Development

Turnpike-1-Trade-Center-Pilesgrove-New-Jersey

NorthPoint Development Breaks Ground on 954,701 SF Industrial Project in Pilesgrove, New Jersey

by Taylor Williams April 18, 2024

PILESGROVE, N.J. — Missouri-based NorthPoint Development has broken ground on a 954,701-square-foot industrial project in the Southern New Jersey community of Pilesgrove. Designed by studioNorth Architecture and built by Peak Construction Corp., the project represents the fourth building in the Turnpike 1 Trade Center development. Building features will include a clear height of 40 feet, 96 docks, four drive-in doors, 2,000 square feet of office space and parking for 536 cars and 244 trailers. Completion is scheduled for the fourth quarter.

April 18, 2024

Affordable Housing Development Midwest Minnesota Multifamily

Sherman Associates Completes $34M Affordable Housing Development in Minneapolis

by Kristin Harlow April 18, 2024

MINNEAPOLIS — Developer Sherman Associates has completed Ladder 260, a $34 million affordable housing development located at 260 Portland Ave. in the Mill District neighborhood of Minneapolis. Kraus-Anderson was the general contractor for the multi-phase project, which involved the redevelopment of an underutilized city block at Washington and Portland avenues. The first phase of the $161 million development involved a new $12 million fire station for the City of Minneapolis. The final phase, called O2, is a 22-story, 240-unit apartment tower that is slated for completion this fall. Designed by ESG Architects, Ladder 260 rises six stories with 90 units. Amenities include a fitness room, second-floor lounge, rooftop deck, bike storage and pet spa.

April 18, 2024

Development Illinois Industrial Midwest

Northern Builders to Construct Two Industrial Build-to-Suits at Cherry Hill Business Park in Suburban Chicago

by Kristin Harlow April 18, 2024

NEW LENOX AND JOLIET, ILL. — Northern Builders will serve as developer and general contractor for two industrial build-to-suits at Cherry Hill Business Park in New Lenox and Joliet. Agile Cold Storage will occupy a 202,759-square-foot facility on nearly 24 acres with expansion capabilities for an additional 150,000 square feet. The building is slated for completion in the second quarter of 2025. Illinois Truck Group (ITG) will utilize a 33,180-square-foot property as a truck maintenance and dealership facility. The project calls for nine maintenance bays, one wash bay, 5,000 square feet of office space and parking for 200 tractor cabs. Straddling both Joliet and New Lenox, Cherry Hill Business Park is located between I-55 and I-57 with immediate access to I-80 and I-355.

April 18, 2024

Affordable Housing Development Michigan Midwest Multifamily

Cherry Health, Woda Cooper to Build 56-Unit Affordable Housing Community in Wyoming, Michigan

by Kristin Harlow April 18, 2024

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. Inc. have partnered to build Shea Ravines, a 56-unit affordable housing community in Wyoming near Grand Rapids. Michigan State Housing Development Authority has awarded housing tax credits for the $18.2 million development. The project will be located at 2929 Burlingame Ave. SW adjacent to Cherry Health’s Wyoming Community Health Center. The four-story building will offer one- and two-bedroom units for residents who earn up to 80 percent of the area median income. Of the 56 units, 20 will be reserved for people battling homelessness. Amenities will include a multipurpose room, playground and bike storage. The Grand Rapids Housing Commission has awarded project-based rental assistance vouchers to support the 20 units for homelessness. Community Rebuilders will serve as the lead service agency to coordinate supportive services to assist these residents. The project team includes architect Hooker DeJong Inc. Woda Construction Inc. is the general contractor and Woda Management & Real Estate LLC will perform leasing and property management services.

April 18, 2024

Development Multifamily Office Southeast Top Stories Virginia

Carr Properties Acquires Vacant Office Building for Multifamily Conversion in Alexandria, Virginia

by Katie Sloan April 18, 2024

ALEXANDRIA, VA. — Carr Properties has acquired a vacant office building located at 901 N. Pitt St. in the Old Town neighborhood of Alexandria with plans to convert the property into a 250,000-square-foot multifamily community. The site, which will be cleared to make way for the new development, is located roughly seven miles south of Washington, D.C., and 1.5 miles south of the former development site for Potomac Yards, a recently cancelled 9 million-square-foot mixed-use project. The community will rise eight stories and feature 234 units in a variety of configurations, ranging from studio apartments to three-bedroom units. An unspecified number of units will be dedicated to affordable housing. The development will also include below-grade parking, 15,800 square feet of outdoor space, a performing arts venue and 7,000 square feet of ground-floor retail space. Shared amenities are set to include an outdoor swimming pool and a resident lounge and amenity center. Carr Properties plans to break ground on the development this fall with completion slated for late 2026. The community will target LEED Silver certification. The development team for the project includes SK+I Architecture and interior design firm Edit Lab by Streetsense, which partnered with Carr on its previous Union …

April 18, 2024

Development Industrial Texas

HLCI to Develop 246,310 SF Industrial Project in Southeast Austin

by Taylor Williams April 17, 2024

AUSTIN, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop SouthPark 183, a 246,310-square-foot industrial project in Austin. The 19.1-acre site is located within an opportunity zone, approximately nine miles from downtown Austin and two miles from Austin-Bergstrom International Airport. HLCI acquired the land in December with plans to develop three shallow-bay buildings. Construction is scheduled to begin in the first quarter of next year.

April 17, 2024

Roosevelt-Rehabilitation-&-Healthcare-Center-Philadelphia

Development Multifamily Northeast Pennsylvania Seniors Housing

Marquis Completes Phase I of Renovations at 240-Bed Seniors Housing Property in Philadelphia

by Taylor Williams April 17, 2024

PHILADELPHIA — Marquis Health Consulting Services has completed Phase I of a renovation project at Roosevelt Rehabilitation & Healthcare Center in the Rhawnhurst neighborhood of Philadelphia. The 240-bed skilled nursing facility provides post-hospital care, short-term rehab and long-term residential care. A centerpiece of the renovation to date is the addition of a 3,600-square-foot rehab therapy gym and the incorporation of a spacious activities of daily living suite. Renovation highlights also include modernized dining area and lounges, as well as updates to resident rooms and nurses’ stations.

April 17, 2024

Development Maryland Mixed-Use NAI Southeast

NAI Michael Cos. to Develop 600,000 SF Mixed-Use Project in Bowie, Maryland

by John Nelson April 17, 2024

BOWIE, MD. — NAI Michael Cos. will develop South Lake Marketplace, a 600,000-square-foot mixed-use project within the $1.3 billion South Lake development underway in Bowie, a city in suburban Maryland that is roughly equidistant from Baltimore and Washington, D.C. Karington LLC, an affiliate of NAI Michael Cos., owns South Lake, which also features residential units being developed by Chesapeake Realty Partners. South Lake Marketplace will feature a grocery anchor, as well as other retail, restaurant, sports entertainment and hospitality concepts. The development will be situated adjacent to Liberty Sports Park, which features 10 professional sports fields and attracts 344,000 tournament attendees annually, according to NAI Michael Cos. The ceremonial groundbreaking for South Lake Marketplace is expected to take place in May or June.

April 17, 2024

Development Loans Multifamily Southeast Tennessee

Albion Residential Secures Funding, Breaks Ground on 29-Story Apartment Tower in Nashville

by John Nelson April 17, 2024

NASHVILLE, TENN. — Albion Residential has secured a construction loan for the first of two residential towers at Albion Music Row, the company’s previously announced multifamily development in Nashville. The Chicago-based developer and Clark Construction recently broke ground on the first tower, a 29-story high-rise comprising 458 units. Matthew Schoenfeldt, Mary Dooley and Brian Dawson led the JLL team that secured the undisclosed amount of financing for the first tower through Pacific Life Insurance Co. The first high-rise will include micro, studio, one-, two- and three-bedroom apartments, as well as 4,000 square feet of ground-level restaurant/brewery space. Amenities will include indoor and outdoor fitness studios, a rooftop pool and library, coworking space and a music lounge with a recording studio and podcast room. Albion Residential expects to deliver the first units in fall 2026. Upon completion, Albion Music Row will span two acres and comprise 850 apartments, as well as restaurants, shops and a public plaza on the ground level. The design-build team includes Chicago-based Hartshorne Plunkard Architecture and several Nashville-based companies: Barge Cauthen & Associates (civil engineer), Hodgson Douglas (landscape architect), SDL (structural engineer) and I.C. Thomasson (MEP engineer).

April 17, 2024

Acquisitions Development Industrial New Jersey Northeast

CBRE Arranges Sale of Industrial Development Site in Wharton, New Jersey

by Taylor Williams April 17, 2024

WHARTON, N.J. — CBRE has arranged the sale of an industrial development site at 100 E. Dewey Ave. in the Northern New Jersey community of Wharton. Thomas Mallaney and Denise Kokulak of CBRE represented the buyer, a partnership between Commercial Realty Group and North Jersey Development Group, in the transaction. NAI Hanson represented the seller, Air Products and Chemicals Inc. The new ownership plans to construct a 95,000-square-foot building with a clear height of 28 feet, with construction beginning in the coming weeks.

April 17, 2024

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