on $400M Mixed-Use Project in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use development in the western Houston suburb of Katy. The site spans 165 acres and fronts both I-10 and the newly completed Texas Heritage Parkway. Plans currently call for approximately 750,000 square feet of retail, restaurant and entertainment space, as well as two apartment communities with about 550 total units and 300,000 square feet of medical office and self-storage space. Target has committed to being a retail anchor with a 149,000-square-foot store. A tentative completion date for the initial phase of construction was not announced.

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K1960-Distribution-Center-Houston
DevelopmentIndustrialTexas

Triten Real Estate to Develop 392,650 SF Industrial Project in North Houston

by Taylor Williams

HOUSTON — Locally based developer Triten Real Estate Partners will build a 392,650-square-foot industrial project in North Houston. The site at the intersection of FM 1960 and Kenswick Drive spans 25 acres, and the development will consist of two front-load buildings. The buildings will total 214,558 and 178,002  square feet and will feature 36-foot clear heights and combined parking for 286 cars and 82 trailers. Method Architecture is designing the project, and Harvey Cleary is the general contractor. Construction is scheduled to begin in the first quarter and to be complete before the end of the year.

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Charlie-Hoboken
DevelopmentLoansMultifamilyNew JerseyNortheast

LCOR Breaks Ground on 386-Unit Multifamily Project in Hoboken

by Taylor Williams

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on a 386-unit multifamily project in Hoboken. The 27-story building will be known as Charlie and will be located within the $900 million Hoboken Connect mixed-use development. Units will come in studio, one-, two- and three-bedroom floor plans, with 20 percent of the residences to be reserved as affordable housing, although specific income restrictions were not disclosed. Amenities will include a resident lounge with package room, concierge and pet spa, as well as a second floor and rooftop amenity space with a fitness center, entertainment kitchen, coworking spaces, dining areas and an outdoor pool. Consigli Construction Co. is the general contractor for Charlie, a tentative completion date for which was not disclosed. Jon Mikula, Jim Cadranell and Michael Lachs of JLL arranged a $155 million construction loan through insurance accounts managed by KKR for the project. The loan carried a five-year term and a floating interest rate.

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ArkansasDevelopmentMixed-UseOfficeRestaurantRetailSoutheast

Walmart Debuts 350-Acre Corporate Headquarters Campus in Bentonville, Arkansas

by John Nelson

BENTONVILLE, ARK. — Walmart has debuted its new 350-acre home office campus in Bentonville that features 12 office buildings. The campus also includes the 8th & Plate food hall that will be occupied by Bentonville Bicycle Co., Flyway Brewing, Gearhead Outfitters, The Gents Place, Hatch Early Mood Food, Jamba Juice, Riserva Bar + Tapas, Swig, Walmart Pharmacy, Wright’s BBQ and Yokozuna Sushi. The campus also offers Little Squiggles onsite childcare and Onyx Coffee Lab, as well as seven miles of walking and biking paths, more than 1,000 bike parking spots, rentable bikes, 300 electric vehicle charging stations and Walton Family Whole Health & Fitness.

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DevelopmentOfficeSoutheastVirginia

HITT Contracting Breaks Ground on 270,000 SF Office Headquarters in Falls Church, Virginia

by John Nelson

FALLS CHURCH, VA. — HITT Contracting has broken ground on its new headquarters facility at 7125 W. Falls Station Blvd. in Falls Church, roughly 10 miles west of Washington, D.C. The property will be a six-story building spanning 270,000 square feet of office and laboratory space, including a 40,000-square-foot research lab that HITT will operate in partnership with Virginia Tech’s Coalition for Smart Construction. The project architect, Gensler, designed the facility to achieve LEED Platinum certification. Upon completion in early 2027, the property will accommodate more than 900 local HITT team members.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Flournoy Development Completes 397-Unit Ellison Mallard Creek Apartments in Charlotte

by John Nelson

CHARLOTTE, N.C. — Flournoy Development Group has completed Ellison Mallard Creek, a multifamily community in Charlotte’s University City submarket. The property features 341 apartments, 56 for-rent townhomes and flexible retail and office space on the ground level configured in a Main Street-style setting. Monthly rental rates range from $1,400 to $2,950, according to Apartments.com. Amenities at Ellison Mallard Creek include greenspace, a resort-inspired pool and entertainment courtyard, communal and private coworking spaces, fitness and wellness center and specialty spaces such as a hobby/craft studio and a resident club room featuring gaming areas and a grab-and-go market.

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Affordable HousingDevelopmentMultifamilySoutheastTennessee

Hunt Capital, Hickory Creek Open Adaptive Reuse Affordable Housing Project in Clinton, Tennessee

by John Nelson

CLINTON, TENN. — Hunt Capital Partners and Hickory Creek Capital Partners have opened Daughtery Lofts, a 39-unit affordable housing property located at 307 N. Main St. in downtown Clinton. The five-story property is an adaptive reuse of the former Daughtery Lofts Furniture Company Building, which was built in 1942 and placed on the National Register of Historic Places in 2010. Daugherty Lofts offers one-, two- and three-bedroom loft-style apartments reserved for families earning 50 and 60 percent of the area median income (AMI). Amenities include a community room, computer lab, central laundry, lounge area and elevators. Historic features of the property include original milk doors, stone exterior, metal casement windows, rustic hardwood floors and a restored skylight on the fifth floor. Partners for Daughtery Lofts include general contractor Frizzell Construction Co., architect Goss Design Development and property manager D&K Management Inc. Financing included $9.1 million in LIHTC and $1.4 million in historic tax credits syndicated by Hunt Capital Partners; a $10.6 million construction loan and $2.1 million permanent loan from Legacy Bank & Trust; and funding from the Tennessee Department of Economic and Community Development and River and Valley Department LLC.

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