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Centro35-San-Marcos
Affordable HousingDevelopmentMultifamilyTexas

NRP Group Delivers 330-Unit Affordable Housing Community in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Cleveland-based multifamily developer The NRP Group has delivered Centro35, a 330-unit affordable housing community in San Marcos, located roughly midway between Austin and San Antonio. Centro35 offers one-, two-, three- and four-bedroom units that are reserved for households earning 60 percent or less of the area median income. The amenity package comprises a pool, fitness center, conference center with individual work pods, children’s activity room and a game room. NRP Group developed the property in partnership with Capital Area Housing Finance Corp.

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DevelopmentMidwestMissouriRetail

Cordish Cos. Unveils Plans for $10M Renovation of Kansas City Live! Entertainment Destination

by Kristin Harlow

KANSAS CITY, MO. — The Cordish Companies has unveiled plans for a $10 million upgrade to Kansas City Live! in the city’s Power & Light District. The project will include updates to existing spaces and the introduction of a new concept to the entertainment destination. The Kansas City Live! Block will feature a new exterior canopy, ceiling heaters and misters to make the open-air venue welcoming during all seasons. New high-definition ribbon boards and enhanced theatrical lighting will enhance shows and events. Expanded group seating areas, fresh landscaping and additional bar access will enhance the atmosphere. Additionally, Pizza Bar will receive a patio refresh with new outdoor seating, upgraded finishes and bar. Opening in spring 2025, Besos y Abrazos is a Latin-inspired dining venue with DJs. The cuisine draws inspiration from traditional street foods across Latin America, and guests can enjoy crafted margaritas and sangria. Nightclub Mosaic will receive a $2.5 million upgrade and expansion, nearly doubling in size. Standout features will include a state-of-the-art audio system, lighting and DJ booth backed by a new high-resolution LED wall. There will also be a new luxury lounge with expansive bar and additional VIP seating, and a refreshed patio. Construction is scheduled …

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DevelopmentIndustrialMidwestOhio

Peak Construction to Build 747,000 SF Warehouse for HC Cos. in Middlefield, Ohio

by Kristin Harlow

MIDDLEFIELD, OHIO — Peak Construction Corp. will serve as the design-build contractor for a new 747,000-square-foot warehouse and distribution facility for The HC Companies in Middlefield, an eastern suburb of Cleveland. Scannell Properties is the developer. The project is being constructed adjacent to HC’s existing Ohio manufacturing facility. Site preparation is underway, with completion of the development slated for the third quarter of 2025. The project team includes Harris Architects, Weber Engineer Services and SMBH Structural Engineering. Headquartered in Twinsburg, Ohio, HC works in the horticultural industry and manufactures products for greenhouse, nursery, retail and commercial markets.

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75-Canal-St.-Manchester-New-Hampshire
DevelopmentMultifamilyNew HampshireNortheast

Jones Street Completes 250-Unit Multifamily Project in Manchester, New Hampshire

by Taylor Williams

MANCHESTER, N.H. — Private equity real estate firm Jones Street Investment Partners has completed a 250-unit multifamily project in Manchester, located near the New Hampshire-Massachusetts border. Located at 75 Canal St. in the downtown area, the property houses studio, one-, two- and three-bedroom units and 2,000 square feet of retail space. Amenities include a fireside lounge, rooftop terrace, work pods, social lounge and TV parlor, game room, fitness center, outdoor courtyards and a pet spa. Construction began in late 2022. Rents start at approximately $1,800 per month for a studio apartment.

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Data CentersDevelopmentMidwestOhioTop Stories

Cologix Acquires 154 Acres in Central Ohio, Plans $7B Data Center Campus

by John Nelson

JOHNSTOWN, OHIO — Cologix Inc., a hyperscale data center owner and operator, has purchased 154 acres in Johnstown, a Central Ohio city located about 25 miles northeast of Columbus. The Denver-based company plans to invest $7 billion for the development of a data center campus at the site. Upon completion, Cologix plans to have eight data centers that are “AI-ready” and have the capacity for 800 megawatts (MW) of scalable power. The firm plans to begin construction on the first phase in 2025, with the campus ultimately spanning 2 million square feet of data center space. The new campus will support the region’s advancing digital economy and provide “high-density, ultra-low latency and sustainable infrastructure” for hyperscale clients and enterprises that will tenant these new data centers. Cologix currently operates four data centers in Columbus with a combined footprint of 500,000 square feet and 80MW of power. The company delivered its fourth Columbus data center, a 256,000-square-foot facility dubbed COL4, this past summer. “As the largest provider of colocation and interconnection solutions in Columbus, we are thrilled to deepen our investment in Central Ohio,” says Laura Ortman, CEO of Cologix. “This new campus is more than an expansion — it’s a …

