NEW BRAUNFELS, TEXAS — Metro Denver-based investment firm Platte Canyon Capital (PCC) has acquired Northwood Apartments, a 252-unit multifamily complex located northeast of San Antonio in New Braunfels. Northwood Apartments was built in phases between 1998 and 2017 and offers one- and two-bedroom units. PCC plans to update and renovate amenity spaces, including the pool, fitness center, parking areas and clubhouse, as well as building exteriors. The property was 70 percent occupied at time of sale. The undisclosed seller was the property’s original developer.
BOSTON — A partnership between Harvard University and New York City-based real estate giant Tishman Speyer, as well as Tishman Speyer’s life sciences affiliate Breakthrough Properties, has completed Phase I of a mixed-use development in Boston’s Allston neighborhood. Known as the Enterprise Research Campus, the development’s initial phase spans 9 acres and features a 343-unit apartment community known as Verra, the 246-room Atlas Hotel, a two-building life sciences and lab complex, a conference center, 40,000 square feet of street-level retail and restaurants and 2 acres of open green space. The Enterprise Research Campus was first announced in summer 2023 and funded by $750 million in construction financing provided by a syndicate of lenders led by New York City-based Otera Capital.
FRANKLIN, TENN. — CBL Properties, a publicly traded mall REIT based in Chattanooga, Tenn., has sold a 5.4-acre parcel at CoolSprings Galleria, a nearly 1.2 million-square-foot regional shopping mall in metro Nashville. The buyer, Charleston-based Greystar, plans to develop a Class A, 351-unit apartment community with 15,000 square feet of ground-floor retail space on the site, which was previously an underutilized parking lot. Greystar plans to break ground immediately and deliver the community in approximately two years. Built in 1991, CoolSprings Galleria is located at 1800 Galleria Blvd. in Franklin, about 15 miles south of downtown Nashville. According to CBL, the mall has 150 total stores, including department stores Belk, Dillard’s, JCPenney, Macy’s and Primark. Other stores include Apple, Barnes & Noble, Chili’s, Duluth Trading Co., H&M, Hot Topic, LEGO, L.L. Bean (soon to open), Spencer’s, Taco Bell, Target and Urban Air Adventure Park.
PLAINFIELD, N.J. — Local developer LANDMARK is nearing completion of CENTURION Sleepy Hollow, a 100-unit multifamily project located in the Northern New Jersey community of Plainfield. Designed by Rotwein + Blake with interiors by Mary Cook Associates, CENTURION Sleepy Hollow offers one- and two-bedroom units, as well as retail space. Amenities include a fitness center, resident lounge, coworking space and a rooftop terrace. The first move-ins began late last summer.
HDA, ISC Contracting Complete Renovation of St. Louis Jewish Community Center’s Marilyn Fox Building
CHESTERFIELD, MO. — Architect HDA and ISC Contracting have completed a comprehensive renovation of the St. Louis Jewish Community Center’s Marilyn Fox Building in Chesterfield. The 87,930-square-foot renovation project reimagined the longstanding community hub with expanded amenities, modernized spaces and enhanced accessibility. Originally constructed in 1996 with a minor renovation in 2008, the Marilyn Fox Building has long served as a place for community recreation in West St. Louis County. HDA partnered with the St. Louis Jewish Community Center to breathe new life into the facility. The project included the addition of a new Adult Day Center with capacity for 36 participants as well as new locker rooms, a redesigned lobby and gathering space and upgraded infrastructure systems. Additional improvements included renovations to the gymnasium, fitness center and Early Childhood Center along with expanded kitchen facilities, dedicated pickleball courts, upgraded security and communications systems and exterior enhancements. Construction began in April 2024. The facility remained operational throughout the construction process. ODA Studio served as the interior designer.
NEW YORK CITY — Charney Cos., Tavros and Incoco Capital have received $785 million in construction financing for the development of 175 Third Street, the fifth building at the $1 billion Gowanus Wharf campus in Brooklyn. Apollo and Affinius Capital are providing $600 million in debt, and RXR is providing $185 million in equity. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL secured the financing on behalf of the borrowers. Upon completion, 175 Third Street will mark the largest building at the development, which is situated within the Gowanus area of Brooklyn. Charney and Tavros purchased the site in May for $160 million. The residential building will total roughly 1.1 million square feet across 27 stories and will house approximately 1,100 units. Of the residences, 25 percent will be designated as permanently affordable housing. Bjarke Ingels Group designed the property, which will also feature a 28,000-square-foot public waterfront esplanade in collaboration with the New York City Department of Parks & Recreation. Additionally, Life Time has signed an 85,000-square-foot lease at the building for a three-story fitness club and spa. “Securing this financing with Apollo, Affinius and RXR validates both the strength of 175 Third Street and our long-term commitment to this …
FORT WORTH, TEXAS — Hillwood has broken ground on a 1.2 million-square-foot speculative industrial project within the local developer’s AllianceTexas master-planned community in North Fort Worth. Alliance Westport 16 will feature 40-foot clear heights and 276 trailer parking spaces (expandable to 504 total onsite spaces), and the site can also potentially support a tri-load configuration and 190-foot truck court depths. GSR Andrade is the project architect, and Westwood is the civil engineer. Fifth Third Bank is financing construction, which is slated for a summer 2027 completion.
STERLING HEIGHTS, MICH. — Gov. Gretchen Whitmer and the Michigan Strategic Fund Board have approved a $270.7 million Transformational Brownfield Plan (TBP) to support the redevelopment of the former Lakeside Mall site in Sterling Heights. The proposed plan includes roughly 1,545 residential units across nine multifamily buildings ranging in size from four to five stories, including a building targeted at residents over 55 years of age. Additionally, the project will add 154,007 square feet of new retail space, a central community park and green space and a mix of parking lots and street parking for residents and visitors. When complete, the project is estimated to result in $621 million in total capital investment. Aside from participating in tax revenue capture to support the redevelopment plan, the City of Sterling Heights intends to proceed with a bond issuance of approximately $27.6 million to assist in the cost of the infrastructure. The total TBP incentive package will be reimbursed over 30 years. The developer, Lakeside OOTB Ventures LLC, is a subsidiary of Lionheart Capital. Lakeside Mall closed in July 2024.
ELLABELL, GA. — Scannell Properties has plans to develop Ridgeway Logistics Park, a 335-acre industrial campus situated directly across from the Hyundai Motor Group Metaplant in Ellabell, a western suburb of Savannah in Bryan County. Situated adjacent to the new I-16 interchange and near the Port of Savannah, the industrial park can accommodate up to 4 million square feet of space at full build-out. Phase I of Ridgeway Logistics Park will comprise a 1.1 million-square-foot speculative facility featuring 40-foot clear heights, four drive-in doors, 234 dock positions, 45 dock packages and parking for 338 trailers and 350 cars. Scannell will begin site work this summer. Bill Sparks and Preston Andrews of CBRE are handling the park’s leasing assignment.
MOORESVILLE, N.C. — Lowes Foods plans to anchor Cadia Village Mooresville, a mixed-use development underway in suburban Charlotte. The Winston-Salem-based grocer will open a 52,000-square-foot store that features various departments, including a craft brewery (The Beer Den), coffee shop (Boxcar Coffee) and bakery (The Cakery). The developer, Pappas Properties, plans to break ground on the new Lowes Foods store in the third quarter, aiming for delivery in 2027. Situated near Lake Norman, Cadia Village Mooresville will feature a retail center, offices, a community village green space, for-sale homes, active adult apartments and cottage townhomes. Pappas Properties broke ground on Phase I of the mixed-use project last November.