Development

Equitas Management Completes Renovation of 57,000 SF Office Building in Chattanooga, Tennessee

by John Nelson January 17, 2024

CHATTANOOGA, TENN. — Equitas Management Group has completed renovations for One Park Place, a 57,000-square-foot office building located at 6148 Lee Highway in Chattanooga. The property is fully leased to tenants including Equitas Management and EMJ, a general contractor that oversaw the renovations as well as constructed the building originally in 1984. Other tenants include medical, legal and financial services tenants, among others. Designed by HK Architects, the renovations include a new sleek black exterior, updated atrium, modernized offices and conference spaces and a grand balcony.

January 17, 2024

Development Industrial Texas

Link Logistics Completes 778,950 SF Industrial Project in The Colony, Texas

by Taylor Williams January 17, 2024

THE COLONY, TEXAS — New York City-based Link Logistics has completed the second and final phase of Live Oak Logistics, an industrial project in the northern Dallas suburb of The Colony that added 778,950 square feet of space across four buildings to the local supply. The Phase II buildings range in size from 115,920 to 395,000 square feet, feature clear heights as high as 36 feet and can support manufacturing, warehousing and distribution users. GSR Andrade designed the project, and MW Builders served as the general contractor.

January 17, 2024

Development Office Texas

Midway Unveils Plans for 320,000 SF Office Building at CITYCENTRE in West Houston

by Taylor Williams January 17, 2024

HOUSTON — Midway has unveiled plans for a 320,000-square-foot office building within the locally based developer’s CITYCENTRE mixed-use destination in West Houston. The 19-story building, which will be known as CITYCENTRE Six, will sit on a nine-story podium parking structure and include 12,000 square feet of retail and restaurant space. Midway has also secured an undisclosed anchor tenant to occupy 65 percent of the office space. The design team includes architect of record Kirksey, Munoz + Albin Architecture & Planning and OJB Landscape Architecture. Construction is scheduled to begin in the second quarter and to be complete in 2026.

January 17, 2024

Development Retail Texas

GBT Realty to Develop 42,000 SF Shopping Center in Kyle, Texas

by Taylor Williams January 17, 2024

KYLE, TEXAS — GBT Realty Corp., a developer based in metropolitan Nashville, will build The Shops at The Brick & Mortar District, a 42,000-square-foot shopping in the southern Austin suburb of Kyle. A 23,250-square-foot Sprouts Farmers Market grocery store will anchor the center, which will be situated within the 2,200-acre Plum Creek master-planned development. Vertical construction is scheduled to begin this quarter, and completion is slated for spring 2025.

January 17, 2024

Affordable Housing Development Multifamily New York Northeast

Conifer Realty, CPP to Renovate 526-Unit Affordable Seniors Housing Property in Rochester, New York

by Taylor Williams January 17, 2024

ROCHESTER, N.Y. — A partnership between locally based owner-operator Conifer Realty and Community Preservation Partners (CPP) will renovate Andrews Terrace, a 526-unit affordable seniors housing complex in the upstate New York city of Rochester. Built in 1975, the waterfront property consists of two buildings that rise 19 and 22 stories and house one- and two-bedroom units for seniors age 62 and above and disabled residents. A partnership between KeyBank Community Development Lending & Investment and Goldman Sachs Asset Management provided $135.6 million in Low-Income Housing Tax Credit equity and $200 million in construction financing to fund renovations and preserve the property’s affordability status. All apartments will receive upgraded countertops, painting, appliances, fixtures and cabinets. Common areas, including the lobby, community room, management office, maintenance shop and parking garage, will be renovated with drywall repairs, painting, new flooring and HVAC upgrades as needed. There will also be several new outdoor additions to the community, including a community garden on the property’s terrace, grandparents’ playground, a seating and grilling area and bocce ball courts. Indoor amenities will include a fitness room, game room, reading nook and two community rooms with serve-in kitchens. New mailboxes with parcel boxes will also be installed. Lastly, …

January 17, 2024

Development Leasing Activity New York Northeast Office

Signature Acquisitions Launches Renovation, Secures Two Renewals at Office Building in Tarrytown, New York

by Taylor Williams January 17, 2024

TARRYTOWN, N.Y. — Signature Acquisitions has launched a renovation of the lobby, cafeteria and other common areas at Tarrytown Corporate Center, a 180,000-square-foot office building located on the northern outskirts of New York City.The regional owner-operator has also secured two lease renewals at the building: a 20,538-square-foot deal with coworking firm Regus and a 7,581-square-foot deal with office technology and IT firm Atlantic Tomorrow. Jeff Smith internally represented Signature Acquisitions in both sets of lease negotiations. Peter Dana, Jason Lee and Craig Ruof of Colliers represented Regus, and Harland Hollander of Savills represented Atlantic Tomorrow. Ownership has tapped JLL to lease the building following the completion of the capital improvement program.

January 17, 2024

Affordable Housing Development Midwest Minnesota Multifamily

Dominium Completes Final Phase of $160M Affordable Housing Adaptive Reuse Project in St. Paul

by Kristin Harlow January 17, 2024

ST. PAUL, MINN. — Dominium has completed the final phase of Upper Post Flats, a 192-unit affordable housing development that repurposed buildings at the historic Fort Snelling site in St. Paul. Minneapolis-based BKV Group served as the architect. Preference is given to residents who are military members, veterans, first responders and their families. The 42-acre site included 26 buildings, including barracks, an administration building, gymnasium, morgue and hospital, all of which have been transformed into a residential community. Floor plans range from 285 to 2,676 square feet. The individual buildings were in poor condition, as some had stood vacant since the 1970s. But the project team was able to salvage original walls, doors and windows, entryways and staircases in many of them. Buildings requiring a more extensive structural overhaul were rebuilt to historical standards. Getting the project off the ground took years and the combined efforts of a public-private partnership that included the site’s owner, the Minnesota Department of Natural Resources, the National Park Service, Hennepin County, Minneapolis Park and Recreation Board and the Minnesota Historical Society, which operated the historic fort. Low-Income Housing Tax Credits contributed $70 million of the project’s $160 million total cost, making the below-market-rate rents …

January 17, 2024

Affordable Housing Development Iowa Midwest Multifamily

The Annex Group to Develop $62.9M Affordable Housing Community in Des Moines

by Kristin Harlow January 17, 2024

DES MOINES, IOWA — The Annex Group has unveiled plans to develop Union at River’s Edge, a $62.9 million affordable housing community in Des Moines. The 216-unit development will offer one-, two- and three-bedroom residences to households whose income levels are at or below 60 percent of the area median income. The project will be situated on nearly four acres at 1600 Indianola Ave. Completion is slated for spring 2025. Amenities will include a fitness center, clubhouse, playground, picnic area, parking garage, community room, dog park and onsite leasing office. Residents will receive complimentary transit passes for the Des Moines Area Regional Transit Authority, which will have a bus stop adjacent to the property. Project partners include Civil Design Advantage, ASK Studio and Summit LIHTC Consulting. Affiliates of The Annex Group will complete construction and perform property management services for the community. Financing partners include WNC for more than $24 million in Low-Income Housing Tax Credit equity, Cedar Rapids Bank and Trust for tax-exempt bond financing of over $32 million, Iowa Finance Authority for tax-exempt bond allocation, and the City of Des Moines for tax-increment financing, tax abatement and $300,000 American Rescue Plan Act funds.

January 17, 2024

Acquisitions Development Midwest Minnesota

Ryan Cos. Purchases 40-Acre Land Site in Arden Hills, Minnesota for $12.7M

by Kristin Harlow January 17, 2024

ARDEN HILLS, MINN. — Ryan Cos. US Inc. has purchased “Outlot A,” a 40-acre land site in Arden Hills, a northeast suburb of Minneapolis, for $12.7 million. The Ramsey County Board of Commissioners approved the purchase and sale agreement for the land parcel, which is situated adjacent to Rice Creek Commons, a planned residential and commercial redevelopment of the former Twin Cities Army Ammunition Plant (TCAAP). The parcel is zoned for commercial use under the city’s TCAAP Redevelopment Code. Alatus LLC continues to serve as the lead developer of the main 390-acre Rice Creek Commons redevelopment area. A preliminary development agreement with Alatus was approved in December. Ryan will offer Outlot A as a build-to-suit that can accommodate 400,000 to 600,000 square feet. Development possibilities include a corporate campus, a research and development center, life sciences offices or manufacturing facilities alongside retail and restaurant space. The parcel will connect to the Rice Creek North Regional Trail for bicycle and pedestrian access. Ryan also expects to incorporate green space and outdoor gathering areas. Ramsey County plans to request $25 million in funding from the Minnesota Legislature to build stormwater infrastructure and construct the main public roadway. The total future development value …

January 17, 2024

Arizona Development Multifamily Western

McShane Completes 242-Unit Livano Deer Valley Apartment Community in Phoenix

by Amy Works January 17, 2024

PHOENIX — McShane Construction Co., on behalf of owner Jomax Residences, has completed the development of The Livano Deer Valley, a multifamily property in Phoenix. Humphreys & Partners Architects designed the project. Situated on 10.8 acres, the three-story community features 242 apartments in a mix of studio, one- and two-bedroom layouts with wood-style flooring, granite countertops, stainless steel appliances, designer ceramic tile backsplashes and abundant natural light. On-site amenities include a 4,000-square-foot designer clubhouse, 60,000-gallon resort-style pool, a dog park and courtyards with ample seating, fire pits and barbecues.

January 17, 2024

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