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Village-at-Gateway-Forney
DevelopmentMixed-UseTexas

StreetLevel Investments Breaks Ground on 120-Acre Mixed-Use Project in Forney, Texas

by Taylor Williams

FORNEY, TEXAS — Texas-based developer StreetLevel Investments has broken ground on Village at Gateway, a 120-acre mixed-use development in Forney, an eastern suburb of Dallas. The site is located at North Gateway Boulevard and U.S. Highway 80 within the 2,000-acre Gateway master-planned development. Phase I of the project will feature 500,000 square feet of retail space that will be anchored by Target (144,000 square feet), Home Depot (135,000 square feet) and grocer H-E-B (131,000 square feet). Dallas-based GFF is the project architect, and Ridgemont Commercial Construction is serving as the general contractor. Phase I is slated for a summer 2026 completion. Village at Gateway will also feature a multifamily component, although details on that element of the project are not yet available.

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Realterm-NIT-Industrial-El-Paso
DevelopmentIndustrialTexas

Realterm, NIT Industrial to Develop 452,966 SF Industrial Project in El Paso

by Taylor Williams

EL PASO, TEXAS — A partnership between Maryland-based investment firm Realterm and Houston-based NIT Industrial will develop a 452,966-square-foot industrial project in El Paso. The development will comprise a 125,843-square-foot rear-load building with 32-foot clear heights and a 327,123-square-foot cross-dock building with 36-foot clear heights. The buildings, which will be situated on a 31.2-acre site, will be able to support a single or multiple users and will also offer a combined 134 docking doors and 165 trailer parking stalls. Construction is expected to last about a year.

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AcquisitionsData CentersDevelopmentIndustrialSoutheastVirginia

PRP Sells Northern Virginia Data Center Campus to Iron Mountain for $113.5M

by John Nelson

MANASSAS, VA. — PRP has sold Manassas Point, a 40-acre data center development site in Northern Virginia’s Prince William County. Data center developer Iron Mountain Inc. purchased the site, which was assembled by PRP between 2022 and 2023 and zoned for heavy industrial, for $113.5 million. Plans at Manassas Point call for a 1.1 million-square-foot data center campus with a 300-megawatt substation. PRP had previously gotten county approval for a three-story design for the data center property and worked with NOVEC (Northern Virginia Electric Cooperative) and Dominion Power on the utilities for the campus. Manassas Point is situated within close proximity to Iron Mountain’s existing data centers in Prince William County.

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Affordable HousingDevelopmentFloridaMultifamilySoutheast

HTG Breaks Ground on $25.7M Affordable Housing Community in Holly Hill, Florida

by John Nelson

HOLLY HILL, FLA. — Housing Trust Group (HTG) has broken ground on Fox Pointe, a $25.7 million affordable housing community in Holly Hill, a coastal suburb of Daytona Beach. HTG is partnering with HfH Supportive Housing on the development, which will feature 35 units reserved for housing-insecure individuals and 35 units reserved as affordable and workforce housing. A partments at Fox Pointe will be reserved for residents who earn at or below 22, 30, 60 and 80 percent of the area median income (AMI), with monthly rents ranging from $319 to $1,610. The property will comprise one-, two- and three-bedroom apartments ranging in size from 600 to 975 square feet. Amenities will include a resort-style swimming pool, clubhouse with a lounge area, business center, picnic pavilion, dog park, playground, fitness center and onsite resident services. HTG expects to complete Fox Pointe by fourth-quarter 2025, with leasing to begin next fall. Members of the design-build team include Park and Eleazer Construction, FK Architecture, civil engineer Mark Dowst & Associates Inc., interior designer Builders Design and landscape architect Culliver Design Inc. Funding sources include Low-Income Housing Tax Credits (LIHTC) from Florida Housing Finance Corp. that was syndicated through Raymond James Equity Investor; …

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DevelopmentLoansMidwestMinnesotaMultifamily

Northmarq Arranges $28.6M Construction Loan for Olivine Apartments in Victoria, Minnesota

by Kristin Harlow

VICTORIA, MINN. — Northmarq has arranged a $28.6 million construction loan for Olivine Apartments in Victoria, a western suburb of Minneapolis. The 145-unit multifamily community at 2000 Steiger Lake Lane is slated to be built in 2025. Dan Trebil and Andy Finn of Northmarq arranged the financing on behalf of the borrower, Schafer Richardson and Marco McLane Development. Associated Bank provided the loan. The deal also features preferred equity, which Northmarq arranged through Minnesota-based Ackerberg Group.

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