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DevelopmentIndustrialSouth CarolinaSoutheast

HDA to Design 385,000 SF Distribution Center in Metro Charleston for RoadOne IntermodaLogistics

by John Nelson

SUMMERVILLE, S.C. — St. Louis-based HDA has been selected to design a new 385,000-square-foot distribution center in Summerville for RoadOne IntermodaLogistics, an intermodal trucking provider. The developer of the build-to-suit project is Equity Industrial Partners, and Frampton Construction is serving as the development’s general contractor. Situated on a 48-acre site northwest of Charleston, the cross-dock facility will feature 32-foot clear heights, 100 dock doors, one drive-in door and parking for 364 trucks and 138 cars. Additionally, the property will include two office spaces with private and open work areas, a conference room, breakrooms, restrooms and a locker room. Site work began for the project in January and is expected to wrap up in January 2025.

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Elmore-Roberts-Great-Falls-MT
AcquisitionsAffordable HousingDevelopmentMontanaMultifamilyWestern

CPP Purchases 60-Unit Elmore Roberts Affordable Multifamily Community in Great Falls, Montana

by Amy Works

GREAT FALLS, MONT. — Community Preservation Partners (CPP) has acquired Elmore Roberts, an affordable apartment property in Great Falls, with plans to renovate the asset. CPP’s total development investment is approximately $13.2 million, which includes the $3.1 million purchase price and an estimated $97,000 per unit renovation cost. Located at 6 6th St. S., Elmore Roberts features 60 units in a mix of 30 one-bedroom and 30 two-bedroom layouts. Planned renovations include addressing deferred maintenance and outdated systems, including ADA accessibility, and increasing sustainability across the property. In-unit renovations will include new formaldehyde-free cabinets and countertops, Energy Star refrigerators and upgraded ranges and range hoods. Additionally, units will receive low-flow toilets, updated showerheads and faucets, LED lighting upgrades and a new coat of low-VOC paint. Exterior and community upgrades include new windows, roofing and gas furnaces, path-of-travel upgrades, parking lot restriping and brick pointing. CPP will also upgrade the laundry room and add a community area with a computer room. Renovations are slated for completion in December. Project partners include WNC & Associates, Glacier Bank, MBOH, Montana Healthcare Foundation and the City of Great Falls. The property’s two ModRehab contracts were set to expire in 2024, but with CPP’s involvement, a …

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DevelopmentFloridaMixed-UseSoutheastStudent Housing

Core Spaces, RD Management to Develop 1,300 Student Housing Beds Near University of South Florida in Tampa

by John Nelson

TAMPA, FLA. — Core Spaces and RD Management plan to break ground soon on Hub II, a 400-unit student housing project in Tampa’s Uptown district that will comprise 1,300 beds and a structured parking garage with 800 spaces. The project is Phase I of multiple communities that the co-developers are planning within Rithm, a nearly 100-acre campus adjacent to the University of South Florida that formerly housed University Mall, which opened in 1974. Core Spaces and RD Management ultimately plan to develop up to 3,000 student housing beds, 150 conventional apartments and 10,000 square feet of retail space at Rithm, which already features a Sprouts Farmers Market, restaurants, bars and incubator space for startup companies. Construction will begin on Hub II this fall, and the project is expected to be completed in fall 2027. The other phases (Hub III and Hub IV) will include over 700 beds and 800 beds, respectively, and will be fully delivered by 2030. In 2022, Core Spaces delivered Hub Tampa, a 359-unit, 890-bed student housing community located within Rithm.

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DevelopmentMixed-UseSouth CarolinaSoutheastStudent Housing

Signet Underway on Five-Story Mixed-Use Development Near Clemson University in South Carolina

by John Nelson

CLEMSON, S.C. — Signet Real Estate Group is underway on the development of MODA Clemson, a five-story mixed-use development in Clemson. Located near Clemson University, the project is designed to cater to the needs of students and young professionals. In addition to 159 residential units in studio, one-, two- and three-bedroom layouts, the property will feature ground-floor retail space. Project partners include First National Bank of Pennsylvania, Kimley-Horn, Coursey Architects, HPA Design Group, Freese Johnson and Catamount Constructors. Signet expects to complete MODA Clemson in summer 2026. Pintail Real Estate will manage retail leasing at the property.

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Affordable HousingDevelopmentMultifamilyTexas

Housing Trust Group Begins Work on $33.7M Affordable Housing Redevelopment Project in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — Housing Trust Group has begun work on Inn Town Lofts, a $33.7 million affordable housing redevelopment project in Lubbock. The project will convert the former Jim Kimmell Center into a residential complex that, along with another building that will be constructed from the ground up, will add 56 units to the local supply. Residences will come in studio, one-, two- and three-bedroom formats and will feature a range of income restricions. Amenities will include a fitness center, children’s playground, community laundry room, business center and a community theater area. Wallace Architects designed Inn Town Lofts, and Teinert Construction is the general contractor. Leasing will begin next summer.

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West-Side-Square-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Partnership Receives $169M Construction Loan for Jersey City Multifamily Project

by Taylor Williams

JERSEY CITY, N.J. — West Side Square Development Fund, which is a partnership between LanTree Developments, Altree Developments Inc., Lanterra Developments Inc. and Westdale Properties, has received a $169 million construction loan for a 477-unit multifamily project in Jersey City. Bravo Property Trust provided the debt. West Side Square will be located in the Journal Square area and will house studio, one- and two-bedroom units, as well as 9,841 square feet of retail space. Amenities will include an outdoor deck with a pool and grilling stations, fitness center, coworking space, a community room and a dog run. Marchetto Higgins Stieve is the project architect, with Childs Dreyfus Group handling interior design. Construction began last December, and completion is slated for 2026.

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DevelopmentIllinoisMidwest

Gensler Completes Study for Reimagining Chicago’s North Michigan Avenue

by Kristin Harlow

CHICAGO — Parkside Realty’s Bob Wislow and Camille Julmy partnered with a team of architects and strategists at Gensler Chicago to study the innovations and interventions that could help elevate North Michigan Avenue. According to Gensler, the COVID pandemic led to North Michigan Avenue receiving 6.5 million fewer visits per year; a 74 percent increase in crime; 25 to 35 percent decrease in property tax value; massive losses of sales, hotel and entertainment taxes; and over 2,000 jobs lost. North Michigan Avenue hasn’t undergone a major transformation since the 1990s. The team identified the end of North Michigan Avenue, between Chicago Avenue and Oak Street Beach, as the area with the greatest potential to elevate the famed street’s experience. The high street’s southern edge features the Michigan Avenue Bridge, Chicago River Tours, Chicago Architecture Center, Apple Store, Wrigley Building and the recently renovated Tribune Tower, creating an anchor for the street. On the northern end, the foreclosure of Water Tower Place, potential sale of the Drake Hotel, repositioning of the John Hancock Center and a now-empty 830 N. Michigan Avenue have presented an opportunity to create an equally prominent northern anchor, according to Gensler.

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DevelopmentIndustrialMidwestMinnesota

Opus Breaks Ground on 132,200 SF Spec Industrial Facility in Dayton, Minnesota

by Kristin Harlow

DAYTON, MINN. — The Opus Group has broken ground on Dayton Parkway Business Center in Dayton, a northwest suburb of the Twin Cities. The 132,200-square-foot speculative industrial facility will be located at 17600 Territorial Road near the new Dayton Parkway Interchange and I-94. TurbinePROs, a provider of field services for rotating equipment manufacturers, has signed a lease for more than 87,000 square feet. The property will feature 19 dock doors, four drive-in doors, a clear height of 28 feet, 136 vehicle parking stalls and 14 trailer parking stalls. Opus is the developer, design-builder, architect and structural engineer. Dan Swartz and Austin Lovin of CBRE are marketing the space for lease. Completion is slated for early 2025.

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DevelopmentFloridaMultifamilySoutheast

Berkadia Arranges Sale of 22-Acre Multifamily Development Site in Port St. Lucie, Florida

by John Nelson

PORT ST. LUCIE, FLA. — Berkadia has arranged the sale of a 22-acre multifamily development site at 3043 S.E. Port St. Lucie Blvd. in Port St. Lucie, a city in South Florida. Development firm Ciprés acquired the parcel from Sympatico Real Estate for $8.5 million, with plans to develop a 324-unit community at the site. A construction timeline was not disclosed. Omar Morales, Jaret Turkell, Roberto Pesant and Yoav Yuhjtman of Berkadia arranged the transaction. Javier Herrera of Franklin Street acted as the land lender broker, and Vertix provided acquisition financing.

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DevelopmentGeorgiaMultifamilySoutheast

Thompson Thrift to Develop 212-Unit Multifamily Community in Metro Atlanta

by John Nelson

STOCKBRIDGE, GA. — Thompson Thrift has announced plans to develop a 212-unit multifamily community at 2245 Jodeco Road in Stockbridge, a southeast suburb of Atlanta. Dubbed The Levi, the property will feature one-, two- and three-bedroom apartments averaging 1,100 square feet in size. Amenities at the community will include a 24-hour fitness scenter, swimming pool, firepits, outdoor grills, work suites, a pickleball court, dog park, pet spa and a Starbucks coffee bar. The Levi will be situated within the 158-acre master-planned Bridges at Jodeco development. A construction timeline was not disclosed.

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