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The-Quarry-Fort-Collins-CO
ColoradoDevelopmentMultifamilyWestern

Thompson Thrift Opens 319-Unit Quarry Apartment Community in Fort Collins, Colorado

by Amy Works

FORT COLLINS, COLO. — Thompson Thrift has opened The Quarry, a multifamily property located at 1775 Ashlar Drive near the main campus of Colorado State University in Fort Collins. The first residents began moving into the community in April, and Thompson Thrift expects construction to be completed during first-quarter 2025. Situated on 20 acres, The Quarry offers 319 one-, two- and three-bedroom apartments in three- and four-story buildings, as well as 10 single-family villa structures and detached garages. Units features gourmet bar kitchens with quartz countertops and designer backsplashes, walk-in closets and full-size washers/dryers, as well as private outdoor spaces with fenced yards on select units. Community amenities include a clubhouse, 24-hour fitness center, swimming pool with cabanas, community garden and a fitness trail.

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CivicDevelopmentDistrict of ColumbiaIndustrialMarylandSoutheast

Biden Administration Announces $3B Investment in Port Infrastructure

by John Nelson

WASHINGTON, D.C. — The Biden Administration has announced a $3 billion investment from the Inflation Reduction Act to improve port infrastructure and support an estimated 40,000 “good-paying and union jobs” at 55 ports across 27 states. According to The White House press, U.S. ports employ more than 100,000 union workers. The initiative, named The Clean Ports Program, is headlined by a $147 million investment for the Maryland Port Administration via grants and awards that will support 2,000 jobs, as well as fund the installation of zero-emission equipment, charging infrastructure and power improvements. Biden made the announcement yesterday at the Port of Baltimore, site of the Francis Scott Key Bridge collapse in March. The Clean Ports Program is expected to increase the demand for American manufactured electric cargo handling equipment and eliminate more than 3 million metric tons of carbon pollution over the first 10 years of implementation, which is equivalent to 391,220 homes’ energy use for one year. The program will fund new battery-electric and hydrogen-powered cargo handling equipment, drayage trucks, locomotives and vessels, as well as charging/fueling infrastructure and solar power installation.

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DevelopmentLeasing ActivityMixed-UseRetailSoutheastTennessee

Crunch Fitness Opens at Hamilton Place Mall in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Crunch Fitness has opened a new location at Hamilton Place, a shopping mall and mixed-use campus in Chattanooga. The property is owned by locally based and publicly traded CBL Properties. The new fitness venue is one of the final components of the mall’s Sears redevelopment project, which commenced in 2019. Other tenants that have backfilled the former Sears department store include The Cheesecake Factory, Mean Mug Coffeehouse, Malone’s, Dave & Buster’s, Dick’s Sporting Goods and an Aloft by Marriott hotel. Since March, CBL Properties has welcomed eight new concepts at Hamilton Place, including Taco Mamacita, Texas Roadhouse, Mr. Cow, Malone’s, Miniso, Vintage Stock, Dry Goods, Shoe Station, as well as a newly remodeled and expanded Buckle store. Additional openings are expected in 2025.

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AlabamaDevelopmentLeasing ActivityMixed-UseRetailSoutheast

Ballard Designs Debuts First Alabama Store at Hardwick Building in Downtown Birmingham

by John Nelson

BIRMINGHAM, ALA. — Ballard Designs has opened its first Alabama location in downtown Birmingham. Situated along the city’s Rotary Trail, Ballard’s newest location occupies the street level of the historic Hardwick Building, with restaurants and offices filling the remaining floors and spaces of the former steel factory. Locally based Bayer Properties owns the Hardwick Building and will soon welcome restaurants Epice and Lapeer Steak and Seafood to the property, according to Bham Now. The new Ballard Designs store is set up with several vignettes staged with the brand’s living room and dining room furniture, lighting, rugs, bedding and home décor. The store also includes a fully staffed design center where patrons can meet with one of the retailer’s design consultants. Additionally, Ballard designed and furnished the Hardwick Building’s shared entryway to serve as a waiting area for restaurant goers.

