Development

McCarthy Building Cos. Completes 200,000 SF Patient Tower at Providence Cedars-Sinai Tarzana Medical Center

by Amy Works October 5, 2023

TARZANA, CALIF. — McCarthy Building Cos. has completed the construction of the Friese Family Tower, five-story patient tower at Providence Cedars-Sinai Tarzana Medical Center in Tarzana. The tower is named for the Daniel Friese family in recognition of their $50 million donation to the building’s construction. The 200,000-square-foot facility features 150 private patient rooms; an expanded emergency department; a pharmacy with a pneumatic tubing system; a pediatric unit with a playroom for younger patients and a dedicated room for adolescent patients; a cardiovascular unit; critical care unit; and a progressive care unit. The Friese Family Tower also features visitor waiting rooms on all levels and recliners and sleeper sofas in all patient rooms. Perkins & Will designed the facility, which McCarthy Building Cos. constructed.

October 5, 2023

Affordable Housing Development Loans Multifamily Washington Western

KeyBank Provides $14.6M Construction Loan for New Life Homes Affordable Project in Tacoma, Washington

by Amy Works October 5, 2023

TACOMA, WASH. — KeyBank Community Development Lending and Investment (CDLI) has provided $14.6 million in financing for the construction of New Life Homes, a 60-unit low-income housing project in Hilltop in Tacoma. The community is designated for individuals in recovery for substance abuse, those leaving the criminal justice system, formerly homeless persons, persons with disabilities and veterans earning no more than 30 percent or 50 percent of area median income. Shiloh Baptist Church, with Beacon Development Group as consultant, is sponsoring and developing New Life Homes. Shiloh Baptist Church, a historically Black church, wants to combat gentrification on Tacoma’s Hilltop neighborhood by transforming several of its parcels along the block of South I Street into affordable housing. With the assistance of Tacoma Housing Authority, the church has leveraged several public funding sources along with tax credits and traditional financing to construct New Life Homes. Believing In Myself Again (BIMA) Services will provide supportive services for tenants with a focus on creating opportunities for growth, education and skill development. Veterans Affairs will provide services for the Veterans Affairs Supportive Housing units and coordinate with BIMA. KeyBank CDLI provided a $14.6 million construction loan with LIHTC equity provided by National Equity Fund (NEF). …

October 5, 2023

Development Illinois Midwest Multifamily

Flaherty & Collins Breaks Ground on $65M Luxury Apartment Complex in East Peoria, Illinois

by Kristin Harlow October 5, 2023

EAST PEORIA, ILL. — Flaherty & Collins Properties has broken ground on Blutowne, a $65 million luxury apartment community in the Levee District of East Peoria, a city in central Illinois. The project includes two multifamily buildings that will be centrally located near the municipal building and public library. Plans call for 219 units, 10,000 square feet of commercial space and 276 parking spaces. Merchants Bank of Indiana provided financing for the project, which will be situated at 501 E. Washington St. Units will come in studio, one- and two-bedroom floor plans, with the average unit size being 898 square feet. Amenities will include a fitness facility, meeting space, saltwater pool and rooftop lounge. Flaherty & Collins expects to welcome the first residential and commercial tenants in spring 2025. The full build-out is slated for completion in fall 2025.

October 5, 2023

Development Florida Multifamily Southeast

Alliance Residential to Develop 311-Unit Prose Big Sky Apartments in Kissimmee, Florida

by John Nelson October 5, 2023

KISSIMMEE, FLA. — Alliance Residential Co. has purchased a 17-acre site at 2900 Big Sky Blvd. in Kissimmee for the development of Prose Big Sky, a 311-unit apartment community. The Arizona-based developer plans to welcome first residents by fall 2024. Prose Big Sky will feature one- and two-bedroom units ranging from 746 to 1,078 square feet in size. Community amenities will include a resident clubroom with a catering kitchen and entertainment lounge, business center with coworking spaces, concierge package system, a resort-style pool with sun shelf seating, fitness center and a dog park. Prose Big Sky is the newest of 10 Alliance Residential properties currently under construction or scheduled to break ground in Florida.

October 5, 2023

Development Mixed-Use North Carolina Restaurant Retail Southeast

Northwood Investors Signs Two Restaurant Tenants to Join Bowl at Ballantyne Project in Charlotte

by John Nelson October 5, 2023

CHARLOTTE, N.C. — Northwood Investors, along with affiliate firm Northwood Retail, has signed two new restaurant brands from Fox Restaurant Concepts to join the tenant roster at Bowl at Ballantyne, a mixed-use development on the south side of Charlotte. The concepts include North Italia, an Italian restaurant that will occupy 6,480 square feet, and Flower Child, a healthy restaurant chain that will occupy 3,555 square feet. The restaurants will be situated across Bowl Street from each other and will open in 2024. Other committed tenants include Olde Mecklenburg Brewery, Fly Kid Fly, Honeysuckle Gelato, Roosters, drybar and solidcore, among others. Situated within the 2,000-acre Ballantyne master-planned community, the Bowl will also include two residential towers and a concert venue called The Amp Ballantyne.

