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DevelopmentLoansMidwestMultifamilyWisconsin

PACE Loan Group Provides $8M in C-PACE Financing for Luxury Apartment Project in Eau Claire, Wisconsin

by Kristin Harlow

EAU CLAIRE, WIS. — PACE Loan Group has provided $8 million in C-PACE financing for The Washington, a 200-unit luxury apartment project to be built in Eau Claire, a city in western Wisconsin. The financing fills out the $41 million capital stack, which includes $20 million in debt and $13 million in equity. The three-building project will comprise a former managed care facility and two new ground-up buildings. The 10-acre site is located within two miles of the University of Wisconsin-Eau Claire and numerous healthcare facilities. The former managed care facility, which originally opened in 1937, will house amenities including a 2,000-square-foot commercial space on the first floor, rooftop deck, fitness center, clubroom, coworking space, media room, yoga studio, outdoor heated pool, dog park and dog washing station. It will also include 53 multifamily units. One of the new buildings will consist of 87 units; the other will feature 60 units. Both will have fitness centers, clubrooms, media rooms and underground parking. Construction will begin shortly and is slated for completion by September 2025. The PACE proceeds will be used to finance energy conservation and renewable energy measures. Qualifying projects include building envelope, Energy Star windows, high-efficiency HVAC, domestic hot …

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CPKC-Stadium-Kansas-City
CivicDevelopmentMidwestMissouriTop Stories

Kansas City Current Debuts $120M Women’s Soccer Stadium

by Taylor Williams

KANSAS CITY, MO. — The Kansas City Current of the National Women’s Soccer League (NWSL) has opened its $120 million home field, CPKC Stadium. The venue, which is located in the Berkeley Riverfront area along the Missouri River and seats 11,500 people, is the first soccer stadium in the world to be designed and built exclusively for women, according to the project team. Sports Business Journal reports the development of the stadium was privately financed by the team, although ownership eventually requested $6 million in state-issued tax credits to offset an escalated construction budget, according to the Kansas City Star. In April 2023, the Current announced that Canadian Pacific Kansas City, a railway operator whose U.S headquarters is located in Kansas City, had acquired the naming rights to the stadium as part of a 10-year deal. A host of Kansas City-based firms contributed to the design and delivery of the stadium, and many of these companies have design, engineering and construction teams that are led by women. They include: “Our vision was to create a player-first experience while equally prioritizing fans,” say Angie and Chris Long, founders and co-owners of the Kansas City Current. “Not only did our Kansas City-based …

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DevelopmentFloridaMixed-UseSoutheast

Partnership Breaks Ground on 5.6-Acre FAT Village Mixed-Use Development in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — A partnership comprising Hines, Urban Street Development, Cresset Real Estate, Las Americas, Hudson Capital and Halmos Holdings has broken ground on FAT Village, a 5.6-acre mixed-use project in Fort Lauderdale. FAT stands for “Food Art Technology.” The first phase, which is scheduled for completion in 2027, will feature 74,000 square feet of retail space, in addition to 601 apartments and 180,000 square feet of mass-timber office space dubbed T3 (Timber, Transit and Technology). FAT Village’s second phase will be developed upon completion of the first. In total, the project will comprise 850 residential units and more than 80,000 square feet of retail space, as well as a 1,200-space commercial parking structure. Hines received a $220 million construction loan for the development in December 2023.

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Affordable HousingDevelopmentGeorgiaMixed-UseMultifamilySoutheast

Culdesac, Urban Oasis to Develop 20-Acre Murphy Crossing Project in Atlanta

by John Nelson

ATLANTA — Culdesac Inc. and Urban Oasis Development will develop the Murphy Crossing mixed-use redevelopment in Atlanta’s Oakland City neighborhood, following approval by Atlanta BeltLine Inc. (ABI) and Invest Atlanta, the City of Atlanta’s economic development arm. Located at 1050 Murphy Ave., the project will span 20 acres and feature 1,100 residential units, as well as commercial space, light industrial space and amenities. Of the residential units, 30 percent will be designated as affordable housing for residents earning 60 to 80 percent of the area median income (AMI). Additionally, a portion of the commercial and industrial space will be offered at an affordable rate to small businesses, with small business retail tenants eligible for one-time business grants. Upon completion, the development, which is situated adjacent to the BeltLine’s Westside Trail and near the Oakland City and West End MARTA stations, will feature plazas, courtyards, green space, paths, bike lanes and a community garden. A development timeline was not disclosed.

