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West-Side-Square-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Partnership Begins Leasing 477-Unit Apartment Community in Jersey City

by Taylor Williams

JERSEY CITY, N.J. —  A partnership between LanTree Developments, Altree Developments Inc., Lanterra Developments Inc. and Westdale Properties, has begun leasing West Side Square, a 477-unit apartment community in Jersey City. West Side Square houses 203 studios, 232 one-bedroom units, 29 two-bedroom apartments and 10 three-bedroom residences, as well as 9,841 square feet of retail space. Residences are furnished with vinyl plank flooring, quartz countertops, stainless steel appliances, modern cabinetry, subway tile backsplashes, in-unit washers and dryers and walk-in closets. Select units offer private terraces. Amenities include an outdoor deck with a pool and grilling stations, fitness center, coworking space, a community room and a dog run. Bravo Property Trust financed construction of the project, which began in late 2023.

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DevelopmentIndustrialTexasTop Stories

SpaceX to Build $16.8B, 100 MSF Semiconductor Manufacturing Plant in Grimes County, Texas, Create 3,000 Jobs

by Taylor Williams

GRIMES COUNTY, TEXAS — Space Exploration Technologies Corp. (SpaceX) will build a semiconductor manufacturing plant in Grimes County, located northwest of Houston. The first phase of the project represents a capital investment of $16.8 billion and is expected to create about 3,000 new jobs within the local economy. The office of Texas Gov. Greg Abbott made the announcement late last week, noting that the state had provided SpaceX with a $30 million Texas Enterprise Fund (TEF) grant in association with the project, which will be known as Terafab. The facility is planned to span more than 100 million square feet under a single roof, which would make it the largest structure in the world. A construction timeline was not announced. Founded in 2002 by Elon Musk, SpaceX already houses its global headquarters and Starbase launch facilities in South Texas’ Cameron County. The company also operates a semiconductor research-and-development (R&D) and advanced packaging facility in Bastrop, about 30 miles southeast of Austin, for its Starlink satellite platform. “The first-of-its-kind Terafab facility will accelerate chip production in Texas at an unprecedented scale, create thousands of good-paying jobs in Grimes County and expand economic opportunity for generations of Texans across southeast Texas and …

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DevelopmentMultifamilyStudent HousingTexas

Adolfson & Peterson Completes Renovation of Residence Hall at University of Texas San Antonio

by Taylor Williams

SAN ANTONIO — General contractor Adolfson & Peterson Construction (AP) has completed the renovation of Chisholm Hall, located on the University of Texas at San Antonio (UTSA) campus. The number of beds was not disclosed, but 267 rooms were impacted. The 120,860-square-foot residence hall features two fully furnished layout options, including double- and triple-occupancy rooms. Designed by Chesney Morales Architects, the renovation featured modernized building systems, upgraded resident bathroom vanity areas, newly installed acoustical ceilings and lighting and new mechanical unit ventilators and hallway ductwork.

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AcquisitionsAffordable HousingDevelopmentMultifamilyNew YorkNortheast

Tredway Buys Brooklyn Affordable Housing Property for $41.5M, Plans Renovations

by Taylor Williams

NEW YORRK CITY — Local owner-operator Tredway has purchased Restore Housing, a 138-unit affordable housing property in Brooklyn’s Bedford-Stuyvesant neighborhood, for $41.5 million with plans to implement renovations. Units at the property are reserved for households earning 60 percent or less of the area median income. Capital improvements, which will serve to preserve the property’s affordability status, will cover units’ kitchens, bathrooms, appliances and flooring, as well as the building’s common spaces. Merchants Capital provided financing for both the purchase and renovations.

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Ponte-Verde-at-Palm-Beach
AcquisitionsDevelopmentFloridaMultifamilySoutheast

IPA Brokers $90.5M Sale of West Palm Beach Condos, Buyer Plans Multifamily Conversion

by Abby Cox

WEST PALM BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $90.5 million sale of Pointe Verde Beach Lakes, a 400-unit condominium property located in West Palm Beach. Marcus & Millichap confirmed that the buyer, New Jersey-based apartment operator Kamson Corp., will convert the condos to market-rate apartments. Luke Wickham and Evan Kristol of Marcus & Millichap, along with Shelton Granade and Justin Basquill of IPA, represented Kamson in the transaction. The Ponte Verde at Palm Beach Lakes Condominium Association retained an affiliate of the Condominium Advisory Group LLC, led by John Cadden and Michael Fish, to serve as trustee on behalf of the selling entity. Situated adjacent to Bear Lakes Country Club, Point Verde at Palm Beach Lakes includes 24 two- and three-story residential buildings, along with a clubhouse. Amenities include two swimming pools, two racquetball courts and a dry sauna. The average unit size is 901 square feet.

