Development

Woda Cooper, IMPACT Community Action Break Ground on 102-Unit Affordable Housing Community in Ohio

by Kristin Harlow September 1, 2023

WHITEHALL, OHIO — Woda Cooper Cos. Inc. and co-developer IMPACT Community Action have broken ground on The Enclave on Main, a 102-unit affordable housing community in Whitehall, an eastern suburb of Columbus. Located at 3540 E. Main St., the project will offer one-, two- and three-bedroom layouts. Units will be restricted for residents who earn 30 to 80 percent of the area median income. There will also be several units adapted for those with mobility challenges and sight or hearing disabilities. Amenities will include a community room with kitchenette and a management office for an onsite community manager. There will also be dedicated space for assisting residents with supportive services such as case management, workforce development and employment training, emergency assistance and financial literacy to be coordinated by IMPACT. The Ohio Housing Finance Agency (OHFA) provided a tax-exempt bond issuance and allocated 4 percent Low-Income Housing Tax Credits and soft funds to the development through its bond gap financing program. Alliant Capital invested in the tax credits to provide equity financing. CF Bank will provide a permanent mortgage and construction loan, through the purchase of the tax-exempt bonds issued by OHFA. Franklin County is providing an additional soft mortgage through …

September 1, 2023

Delaware Development Industrial Northeast

Agile Cold Storage to Open 275,000 SF Facility in Claymont, Delaware

by Taylor Williams September 1, 2023

CLAYMONT, DEL. — Georgia-based owner-operator Agile Cold Storage will open a 275,000-square-foot facility in Claymont, Del., about 25 miles southwest of Philadelphia. The site is located within First State Crossing, an industrial park that is a redevelopment of a former steel mill. Agile Cold Claymont is expected to create 130 new jobs and involve capital investment of more than $170 million over the next five years.

September 1, 2023

Development Multifamily New York Northeast

PAZ Management Begins Leasing 39-Unit Multifamily Project in Poughkeepsie, New York

by Taylor Williams September 1, 2023

POUGHKEEPSIE, N.Y. — Locally based developer PAZ Management has begun leasing The Flats at Raymond, a 39-unit multifamily project located north of New York City in Poughkeepsie. The property features one- and two-bedroom units ranging in size from 706 to 1,098 square feet. The Flats at Raymond is one of two complexes that comprise the first phase of a larger development known as The Arlington of Poughkeepsie. The second property, a 24-unit adaptive reuse project known as Lofts at The School, began welcoming residents earlier this year and is now 90 percent occupied. Rents at The Flats at Raymond start at $1,975 per month.

September 1, 2023

Development Industrial Mixed-Use Texas Top Stories

Joint Venture Breaks Ground on $250M New Hope Mixed-Use Project in Cedar Park, Texas

by Katie Sloan September 1, 2023

CEDAR PARK, TEXAS — A joint venture between three Austin-based real estate firms — Cordova Real Estate Ventures, Riverside and Live Oak — has broken ground on Phase I of New Hope, a $250 million mixed-use project located in the Austin suburb of Cedar Park. The first two phases of the project are being developed across six parcels on New Hope Drive. Phase I will include three Class A industrial buildings totaling 271,689 square feet. The second phase of development will include an additional 213,700 square feet of industrial space. The project is also set to include a 32-acre development named The District at New Hope. This portion of the project is still in design, but could include a mix of retail, entertainment, restaurant, hospitality, office space, and research-and-development space. A timeline for the development was not announced. The project team for New Hope includes Zapalac/Reed Construction Co., McFarland Architecture and Malone Wheeler. Live Oak will market and lease the project’s industrial space, and Travis Robertson with JLL has been tapped to handle leasing of retail and restaurant space. A number of industrial developments are currently underway in suburban Austin, including 5900 Ben White, an industrial project also by Riverside …

