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Development

Ray-Phoenix-Apts-Phoenix-AZ
ArizonaDevelopmentMultifamilyWestern

Ray, VeLa Development Partners Break Ground on 401-Unit Multifamily Tower in Phoenix

by Amy Works

PHOENIX — Ray and VeLa Development Partners, as co-developers, have broken ground on Ray Phoenix, a 26-story residential tower at 777 N. Central Ave. in Phoenix. Johnson Marklee & Associates, in partnership with Lamar Johnson Collaborative, designed the project, while Grace Fuller Marroquín of Grace Fuller Design conceived the landscape concept. Situated in the Roosevelt Row Arts District, Ray Phoenix will feature 401 residential units — 193 studios; 116 one-bedrooms, including den and duplex options; and 92 two-bedrooms, including duplex and penthouse options. Totaling 523,000 square feet, the building will feature a fitness center, yoga studio, resort-style pool, communal kitchen, fireplace lounge, sunken lounge with theater experience, dog wash stations, indoor and outdoor gardens and workspaces, as well as more than 4,500 square feet of ground-level retail space.

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The-Moran-CITYCENTRE-Houston
DevelopmentHospitalityTexas

Midway Underway on Renovation of 244-Room Hotel at CITYCENTRE in West Houston

by Taylor Williams

HOUSTON — Locally based developer Midway is underway on renovations of a 244-room hotel located within its CITYCENTRE mixed-use development in West Houston. The Moran CITYCENTRE was originally built in 2009. The renovation will deliver updated furnishings, premium bedding, contemporary lighting fixtures and technology enhancements to all rooms. In addition, the lobby, meeting and event spaces and amenity areas, including the fitness center and onsite bar, will all be upgraded. Work began at the beginning of the year and is expected to be complete this summer.

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Edged-Energy-Irving
Data CentersDevelopmentIndustrialTexas

Edged Energy Underway on 168,000 SF Data Center in Irving

by Taylor Williams

IRVING, TEXAS — An affiliate of Edged Energy, a global data center developer and operator whose U.S. headquarters is based in Connecticut, is underway on construction of a 168,000-square-foot facility at 505 N. Wildwood Drive in Irving. The data center will have a critical power capacity of 24 megawatts. Construction is scheduled for a fall completion. The facility is one of about a dozen in Edged Energy’s development pipeline across Europe and North America.

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Oaks-at-Covell-Edmond-Oklahoma
DevelopmentLoansMultifamilyTexas

IPA Arranges $13.1M in Equity Financing for Multifamily Project in Edmond, Oklahoma

by Taylor Williams

EDMOND, OKLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $13.1 million in joint venture equity financing for a multifamily project in Edmond, located just north of Oklahoma City. Oaks at Covell will comprise 102 townhomes in two-, three- and four-bedroom floor plans that will be located along I-35. Justin Shuart and Travis Headapohl of IPA worked on behalf of ACRE Development Partners to arrange the financing with an undisclosed partner.

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Turnpike-1-Trade-Center-Pilesgrove-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

NorthPoint Development Breaks Ground on 954,701 SF Industrial Project in Pilesgrove, New Jersey

by Taylor Williams

PILESGROVE, N.J. — Missouri-based NorthPoint Development has broken ground on a 954,701-square-foot industrial project in the Southern New Jersey community of Pilesgrove. Designed by studioNorth Architecture and built by Peak Construction Corp., the project represents the fourth building in the Turnpike 1 Trade Center development. Building features will include a clear height of 40 feet, 96 docks, four drive-in doors, 2,000 square feet of office space and parking for 536 cars and 244 trailers. Completion is scheduled for the fourth quarter.

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Affordable HousingDevelopmentMidwestMinnesotaMultifamily

Sherman Associates Completes $34M Affordable Housing Development in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Developer Sherman Associates has completed Ladder 260, a $34 million affordable housing development located at 260 Portland Ave. in the Mill District neighborhood of Minneapolis. Kraus-Anderson was the general contractor for the multi-phase project, which involved the redevelopment of an underutilized city block at Washington and Portland avenues. The first phase of the $161 million development involved a new $12 million fire station for the City of Minneapolis. The final phase, called O2, is a 22-story, 240-unit apartment tower that is slated for completion this fall. Designed by ESG Architects, Ladder 260 rises six stories with 90 units. Amenities include a fitness room, second-floor lounge, rooftop deck, bike storage and pet spa.

