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DevelopmentMultifamilyNorth CarolinaSoutheast

Woodfield, American Asset Corp. to Open 264-Unit Apartment Community in Raleigh

by John Nelson

RALEIGH, N.C. — A joint venture between Woodfield Development and American Asset Corp. plans to soon open The Keaton at Brier Creek, a 264-unit apartment community located at 3920 Macaw St. in Raleigh. The property will serve as the multifamily component of Brier Creek Town Center, which features an 800,000-square-foot shopping center called Brier Creek Commons Shopping Center. Woodfield and American Asset Corp. have begun leasing The Keaton, which will include studio, one-, two- and three-bedroom apartments commanding monthly rental rates starting at $1,414, according to the property website. Shelton Taylor + Associates designed the unit interiors. Amenities will include an 8,000-square-foot clubhouse, resort-style pool, fitness center, rooftop sky lounge, courtyards, dog park and spa, car wash station and detached garages. Move-ins are slated to begin later this month.

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DevelopmentGeorgiaLeasing ActivityOfficeSoutheast

Swinerton Debuts New Office at Armour Yards in Atlanta

by John Nelson

ATLANTA — Swinerton, a general contractor firm based in San Francisco, has opened its new office space at 251 Armour Drive in Atlanta. The 10,000-square-foot office is part of the Armour Yards adaptive reuse development and will house 70 Swinerton employees. JLL arranged the lease on behalf of the Armour Yards landlord, Northwoods Office. Designed by MurphyMeyers, the new space includes 22 private offices, 30 workstations, two flex rooms, two meeting rooms and a “preconstruction room.” Amenities include a fitness studio, wellness room and a working lounge with overhead doors, as well as direct access to the Atlanta BeltLine. The space also includes a mural, custom art pieces and the integration of mass timber into the overall aesthetic. Founded in 1888, Swinerton is 100 percent employee-owned and has 21 offices nationwide. Swinerton first opened its Atlanta office in 2017.

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1720-Eastchester-Road-Bronx
DevelopmentIndustrialNew YorkNortheast

Simone Development Nears Completion of 186,298 SF Industrial Conversion Project in The Bronx

by Taylor Williams

NEW YORK CITY — New York City-based Simone Development Cos. is nearing completion of a 186,298-square-foot industrial conversion project in the Morris Park area of The Bronx. The site at 1720 Eastchester Road previously housed a 63,000-square-foot Stop & Shop grocery store, liquor store and a Subway restaurant and is adjacent to Hutchinson Metro Center, Simone’s 1.4 million-square-foot mixed-use development. The new building will feature 63,000 square feet of indoor warehouse space with a clear height of 18 feet, as well as 62,000 square feet of rooftop parking and 65,000 square feet of outdoor parking space. Full completion is scheduled for this summer. Cushman & Wakefield is marketing the property for lease.

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DevelopmentMultifamilyNew YorkNortheastTop Stories

AMS to Develop $458M Teutonia Hall Luxury Apartment Project in Yonkers, New York

by Kristin Harlow

YONKERS, N.Y. — The Yonkers Industrial Development Agency (YIDA) has granted final approval of financial incentives for Teutonia Hall, a $458 million luxury apartment project comprising two 41-story towers. AMS Acquisitions is the developer. Located in Yonkers, a northern suburb of New York City, the two-phase development will feature a total of 906 apartment units, 91 of which will be affordable. Plans also call for 2,900 square feet of street-level commercial space and 907 parking spaces. The lower six stories of the buildings will comprise a podium, which will serve as a parking facility for residents. Construction for Phase I is expected to begin in September, with completion slated for December 2027. Phase II construction is anticipated to begin in December 2028, with completion slated for December 2031. The developer received approval for $12.9 million in sales tax exemptions and $4.5 million in mortgage recording tax exemptions. The two phases of the project are estimated to create 1,100 construction jobs. According to a cost-benefit analysis, the project will create $2.35 for every $1 of incentives. The developer is also requesting a 20-year Payment in Lieu of Taxes agreement. YIDA also voted preliminary approval of financial incentives for Champlain Hudson Power …

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Chick-fil-A, Five Guys, Chase Bank to Open at $500M Halcyon Development in Metro Atlanta

by John Nelson

ALPHARETTA, GA. — Chick-fil-A will open a 5,300-square-foot restaurant this spring at Halcyon, a $500 million mixed-use development located in Alpharetta, a northern suburb of Atlanta. Currently under construction, the building will be situated within Halcyon’s Phase III. RocaPoint Partners is the developer and landlord of the project, and JLL manages retail leasing at the property. Five Guys and Chase Bank have also signed leases at the development and will occupy 2,400 and 3,500 square feet, respectively, within a 13,000-square-foot building adjacent to Chick-fil-A. Phase III of Halcyon will also feature a grocery anchor, to be announced later this year.

