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DevelopmentIllinoisIndustrialMidwest

LogiPropCo to Build 171,600 SF Industrial Development Near Chicago O’Hare Airport

by Kristin Harlow

DES PLAINES, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 10-acre site at 424 Howard Ave. in Des Plaines with plans to build a 171,600-square-foot industrial development. Located less than a mile from the Chicago O’Hare International Airport’s north cargo gate, the site sits within two miles of an I-90 four-way interchange. Construction is expected to commence this month. The project will include 35 docks, 136 auto parking spaces and 53 trailer parking spaces. Aaron Martell and Ben Fish of LogiPropCo worked with Tom Rodeno and Mike Senner of Colliers on the land acquisition. The Colliers duo will also serve as the leasing agents. Heitman Architects is the project architect, Jacob & Heffner is the civil engineer and Meridian Design Build is the general contractor. Completion is slated for late summer 2026.

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The-Citizen-Apts-Salem-OR
DevelopmentLoansMultifamilyOregonWestern

Ethos Commercial Advisors Secures Construction Financing for 105-Unit Multifamily Property in Salem, Oregon

by Amy Works

SALEM, ORE. — Ethos Commercial Advisors has secured construction financing for The Citizen, an apartment community in Salem. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated the $22 million, 36-month construction loan at an 82 percent loan-to-cost ratio for Deacon Development. Located downtown and spanning 64,397 square feet of gross building area, The Citizen will offer 105 apartments. Construction began recently with completion slated for spring 2027.

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Melrose-Professional-Park-Gilbert-AZ
ArizonaDevelopmentHealthcareOfficeWestern

Edward Homes Development Breaks Ground on 120,000 SF Medical Office Park in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Edward Homes Development has broken ground on Melrose Professional Park, a Class A medical and office condominium park on the southeast corner of S. Rome and E. Melrose streets in Gilbert. Tom Weinhold, Sheila Bale and Erika Eckblad of Cushman & Wakefield are handling sales efforts for the project. Upon completion, the 120,000-square-foot asset will feature eight approximately 10,000-square-foot and two 20,000-square-foot medical condominium buildings, offering units ranging from approximately 5,000 square feet to 20,000 square feet. The first delivery is scheduled for April 2026, with phased completion through December 2026. Melrose Professional Park is designed as a single-story, 10-building mixed-use office property. The development will offer designated patient drop-off areas, generator pad accessibility, exterior-loaded buildings and planned building signage. Each unit will be delivered in shell condition with HVAC curbs, allowing for customized build-outs.

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1810-Randall-Ave.-The-Bronx
Affordable HousingDevelopmentMultifamilyNew YorkNortheastSeniors Housing

VCD to Develop 180-Unit Affordable Seniors Housing Project in The Bronx

by Taylor Williams

NEW YORK CITY — Vertical Community Development (VCD) will develop a 180-unit affordable seniors housing project at1810 Randall Ave. in The Bronx. Designed by Aufgang Architects, the eight-story building will offer 157 studios, 22 one-bedroom units and a single two-bedroom unit. Information on age and rent restrictions was not disclosed. Amenities will include a fitness center, indoor and outdoor recreational spaces and social support services, and the building will also house church facilities on its ground floor. Construction is scheduled to begin next year and to be complete sometime in 2027.

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CivicDevelopmentIllinoisMidwest

McHugh Construction, Nacional Group Break Ground on $85M Wagner Community Center in Metro Chicago

by Kristin Harlow

ELMHURST, ILL. — McHugh Construction and joint venture partner Nacional Group have broken ground on the new Joanne B. Wagner Community Center in the Chicago suburb of Elmhurst. The nearly $85 million project will replace the former 32,000-square-foot Wagner Community Center with a 127,250-square-foot, two-story facility at 615 N. West Ave. A grand opening is planned for fall 2027. The new center will be approximately four times larger than the former facility, enabling expanded programming and the elimination of longstanding waitlists for youth and adult activities. Designed by the Elmhurst office of Dewberry, the Wagner Community Center will feature an indoor artificial turf field, a full-size gymnasium capable of hosting multiple sports, a three-lane elevated walking track, dedicated early childhood and preschool classrooms with a separate entrance, expanded dance and gymnastics studios, an indoor play area, multipurpose community rooms and administrative offices.