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DevelopmentHospitalityMarylandSoutheast

Ownership Completes Phase I Renovations of Baltimore Marriott Inner Harbor at Camden Yards Hotel

by Abby Cox

BALTIMORE — A New York-based development firm doing business as SC Baltimore Hotel LLC has completed the first phase of the renovation of the Baltimore Marriott Inner Harbor at Camden Yards, a 523-room hotel located at 110 S. Eutaw St. in downtown Baltimore. HEI Hotels & Resorts operates the hotel, which is situated near Oriole Park at Camden Yards, the home ballpark of the Baltimore Orioles. Phase I is part of a two-part, $30 million property-wide renovation. The second phase, which will include upgrading the lobby, restaurant and meeting spaces, is expected to commence in the first quarter of 2027. Phase I focused on modernizing the hotel’s guestrooms, suites and concierge lounge. New in-room amenities include a smart TV with casting and streaming options, a mini-refrigerator, coffee maker and Wi-Fi. The executive lounge, located on the 10th floor, has been refreshed to provide an elevated experience for the hotel’s Marriott Bonvoy Platinum Elite, Titanium Elite and Ambassador Elite members, which features modern enhancements, new seating and a refined atmosphere. Guests can also enjoy complimentary all-day beverages, free daily breakfast and evening hors d’oeuvres. Additional hotel amenities include 24-7 fitness and business centers, more than 18,400 square feet of event space and The …

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DevelopmentIllinoisMidwestRetail

Shops at North Bridge Along Chicago’s Magnificent Mile to Undergo $40M Renovation

by Kristin Harlow

CHICAGO — The Shops at North Bridge will undergo a multi-million-dollar reinvestment that will reposition the Michigan Avenue property at the gateway to Chicago’s Magnificent Mile. The multi-phase restoration will introduce a new street presence, hospitality-inspired interiors and a reimagined mix of retail and dining. Construction is scheduled to begin this month, with retailers remaining open throughout the phased redevelopment process. The project cost is $40 million, according to Crain’s Chicago Business. At the center of the project is a transformation of the property’s Michigan Avenue entrance designed by ParkFowler Plus. A new glass façade will feature a large-format, backlit LED archway display with a digital art installation. Updated tenant signage and architectural enhancements will further elevate the property’s street presence, while Nordstrom’s flagship location will remain a central component of the design. The property’s secondary entrance at Grand Avenue and Rush Street will also undergo significant upgrades, including an additional digital display, enhanced lighting, modernized finishes, improved wayfinding and a more visible tenant directory. Inside, the central atrium will be transformed into a hospitality-driven gathering space anchored by a suspended sculptural installation and a future bar and lounge concept. As part of the broader repositioning efforts, a new merchandising …

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DevelopmentMidwestMultifamilyOhio

NRP Group Breaks Ground on 336-Unit Apartment Development in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — The NRP Group has broken ground on OSU East, a 336-unit apartment development in Northwest Columbus. The project marks NRP Group’s first market-rate community in Columbus. The 27.5-acre development site on West Dublin Granville Road will also include 138 for-sale townhomes developed by M/I Homes of Central Ohio LLC. OSU East will consist of 11 three-story buildings with a mix of one-, two- and three-bedroom homes. An 11-foot-wide bike path will be installed along the project’s frontage in coordination with the city. Amenities will include a clubhouse, fitness center, business pod with coworking space, volleyball and bocce courts, an outdoor grill area, pool, courtyards and a package delivery room. PNC Bank provided financing for the project, and the City of Columbus served as a partner throughout the entitlement and development process.

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Woodbranch-Plaza-Houston
DevelopmentOfficeTexasUncategorized

Stena Real Estate to Renovate 580,558 SF Office Campus in Houston’s Energy Corridor

by Taylor Williams

HOUSTON — Stena Real Estate AB, the American ownership arm of Swedish investment company Stena Property, will renovate Woodbranch Plaza, a 580,558-square-foot office campus located in the Energy Corridor submarket of West Houston. Woodbranch Plaza is a four-building campus that offers amenities such as a fitness center, conference facilities and a deli. As part of the capital improvement program, ownership plans to activate additional shared amenity spaces and upgrade the lobby, common areas and restrooms, as well as enhance the landscaping and other outdoor green spaces. Stena, which has tapped Transwestern as the property’s new leasing agency, is also in the process of constructing speculative office suites.

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DevelopmentIndustrialTexas

Foundry Commercial Underway on 13-Acre IOS Facility in Hutchins, Texas

by Taylor Williams

HUTCHINS, TEXAS — Orlando-based owner-operator Foundry Commercial is underway on construction for Wintergreen Gardens, a 13-acre industrial outdoor storage (IOS) facility in Hutchins, a southeastern suburb of Dallas. Wintergreen Yards will feature 9 acres of concrete-paved outdoor storage space along with two tilt-wall industrial buildings totaling 25,000 square feet. Construction began earlier this summer, and delivery is slated for the first quarter of 2027.

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