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DevelopmentMidwestMissouriRetail

Keystone Construction Breaks Ground on $60M CarShield Sportsplex Facility in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — Keystone Construction Co. has broken ground on the new $60 million CarShield Sportsplex AAA Hockey & Futbol facility in the St. Louis suburb of Chesterfield. Completion is slated for January 2026. The indoor and outdoor sports facility will accommodate the growing CarShield AAA Hockey & Futbol clubs, which serve more than 500 kids and 45 teams in metro St. Louis. The 325,000-square-foot project will be situated on 33 acres at 530 N. Eatherton Road. The development will include four indoor turf soccer fields, two indoor ice rinks, team locker rooms, a pro shop, training and fitness spaces, a restaurant, bar, concessions and classrooms. Outside, there will be three turf soccer fields, concessions, a dining patio and children’s playground. The project team includes civil engineer Stock & Associates and architect Gray Design Group.

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CivicDevelopmentTexas

Educare to Open 25,000 SF Childcare, Education Facility in San Antonio

by Taylor Williams

SAN ANTONIO — Educare Learning Network will open a 25,000-square-foot childcare and early learning facility in San Antonio. Designed by RDG Planning & Design and Pfluger Architects, the facility will feature flexible classroom spaces, outdoor learning areas and advanced technology to support teaching and professional development. Construction is scheduled to begin before the end of the year and to be complete in summer 2026.

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Cornerstone-Commerce-Center
DevelopmentIndustrialTexas

VanTrust Real Estate Completes 413,000 SF Industrial Project in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based developer VanTrust Real Estate has completed Cornerstone Commerce Center, an approximately 413,000-square-foot industrial project in northeast San Antonio. Cornerstone Commerce Center comprises two buildings that span 222,439 and 190,734 square feet on a 60-acre site. An undisclosed manufacturer of automotive accessories has leased 104,514 square feet at the first building, with CBRE representing both the tenant and landlord in the lease negotiations. VanTrust also purchased an additional 33 acres for Phase II of the project, which can accommodate up to an additional 400,000 square feet of new development. The project was first announced in April 2022.

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DevelopmentLoansMultifamilyNew MexicoWestern

Dwight Mortgage Trust Finances $56.3M Loan for Madera Apartments in Santa Fe

by Amy Works

SANTA FE, N.M. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided $56.3 million in bridge financing for Madera Apartments in Santa Fe. Proceeds of the loan will be used to retire the sponsor’s existing construction debt and provide the borrower, Thrive Development, with capital to complete construction and lease-up of the property. Upon completion, Madera Apartments will offer 218 one-, two- and three-bedroom townhome-style apartments with patios or balconies, in-unit washers and dryers, smart home technology and walk-in closets. The community will consist of 20 two-story residential buildings, a communal clubhouse, swimming pool, pickleball court, yoga studio, fitness center, dog wash station, playground and garage parking with electric vehicle charging stations.

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Charme-on-Eagle-Denton
DevelopmentMultifamilyStudent HousingTexas

Rael Development Breaks Ground on 192-Unit Student Housing Project in Denton

by Taylor Williams

DENTON, TEXAS — Rael Development Corp. has broken ground on Charme on Eagle, a student housing project that will be located near the University of North Texas campus in Denton. Set for delivery in fall 2026, the community will offer a total of 463 beds across 192 units that will feature studio through four-bedroom configurations. Amenities will include a pool, grilling stations, speakeasy lounge and game room, private study and community spaces and a fitness center with designated spin/yoga studio. The development is Rael’s second in the Denton market, following CityParc at Fry Street.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Spandrel Development Opens Two North Carolina Apartment Communities Totaling 562 Units

by John Nelson

CHARLOTTE AND RALEIGH, N.C. — Charleston-based Spandrel Development Partners has delivered two apartment communities in North Carolina totaling 562 units. The properties include Enclave at Radius Dilworth, an eight-story multifamily high-rise in Charlotte’s Dilworth district spanning 274 units, and Mira Raleigh, a 288-unit luxury mid-rise community in the state’s capital. Enclave at Radius Dilworth is the first community to open within the Radius Dilworth development, with the other project including a 26-story high-rise called The Overlook. Spandrel’s development partners on the project include Atalaya Capital Management and Partners Group. The firm has begun leasing Enclave and plans to have first move-ins begin in the fourth quarter. Mira Raleigh is situated on the southern border of the city’s central business district, with first move-ins occurring in June. Monthly rental rates range from $1,534 to $3,153 at Enclave and $1,349 to $3,926 at Mira Raleigh, according to Apartments.com.

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