September 1, 2023

Development Healthcare Southeast Virginia

Cullinan Properties Delivers $100M Veterans Affairs Mental Health Clinic in Metro Tampa

by John Nelson August 31, 2023

TEMPLE TERRACE, FLA. — Cullinan Properties has completed the development of the U.S. Tampa Veterans Affairs (VA) Mental Health Clinic in Temple Terrace, roughly 10 miles outside of Tampa. Cullinan broke ground on the $100 million project in late 2021. The facility, which totals 150,000 square feet, will begin seeing patients in January 2024. Situated on 20 acres, the development features a 120,000-square-foot clinic, 265 consult rooms, 60 patient rooms, an activities courtyard, full-service kitchen, dining room and social activities room. The General Services Administration (GSA), along with the VA, selected the project team, including Hoar Construction and Leo A Daly as the general contractor and architect, respectively. Lincoln Harris is the facility manager.

August 31, 2023

Development Loans Multifamily North Carolina Southeast

FCP Provides $13.9M in Preferred Equity for Multifamily Development in Charlotte

by John Nelson August 31, 2023

CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit apartment community located along Garron Point Drive in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform, which has invested approximately $640 million to date. When complete, Easton at Mountain Island will be situated on nearly 20 acres near the Catawba River and Charlotte Douglas International Airport.

August 31, 2023

Delaware Development Industrial Loans Northeast

JLL Arranges $56.3M Construction Loan for Industrial Project in Claymont, Delaware

by Taylor Williams August 31, 2023

CLAYMONT, DEL. — JLL has arranged a $56.3 million construction loan for Tri-State Industrial, a 525,000-square-foot project that will be located about 25 miles outside of Philadelphia in Claymont, Delaware. The property will feature 40-foot clear heights, an ESFR sprinkler system, 130-foot truck court depths, four drive-in ramps with overhead doors and ample trailer and car parking. Chris Drew, Mike Pagniucci and Michael DiCosimo of JLL arranged the loan through Principal Asset Management on behalf of the borrower, a partnership between New York City-based KPR Centers and Los Angeles-based PCCP LLC.

August 31, 2023

Development Multifamily New York Northeast

Skyline Developers Breaks Ground on 97-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams August 31, 2023

NEW YORK CITY — New York City-based Skyline Developers has broken ground on a 97-unit multifamily project at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the building will rise 26 stories and span 152,000 square feet. Goldman Sachs Bank USA provided construction financing for the project, which is slated for a 2025 delivery. Information on floor plans and specific amenities was not disclosed.

August 31, 2023

Development Industrial Leasing Activity Massachusetts Northeast Office

Dacon Completes 30,000 SF Headquarters Project in Canton, Massachusetts

by Taylor Williams August 31, 2023

CANTON, MASS. — Massachusetts-based design-build firm Dacon has completed a 30,000-square-foot, build-to-suit headquarters project for healthy snack food provider 88 Acres in Canton, a southern suburb of Boston. The facility at 85 John Road, which allows the company to more than quintuple its production, features a quality control lab, R&D lab, production area, cooling room, warehouse, executive offices and conference rooms. Camber Development owns the building.

August 31, 2023

Development Midwest Multifamily Wisconsin

M&R Development Opens 2929 on Mayfair Luxury Apartment Complex in Suburban Milwaukee

by Kristin Harlow August 31, 2023

WAUWATOSA, WIS. — M&R Development has opened 2929 on Mayfair, a 258-unit luxury apartment complex in the Milwaukee suburb of Wauwatosa. M&R co-developed the project with Campbell Capital Group. RMK Management is the property manager. Located at 2929 N. Mayfair Road, the property is just down the street from The Mayfair Collection, a 69-acre mixed-use development. Illinois-based M&R has now opened three apartment communities in Wisconsin in the last three years. Units at 2929 on Mayfair range from 453 to 1,282 square feet. Monthly rents range from $1,250 to $2,610. A three-story clubhouse is at the center of the community with an adjoining courtyard and outdoor pool. The shared spaces include an entertainment kitchen, coffee bar, lounge, fitness center, yoga room, business center with private conference rooms and workstations, a pet washing station and package room. There is also a three-level parking garage with car wash and electric vehicle charging stations.

August 31, 2023

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