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DevelopmentIllinoisIndustrialMidwest

Northern Builders to Construct Two Industrial Build-to-Suits at Cherry Hill Business Park in Suburban Chicago

by Kristin Harlow

NEW LENOX AND JOLIET, ILL. — Northern Builders will serve as developer and general contractor for two industrial build-to-suits at Cherry Hill Business Park in New Lenox and Joliet. Agile Cold Storage will occupy a 202,759-square-foot facility on nearly 24 acres with expansion capabilities for an additional 150,000 square feet. The building is slated for completion in the second quarter of 2025. Illinois Truck Group (ITG) will utilize a 33,180-square-foot property as a truck maintenance and dealership facility. The project calls for nine maintenance bays, one wash bay, 5,000 square feet of office space and parking for 200 tractor cabs. Straddling both Joliet and New Lenox, Cherry Hill Business Park is located between I-55 and I-57 with immediate access to I-80 and I-355.

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Affordable HousingDevelopmentMichiganMidwestMultifamily

Cherry Health, Woda Cooper to Build 56-Unit Affordable Housing Community in Wyoming, Michigan

by Kristin Harlow

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. Inc. have partnered to build Shea Ravines, a 56-unit affordable housing community in Wyoming near Grand Rapids. Michigan State Housing Development Authority has awarded housing tax credits for the $18.2 million development. The project will be located at 2929 Burlingame Ave. SW adjacent to Cherry Health’s Wyoming Community Health Center. The four-story building will offer one- and two-bedroom units for residents who earn up to 80 percent of the area median income. Of the 56 units, 20 will be reserved for people battling homelessness. Amenities will include a multipurpose room, playground and bike storage.   The Grand Rapids Housing Commission has awarded project-based rental assistance vouchers to support the 20 units for homelessness. Community Rebuilders will serve as the lead service agency to coordinate supportive services to assist these residents. The project team includes architect Hooker DeJong Inc. Woda Construction Inc. is the general contractor and Woda Management & Real Estate LLC will perform leasing and property management services.

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Carr-Old-Town
DevelopmentMultifamilyOfficeSoutheastTop StoriesVirginia

Carr Properties Acquires Vacant Office Building for Multifamily Conversion in Alexandria, Virginia

by Katie Sloan

ALEXANDRIA, VA. — Carr Properties has acquired a vacant office building located at 901 N. Pitt St. in the Old Town neighborhood of Alexandria with plans to convert the property into a 250,000-square-foot multifamily community.  The site, which will be cleared to make way for the new development, is located roughly seven miles south of Washington, D.C., and 1.5 miles south of the former development site for Potomac Yards, a recently cancelled 9 million-square-foot mixed-use project.  The community will rise eight stories and feature 234 units in a variety of configurations, ranging from studio apartments to three-bedroom units. An unspecified number of units will be dedicated to affordable housing. The development will also include below-grade parking, 15,800 square feet of outdoor space, a performing arts venue and 7,000 square feet of ground-floor retail space.  Shared amenities are set to include an outdoor swimming pool and a resident lounge and amenity center. Carr Properties plans to break ground on the development this fall with completion slated for late 2026. The community will target LEED Silver certification.  The development team for the project includes SK+I Architecture and interior design firm Edit Lab by Streetsense, which partnered with Carr on its previous Union …

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SouthPark-183-Austin
DevelopmentIndustrialTexas

HLCI to Develop 246,310 SF Industrial Project in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop SouthPark 183, a 246,310-square-foot industrial project in Austin. The 19.1-acre site is located within an opportunity zone, approximately nine miles from downtown Austin and two miles from Austin-Bergstrom International Airport. HLCI acquired the land in December with plans to develop three shallow-bay buildings. Construction is scheduled to begin in the first quarter of next year.

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