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Affordable HousingDevelopmentMidwestMinnesotaMultifamily

Kraus-Anderson Begins Construction of $24M Affordable Housing Project in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Kraus-Anderson has broken ground on Exodus, a $24 million affordable housing project in downtown Minneapolis. The developer, Aeon, is partnering with St. Olaf Catholic Church on the project, which involves the rehabilitation and addition to an existing eight-story building adjacent to the church. Once complete, the development will provide 72 studio units of deeply affordable housing, designed to support individuals experiencing homelessness and housing instability. Residents will be referred through Hennepin County’s Coordinated Entry and Behavioral Health Systems. Touchstone Mental Health will provide comprehensive supportive services. Through a long-term ground lease, Aeon will be the new owner and operator of the building. Constructed in the 1950s, the building was originally designed to provide dorm-style housing for young professional women working downtown. Over time, the property transitioned to providing temporary shelter for unhoused individuals downtown through Catholic Charities and Hennepin County, before becoming completely vacant. Urbanworks Architecture and Kraus-Anderson will serve as the architect and general contractor. Plans call for the substantial rehabilitation of the building’s interior and connecting a newly built eight-story addition adjacent to the original. There will be community spaces, outdoor green space and a fitness center as well as new mechanical systems. The project is …

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Four-Seasons-Private-Residences-Las-Vegas-NV
DevelopmentHospitalityLoansNevadaTop StoriesWestern

Concord Summit Arranges $781M in Construction Financing for Four Seasons Private Residences Las Vegas

by Amy Works

HENDERSON, NEV. — Concord Summit Capital (CSC) has secured $781 million in construction financing for The Four Seasons Private Residences Las Vegas. Two Roads Development, Azure Resorts & Hotels and Luxus Developments are the borrowers. The full capital stack for the project’s vertical construction includes a $526 million senior loan from J.P. Morgan and $255 million in mezzanine and preferred equity from Sculptor Real Estate and Morning Calm Management. Kevin O’Grady and Tyler Beauregard of CSC served as exclusive advisors to the developers. Four Seasons Private Residences will consist of 171 condominium units and 21 custom-built single-family homes within MacDonald Highlands, a gated enclave in the foothills of Henderson, a city southeast of Las Vegas. Construction is underway, with completion slated for mid-2027. Residences will range from two to five bedrooms, all with views of the Las Vegas Strip. Wimberly Interiors is the interior architect for the project. The property will include roughly 90,000 square feet of Four Seasons amenities, including three outdoor pools and a high-end gym. Wolfgang Puck Fine Dining Group will operate an onsite restaurant. Additionally, the Four Seasons Private Residences features a first-of-its-kind collaboration with RH Contract, a division of luxury lifestyle brand and retailer RH, formerly …

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Carter-Crossing
DevelopmentIndustrialTexas

HLCI Breaks Ground on 1 MSF Industrial Project in South Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Holt Lunsford Commercial Investments (HLCI) has broken ground on Carter Crossing, an approximately 1 million-square-foot industrial project that will be located at 6901 Wichita St. in South Fort Worth. The development will consist of three buildings that will total 142,737, 162,862 and 704,966 square feet. Comerica Bank is financing construction of Carter Crossing, which is expected to be complete in August 2026. Holt Lunsford Commercial is the leasing agent.

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DevelopmentLouisianaSoutheastStudent Housing

C1 Development, GMH Receive Approval for 1,000-Bed Student Housing Development Near Louisiana State University

by John Nelson

BATON ROUGE, LA. — A joint venture between C1 Development and GMH Communities has received approval for a student housing development at 6800 Burbank Drive near the Louisiana State University (LSU) campus in Baton Rouge. The development can span up to 1,000 beds and is set to offer cottage- and garden-style units, as well as townhomes, in two-, four- and five-bedroom configurations. Shared amenities will include a resort-style pool, modern fitness center, resident lounge, business center and study rooms. Construction is expected to begin next fall with completion scheduled for fall 2028.

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Chapter-Alder-Eugene-OR
DevelopmentMultifamilyOregonStudent HousingWestern

CRG, Kenter Capital Break Ground on 491-Bed Chapter Alder Student Housing Community Near University of Oregon

by Amy Works

EUGENE, ORE. — CRG and Kenter Capital have broken ground on Chapter Alder, a 15-story student housing property adjacent to the University of Oregon in Eugene. Located at the intersection of 13th Avenue and Alder Street, Chapter Alder will offer 491 beds in 133 fully furnished units in a mix of studio, one-, two-, four- and five-bedroom floor plans. Each residence will feature tech-forward finishes, stainless steel appliances, in-unit laundry and high-speed internet. Slated for delivery ahead of the fall 2027 academic term, the property will feature private and group study spaces, a fitness center, multiple outdoor social areas and a rooftop terrace with a hot tub and cold plunge, as well as an elevated outdoor patio with fire pits and grilling stations. Additionally, the property will offer secure parking, ample bike storage and 2,000 square feet of first-floor retail space. LJC, a subsidiary of CRG’s parent company, Clayco, designed the property.

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