SAN ANTONIO — A partnership between OCI Development, an affiliate of Atlantic Pacific Cos. and Opportunity Home San Antonio has broken ground on Vista at Reed, a 56-unit affordable housing project on the city’s west side. Vista at Reed will feature two- and three-bedroom units. Rental prices will range from $398 to $1,380, and 55 units will be set aside for residents earning up to 60 percent of the area median income. Residents will have access to various social services including financial literacy and health awareness classes. PNC Bank provided construction financing for the project, completion of which is slated for early 2025.
HOUSTON — Holey Moley Golf has opened an 12,166-square-foot venue at 3839 Weslayan St. in the Greenway/Upper Kirby area of West Houston. The space houses three nine-hole minigolf courses, two private karaoke rooms and a full-service bar and restaurant that can accommodate more than 100 guests. The venue is the third nationally for Holey Moley, which also operates venues in San Francisco and Denver. Australia-based Funlab owns the concept.
SPARKS, NEV. — Berkadia has arranged $11.5 million in joint venture equity for Five Ridges, a townhome-style build-to-rent development in Sparks, just east of Reno. Leggera Development is the developer for the project. Situated on 6.1 acres at 545 Highland Ranch Parkway, Five Ridges features 83 three-bedroom/2.5-bath units ranging in size from 1,494 square feet to 1,969 square feet. The community is situated within a 422-acre master-planned community comprising 1,246 residential units across 10 villages, including single-family detached homes, townhomes, multifamily, commercial properties, and two community parks with 100 acres of open space and 10 acres of amenitized community gathering areas. Cody Kirkpatrick, Chinmay Bhatt and Noam Franklin of Berkadia JV Equity & Structured Capital, along with Jared Glover of Investment Sales at Berkadia Nevada, represented Leggera Development. Berkadia arranged the equity through a global investment manager.
LEWISVILLE, TEXAS — Locally based developer JPI has broken ground on Jefferson Castle Hills, a 761-unit multifamily project that will be located within the 2,900-acre Castle Hills master-planned development in the northern Dallas suburb of Lewisville. Bright Realty owns Castle Hills. Designed by Preston Partnership, Jefferson Castle Hills will be developed in two phases and will offer one-, two- and three-bedroom units. Residences will be equipped with stainless steel appliances, walk-in closets, individual washers and dryers and private yards or balconies. Amenities will include a pool, fitness center, dog park, private courtyards and dedicated parking garages. Construction of Phase I is slated for a fourth-quarter 2025 delivery.
FORT WORTH, TEXAS — The Gettys Group Cos., a Chicago-based hotel design and development firm, has completed the $50 million renovation of the 403-room Sheraton Fort Worth Downtown Hotel. The hotel originally opened in 1974. The capital improvement program upgraded all the bedding, furniture and bathrooms of all guestrooms and expanded the number of suites from 25 to 37. In addition, the project team upgraded the entryway, lobby and amenity spaces, which include private and conference-style workspaces and 30,000 square feet of event space. Lastly, ownership introduced a revamped lineup of food-and-beverage offerings. Dallas-based HKS Architects designed the renovation, and an entity doing business as 1701 Commerce Acquisitions owns the hotel.
LEANDER, TEXAS — Minneapolis-based developer Ryan Cos. has begun leasing Oak House Apartments, a 347-unit multifamily community located north of Austin in Leander. Oak House consists of 10 buildings that house one-, two- and three-bedroom units on a 20-acre site. Amenities include a pool, fitness center, outdoor grilling and dining areas, clubroom, coffee bar and a dog park. Ryan Cos. developed the property in a joint venture with Denver-based Brue Baukol Capital Partners. Dallas-based Humphreys & Partners Architects designed the project, and Cadence McShane Construction served as the general contractor. First Horizon Bank provided construction financing. Rents start at $1,300 per month for a one-bedroom apartment. The first move-ins will begin this summer.
NORTHLAKE, TEXAS — The Dallas Stars professional hockey team will develop a 225,000-square-foot multi-sport training facility in Northlake, located north of Fort Worth. According to D Magazine, the project is valued at $45 million. Scheduled to open in 2025, the facility will feature two National Hockey League (NHL) regulation sheets of ice and eight basketball courts that can be converted to 16 volleyball courts. Lee Lewis Construction Inc. is the general contractor for the project, which will be the third of its kind for the Stars, joining facilities in Farmers Branch and Lewisville, Texas.
WEBSTER, N.Y. — The Coca-Cola Co. (NYSE: KO) has broken ground on a $650 million production facility for its dairy brand Fairlife in the Central New York community of Webster, located just west of Rochester. About 250 people are expected to work at the 745,000-square-foot facility, which will source from local milk co-operatives to produce its line of dairy-based beverages before distributing them to retailers across the region. Completion is slated for the fourth quarter of 2025. Empire State Development provided $21 million in assistance for the project through the performance-based Excelsior Jobs Tax Credit Program in exchange for job creation commitments. The Atlanta-based soft drink giant acquired Fairlife in 2020.
REVERE, MASS. — A partnership between National Real Estate Advisors, Cathexis and The HYM Investment Group has begun leasing Amaya, a 475-unit multifamily project located in the northeastern Boston suburb of Revere. Designed by ICON Architecture, the project is part of the redevelopment of the 161-acre former Suffolk Downs racetrack and houses 24,000 square feet of ground-floor retail space. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, landscaped courtyards, an outdoor kitchen with grilling stations, fitness center and a game room with an arcade. Ullico, a Washington, D.C.-based insurance company, financed construction of the project. Rents start at roughly $2,400 per month for a studio apartment.
NASHUA, N.H. — Can-One USA has opened a 180,000-square-foot beverage container manufacturing plant in Nashua, located near the New Hampshire-Massachusetts border. The facility will provide cans for an array of beverage types, including beer, soft drinks, juices and sparkling waters, allowing the company to reach production outputs of more than 2 billion aluminum beverage cans annually. Locally based design-build firm PROCON handled architectural and general contracting duties for the project. The Kane Co. developed the property.