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Schertz35-Business-Park
DevelopmentIndustrialTexas

Titan Development Breaks Ground on 196,519 SF Industrial Project in Schertz, Texas

by Taylor Williams

SCHERTZ, TEXAS — Regional firm Titan Development has broken ground on Building 1 of Schertz35 Business Park, an industrial project that will add 196,519 square feet of space to the northeastern San Antonio suburb’s supply. The site spans 11 acres, and the building will feature 32-foot clear heights, two drive-in ramps, 43 docks, an ESFR sprinkler system and parking for 136 cars and 50 trailers. Construction is slated for a fourth-quarter completion.

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Kelvin-Lemon-Grove-CA
CaliforniaDevelopmentMixed-UseMultifamilyWestern

LLJ Ventures, Citymark Development to Open Kelvin Mixed-Use Community in Lemon Grove, California

by Amy Works

LEMON GROVE, CALIF. — LLJ Ventures and Citymark Development are nearing completion of Kelvin, a mixed-use community at 7950 Broadway in Lemon Grove in San Diego County. Slated for completion in early March, Kelvin features 66 studio, one-, and two-bedroom apartments ranging from 523 square feet to 1,058 square feet. The five-story building offers 4,043 square feet of first-level commercial space on a 0.92-acre lot near local dining, shopping and entertainment options. Additionally, Kelvin is near Freeway 94, Freeway 125 and the Lemon Grove Trolley Station. Pre-leasing is underway at Kelvin, which San Diego-based Sunrise Management is handling. Move-ins are scheduled the begin mid-March. Studio E Architects served as architect for the project, which is situated on the site of a former Barry’s Athletic Supply store, which operated on the site for 25 years until it relocated to another Lemon Grove location.

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Xfinity-Live-Philadelphia
DevelopmentNortheastPennsylvaniaRetail

Comcast Spectacor, Cordish to Undertake $12M Renovation of Philadelphia Sports Complex

by Taylor Williams

PHILADELPHIA — Philadelphia-based Comcast Spectacor, in partnership with Cordish Cos., a Baltimore-based developer specializing in sports-anchored entertainment districts, will undertake a $12 million renovation of the Xfinity Live! sports complex in South Philadelphia. The project will deliver a variety of upgrades to the development’s main public plaza, including the addition of several new terraces and gathering spaces. Comcast Spectacor and Cordish will also make various improvements to interior spaces and building exteriors. Construction will be carried out in phases, will full completion slated for late 2025 or early 2026.

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DevelopmentLeasing ActivityMidwestOfficeTop StoriesWisconsin

Fiserv Opens 170,000 SF Global Headquarters in Downtown Milwaukee

by John Nelson

MILWAUKEE — Fiserv Inc. (NYSE: FI), a global payment and financial tech solutions firm, has unveiled its new corporate headquarters in downtown Milwaukee. The 170,000-square-foot office space serves as the new global base for the company, which is relocating from nearby Brookfield, Wis., about 13 miles west of Milwaukee. The new Fiserv offices are part of HUB640, a mixed-use campus that also includes a small-format Kohl’s department store that opened in November. Other tenants include Eight Eleven Group, Abacus Architects and North Shore Healthcare, according to Founders 3 Real Estate Services, which is handling office leasing at HUB640. Chicago-based North Wells Capital LLC owns and operates HUB640. As part of the move, Fiserv was awarded $7 million in TIF (tax increment financing) funding from the City of Milwaukee, under the condition that the company retain 93 percent of its employee base at its new office space. “City of Milwaukee elected officials unanimously chose to partner with Fiserv on this project, and we are confident the decision will be applauded for many years to come,” says Milwaukee Mayor Cavalier Johnson. The new office building is located at 600 Vel R. Phillips Ave., a site that formerly housed the Boston Store, a local …

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Village-Green-at-Bridgeland-Central-Houston
DevelopmentRestaurantRetailTexas

Howard Hughes Underway on 70-Acre Retail Development in Northwest Houston

by Taylor Williams

HOUSTON — Howard Hughes Holdings (NYSE: HHH) is underway on construction of Village Green at Bridgeland Central, a 70-acre retail development in northwest Houston. Located within the 925-acre Bridgeland master-planned community, Village Green will comprise a 100,000-square-foot H-E-B grocery store and 28,000 square feet of inline retail and restaurant space. The development will also feature multiple outdoor dining spaces and connectivity to Bridgeland’s network of walking trails. H-E-B is scheduled to open by the end of the year, and the inline space is slated for a spring 2025 delivery. Tal McIver of McIver Properties represented H-E-B in the lease negotiations, and Eric Walker of Capital Retail Properties represented Howard Hughes.

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