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Development

Naval-Air-Propulsion-Center-Ewing-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

KRE Group Begins 345,152 SF Industrial Redevelopment in Ewing, New Jersey

by Taylor Williams

EWING, N.J. — Locally based developer KRE Group has begun a 345,152-square-foot industrial redevelopment in the Northern New Jersey community of Ewing. The project will convert the 26.3-acre site of a decommissioned former naval air propulsion center into a single-story, 285,152-square-foot warehouse and three standalone flex buildings of 20,000 square feet each. The development team will also undertake various infrastructural improvements, including upgraded landscaping and lighting, the addition of a new bus stop, surface parking lots and walking trail, and enhancements to the surrounding roadways. The U.S. Navy operated the site as a vital jet engine test facility from 1951 until 1997, and a redevelopment plan for the site was introduced in 2013. A tentative completion date for the project was not disclosed.

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Woodbury-Commons-Premium-Outlets
DevelopmentNew YorkNortheastRetail

Simon Underway on Expansion at Woodbury Common Premium Outlets in New York

by Taylor Williams

WOODBURY, N.Y. — Simon Property Group is underway on an expansion project at Woodbury Common Premium Outlets, located about 55 miles north of New York City. The project will add 155,000 square feet of new retail and restaurant space, as well as a 200-room hotel, second parking facility and upgraded amenities. A VIP suite with private dressing rooms, a lounge and a private kitchen is also scheduled to open later this year. Simon will also add a new children’s play area, improved crosswalks and wayfinding, and enhanced landscaping to the property, which is home to some 250 tenants.

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Tanzanite-Living-Sacramento-CA.jpg
Build-to-RentCaliforniaDevelopmentSingle-Family RentalWestern

New Growth Living Opens 211-Unit Tanzanite Homes Build-to-Rent Development in Sacramento

by Amy Works

SACRAMENTO, CALIF. — Austin, Texas-based New Growth Living has opened Tanzanite Homes, a build-to-rent community at 2490 Quiet Trail Lane in Sacramento’s Natomas neighborhood. The development offers 211 units in a mix of single-family homes and duplexes. Designed by Jeffrey DeMure + Associates, the majority of residences are grouped as duplex units with attached and detached alley-loaded garages. The two- and three-bedroom homes range from 1,009 square feet to 1,501 square feet, while the 73 one-bedroom units are 726 square feet. Additionally, there are eight single-family detached homes. In-unit features include all-electric appliances, quartz countertops, modern wood-style flooring, spacious closets and smarthome technology. Many of the units also have private fenced-in yards. Tanzanite Homes features four central gathering areas with shared community amenities, including a 2,800-square-foot clubhouse, fitness center, resort-style swimming pool with lounge areas, and an outdoor barbecue kitchen with grilling station, fire pits and green space.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

Michaels Completes Renovation of 201-Unit Affordable Housing Complex in Springfield, Massachusetts

by Taylor Williams

SPRINGFIELD, MASS. — The Michaels Organization, an affordable housing owner-operator, has completed the renovation of Bergen Circle Housing Community, a 201-unit complex in the western Massachusetts city of Springfield. The unit mix consists of 89 one-bedroom units, 72 two-bedroom apartments, 20 three-bedroom residences and 20 four-bedroom units. The majority (170) of the units are reserved for households earning between 50 and 80 percent of the area median income. Michaels bought the eight-building property in 2021 and invested $17 million in capital improvements. MassHousing financed the renovations.

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DevelopmentFeaturesLeasing ActivityRetailWestern Feature Archive

Cannabis Dispensary Development Requires Specialized Site Selection, Design for Success

by John Nelson

By Virginia Maggiore of RDC Although the roadmap to opening a dispensary presents unique challenges inherent to the cannabis industry, the process shares many parallels with traditional retail projects. From selecting the optimal site, designing the brand and interior and implementing the build-out plan, the similarities are evident. However, a pivotal differentiator lies in the need to assemble a team that has experience with cannabis laws, sites, operations and build-outs. The collective expertise comprised by seasoned architects, designers and general contractors is instrumental in navigating the complexities of the cannabis industry, avoiding unnecessary expenses and delays, while ensuring a successful store opening. Selecting the Optimal Site The first step in the process to opening a dispensary involves choosing the optimal property for the storefront. While some entrepreneurs opt for ground-up construction, the majority leverage existing vacant spaces, repurposing them into cannabis dispensaries. Operators that are refurbishing an existing property for retail will want to select a site that boasts a vanilla shell or blank canvas for the new store to build upon. Choosing properties that already contain many of the costly elements like utilities and bathrooms can greatly minimize construction expenses. This allows operators to save their budget for a …

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DevelopmentFloridaRestaurantRetailSoutheastTop Stories

