LOS ANGELES — Highridge Costa and Western Community Housing, along with Los Angeles Housing Department, Los Angeles County Department of Mental Health and the Housing Authority of the City of Los Angeles, have opened Main Street Apartments, an affordable housing development in the South Park neighborhood of Los Angeles. The community provides 57 fully furnished, permanent supportive housing apartment homes to homeless veterans and families earning at or below 30 percent to 50 percent of the area median income (AMI). The property offers 42 studio units targeted toward homeless veterans, 14 two-bedroom units targeting homeless families and a one-bedroom unit reserved for the onsite property manager. With 23 units set aside for homeless persons experiencing a mental health disorder, the community is also fully accessible, including all indoor and outdoor spaces, to those with physical disabilities. While 56 of the residences are fully adaptable units, an additional seven units have features for mobility accessibility and four units have features for communication accessibility. Units will include a bed, couch, dresser, dining table, chairs, kitchenette, closet and a private bathroom. Community amenities include a community room, residential courtyard, roof terraces, bike storage, laundry facilities and onsite resident services, as well as 1,500 square …
Development
BEAR, DEL. — A partnership between two regional developers, The Davis Cos. and J.G. Petrucci Co., is underway on construction of a 361,700-square-foot industrial project in Bear, about 45 miles southwest of Philadelphia. The site at 710 American Blvd. spans 28 acres and offers proximity to U.S. Route 40, 1-95, I-295 and the New Jersey Turnpike. The development will feature a clear height of 30 feet, 68 overhead loading dock doors, two drive-in doors, 3,150 square feet of office space and parking for 250 cars and 50 trailers. Construction is slated for a third-quarter 2025 completion.
AKRON, OHIO — Topgolf is set to open its fourth Ohio location in Akron on Friday, Nov. 8. The golf venue is located at 600 Swartz Road in the former BigShots Golf Firestone property. Topgolf Akron features 44 outdoor climate-controlled hitting bays spanning two levels. The venue is equipped with Topgolf’s Toptracer technology, which traces each golf ball’s flight path and distance. Guests will receive half-price gameplay from Nov. 8-21, according to a release.
COLUMBUS, NEB. — PACE Loan Group has provided a $3 million C-PACE loan for a dual-branded TownePlace Suites and Fairfield Inn & Suites by Marriott hotel under construction in Columbus, about 75 miles northwest of Lincoln. A regional bank provided a $10.5 million first mortgage. The C-PACE loan will be used to build the 102-room property. C-PACE proceeds will finance energy conservation and renewable energy measures, including high-efficiency HVAC and Domestic Hot Water (DHW) fixtures, low U-factor windows and interior LED lighting. Renewable and energy conservation measures are expected to save $64,224 annually. Construction is scheduled for completion this month.
COLLEGE PARK, MD. — Landmark Properties, a student housing owner-operator based in Athens, Ga., has unveiled plans for The Mark College Park, a 2,079-bed project that will be located adjacent to the University of Maryland’s campus. The 4.5-acre site currently houses two condo buildings that are known as College Park Towers. Landmark plans to acquire the condo buildings and land for the development in 2026. Completion of the new student housing community is slated for fall 2029. WDG Architecture is designing The Mark, and Landmark’s construction arm (Landmark Construction) is serving as the general contractor. Plans currently call for two 10-story buildings totaling 601 units that will come in studio to five-bedroom floor plans. Residences will feature stainless steel appliances, quartz countertops, hardwood-style floors and in-unit washers and dryers. Additionally, residents at The Mark will have access to covered garage parking and reserved parking for an additional charge. Amenities will include three quad-like open green spaces on the ground floor, as well as a fitness center and a paseo with tree coverage and green space. This feature will bisect the property north to south to improve pedestrian connectivity. In addition, an amenity deck atop the parking garage will offer …
ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers has completed a 430,000-square-foot facility in the northern Austin suburb of Round Rock. Known as SDC Austin, the two-building development is situated on a 40-acre site and has the capacity to produce up to 84 megawatts of power. The facility is designed to support liquid cooling and high-density computing environments with capabilities of up to 200 kilowatts per cabinet, and one such user, the Texas Advanced Computing Center, has already committed to the campus. The project was first announced in spring 2022.
NEW BRAUNFELS, TEXAS — AOG Living, the Houston-based developer and operator formerly known as Allied Orion Group, has begun leasing The Sophie, a 282-unit multifamily project in the northeastern San Antonio suburb of New Braunfels. The Sophie features one-, two- and three-bedroom units. The amenity package comprises a pool, fitness center, business center/cyber lounge, clubhouse with a gaming area, outdoor grilling stations, dog park, courtyard biergarten, sky lounge and package lockers. Rents start at $1,365 per month for a one-bedroom apartment.
HOUSTON — Dallas-based Holt Lunsford Commercial Investments (HLCI) will develop a 254,000-square-foot industrial project in northwest Houston. The site at 11010 Jones Road spans 23 acres. The development will comprise a 204,800-square-foot front-load building and a 50,000-square-foot rear-load building, as well as designated trailer parking space and five acres for outdoor storage. Construction is scheduled to begin in early 2025. A tentative completion date has not yet been announced.
PETOSKEY, MICH. — Merchants Capital has provided $66.3 million in financing for the construction of Maple Block Lofts, a 204-unit workforce housing property in Petoskey, a growing vacation destination in northern Michigan. Merchants Capital provided a $29.6 million Freddie Mac Unfunded Non-LIHTC Forward permanent loan for the development, and its parent company, Merchants Bank, provided a $36.7 million construction loan. Maple Block Lofts is the first project in Michigan to receive the Michigan State Housing Development Authority’s Affordable Housing Tax Increment Financing, which accounts for $6 million of the $14 million in tax-increment financing being granted for the development. More than $12 million was provided in state grants and loans, with strong support from Michigan Economic Development Corp.; the Michigan Department of Environment, Great Lakes and Energy; the City of Petoskey; the Emmet County Brownfield Redevelopment Authority; and numerous local businesses. The project will feature seven garden-style apartment buildings with 18 studios, 72 one-bedroom units and 114 two-bedroom units. Fifty percent of the units will be restricted to residents who earn between 60 percent and 120 percent of the area median income (AMI). Ten percent of the residences will be income- and rent-restricted for those making less than 80 percent …
MINNEAPOLIS — Kraus-Anderson (KA) has completed the office build-out for Värde Partners at North Loop Green in Minneapolis. The new office tower is located at 350 N. 5th St. Värde Partners is a global alternative investment firm specializing in credit and credit-related assets. Designed by ESG Architecture & Design, the 23,800-square-foot office features a spacious lobby and reception area. In addition to offices, there are conference rooms, versatile workspaces, a café and wellness rooms. KA worked on the office build-out with JLL Project & Development Services, the construction manager. In May, KA completed construction of North Loop Green, which comprises the 365,000-square-foot office building as well as a 449-unit apartment tower. The project team for North Loop Green included developer Hines and ESG Architecture & Design.