Development

Related Urban, Tampa Housing Authority Break Ground on 234-Unit Mixed-Income Housing Project

by John Nelson May 23, 2024

TAMPA, FLA. — A public-private partnership between Related Urban Development Group, the Tampa Housing Authority and the City of Tampa has broken ground on Gallery at Rome Yards, an 11-story mixed-income housing project located south of Columbus Drive between Rome Avenue and the Hillsborough River. Eighty percent of the property’s 234 units will be reserved as affordable and workforce housing while the remaining 20 percent will be market-rate apartment homes. Additionally, five apartments on the ground level will be designated as live/work units designed with local artists and entrepreneurs in mind, complete with a storefronts and working areas. Amenities will include a fitness center, walking path with distance markers, workspace for students and remote workers, communal club room, dog park with a nearby dog wash area, ground-floor retail space and a workforce training/small business success center. Related Urban expects to complete Gallery at Rome Yards in December 2026. The property represents Phase I of the Rome Yards master plan, which is the redevelopment of a vacant 18-acre maintenance yard into nearly 1,000 apartments and 33,604 square feet of commercial space.

May 23, 2024

Development Restaurant Retail Southeast Tennessee

Partnership Begins Redevelopment of 30,000 SF Retail Property in Nashville

by John Nelson May 23, 2024

NASHVILLE, TENN. — A partnership between Hines and Cresset Partners has begun construction on the redevelopment of 429 Houston, a 30,000-square-foot industrial and mixed-use property in Nashville’s Wedgewood-Houston neighborhood. The partnership will transform the property, which Hines purchased in December 2019, into a retail destination with shops and restaurants. The redevelopment will include adding a large, wraparound outdoor patio, expanding the property’s square footage, installing new parking and building systems, executing site infrastructure and improving the property’s landscaping and hardscaping. Additionally, the partners have signed two new tenants — Bodega Taqueria y Tequila and Aba — that will open by mid-2025. Existing tenant Jackalope Brewing Co. will stay in its current 16,200-square-foot space at 429 Houston and remain open throughout the redevelopment.

May 23, 2024

Rockefeller-Group-Logistics-Center-at-Carneys-Point

Development Industrial New Jersey Northeast

Rockefeller Group Breaks Ground on 1.1 MSF Industrial Project in Carneys Point, New Jersey

by Taylor Williams May 23, 2024

CARNEYS POINT, N.J. — New York City-based Rockefeller Group has broken ground on an approximately 1.1 million-square-foot industrial project in Carneys Point, located across the Delaware River from Wilmington in Southern New Jersey. Rockefeller Group Logistics Center at Carneys Point will consist of two buildings, one totaling 596,443 square feet and the other spanning 530,000 square feet, on a 141-acre site. Building features will include clear heights of 40 feet and parking for 658 cars and 328 trailers. Sumitomo Mitsui Trust Bank provided $114.8 million in construction financing for the project, which is slated for an early 2025 delivery. M+H Architects designed the project, and FCL Builders is serving as the general contractor. CBRE has been tapped as the leasing agent.

May 23, 2024

Build-to-Rent Development Illinois Midwest Single-Family Rental

Redwood to Open 140-Unit Build-to-Rent Community in Aurora, Illinois, This Summer

by Kristin Harlow May 23, 2024

AURORA, ILL. — Redwood Living Inc. is nearing completion of Redwood Aurora, a 140-unit build-to-rent community in the Chicago suburb of Aurora. The single-story development will offer eight different floor plans ranging in size from 1,294 to 1,709 square feet. Each of the homes will feature two bedrooms, two bathrooms and a two-car garage. The property is located at 1241 Coffeeberry Lane near I-88. Monthly rents will start at $2,649. Redwood has developed more than 18,000 single-story apartment homes.

May 23, 2024

Development Illinois Midwest Retail

Cicero Construction Completes Build-out of Third Chicagoland HOTWORX Fitness Studio

by Kristin Harlow May 23, 2024

ELMHURST, ILL. — Cicero Construction Group has completed the build-out of a third HOTWORX fitness studio in metro Chicago. The newest studio is located at 100 N. Addison Ave. in Elmhurst. Previously, Cicero renovated spaces in Chicago’s River North neighborhood and in Naperville. Cicero’s scope of work at the Elmhurst facility included installing mechanicals, drywall, paint, flooring and the building of bathrooms and a lobby. The team also installed infrared saunas and an expansive list of exercise systems. Like the River North and Naperville locations, the Elmhurst studio is open and staffed 24 hours a day, seven days a week. It offers members a variety of virtual-instructed 30-minute Isometric (ISO) and 15-minute High Intensity Interval Training (HIIT) workouts inside infrared saunas. Semi-private sessions include Yoga, Pilates, ISO, Barre, Core, Buns, Cycle and Thunder Row.

May 23, 2024

California Development Mixed-Use Multifamily Retail Western

Simon to Develop Mixed-Use Project at Fashion Valley Shopping Center in San Diego

by Amy Works May 23, 2024

SAN DIEGO — Simon has announced plans for the development of a new mixed-use project at its Fashion Valley shopping center in San Diego. Upon completion, the redevelopment project will add 100,000 square feet of new retail space to the center, as well as new restaurants and an 850-unit, AMLI-branded apartment community. Construction is scheduled to begin in late 2025, with completion anticipated in late 2026. Fashion Valley recently underwent a multimillion-dollar capital improvement program and added brands Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. New tenants Celine, Christian Louboutin and Fendi have also signed leases at the property.

May 23, 2024

Development Multifamily Seniors Housing Washington Western

Koelsch Nears Completion of $93M Belle Harbour Seniors Housing Project in Bellevue, Washington

by Amy Works May 23, 2024

BELLEVUE, WASH. — Koelsch Communities has neared completion of Belle Harbour, a seniors housing community in Bellevue, a suburb of Seattle. The developer expects to open the $93 million project this summer. The campus comprises The Park at Belle Harbour, an assisted living community, and The Inn at Belle Harbour, a dedicated memory care community. Encompassing nearly three acres, the boutique campus features 145 suites across both buildings, with the assisted living community containing 73 private studios, one-bedroom and two-bedroom units. The memory care building has 72 suites ranging from private to shared and “neighborhood” options. The new campus follows the recent completion of University Village, a Koelsch community in Vancouver, approximately 180 miles south in the suburbs of Portland, Oregon. The $112 million development encompasses 13 acres and features 136 suites in its independent living community, The Park at University Village, and 101 suites in its assisted living community, The Inn at University Village. Additionally, The Park has 26 cottages comprised of one-, two- and three-bedroom homes. Resident move-ins began in late 2023 and the campus is currently more than 50 percent occupied. Koelsch Construction served as general contractor for both developments, with Shearer Construction as a partner on …

May 23, 2024

California Development Multifamily Student Housing Western

UC Santa Cruz, Redtree Partners Plan 400-Bed Residence Hall Development

by Amy Works May 23, 2024

SANTA CRUZ, CALIF. — A public-private partnership between The University of California (UC) Santa Cruz and Redtree Partners is set to break ground on a residence hall development. Santa Cruz is located in the Central Coast region. The community will be located on Delaware Avenue and will offer 400 beds for upper-division undergraduate students, along with units for 60 university employees. The student housing portion of the project will offer rents priced at 20 percent below market rate and the employee housing will be priced at approximately 5 percent below market rate. Seven employee units will meet the city’s affordable housing designation, and another 12 units will be available to moderate-income employees. The university will lease the units from owner and developer Redtree Partners upon completion. Construction is scheduled to begin this summer with completion planned for fall 2026.

May 23, 2024

Development Florida Mixed-Use Multifamily Office Retail Southeast Top Stories

Joint Venture Plans Mixed-Use Redevelopment of The Quay Shopping Center in Fort Lauderdale

by Katie Sloan May 23, 2024

FORT LAUDERDALE, FLA. — A joint venture between BH Group, PEBB Enterprises and Related Group is set to begin the mixed-use redevelopment of The Quay shopping center in the Harbordale neighborhood of Fort Lauderdale. The joint venture recently acquired the 73,000-square-foot center for $48.5 million. Located at 1515 SE 17th St., the property currently features restaurants, retail space, a marina and a two-story office building. Redevelopment plans for the seven-acre site include the addition of up to 361 residential units and 12,000 square feet of retail and restaurant space. The existing property will also undergo improvements that align with the new development. Amerant Bank provided financing for the acquisition of the property. The transaction closed on May 22. A timeline for the project was not announced, but additional details are expected to be released over the coming months. This development marks the third joint venture between BH Group, PEBB Enterprises and Related Group. The companies are also partnering on a major mixed-use redevelopment at 6600 North Military Trail, formerly an Office Depot headquarters, in Boca Raton. Miami-based BH Group is a development firm focused on luxury projects across South Florida. The company has experience in acquisition, construction, design, capital structuring and asset management. …

May 23, 2024

Development Industrial Texas

Harrison Street, PowerHouse Data Centers to Develop 946,000 SF Campus in Irving

by Taylor Williams May 22, 2024

IRVING, TEXAS — Chicago-based investment firm Harrison Street and PowerHouse Data Centers, a division of Virginia-based American Real Estate Partners, will develop a 946,000-square-foot campus in Irving. PowerHouse Irving will span 50 acres within the Las Colinas district and will consist of three buildings with a total power capacity of 200 megawatts. The site at 111 Customer Way is also situated adjacent to an existing Oncor substation. Construction is scheduled to begin in early 2025, with the first powered shell structure set to be delivered by late 2025.

May 22, 2024

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