Burger King to Invest $300M to Remodel 1,100 US Restaurants by 2028

by John Nelson

MIAMI — Burger King plans to invest $300 million to modernize 1,100 U.S. restaurants by 2028, according to parent company Restaurant Brands International Inc. (NYSE: QSR). Each restaurant will be renovated in a new layout, called Sizzle, that emphasizes flexibility as well as the digital, pick-up and drive-thru experiences. In addition to the planned renovations, the investment will also cover cash incentives for top-performing operators. “We are committed to giving our guests the very best experience in all our restaurants and that includes a modern, exciting restaurant image and digital experience that exceeds their expectations,” says Tom Curtis, president of Burger King North America. “We are working in close partnership with our franchisees to transform our restaurant footprint across the country and reclaim our flame as a leader in the QSR [quick-service restaurant] industry.” The newly announced initiative, dubbed Royal Reset 2.0, is a continuation of its existing Royal Reset program announced in 2022 that included a $250 million investment in overhauling the physical real estate, tech and kitchen equipment at thousands of Burger King locations. The first Royal Reset plan was part of a $400 million campaign, called Fuel the Flame, that also included $150 million in digital and …

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DevelopmentHospitalityMixed-UseRestaurantRetailSoutheastVirginia

Bruce Smith Enterprise, Cordish Cos. Selected to Develop $1.4B Gaming and Entertainment District in Petersburg, Virginia

by John Nelson

PETERSBURG, VA. — The City of Petersburg has selected Bruce Smith Enterprise and The Cordish Cos. to co-develop a $1.4 billion gaming and entertainment district at the intersection of Wagner Road and I-95 in Petersburg, roughly 24 miles south of Richmond. The Petersburg City Council unanimously approved the joint venture partnership, which responded to a request for proposal (RFP) issued by the city as the preferred development partner on the mixed-use project. Upon completion, Live! Casino & Hotel Virginia will comprise more than 400,000 square feet of gaming, hotel and dining space, as well as 35,000 square feet of meeting and convention space; a 200-room hotel; 1,600 slot machines; 46 table games; a sportsbook; 3,000-seat entertainment venue; and eight food-and-beverage options. The property will be developed, owned and managed by an entity doing business as Petersburg Community Development Investors LLC. According to the developers, the project will create an expected 7,500 new jobs and generate $2.8 billion in economic stimulus within the first 10 years. Projections also include $504 million in tax revenues, including $240 million to the City of Petersburg; $802 million in economic benefits during construction; and $201 million in annual economic benefits each year after opening.

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DevelopmentKentuckyMixed-UseRetailSoutheast

RD Property Group to Break Ground on 122,000 SF Kroger Marketplace at Newton Springs in Lexington, Kentucky

by John Nelson

LEXINGTON, KY. — RD Property Group is underway on the development of a 34-acre mixed-use development located in Lexington. The City of Lexington recently certified plans for the construction of a 122,000-square-foot Kroger Marketplace at the project, dubbed Newton Springs. Plans for the store include a drive-thru pharmacy, adjoining wine and spirits shop and 476 parking spaces. The development also features a recently opened Everhome Suites hotel, as well as two four-story buildings, a restaurant space and three additional buildings. Tenants at the property include Estepp’s Shell, Jimmy Johns, Hot Head Burritos, The UPS Store, Tire Discounters and Starbucks Coffee.

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DevelopmentGeorgiaMixed-UseOfficeRetailSoutheast

Jamestown Completes 115,000 SF Mass Timber Mixed-Use Building at Ponce City Market in Atlanta

by John Nelson

ATLANTA — Atlanta-based Jamestown has completed 619 Ponce, a 115,000-square-foot mass timber building located on the corner of Ponce de Leon Ave. and Glen Iris Drive within the Ponce City Market campus in Atlanta. Pottery Barn has opened within an 18,000-square-foot retail space on the ground floor, and business tech firm Sage has leased 57,000 square feet of office space within the building for its North America headquarters. Amenities at the property — which will target net-zero carbon operations, LEEDv4 Core & Shell certification and Fitwel certification — include onsite daycare and medical facilities, as well as direct access to the Atlanta BeltLine. The design-build team for the project included Handel Architects, JE Dunn and StructureCraft. Marking the first Georgia-grown mass timber building, the property features outdoor space on every level, natural wood columns and ceilings and floor-to-ceiling windows with operable panels. Jamestown owns and manages more than 100,000 acres of timberlands across Georgia, Alabama, South Carolina, New York, Pennsylvania and Indiana. 

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Aspire-A&M-College-Station
DevelopmentMultifamilyStudent HousingTexas

Joint Venture to Develop 873-Bed Student Housing Community Near Texas A&M University

by Taylor Williams

COLLEGE STATION, TEXAS — A joint venture between Harrison Street, The Dinerstein Cos. and Up Campus Student Living will develop an 873-bed student housing community near the Texas A&M University campus in College Station. Dubbed Aspire A&M, the community will be situated within the city’s Northgate neighborhood and will rise 19 stories. The property will include 11,000 square feet of ground-floor retail space and a 718-space parking garage. Shared amenities will include two rooftop pools, fitness facilities, study rooms, a theater and game lounge. The community is expected to be complete in advance of the 2026-2027 academic year.

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