SAN ANTONIO — Denver-based owner-operator H5 Data Centers will undertake an expansion project at its San Antonio campus, which is located at 100 Taylor St. in the downtown area. The expansion will add turnkey colocation space that can support an additional 340 cabinets and up to 1.5 megawatts of additional power capacity. A construction timeline was not disclosed. The campus currently consists of two buildings totaling 85,000 square feet.
ARLINGTON HEIGHTS, ILL. — Housing Trust Group (HTG) has opened Crescent Place, an $18.2 million affordable housing community in the Chicago suburb of Arlington Heights. The community marks HTG’s entry into the Illinois market. HTG developed the property in partnership with nonprofit developer Turnstone Development Corp. Crescent Place offers 40 units that are reserved for residents who earn up to 60 percent of the area median income. Monthly rents range from $621 to $1,489, while units range from 646 to 880 square feet. Amenities at the four-story development include a community room, library, computer café, fitness room, resident garden, outdoor patio, tenant storage compartments, bicycle storage and 80 outdoor parking spaces. Funding for Crescent Place included a $10.9 million construction loan and a $1.6 million permanent loan from BMO Harris Bank; $12.1 million in 9 percent Low Income Housing Tax Credit equity from National Equity Fund; $4 million from the COVID-19 Affordable Housing Grant Program provided by the Illinois Housing Development Authority; and a $110,214 ComEd grant for building according to Energy Star efficient standards. The project team included general contractor Henry Bros Co., civil engineer Groundwork, landscape architect Krogstad Land Design, architect UrbanWorks Architecture, interior designer Frosolone Interiors, …
SOUTHLAKE, TEXAS — A partnership between Constellation Real Estate Partners and Northwestern Mutual has acquired 33.7 acres in Southlake, located just outside the Dallas-Fort Worth International Airport campus, for the development of a 546,330-square-foot industrial project. Designed by Dallas-based Meinhardt & Associates, Constellation Mustang Crossing will comprise four buildings that will range in size from 102,957 to 188,132 square feet. Building features will include 28- to 32-foot clear heights, ESFR sprinkler systems and LED lighting. Joey Tyner and Tom Dosch of Dosch Marshall Real Estate represented Constellation in its purchase of the land. JLL will market the project for lease. Construction is scheduled to begin in the first quarter of next year and to last about 12 months.
DAYTON, TEXAS — OmniSource LLC, a subsidiary of Steel Dynamics, has acquired 55 acres within Gulf Inland Logistics Park, a 2,400-acre master-planned development located in the northeastern Houston suburb of Dayton, with plans to construct a new recycling facility. John Littman, Kelley Parker III and Coe Parker of Cushman & Wakefield represented the seller, Liberty Development Partners, in the disposition of the land. Michael Keegan and Andrew Laycock of Partners Real Estate represented OmniSource. A construction timeline was not disclosed.
CYPRESS, TEXAS — Fort Worth-based owner-operator Trademark Property Co. has purchased 37 acres in the northwestern Houston suburb of Cypress for the construction of a mixed-use project. The site is located within the 1,300-acre Dunham Pointe master-planned development, and preliminary plans for the project call for 225,000 square feet of retail, restaurant and entertainment space and 500 apartments. Trademark plans to start construction in the second quarter of 2025 and open the development in late 2026 or early 2027.
MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners is nearing completion of Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The site is located near Good Samaritan Hospital — Suffern, as well as numerous commercial establishments. The property will span 133,675 square feet and will feature one- and two-bedroom units with an average size of 500 square feet, as well as an array of entertainment- and wellness-based amenities. H2M Architects + Engineers designed the project, and McAlpine Contracting is handling construction. M&T Bank provided a $34.8 million construction loan for the project, completion of which is scheduled for next year.
MARLBOROUGH, MASS. — Locally based general contractor and construction management firm W.T. Rich has broken ground on a 17,000-square-foot academic building in the western Boston suburb of Marlborough. Designed by Finegold Alexander Architects, the project is a build-to-suit for Advanced Math & Science Academy Charter School and will house classroom and lab space. A completion date was not disclosed.
CAPE CORAL, FLA. — A partnership comprising Shoreham Capital, Bridge Investment Group and Wynkoop Financial has broken ground on Siesta Lakes, a 412-unit apartment community in Cape Coral, a city in southwest Florida near Fort Myers. The property will include one-, two- and three-bedroom floor plans with high-end finishes and private balconies with views of a private lagoon. The ownership group, which purchased the 26-acre site within an opportunity zone at 186-264 Tierra De Pa Loop in July 2022, recently secured a $66 million construction loan for the project. The development team has also selected Curran Young Construction as general contractor for Siesta Lakes, which is estimated for completion in second-quarter 2025.
ATLANTA — Alliance Residential Co. has opened Broadstone 2Thirty, a 278-unit apartment community located at 230 Martin Luther King Drive SE in downtown Atlanta’s Oakland neighborhood. Situated near Grant Park, Historic Oakland Cemetery and the Atlanta BeltLine, Broadstone 2Thirty features a mix of studio, one-, two- and three-bedroom apartments averaging 790 square feet in size. Amenities include a rooftop resort-style pool and a clubroom with a game parlor, ride share waiting area, private focus rooms and a modern fitness center. Dynamik Design was the architect for the project, and Alliance Residential served as the general contractor. Monthly rental rates at Broadstone 2Thirty range from $1,590 to $3,185, according to the property website.
LOS ANGELES — Gaw Capital USA and DJM have completed the three-year, $100 million renovation and rebranding of Hollywood & Highland to open Ovation Hollywood, located footsteps from the TCL Chinese Theatre and Hollywood Walk of Fame. The re-imagined, 475,000-square-foot property now features a variety of restaurants, entertainment venues and retailers. Current tenants include Café de Leche, Tacos Neza, a Kylie Cosmetics by Kylie Jenner pop-up shop, The Win-Dow and BOPOMOFO, with more retailers and restaurants on the way. Additionally, Ovation Hollywood’s fourth floor has been converted for entertainment and offers comedy club Kookaburrra Lounge and a soon-to-be-announced entertainment concept new to Los Angeles. The makeover included the demolition of the controversial Babylonian-themed archway and oversized elephant statues, which made way for new public art space, an open courtyard and landscaping.