STATESBORO, GA. — Rael Development Corp. has broken ground on Charme on Georgia Ave., a 694-bed student housing project located near the Georgia Southern University campus in Statesboro. The mid-rise development will offer 291 units in studio, one-, two- and four-bedroom configurations. Shared amenities will include a rooftop, resort-style swimming pool, fitness center, café, study/library space, billiards and gaming areas. The community is scheduled for completion in fall 2025.
JACKSONVILLE, FLA. — Miller Construction Co. has completed a 302,823-square-foot warehouse located at 2992 Pickettville Road in west Jacksonville. Lincoln Property Co. is the developer of the rear-load facility, which features 58 dock doors, two drive-in ramp doors, 36-foot clear heights and 54- by 48-foot column spacing. The property is situated near I-295 and I-10 and is divisible for up to four tenants. The project team includes architect IBI Group, MEP engineer Puga & Associates Inc., structural engineer DDA Engineers and civil engineer Adkinson Engineering.
ATLANTA — Woda Coooper Cos. Inc. and Parallel Housing Inc. have delivered Stanton Park Apartments, a 56-unit affordable housing community in Atlanta. The property is located at 1056 Hank Aaron Drive in the city’s Peoplestown neighborhood, which is situated near the Atlanta BeltLine’s Southside Trail. Stanton Park features 36 one-bedroom apartments and 20 two-bedroom units that are reserved for households earning 30 to 80 percent of the area median income (AMI). Ten units are reserved with project-based vouchers for residents who experienced homelessness. Financing included a $1 million loan from Invest Atlanta, the City of Atlanta’s economic development authority; a $6.5 million tax-exempt bond from the Urban Residential Finance Authority; capital investments from Atlanta BeltLine Inc.; LIHTC equity from Walker & Dunlop ($5.2 million) and Sugar Creek Capital ($3.5 million); a construction loan from Summit Community Bank; and a $400,000 grant from Partners for Home, an entity comprising Atlanta-based organizations that address homelessness in the city. Stanton Park’s amenities include a multipurpose room with kitchenette, central laundry, computer room, fitness facility, indoor bike storage and a picnic area with tables and grills. The project team includes architect Hooker DeJong, civil engineer Long Engineering, general contractor Woda Construction Inc. and property manager …
STAFFORD, TEXAS — A partnership between locally based developer Lovett Industrial and Los Angeles-based PCCP LLC has broken ground on Stafford Logistics Park, a 785,000-square-foot speculative industrial project that will be located on the southwestern outskirts of Houston. The development will consist of a 520,000-square-foot, cross-dock warehouse and a 265,000-square-foot, front-load warehouse. Building features will include 36- and 32-foot clear heights, respectively, as well as parking for 190 trailers and 380 cars. JLL will market the development for lease.
ROSEVILLE, CALIF. — USA Properties Fund has started construction on Terracina at Westpark, an affordable multifamily community in Roseville, a suburb northeast of Sacramento. Located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive, Terracina at Westpark will offer 284 one-, two- and three-bedroom apartments; a community room; courtyard area with play equipment; computer workstations; and almost 500 parking spaces. The community will feature 71 three-bedroom units, 97 one-bedroom units and 116 two-bedroom units. Terracina at Westpark’s apartments will be available to residents earning 30 to 70 percent of the area median income for Placer County, about $25,740 for a two-person household to $81,060 per year for a five-person household. WNC & Associates is the tax credit investor for the $119.2 million project. JPMorgan Chase & Co. is the construction and permanent lender on the project.
NEW YORK CITY — Douglaston Development has topped out a $320 million multifamily project located at 1057 Atlantic Ave. in the Bedford-Stuyvesant neighborhood Brooklyn. The 17-story building will ultimately house 456 apartments, 137 of which will be reserved as affordable housing. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a fitness center, lounge, golf simulator, game room, screening room, children’s playroom and a landscaped rooftop deck, as well as 31,000 square feet of ground-floor retail space. Greystone Capital Advisors arranged financing for the project, which included $185 million in construction financing from Wells Fargo Bank, M&T Bank and BankUnited. Funds managed by Ares Real Estate also have a preferred equity investment project in the development, which is slated for completion in late 2025.
OLATHE, KAN. — Hunt Midwest and Principal Senior Living have completed 21 new memory care residences at Benton House of Olathe in Kansas. The expansion project more than doubles the number of memory care apartments available in the community’s Beacon Neighborhood, an exclusive neighborhood within the Benton House community dedicated to seniors experiencing memory loss. The first residents are scheduled to move in to the new apartments in March. Benton House of Olathe now offers 76 total residences, including 35 memory care apartments and 41 studio and one-bedroom assisted living suites. The property features a variety of indoor and outdoor amenity spaces around three landscaped courtyards. The project team included Lamas Architects, Schlagel and Associates and Meyer Brothers Building Co. Hunt Midwest and Principal currently own and operate a portfolio of six assisted living and memory care communities in metro Kansas City.
OMAHA, NEB. — Developer Sullivan Development Co. has broken ground on Leavenworth Lofts, a 28-unit apartment building in Omaha. The project site at 3612 Leavenworth St. is within walking distance of the University of Nebraska Medical Center. Completion is slated for spring 2025. Leavenworth Lofts will feature one-bedroom units averaging 1,000 square feet. Penthouse units on the fifth floor will feature secured access and private rooftop terraces. Unique to the property is a short-term rental option for units on the lower level as well as a gallery in the lobby that will spotlight rotating exhibits by local artists. Residents will have access to concierge housekeeping services as well as a controlled-entrance garage. BVH Architecture and Ronco Construction make up the project team.
NEW YORK CITY — A joint venture between Douglaston Development and the Entertainment Community Fund has received construction financing for Rialto West, a $125 million affordable housing development in Manhattan’s Hell’s Kitchen neighborhood. Located at 509 W. 48th St., the eight-story building will include 158 units for low- and moderate-income residents. Rialto West will feature a mix of studio, one-, two- and three-bedroom units that will be designated for households earning up to 140 percent of the area median income. Fifteen percent of the units will be dedicated to serving formerly homeless households. Shared amenity spaces will include a fitness center, laundry room and bicycle storage area. Additionally, the development’s ground floor will include more than 5,500 square feet of cultural space as well as a public restroom facing an approximately 25,000-square-foot public plaza that will be built at 705 Tenth Ave. The NYC Department of Parks and Recreation will operate the public open space, which is to be named after Lorraine Hansberry, the famed playwright and author of “A Raisin in the Sun.” The developers are in discussions with IndieSpace, a provider of affordable workspaces for artists, to lease and operate rehearsal and coworking spaces at the property. The …
HOUSTON — New York-based global investment firm GTIS Partners has begun construction on Port 225 Commerce Center, a 484,000-square-foot industrial project located near Port Houston in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled for a fall completion. Other project partners include Angler Construction, Powers Brown Architecture, Langan Engineering and Cushman & Wakefield as the leasing agent.
