CYPRESS, TEXAS — Atlanta-based multifamily developer Wood Partners has opened Alta Cypress Springs, a 330-unit project located on the northwestern outskirts of Houston. Alta Cypress Springs features one-, two- and three-bedroom apartments that are furnished with stainless steel appliances, granite countertops, tile backsplashes and full-size washers and dryers. Amenities include a pool, fitness center, dog park, business center, clubroom and an outdoor kitchen. Texas-based Design Balance served as the project architect. Rents start at roughly $1,300 per month for a one-bedroom apartment, according to the property website.
SACRAMENTO, CALIF. — Ware Malcomb has completed construction a build-to-suit industrial warehouse located at 3755 Pell Circle in Sacramento. The company provided civil engineering, architecture and interior design services for the 92,000-square-foot building, which Mainline Sales owns. Mainline Sales is a full-service manufacturer’s representative serving the states of California, Nevada, Arizona and Hawaii. The single-story, concrete tilt-up facility features a hybrid panelized roof, warehouse and distribution spaces. Additionally, the building can accommodate two 3,600-square-foot office spaces. KPRS Construction Services provided general contracting services for the project.
DEKALB, ILL. — Meta, parent company of Facebook, has opened a new 1 million-square-foot data center at ChicagoWest Business Center in DeKalb, about 64 miles west of Chicago. The Meta property is adjacent to one of the recently announced Illinois MegaSites Investment Program projects. This site makes approximately 793 acres of additional land available at ChicagoWest Business Center that is ready for the next phase of development. ChicagoWest Business Center is home to other tenants such as Amazon, Ferrara and Kraft Heinz. Krusinski Construction Co. served as general contractor.
JERSEY CITY, N.J. — New York City-based developer Tishman Speyer has received a $300 million construction loan from Otera Capital for a 58-story multifamily tower in Jersey City. With financing in place, Tishman Speyer plans to begin construction later this month and deliver the building in early 2027. The property will be located at 55 Hudson St. along the Hudson River in the Paulus Hook neighborhood, less than a block from the Paulus Hook Pier, which offers ferry service to various New York City metro locations. Plans call for 1,017 units in one-, two- and three-bedroom floor plans. The building will also feature 75,000 square feet of indoor and outdoor amenities and 60,000 square feet of retail and restaurant space. The development of 55 Hudson will be followed by 50 Hudson, a 48-story apartment tower that will include comparable indoor and outdoor amenities. When completed, the two-building development will boast nearly 2,000 new apartments, over 70,000 square feet of retail space and a 32,000-square-foot waterfront plaza. The plaza, which will provide a direct connection to Jersey City’s esplanade, will be available for community events. The design team for the project includes Handel Architects, Marchetto Higgins Stieve Architects, landscape architects Hollander Design …
MCKINNEY, TEXAS — Texas-based developer Presidium will undertake a redevelopment project in McKinney, a northern suburb of Dallas, that will convert the 28-acre site of a former cotton mill and textile manufacturing facility that was built in 1910 into a mixed-unit development. Plans for Presidium Cotton Mill include approximately 1,200 multifamily units that will be housed across four buildings ranging in height from five to seven stories. The project will also feature 200,000 square feet of office space, as well as retail and restaurant space, open green space and a boutique hotel. Residential amenities will include pools, outdoor grilling and dining stations, fitness centers, coworking spaces, game rooms and lounge areas. The development team is aiming to break ground in mid-2024 and expects the entire project to take about six years to fully complete.
AUSTIN, TEXAS — A partnership between Atlanta-based developer NitNeil Partners and locally based investment firm Seamless Capital will develop a 923-unit self-storage facility in East Austin. The existing structure on the 1.5-acre site at 853 Airport Blvd. will be redeveloped into a facility that spans 112,000 gross square feet and 83,000 net rentable square feet of climate-controlled space. LifeStorage will operate the property. Completion is slated for late 2024.
CANTON, GA. — Madison Communities has broken ground on Madison Canton, a 252-unit multifamily community in Canton, roughly 40 miles north of Atlanta. Amenities at the property will include a clubhouse and fitness center, swimming pool, deck with grilling stations, dog park, dog wash and pickleball courts. Completion of the first units is scheduled for the second quarter of 2025. BenCo Construction, an affiliate of Madison Capital Group, will serve as general contractor for the project.
JACKSON, GA. — Waterloo Partners and ICM Asset Management have received $40 million in construction financing for the development of River Park 10, a speculative industrial project in Jackson, about 50 miles south of Atlanta via I-75. Upon completion, the property will total 825,000 square feet within the River Park E-Commerce Center master development. The joint venture acquired the site in September and plans to break ground immediately, with completion of construction scheduled for the third quarter of 2024. A syndication between Trustmark National Bank and Coastal State Bank provided the construction loan, and Sweld & Sweld provided joint venture equity. Patterson Real Estate Advisory Group arranged the financing on behalf of the borrowers.
MIAMI — Lionheart Capital, Leviathan Development and Well Duo will develop a new mixed-use project in Miami. Dubbed MIRAI Design District, the development is designed by Kengo Kuma and Associates (KKAA), marking the first mixed-use project in the country for the architectural firm. Upon completion, the property will comprise 15,500 square feet of ground-floor retail space across 17 units, with roughly 41,000 square feet of office space on the second and third floors. Construction is scheduled to begin in summer 2024, with completion anticipated by the end of 2025.
JERSEY CITY, N.J. — A partnership between locally based developer Fields Grade and New York City-based Alpine Residential has begun leasing Atlas, a 169-unit apartment complex located at 270 Johnston Ave. in Jersey City. The 24-story building houses studio, one-, two- and three-bedroom units as well as 9,000 square feet of retail space. Ten units are reserved as affordable housing. Amenities include a pool, fitness center, coworking spaces, outdoor grilling and dining areas, communal kitchen and a game room. MHS Architecture designed the project, and KL Masters Construction Co. served as the general contractor. Rents start at roughly $2,700 per month for a studio apartment.