Monday, June 9, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

DevelopmentGeorgiaMultifamilySoutheast

Alliance Residential Delivers 340-Unit Prose Columbus Apartments in Georgia

by John Nelson

COLUMBUS, GA. — Alliance Residential Co. has opened Prose Columbus, a 340-unit apartment community located at 6700 River Road in Columbus. Situated less than 80 miles southwest of Atlanta via I-85, the multifamily development features one- and two-bedroom floor plans averaging 960 square feet in size. Monthly rental rates begin at $1,470, according to the property website. Designed by architect Dynamik Design, amenities include a resort-style, saltwater pool with tanning shelves and in-pool loungers, two grilling stations and a resident clubroom with an entertainment kitchen. Additional features include a 24-hour fitness center with Precor equipment, mailroom with Luxor parcel lockers, business center with coworking space and a fenced dog park. Prose Columbus represents the fourth Prose-branded community to open in Georgia. Alliance Residential recently completed Prose LaGrange as well and is under construction on its sixth and seventh Prose developments in the state: Prose Gainesville and Prose McDonough.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLeasing ActivityRestaurantSoutheast

Chick-fil-A to Open Four New Restaurants in Metro Miami

by John Nelson

ATLANTA — Atlanta-based fast-casual brand Chick-fil-A will open four new restaurants in metro Miami. Chick-fil-A has broken ground on the first of the units, a Cutler Bay restaurant that will span 4,800 square feet. Dustin Griffiths of Chick-fil-A and David Emihovich of Katz & Associates represented Chick-fil-A in the lease negotiations. Michael Berkowitz of Berkowitz Development Group and Douglas Landsea of Landsea Development are the landlords. Development is scheduled to begin on three additional restaurants — which will be located in Miami Shores, Pinecrest and Princeton — later this year.

Continue Reading
FacebookTwitterLinkedinEmail
ColoradoDevelopmentIndustrialWestern

Confluent Development Unveils Plans for 175,000 SF Deer Creek Commerce Center in Denver Area

by Amy Works

LITTLETON, COLO. — Confluent Development has unveiled plans for Deer Creek Commerce Center (previously known as Ken Caryl Commerce Center), a 175,000-square-foot industrial project in Littleton, a southern suburb of Denver. Located at the intersection of C-470 and South Kipling Parkway, Deer Creek Commerce Center will consist of two buildings that can accommodate users with requirements of 20,000 to 175,000 square feet. Building features will include ESFR sprinklers, 28-foot clear heights and access to 250 parking spots. Murray & Stafford is serving as general contractor for the development, the groundbreaking of which is slated for later this month. CBRE is the leasing agent for the project.

Continue Reading
FacebookTwitterLinkedinEmail
Innovation-Square-Phase-III-Boston
DevelopmentLife SciencesMassachusettsNortheast

Related Beal Underway on 345,000 SF Life Sciences Project in Boston

by Taylor Williams

BOSTON — Related Beal, the Boston office of Related Cos., is underway on construction of Phase III of Innovation Square, a 345,000-square-foot life sciences project in Boston. The 1.8-acre site is located within Raymond L. Flynn Marine Park in the Seaport District, and the seven-story building is fully preleased to Vertex Pharmaceuticals. A consortium of lenders consisting of Santander Bank, Ullico, LBBW and Washington Capital are providing construction financing for Phase III of Innovation Square, and Basis Investment Group is an equity investor in the project. Completion is slated for 2026. The project is expected to generate as many as 700 construction jobs and approximately 500 permanent jobs for the city.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentIndustrialNew YorkNortheast

Bungalow Projects, Bain Capital Buy Industrial Development Site in Brooklyn for $34M

by Taylor Williams

NEW YORK CITY — Bungalow Projects, a real estate investment firm specializing in media and content production facilities, in partnership with Boston-based Bain Capital Real Estate, has purchased an industrial development site in the Red Hook area of Brooklyn for $34 million. The partnership’s plans for the property at 145 Wolcott St. include a 225,000-square-foot production facility with four soundstages averaging 18,000 square feet each, as well as 82,000 square feet of ancillary production support space and 200 below-grade parking spaces. David Behin of Newmark represented ownership in its off-market purchase of the property.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentKansasMidwestMultifamily

Annex Group Underway on $61M Affordable Housing Community in Wichita, Kansas

by Kristin Harlow

WICHITA, KAN. — The Annex Group is underway on the development of Union at Purple Heart Trail, a $61 million affordable housing community in Wichita. The property will offer 240 units for households whose income level is at or below 60 percent of the area median income. Completion is slated for early 2026. The project will encompass two four-story buildings surrounded by landscaping and open space. Amenities will include a community center with fitness center, media center, business center, outdoor gazebo, playground, dog park, walking path and picnic areas. Project partners include: HDJ as the architect; Baughman for civil engineering, surveying and planning; Summit LIHTC Consulting; the City of Wichita, which provided incentives and $45.4 million in tax-exempt bonds; and Kansas Housing Resources Corp., which issued the tax credit award. Aegon Asset Management provided $26.8 million in federal tax credit equity and $18.4 million in state tax credit equity, and Bank of America provided $45.5 million in construction financing. Merchants Capital provided $14.4 million for the project.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseMultifamilyNew YorkNortheastTop Stories

TF Cornerstone Nears Completion on 1.4 MSF Residential Development in Queens

by John Nelson

NEW YORK CITY — New York City-based developer TF Cornerstone is nearing completion on 2-20 and 2-21 Malt Drive, a 1.4 million-square-foot apartment complex in the Long Island City neighborhood of Queens. At full build-out, the project will deliver 1,386 apartments across two buildings, as well as retail space and a public park. 2-20 and 2-21 Malt Drive are situated on Malt Drive, a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The project is located within the 30-acre Hunter’s Point South mixed-use development. The South building at 2-20 Malt Drive will rise 33 stories and feature 575 units. The adjacent North building will comprise 811 apartments across two towers at 2-21 Malt Drive. Thirty percent of units at both buildings will be set aside as affordable housing, which will be leased at 130 percent of the area median income. The buildings were designed by SLCE Architects. Planned amenities include on-site parking, bicycle storage, co-working space, children’s playrooms, lounges, fitness centers, shared laundry rooms as well as in-unit washers & dryers, roof decks with BBQ grills, sundecks and courtyards. 2-20 Malt Drive will also …

Continue Reading
FacebookTwitterLinkedinEmail
Torrey-Chase-Apartments-Houston
Affordable HousingDevelopmentMultifamilyTexas

Joint Venture Delivers 280-Unit Affordable Housing Project in North Houston

by Taylor Williams

HOUSTON — A joint venture between the principals of Westmont Hospitality Group, STOA Architects and DC Partners has delivered Torrey Chase Apartments, a 280-unit affordable housing project in North Houston. The property consists of five buildings that house one- and two-bedroom units that are reserved for households earning 60 percent or less of the area median income. Amenities include a pool, outdoor grilling and dining stations, a dog park and a children’s play area. Frank & Hill Architects designed Torrey Chase, which was 75 percent preleased as of the grand opening ceremony in April.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMultifamilyTexas

David B. Norton Inc. Arranges $18.7M in Financing for Multifamily Project in Boerne, Texas

by Taylor Williams

BOERNE, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $18.7 million in construction and equity financing for a 125-unit multifamily project in Boerne, a northwestern suburb of San Antonio. The building will rise four stories and total 98,000 square feet of rentable space. Units will come in studio, one- and two-bedroom floor plans and feature an average size of 782 square feet. Construction is set to begin immediately and last about 18 months. The borrower and direct lender were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Monmouth-Square-Mall-Eatontown-New-Jersey
DevelopmentNew JerseyNortheastRetail

Kushner Begins $500M Redevelopment of Monmouth Mall in Eatontown, New Jersey

by Taylor Williams

EATONTOWN, N.J. — New York City-based Kushner Cos. has begun the redevelopment of Monmouth Mall in Eatontown, roughly 50 miles outside New York City, a project that is valued at approximately $500 million. Under the current plans, the redevelopment will convert the mall into a mixed-use destination with 900,000 square feet of retail and restaurant space and 1,000 residential units. Whole Foods Market will anchor the retail component of the project, which will also feature public green spaces, pedestrian pathways and medical office space. Construction will include the demolition of 600,000 square feet of retail space at the site. According to its Wikipedia page, Monmouth Mall originally opened in 1960 and today features approximately 1.5 million square feet of shopping, dining and entertainment space.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts