Saturday, July 12, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

DevelopmentFloridaMixed-UseMultifamilyRetailSoutheastTop Stories

Terra, Grass River Property Complete Grove Central Mixed-Use Development in Miami

by John Nelson

MIAMI — Terra and Grass River Property, two Miami-based development firms, have completed construction of Grove Central, a transit-oriented, mixed-use development in Miami’s Coconut Grove neighborhood. The property comprises a 23-story apartment tower, 1,250-space public parking garage and 170,000 square feet of retail space leased to tenants including Target and Sprouts Farmers Market. Grove Central is a public-private partnership between the co-developers and Miami-Dade County, which owns the land. The development is located at the intersection of US Highway 1 and SW 27th Avenue and connects to the adjacent Coconut Grove Metrorail Station. The project interfaces directly with The Underline, a 10-mile linear park that stretches from the Dadeland South Metrorail Station to the Miami River in downtown’s Brickell district, as well as Miami-Dade County’s bus system and the City of Miami’s trolley network. According to Terra and Grass River Property, Grove Central generated more than 1,600 construction jobs during its development and nearly 500 permanent full-time and part-time positions. The project has also spurred tens of millions of dollars in lease revenue to Miami-Dade County, which can collect property tax revenues for the first time in the site’s history. “Grove Central is an exciting milestone and a shining example …

Continue Reading
FacebookTwitterLinkedinEmail
Zachary Richards adaptive reuse quote Bohler
BohlerContent PartnerDevelopmentFeaturesMidwestMultifamilyNortheastOfficeRetailSoutheastWestern

Adaptive Reuse Developers Repurpose Antiquated Real Estate to Benefit Contemporary Consumers

by Sarah Daniels

Commercial property conversions can offer significant advantages over conventional ground-up real estate developments. Conversions can provide a head start on construction with established entitlements, existing structures, in-place utilities and entry to choice locations in otherwise built-out submarkets. Consider the Universal Buildings, Post Brothers’ conversion of two 1960s-era office buildings into more than 600 residential units and ground-floor retail just north of the District of Columbia’s Dupont Circle. The 15-story complex will feature a two-level, glass-walled fitness and recovery center with more than 10,000 square feet of training zones, equipment and classrooms. The developer is housing the fitness center and other amenities in a new atrium that replaces the upper levels of structured parking originally built within one of the former office buildings. “The location is incredible — there is probably no greater location in any major city in the country for conversion,” says Josh Guelbart, Post Brothers’ Co-Chief Operating Officer. “Having the entire block means we have light, air and hilltop views of Kalorama, Adams Morgan and Dupont Circle, three of the finest residential neighborhoods in the District. There isn’t room for new buildings of scale in those neighborhoods, and that really made this existing, large building attractive to us.” …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMississippiSoutheastStudent Housing

Mississippi State University Begins $80M Residence Hall Development

by John Nelson

STARKVILLE, MISS. — Mississippi State University has announced plans for an $80 million residence hall development on its campus in Starkville. The five-story project will span 155,000 square feet and offer 400 beds. The development is also set to include a dining hall, offices, a storm shelter and shared amenity spaces. The development team for the project includes Roy Anderson Corp. and Wier Boerner Allin Architecture. Construction is expected to begin in February with completion scheduled for spring 2025.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMultifamilySoutheast

Altman Cos. Delivers 318-Unit Altís Blue Lake Multifamily Community in South Florida

by John Nelson

LAKE WORTH, FLA. — The Altman Cos. has opened Altís Blue Lake, a 318-unit apartment community in Lake Worth, roughly 40 miles outside of Fort Lauderdale. Located on Jog Road, the property comprises residences in one-, two- and three-bedroom layouts. The community’s 6,000-square-foot clubhouse features a heated swimming pool with cabanas, grilling stations and a pavilion. Amenities at the community also include a 24-hour fitness center, cyber café, a private conference room, game room, wellness treatment room, dog spa, multi-purpose trail and a pet park. Monthly rental rates at the community begin at $2,110, according to the property website.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaSelf-StorageSoutheast

Go Store It Opens 530-Unit Self-Storage Facility in Pensacola, Florida

by John Nelson

PENSACOLA, FLA. — Go Store It Self Storage, an affiliate of Madison Capital Group, has opened a new, 530-unit self-storage facility at 3670 N. L St. in Pensacola. Totaling 530 units, the property features climate control, as well as recorded video surveillance and keypad access for security. BenCo Construction completed the project, an adaptive reuse of a former office building, on behalf of Go Store It. Monthly rental rates at the property begin at $36, according to the facility website.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMultifamilyNorth CarolinaSoutheast