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DevelopmentGeorgiaHealthcareSoutheast

Hoar Begins Construction on $18.3M Hospital Expansion, Renovation in Cordele, Georgia

by John Nelson

CORDELE, GA. — Hoar Construction has broken ground on the expansion and renovation of Crisp Regional Hospital in Cordele, about 66 miles south of Macon via I-75. Completion of the $18.3 million project is scheduled for August 2025. Plans include the addition of 15,000 square feet across two stories, including 7,500 square feet of operating suite space. Renovations will also include updates to the hospital’s existing administration, post-operation and entrance and waiting room spaces. The project team includes architect CDH Partners, program manager Impact Development Management, structural engineer Walter P. Moore, civil engineer Columbia Engineering and MEP engineer NBP Engineers.

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1115-Dragonfly-Ave.-Weslaco
DevelopmentIndustrialSelf-StorageTexas

Bakke, Batson-Cook Break Ground on 773-Unit Self-Storage Facility in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on a 773-unit self-storage facility in the Rio Grande Valley city of Weslaco. The site at 1115 Dragonfly Ave. spans 2.6 acres, and the building will rise three stories and span 86,975 net rentable square feet. Project partners include Alamo Architects, civil engineer Halff, general contractor Independent Contractors and construction lender IBC Bank. Completion is slated for the first quarter of 2025. The project marks the sixth self-storage collaboration between the two firms.

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Sunridge-Industrial-Park-Wilmer
DevelopmentIndustrialTexas

Stonemont Financial Completes 565,259 SF Sunridge Industrial Park in Wilmer, Texas

by Taylor Williams

WILMER, TEXAS — Atlanta-based development and investment firm Stonemont Financial Group has completed Sunridge Industrial Park, a 565,259-square-foot development located in the southern Dallas suburb of Wilmer. The building features 40-foot clear heights, 128 dock doors, four drive-in ramps and parking for 135 trucks and 309 cars, with the capacity to add more parking if needed. LGE Design Build served as the project architect and general contractor. KBC Advisors is the leasing agent.

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DevelopmentMultifamilyNortheastPennsylvania

Milhaus, BAM Capital to Develop 272-Unit Multifamily Project Near Pittsburgh

by Taylor Williams

ROBINSON TOWNSHIP, PA. — A partnership between two Indiana-based firms, developer Milhaus and investment firm BAM Capital, will develop a 272-unit multifamily project just west of Pittsburgh in Robinson Township. Known as Nox Living, the property will feature studio, one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, coworking space, resident lounge and outdoor grilling and dining stations. The development team expects to begin construction by July and is aiming to deliver the first units by late 2025.

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DevelopmentIndustrialMassachusettsNortheast

Polar Design Build Delivers 34,000 SF Truck Service Facility in Middleton, Massachusetts

by Taylor Williams

MIDDLETON, MASS. — Locally based general contractor Polar Design Build has delivered a 34,000-square-foot truck service facility in Middleton, a northern suburb of Boston. The facility is a build-to-suit for dealer Kenworth Northeast and will house offices, service bays and showroom space. About 40 people will work at the facility at full operation. Other project partners included Maugel DeStefano Architects, Flood Consulting and CBC Engineers.

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Terraces-Walnut-CA
Build-to-RentCaliforniaDevelopmentMixed-UseMultifamilyRetailSingle-Family RentalWestern

Sunjoint Development Starts Construction of 49-Acre Residential, Retail Project in Walnut, California

by Amy Works

WALNUT, CALIF. — Sunjoint Development has started construction of Terraces at Walnut, a 49-acre mixed-use development located on Valley Boulevard in Walnut, approximately 25 miles east of downtown Los Angeles. Construction of the first product type, single-family homes, began in November 2023 and the first five phases are currently being made available for sale. The remaining homes will be built in phases — townhomes, three-story homes and estate lots. Full buildout is slated for year-end 2025. KTGY designed the project, which CBC Home is building. Terraces at Walnut will feature 79 townhomes, 211 detached single-family homes and 17,052 square feet of retail space. The three- and four-bedroom townhomes will range from 1,548 square feet to 1,914 square feet, while the single-family homes will offer three- or four-bedroom layouts ranging from 2,198 square feet to 3,561 square feet. The retail space will include a variety of food users, including dine-in restaurants, specialty retailers and beverage users. Terraces at Walnut will also feature 11 pocket parks and an internal trail system. Blake Kaplan, Erik Westedt and Drew Olson of JLL are overseeing leasing of the retail space.

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