LUBBOCK, TEXAS — LEDG Capital, an owner-operator of affordable and workforce housing properties, has completed the $12 million renovation of Southstead, a 244-unit mixed-income community in Lubbock. Built in phases in the 1970s, Southstead comprises 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the 244 units, 100 are rented at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital’s rehabilitation delivered new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months and extends Southstead’s affordability for another 30 years.
IRVING, TEXAS — A joint venture between Reserve Street Property Co. and BC2 Capital is underway on construction of a 58,280-square-foot industrial project in Irving. The 4.5-acre site at 1900 Hurd Drive is proximate to Dallas-Fort Worth International Airport. The new building will feature 28-foot clear heights and a one-acre outdoor laydown yard. Riley Maxwell and John Brewer of Transwestern represented the joint venture in its purchase of the land. JLL represented the seller, Hollman Inc. GSR Andrade is the project architect, and Bratjen Construction is the general contractor. Completion is slated for mid-2025.
CHINO, CALIF. — C.W. Driver Cos. has completed the construction of Legacy Academy, a K-8 school at The Preserve at Chino, a 38-acre master-planned community in Chino. The $51 million public school will serve more than 1,250 students in the Chino Valley Unified School District (Chino Valley USD). Legacy Academy’s 73,000-square-foot campus consists of six one-story buildings housing classrooms, science and STEM labs, physical education facilities, administration, a library, kitchen, multipurpose room, a dedicated TK/kindergarten and an outdoor amphitheater. Additionally, C.W. Driver Cos. provided construction of the school’s new parking lots, playfields, hardcourts, fencing and gates. PBK Architect provided architectural services for the project.
BURBANK, CALIF. — Downtown Burbank has completed the second phase of First Street Village, a three-phase mixed-use apartment community at the intersection of First Street and Magnolia Boulevard in downtown Burbank. Situated on more than 3 acres, the second phase includes 275 apartments and 18,000 square feet of ground-floor retail space. High Impact Pilates has signed a lease to occupy a portion of the new retail space. First Street Village offers micro units, one-, two- and three-bedroom apartments, a sky deck with WiFi, fitness center, social workspaces, barbecues, fire pits and pools. The first phase of the community is 95 percent occupied and retail tenants include Flow Wine Bar, Hardcore Fitness and Hollywood Pet Grooming Pet Store. The residential component includes 24 affordable housing units. Developed by Tim Behunin, First Street Village is the largest mixed-use development in downtown Burbank since 2005. Christopher Baer of Avison Young is handling leasing for First Street Village’s retail component. Downtown Burbank Partnership, a California nonprofit mutual benefit corporation, manages the Downtown Burbank District.
WEST LAFAYETTE, IND. — LV Collective has unveiled plans to build Rambler Levee District, a two-building apartment development totaling 583 units in the Levee District of West Lafayette near Purdue University. LV is partnering with Harrison Street and obtained financing from Pacific Life for the project. Amenities will include coworking spaces, a clubroom, multiple pools, internal courtyards, fitness facilities, a yoga studio, resident lounge and saunas. The 799,289-square-foot project will be centered around a 20,000-square-foot public plaza and green space. Plans also call for 15,600 square feet of retail space. Site work will begin this quarter, with completion slated for fall 2027. Project partners include development group Landmark Properties Inc., architect WDG, general contractor Brinkmann Constructors, interior designer Variant Collaborative and DLA Piper for legal counsel. TSB Capital Advisors consulted on construction financing.
TROY, MICH. — A partnership between Douglas Capital Partners, Cypress Partners and Village Green is set to open Forum Flats in Troy on Thursday, Nov. 14. The luxury apartment complex consists of three buildings with 200 units. Amenities include a clubroom, pool, fitness center, pet spa and dog park. The first of the three buildings took over the former 100,000-square-foot office space previously utilized by Kelly Services and now features 90 units. The other two buildings were constructed from the ground up and each total 55 units. Monthly rents start at $1,675 for studios.
FARGO, N.D. — Kraus-Anderson has begun a $6.5 million renovation and expansion of the Challey School of Music at North Dakota State University in Fargo. Designed by Foss Architecture & Interiors, the project features a 9,700-square-foot addition to the existing building with a 1,000-square-foot rehearsal space, teaching studios and a recording facility. The expansion also includes practice rooms, offices, extra storage and locker facilities. Completion is slated for summer 2025.
WILLIAMSBURG, VA. — Breeden Construction has delivered Governor’s Inn, a 164-unit apartment community located in Williamsburg. An entity doing business as CDG Holdings LLC is the developer behind the $33.5 million project. Governor’s Inn comprises six two- to four-story residential buildings, as well as community amenities including a swimming pool, fitness center, outdoor grilling station and a community clubhouse.
BOYNTON BEACH, FLA. — Whole Foods Market plans to open a 42,024-square-foot grocery store located at 7395 Boynton Beach Blvd. in Boynton Beach. Set to open on Dec. 10, the new store will serve as the anchor of Boynton Beach Marketplace, a 69,204-square-foot shopping center that Atlanta-based SJC Ventures is developing in South Florida’s Palm Beach County. The new Whole Foods’ product assortment will feature more than 1,500 local items from Florida, including beer, wine, meats, seafood, cheeses, baked goods and health and wellness merchandise. Founded in 1980, Austin-based Whole Foods operates more than 530 stores across the United States, Canada and the UK.
JERSEY CITY, N.J. — Beverly Hills, Calif.-based Kennedy Wilson has provided a $175 million senior construction loan for the development of Artwalk Towers, a 49-story apartment high-rise project in Jersey City. Locally based KRE Group is the developer behind the new multifamily tower, which will comprise 595 units in the city’s Journal Square neighborhood. KRE Group, which has developed more than 1,800 apartments in Journal Square across multiple projects, expects to complete Artwalk Towers by fourth-quarter 2027. Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin and Eli Zaoutis of BlueGate Partners arranged the construction loan and represented the private family that sold the land. Upon completion, Artwalk Towers will feature a street connector to a PATH train station, resort-style pool, barbecue area, gym, coworking spaces and a sky lounge with views of the New York City skyline. “We are excited to close on our first loan with [KRE Group], which has a proven track record of delivering top-tier projects that meet the needs of the area’s residents,” says Thomas Whitesell, head of Kennedy Wilson’s debt investment group. “The Artwalk Towers loan aligns with our strategy to support transformative multifamily developments in urban areas.” Whitesell says that the firm’s debt investment group …