Urban Standard Capital Provides $8M Construction Financing for Apartment Development in Durham

by John Nelson

DURHAM, N.C. — Urban Standard Capital has provided an $8 million loan to finance the construction of 555 Abranova, an apartment development in Durham, near the city’s downtown and Research Triangle Park. Abranova Real Estate is the borrower and developer. Upon completion, the property will feature 48,000 square feet of residential space across 37 units, with 5,000 square feet and 1,500 square feet of coworking and retail space, respectively. Other amenities will include a gym, yoga studio, outdoor terrace with grills and a communal lounge. Residents will also have access to the basketball court, dog park and walking paths within the developer’s adjacent townhome project. Site work has been completed at 555 Abranova, and completion is expected for either the fourth quarter of this year or the first quarter of 2025.

Continue Reading
FacebookTwitterLinkedinEmail
The-Luminary-Austin
DevelopmentMultifamilyTexas

Northland Living Unveils Plans for 35-Story Downtown Austin Multifamily Tower

by Taylor Williams

AUSTIN, TEXAS — Canadian developer Northland Living has unveiled plans for Luminary, a 35-story multifamily tower that will be located at the northwest corner of 14th and Guadalupe streets in downtown Austin. Designed by Page Southerland Page, Luminary will feature 286 condos in one-, two- and three-bedroom floor plans, 4,800 square feet of retail space, one floor of office space and a six-story parking garage. The Luminary will also offer a pool, fitness center and other indoor and outdoor amenities. A construction timeline was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentSingle-Family RentalTexas

Capital Square Nears Completion of 195-Unit Build-to-Rent Residential Project in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Virginia-based Capital Square is nearing completion of a 195-unit build-to-rent residential project in the North Texas city of Denton. Perch Denton will sit on 18 acres and feature a mix of one-, two- and three-bedroom homes with an average size of 1,005 square feet. Amenities will include a pool, fitness center, business center, dog park, pavilion and a pickleball court. Capital Square is co-developing Perch Denton with Good + West Residential and Montgomery Street Partners. Full delivery is slated for the end of the first quarter.

Continue Reading
FacebookTwitterLinkedinEmail
Penn-2-Manhattan
DevelopmentNew YorkNortheastOfficeTop Stories

Vornado Realty Trust Nears Completion of $750M Repositioning of Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Vornado Realty Trust (NYSE: VNO) is nearing completion of a $750 million repositioning of PENN 2, a 1.8 million-square-foot office building that sits atop the Penn Station transit hub in Midtown Manhattan. PENN 2 will sport architectural features such as a modern glass curtain wall, a triple-height lobby that opens onto a new plaza on 33rd Street and a six-story podium comprised of 105,000 square feet of column-free, double-height space.  Above the 33rd Street plaza is a 280-person town hall space with a flexible seating system that can support large-scale keynote talks, private media screenings, banquets, conferences, workshops and open-floor exhibitions. PENN 2 also offers 72,000 square feet of outdoor green space, including an outdoor terrace atop the podium and a landscaped 17,000 square-foot rooftop park that is available to all tenants. The building sits across the street from Madison Square Garden, which houses its global headquarters within the office space. The larger PENN District campus is home to major tenants such as Meta, Morgan Stanley, Amazon, The Hartford, Cisco Systems and Samsung. “The reimagined PENN 2 appeals directly to innovation-oriented companies seeking an ultra-premium, hospitality-infused office environment that offers a one-seat ride for workers throughout the …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaIndustrialSoutheast

Farpoint, Grandview to Develop 2 MSF Industrial Park in LaGrange, Georgia

by John Nelson

LAGRANGE, GA. — Farpoint Development and Grandview Partners plan to develop Lafayette Logistics Park, a 134-acre industrial project site located off I-85 in LaGrange. Southpoint Realty Group sold the land to the developers for an undisclosed price. Plans for the site include the development of up to 2 million square feet of industrial facilities across two phases. Phase I, which is scheduled to begin construction in the first quarter of this year, will comprise four buildings ranging from 187,000 to 270,000 square feet. Completion of Phase I is scheduled for the fourth quarter of this year. Phase II will feature up to 1 million additional square feet of industrial space. Wesley Budd of NAI Brannen Goddard represented Farpoint in the land acquisition and will lead leasing efforts at the property.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts