Development

Exceptional Healthcare Buys 10-Acre Parcel, Plans Hospital Development in Eloy, Arizona

by Amy Works December 18, 2023

ELOY, ARIZ. — Exceptional Healthcare has acquired 10 acres in Eloy, approximately midway between Phoenix and Tucson. The company plans to develop a hospital on the site to serve the growing community and surrounding areas. Walton International Group sold the site for $1.1 million. The planned hospital, located at the northeast corner of Interstate 10 and Sunshine Boulevard, will have eight inpatient rooms, an 11-room emergency department and a wide range of medical services. A groundbreaking ceremony will be held on Jan. 24, with a planned opening in late 2024.

December 18, 2023

Development Illinois Leasing Activity Midwest Retail

Pottery Barn to Open at Westfield Old Orchard Mall Redevelopment in Skokie, Illinois

by Kristin Harlow December 18, 2023

SKOKIE, ILL. — Home furnishing retailer Pottery Barn is relocating its store at Westfield Old Orchard, joining Arhaus, Puttshack and Zara in the former Lord & Taylor space set to open in summer 2024. Unibail-Rodamco-Westfield owns Westfield Old Orchard shopping mall, which is undergoing redevelopment. The center is set to welcome six new retailers over the next year. Jewelry brand Little Words Project and Canadian women’s fashion brand Aritzia are opening in December. Urban Outfitters is opening in January, and Italian intimates store Intimissimi is slated to open in the spring. Westfield Old Orchard will also welcome new dining options next year, including local all-day lounge Cupitol and Cafe Castemila, an independently owned café and bakery. The redevelopment of the former Lord & Taylor department store is part of a multi-phase plan at Westfield Old Orchard that was first announced in 2022. Plans also call for new residences, dining establishments, wellness facilities and outdoor amenities such as a public park and event space. More detailed plans will be unveiled in 2024.

December 18, 2023

Civic Development Florida Hospitality Mixed-Use Southeast

Balfour Beatty Tops Out Phase II of $1B Convention Center, Hotel Project in Fort Lauderdale

by John Nelson December 15, 2023

FORT LAUDERDALE, FLA. — Balfour Beatty has completed the vertical construction of the second phase of a $1 billion project to expand the Greater Fort Lauderdale/Broward County Convention Center in Fort Lauderdale. In addition to the 400,000-square-foot East Expansion Building, the phase includes the development of the 29-story, 801-room Omni Fort Lauderdale hotel. Upon completion, the East Expansion Building will comprise ballrooms, exhibit space and a kitchen to service the 1.5 million-square-foot convention center. Amenities at the hotel will include additional meeting and ballroom space, restaurants and a rooftop bar. Balfour Beatty is completing construction on behalf of the developer, Matthews Southwest. The project team also includes Nunzio Marc DeSantis Architects and Fentress Architects. Completion of the second phase is scheduled for late 2025.

December 15, 2023

Development Georgia Industrial Southeast

VanTrust Underway on 2 MSF Industrial Build-to-Suit Facility for Burlington Near Savannah

by John Nelson December 15, 2023

ELLABELL, GA. — VanTrust Real Estate is underway on the development of a 2 million-square-foot building within the 515-acre Interstate West industrial park in Ellabell, roughly 30 miles outside Savannah. Burlington Stores Inc. will occupy the build-to-suit property. Dubbed Building D, this marks the fourth and final project at the park, construction of which began in 2021. Buildings A and B span 637,868 and 992,000 square feet, respectively. Building C totals 1.2 million square feet and is leased to The Webstaurant Store Inc. Completion of Building D is scheduled for May 2025. Evans General Contractor is constructing the building, and Pieper O’Brien Herr is the architect. Danny Chase and David Sink of Colliers represented VanTrust in the lease negotiations. Chris Tomasulo and Bennett Rudder of JLL represented Burlington.

December 15, 2023

Development Multifamily Texas

Presidium Breaks Ground on 374-Unit Multifamily Project in North Austin

by Taylor Williams December 15, 2023

AUSTIN, TEXAS — Texas-based developer Presidium has broken ground on Presidium 183, a 374-unit multifamily project in North Austin. Designed by O’Brien Architects, Presidium 183 will offer several different floor plans, and units will be furnished with stainless steel appliances, quartz-style countertops and individual washers and dryers. Amenities will include a coworking lounge with private offices, fitness center with yoga and spin studios, a speakeasy-style bar, entertainment room with a theater and golf simulator, outdoor game lawn, pool and a dog run. Completion is slated for mid-2025.

December 15, 2023

Development Retail Texas

Costco to Open 154,648 SF Store at Grand at Aliana in Richmond, Texas

by Taylor Williams December 15, 2023

RICHMOND, TEXAS — Costco will open a 154,648-square-foot store at The Grand at Aliana, a 400,000-square-foot, 80-acre mixed-used development in the southwestern Houston suburb of Richmond. The Washington-based discount retailer purchased the 20-acre site on which the store will be located. The opening is slated for next summer. The store will be Costco’s 39th in Texas and third in the Houston area. Locally based developer NewQuest Properties owns The Grand at Aliana.

December 15, 2023

Development Mixed-Use Multifamily Nevada Restaurant Retail Western

Agora Realty Receives Financing for 73-Acre Hylo Park Mixed-Use Project in North Las Vegas, Nevada

by Amy Works December 15, 2023

NORTH LAS VEGAS, NEV. — Agora Realty & Management has received an undisclosed amount of financing for the development of Hylo Park, a 73-acre mixed-use project at the corner of Rancho Road and Lake Mead Boulevard in North Las Vegas. Construction is slated to begin in June 2024. The planned development includes entitlements for 1,300 residential units spanning a 37-acre residential component, a grocery-anchored retail center, restaurants and commercial services. The project will also include Champion Square, a sports village and public plaza. The sports-anchored center will serve the community and traveling teams. The center of Hylo Park will be a multi-purpose sports rink and separate field house. The development will anchor a community village featuring public space and an outdoor digital video screen for sports watch parties, as well as other local programming and events. The square will also include shops, restaurants and service-oriented retail in proximity to an extended-stay hotel. The city’s National Hockey League team, the Las Vegas Golden Knights, will provide management and programming for the existing ice arena at the property.

December 15, 2023

Arizona Colorado Development Industrial Multifamily Western

StarPoint Properties Plans Two Opportunity Zone Projects in Arizona, Colorado

by Amy Works December 15, 2023

MESA, ARIZ., AND DENVER — StarPoint Properties is developing two Opportunity Zone projects totaling $115 million. StarPoint has started vertical construction on Lotus Point, a $79.2 million multifamily development in Mesa, and Point Central, a $36.7 million industrial project in Denver. Located at 139 N. Dobson Road, the four-story Lotus Point will offer 245 apartments. The community will benefit from a property tax abatement agreement with the City of Mesa for eight years after construction, which will generate significant property tax savings. Point Central, located at 1051 and 1161 E. 73rd Ave. in Denver, will offer 157,473 rentable square feet split across two industrial buildings with access to Denver’s major highways. Completion of both properties is slated for 2025. StarPoint expects Lotus Point to be stabilized by fourth-quarter 2025 and Point Central by the second quarter of 2025.

December 15, 2023

Development Multifamily New Jersey Northeast

Partnership Breaks Ground on 477-Unit Multifamily Project in Jersey City

by Taylor Williams December 15, 2023

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 broken ground on a 477-unit multifamily project in Jersey City. 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. Completion is slated for summer 2026.

December 15, 2023

Development Massachusetts Multifamily Northeast Seniors Housing

Kisco Senior Living to Develop 159-Unit Complex in Boston

by Taylor Williams December 15, 2023

BOSTON — California-based owner-operator Kisco Senior Living will develop The Newbury at Brookline, a 159-unit complex that will be located on the west side of Boston. The site is located on the historic former Newbury College campus. The facility will ultimately comprise 81 independent living units, 38 assisted living residences and 40 memory care units via 190,000 square feet of new construction and 20,000 square feet of restoration to the historic Mitton House. The complex is scheduled to open next fall.

December 15, 2023

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