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Avara
DevelopmentFloridaMultifamilySoutheast

Mast Capital, Rockpoint Deliver 178-Unit Luxury Apartment Complex in Miami Beach, Florida

by Abby Cox

MIAMI BEACH, FLA. — Mast Capital and Rockpoint have delivered Avara, a 178-unit luxury apartment community located in Miami Beach. The eight-story community features one- to three-bedroom floorplans ranging in size from 560 square feet to 1,410 square feet, as well as penthouse suites. Monthly rental rates begin at $3,200. Designed by Arquitectonica, CID Design Group and Within Hults + Partners, Avara comprises a variety of amenities such as a bayfront pool deck on the second floor with shaded cabanas and a fully equipped outdoor kitchen with grilling stations; a 1,500-square-foot fitness center, clubroom and game lounge; and a flexible work center with conference rooms and private offices. Additional amenities include dedicated bike storage, a dog park, pet spa and full-time concierge services.

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Sprouts Farmers Market
DevelopmentRetailSoutheastTennessee

GBT Realty to Develop Sprouts Farmers Market at Port Royal Marketplace in Metro Nashville

by Abby Cox

SPRING HILL, TENN. — GBT Realty has submitted plans to develop a Sprouts Farmers Market grocery store to anchor Port Royal Marketplace, a planned retail center in Spring Hill, approximately 35 miles south of Nashville. Following city approvals, GBT anticipates construction to commence in early 2026, with completion planned for early 2027. Situated on the southwest corner of Duplex and Port Royal roads, Port Royal Marketplace is expected to total 46,000 square feet and will feature a 23,000-square-foot Sprouts and 16,000 square feet of inline shops, as well as a 6,800-square-foot shop building. In addition, three outparcels will front Duplex Road. A range of possible tenants could include medical services, restaurants, ice cream or coffee shops, apparel and fitness retailers.

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1-Riva-Row-The-Woodlands
DevelopmentMultifamilyTexas

Howard Hughes Corp. Completes 268-Unit Multifamily Project in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHH) has completed 1 Riva Row, a 268-unit multifamily project located about 30 miles north of Houston in The Woodlands. The development features a 13-story tower and a four-story residential living building with two-story townhomes on the ground level, as well as traditional studio, one-, two- and three-bedroom floor plans. Amenities include a pool with cabanas, outdoor grilling and dining areas, a 24/7 fitness center, sports lounge and a rooftop terrace. Residents will also have access to roughly two miles of walking and jogging trails along The Woodlands Waterway. Construction began in September 2023.

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DevelopmentIndustrialLouisianaSoutheast

Saronic to Invest $300M to Expand Shipyard in Franklin, Louisiana

by John Nelson

FRANKLIN, LA. — Saronic Technologies, an Austin-based manufacturer for the defense and space industries, has announced plans to invest $300 million to expand its existing shipyard in Franklin, a city in southern Louisiana’s St. Mary Parish. The shipyard first became operational in April. The new investment will allow Saronic to meet client demand for its fleet of autonomous ships, or Autonomous Surface Vessels (ASVs). The company broke ground last month on the expansion, which will add 300,000 square feet of manufacturing space to its site near the Atchafalaya River, which feeds into the Gulf of Mexico. The project will comprise three new slips, expand its existing warehouse and establish a production line for assembly of its ASVs, namely Marauder, the company’s 180-foot autonomous ship. Saronic worked with Louisiana Economic Development, St. Mary Parish and other government offices on the expansion, which will add 1,500 skilled jobs to the Gulf Coast region. Private partners on the design-build team include JacobsWyper Architects, P2S, KPFF, JE Dunn and Alberici. The project is slated for completion by the end of 2026, with expanded operations coming on-line in early 2027. Saronic is also planning its next-generation Port Alpha shipyard, details of which were not released.

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DevelopmentFloridaMixed-UseMultifamilyOfficeRetailSoutheast

Allen Morris Co. Obtains $138.5M Construction Loan for Coconut Grove Mixed-Use Project in Miami

by John Nelson

MIAMI — Allen Morris Co. has obtained a $138.5 million construction loan for Ziggurat, a mixed-use development located at 3101 Grand Ave. in Miami’s Coconut Grove neighborhood. Faisal Ashraf of Lotus Capital Partners arranged the loan through BDT & MSD Partners and BHI, the U.S. bank of Israel-based Bank Hapoalim. Further details of the financing were not released. Designed by Oppenheim Architecture, Ziggurat will comprise two buildings featuring natural stone exteriors with gardens wrapping every level. The project will be situated on a 1.7-acre site at the intersection of Grand Avenue, Matilda Street and Florida Avenue. The property will include a five-story, 100,000-square-foot trophy office building with a rooftop restaurant and a three-story building that will comprise 18 for-sale luxury condominiums and 45,000 square feet of retail space on the ground level. The condominiums will range in size from 1,254 to more than 5,000 square feet. ONE Sotheby’s International Realty is handling sales, with prices ranging from $3.5 million to $15 million. Ryan Holtzman, Andrew Trench and Brian Gale with Cushman & Wakefield will manage office leasing alongside Thad Adams with Allen Morris Co. Daniel Cardenas and Michael Sullivan with Vertical Real Estate will lead the retail leasing efforts. Allen Morris …

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Avalon-San-Ramon-CA
AcquisitionsCaliforniaDevelopmentMultifamilyWestern

AvalonBay Communities to Develop 456-Unit Apartment Project in San Ramon, California

by Amy Works

SAN RAMON, CALIF. — AvalonBay Communities has closed on the purchase of a 5.7-acre site at 6200 Bollinger Road in San Ramon from Sunset Development Co. for an undisclosed price. Situated within the master-planned Bishop Ranch, the site will become Avalon San Ramon featuring two five- and seven-story residential buildings linked by a breezeway. The property will offer 456 apartments with spacious layouts, modern finishes and flexible spaces. Community amenities will include a fitness center, pool, work lounge, clubhouse, rooftop deck and a WAG Pet Spa. Construction is commencing this month, with completion slated for late 2027.

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Devon-Self-Storage-Camden-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

Inland, Devon Complete 1,070-Unit Self-Storage Project in Camden, New Jersey

by Taylor Williams

CAMDEN, N.J. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 1,070-unit self-storage project in the Southern New Jersey community of Camden. The site at 1501 Admiral Wilson Blvd. formerly housed a warehouse and distribution facility, and the new storage building features 110,000 net rentable square feet of climate-controlled space. The Camden project marks the 19th collaboration between the two groups.

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DevelopmentIllinoisIndustrialMidwest

Contegra Completes 611,000 SF Warehouse for McLeod Express in Decatur, Illinois

by Kristin Harlow

DECATUR, ILL. — Contegra Construction has completed a 611,000-square-foot warehouse for transportation company McLeod Express in the central Illinois city of Decatur. The project marks the second warehouse for the family-owned company, supplementing its existing warehouse operations from a 100,000-square-foot facility that McLeod has owned and operated since 2001. The new building is located about one mile from the I-72 exchange and three miles from the Midwest Inland Port. Situated on a 37-acre site at 3960 E. Mound Road, the project features a clear height of 36 feet, 56 dock doors, four drive-through doors and parking for 63 cars and 64 trucks. The building also houses a two-story, 6,000-square-foot office space. McLeod manages a fleet of more than 300 trucks and 900 trailers.

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CivicDevelopmentHealthcareKansasMidwest

Icon Structures Underway on Adaptive Reuse Project for Community Crisis Center in Wichita, Kansas

by Kristin Harlow

WICHITA, KAN. — General contractor Icon Structures is underway on an adaptive reuse project for Sedgwick County Government in Wichita. The project that will convert a 105-year-old building that formerly housed a car dealership into the new COMCARE Community Crisis Center (CCC). The development will expand access to mental health services and consolidate the county’s services into a single building adjacent to the new Wichita Biomedical Campus (WBC). Helix Architecture + Design is leading the transformation. Helix is also part of the architecture and interiors team, along with CO Architects, for the WBC, a joint initiative of the University of Kansas Medical Center, Wichita State University and WSU Tech to establish a regional health sciences educational hub. Once operational, the CCC will offer WBC students hands-on clinical mental health training and possible career internships. The building will transition COMCARE, a certified community behavioral health clinic, from a residential facility to a new level of care as a crisis intervention center (CIC), providing stabilization services to those with more serious mental health needs. The CIC will allow for a centralized 9-8-8 suicide and crisis lifeline call center operations and 24/7 access to medical providers. It will also accommodate mental health services …

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DevelopmentLoansMultifamilyNew YorkNortheastTop Stories

JLL Arranges $175M Construction Loan for Brooklyn Apartment Tower

by Kristin Harlow

NEW YORK CITY — JLL Capital Markets has arranged $175 million in construction financing for 155 Third Street, a 22-story, 300-unit apartment tower to be built along the Gowanus Canal in Brooklyn. JLL secured the loan on behalf of the borrower, locally based Monadnock Development. Situated at the confluence of the Carroll Gardens, Gowanus, Park Slope and downtown Brooklyn neighborhoods, 155 Third Street will encompass more than 250,000 net rentable square feet, including 225 market-rate apartments, 75 affordable housing units and more than 30,000 square feet of retail, artist and commercial space. The project is vested in the Affordable New York (421-a) tax abatement. Completion is slated for the fourth quarter of 2027. Amenities will include a pool and terrace, sky lounge, fitness and yoga studios, coworking spaces, a cocktail lounge with fireplace, movie and party rooms and multiple outdoor areas with views of New York Harbor and downtown Brooklyn. The development’s retail frontage along the Gowanus waterfront will tie directly into the planned 7-acre Gowanus Greenway Esplanade, which is part of the larger Brooklyn Waterfront Greenway, a protected route for pedestrians and cyclists connecting the neighborhoods, parks and open spaces of Brooklyn’s waterfront. Christopher Peck, Winfield Clifford, Kellogg Gaines …

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