October 5, 2023

Development Georgia Net Lease Restaurant Retail Southeast

Halpern Enterprises Delivers Build-to-Suit Starbucks Restaurant in Byron, Georgia

by John Nelson October 5, 2023

BYRON, GA. — Halpern Enterprises Inc. has delivered a 2,600-square-foot build-to-suit Starbucks location at 321 N. Highway 49 N in Byron. The Seattle-based coffeehouse chain signed a 10-year net lease at the freestanding property, which is located near I-75 and Robins Air Force Base. Brad Oppenheimer, Caleb Adams and Cary Halpern of Halpern Enterprises teamed up to complete the project. In addition to Starbucks, the Atlanta-based developer has recently delivered three build-to-suit properties in the Southeast for The Learning Experience.

October 5, 2023

Development Florida Southeast Top Stories

TMRW Sports Group Tees Up 250,000 SF Virtual Team Golf Arena in Palm Beach, Florida

by Katie Sloan October 5, 2023

PALM BEACH GARDENS, FLA. — TMRW Sports Group has announced plans for a 250,000-square-foot arena development in Palm Beach Gardens. The project, dubbed SoFi Center, will be the home base for TGL, a new virtual team golf league led by a partnership between golfers Tiger Woods and Rory Mcllroy and sports executive Mike McCarley. The 1,500-seat complex will occupy 11 acres on the Palm Beach Gardens campus of Palm Beach State College. The arena will include a 75-foot high air-supported dome; a football-field sized playing surface with three sand bunkers; a 46-foot by 64-foot simulator screen; a short-game complex; and two plazas outside the venue for hosting pre-match activities. The TGL season, which commercial partner SoFi Technologies will present, is set to begin with a series of matches on primetime television in January 2024. To date, 12 PGA players have committed to playing in the TGL: Tiger Woods, Rory McIlroy, Jon Rahm, Collin Morikawa, Justin Thomas, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler and Billy Horschel. Six teams of three players will compete in 15 head-to-head matches, followed by semifinals and finals matches. Team names, brands, front office staff and assigned players will be unveiled …

October 5, 2023

Affordable Housing Development Multifamily South Carolina Southeast

Town of Hilton Head Island Selects OneStreet to Develop First Workforce Housing Community

by John Nelson October 4, 2023

HILTON HEAD ISLAND, S.C. — The Town of Hilton Head Island has awarded its request for proposal (RFP) for the island’s first ever workforce housing community to Atlanta-based OneStreet Residential. The project, preliminarily named Northpoint, will feature 150 to 170 workforce housing units and will be located on an 11-acre tract of town-owned land. The project is envisioned to house the caregivers, teachers, medical professionals and first responders who work on Hilton Head Island. At least half of the units will be reserved for households earning between 60 to 80 percent of the area median income (AMI). OneStreet Residential was selected as the town’s preferred development partner after months of deliberation by town staff and an advisory committee, which included tours of the developer’s projects in Atlanta. OneStreet will begin site due diligence, site planning, engineering and architectural renderings. The development agreement is expected to go before Hilton Head Town Council for a vote in early 2024, with the commitment to maintain the Northpoint community as workforce housing forever.

October 4, 2023

Development Florida Mixed-Use Multifamily Retail Southeast

Newrock Completes 11-Story Oaklyn Mixed-Use Tower in Broward County

by John Nelson October 4, 2023

OAKLAND PARK, FLA. — Newrock Partners has completed Oaklyn, an 11-story mixed-use tower located at 3333 N. Federal Highway in Oakland Park, a city in South Florida’s Broward County. The project comprises 274 apartments and 19,000 square feet of ground-level retail space. Managed by Bozzuto, Oaklyn’s residences comprise studio, one- and two-bedroom apartments spanning from 451 to 1,172 square feet. Rental rates begin at $1,850, according to the property website. Amenities include Oak Three, a rooftop experience with an indoor/outdoor lounge, entertainment kitchen, communal games, art activations, resort-style pool deck, hot tub, outdoor dining and kitchen areas with grilling stations and oversized day beds. Other amenities include podcast studios, maker spaces, an indoor/outdoor fitness center, dog spa and a dog park. The design-build team includes general contractor First Florida and architect Kobi Karp Architecture & Interior Design Inc.

October 4, 2023

Development Georgia Healthcare Southeast

Northside Hospital, Realty Trust Group Open 45,000 SF Medical Center in Snellville, Georgia

by John Nelson October 4, 2023

SNELLVILLE, GA. — Northside Hospital and Realty Trust Group (RTG) have opened a new 45,000-square-foot healthcare clinic in downtown Snellville, a suburb of Atlanta in Gwinnett County. RTG partnered with the Atlanta-based hospital system through the planning and development process, including land acquisition, zoning, design and construction phases. Northside is the operator of the two-story medical office, which features imaging, surgery and orthopedics services. Adjacent to the new medical center is a 7,500-squrae-foot sister building that houses an urgent care. The medical buildings are situated on a 4.6-acre site along Wisteria Drive within The Grove at Towne Center development.

October 4, 2023

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