Development

Hoffman, ESL to Develop 15-Story Seniors Housing Project at West Falls Development in Northern Virginia

by John Nelson November 15, 2023

FALLS CHURCH, VA. — Hoffman & Associates and Experience Senior Living (ESL) plan to co-develop The Reserve at Falls Church, a 15-story seniors housing project within the 10-acre West Falls mixed-use development underway in Northern Virginia. The Reserve will feature more than 200 units of independent living, assisted living and memory care residences. Amenities will include a spa with a saltwater pool and fitness center, multiple onsite restaurants, a sky bar, maker space, concierge floors and electric vehicle transportation services. Aside from the seniors housing component, West Falls will feature apartments, condominiums, shops, restaurants, service retailers, a hotel and a medical office building, along with a central 18,000-square-foot outdoor community gathering space. Hoffman and ESL aim to open The Reserve in fourth-quarter 2026.

November 15, 2023

Development Mixed-Use New York Northeast

Mets Owner Steve Cohen to Develop $8B Sports-Anchored Entertainment District in Queens

by Taylor Williams November 15, 2023

NEW YORK CITY — Steve Cohen, owner of the New York Mets baseball team, will develop Metropolitan Park, an $8 billion sports-anchored entertainment district in Queens. The development will occupy the 50 acres surrounding the team’s ballpark, Citi Field. The land is currently vacant. Plans for the project include a food hall, an entertainment complex including a Hard Rock hotel, live music venue and gaming, 20 acres of open green space, five acres of community athletic fields and playgrounds, new connections to the waterfront, a renovated mass transit station and improved roads, bike paths and parking infrastructure. Hard Rock International will partner with Cohen for the development, and the project team includes SHoP Architects, landscape architect Field Operations and design and construction firm McKissack. Metropolitan Park is expected to create roughly 15,000 permanent and construction jobs, according to Hard Rock. A construction timeline was not disclosed.

November 15, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

Katz & Associates Signs 120,000 SF of Retail Leases at Solar-Powered Mixed-Use Development in South Florida

by John Nelson November 15, 2023

BABCOCK RANCH, FLA. — Katz & Associates has signed several retail tenants to leases totaling more than 120,000 square feet at Babcock Ranch, a solar-powered mixed-use community currently underway in South Florida. The project is entitled for 6 million square feet of commercial space, in addition to residences. Jon Cashion and Eric Spritz of Katz & Associates represented the landlord and developer, Kitson & Partners, in the lease negotiations. Upon completion, the development will feature 4 million square feet of retail space, including shopping centers The Shoppes at Yellow Pine and Crescent B Commons. Marshalls, Ace Hardware, Five Below, Oar & Iron, Tipsy Salonbar, Fountain Pools, Seymour Orthodontics, Yummy Thai & Chinese, Verizon Wireless, Papa John’s Pizza, Carvel and Laser Lounge will occupy space at The Shoppes at Yellow Pine. Starbucks Coffee, Fifth Third Bank and Fiore + Ela Salon recently signed leases at Crescent B Commons. A total of 24 retail tenants have now signed leases at Babcock Ranch. The Shoppes at Yellow Pine, which will comprise 120,000 square feet, is scheduled for completion in the first quarter of 2025, with retailer openings scheduled to begin early that year.

November 15, 2023

Development Mixed-Use New York Northeast

Simone Development to Undertake 1.8 MSF Expansion of Hutchinson Metro Center in The Bronx

by Taylor Williams November 15, 2023

NEW YORK CITY — Locally based firm Simone Development Cos. will undertake a 1.8 million-square-foot expansion of Hutchinson Metro Center, a mixed-use development located in the Morris Park neighborhood of The Bronx. Specific plans for the expansion are still being finalized, but the development can support additional life sciences, technology, healthcare and academic space, as well as hospitality, housing and retail uses. Upon completion, Hutchinson Metro Center will consist of more than 4 million square feet across 75 acres.

November 15, 2023

Development Industrial North Carolina Office Southeast

Swinerton to Construct $21M Build-to-Suit Flex Facility in Metro Raleigh

by John Nelson November 15, 2023

RALEIGH, N.C. — Swinerton will serve as the design coordinator and general contractor for a $21 million build-to-suit office and industrial facility south of Raleigh. The location of the 75,000-square-foot development and name of the tenant, a Fortune 150 electrical utilities provider, were not disclosed. Set to open on a 33-acre site in spring 2025, the project will comprise a 45,000-square-foot, single-story mobile substation storage facility and a 30,000-square-foot command center that will feature eight office spaces and four large collaboration areas.

November 15, 2023

Development Florida Retail Southeast

Sembler Completes $13.3M Redevelopment of Publix-Anchored Shopping Center in Metro Tampa

by John Nelson November 15, 2023

SPRING HILL, FLA. — The Sembler Co. has completed the $13.3 million redevelopment of Hernando West Plaza, a Publix-anchored shopping center in Spring Hill, approximately 35 miles northwest of Tampa. Publix closed its store at the center last December to make way for its new 45,000-square-foot store, which opened earlier this month. Originally built in 1980 along U.S. Highway 19, Hernando West Plaza features 54,800 square feet of inline retail space in addition to the Publix store, as well as 3,200 square feet of small shop space and an outparcel. The center is 94 percent leased to tenants including Beall’s Outlet, AAA Auto Club, Little Caesar’s, Miracle Ear and other soft goods, dining and service retailers. Forge Real Estate Partners IV, a joint venture between Sembler and Forge Capital Partners, has owned the center since 2020.

November 15, 2023

Development New York Northeast Retail

MediaPro North America Breaks Ground on Production Studio in Yonkers, New York

by Taylor Williams November 15, 2023

YONKERS, N.Y. — MediaPro North America, a provider of Spanish programming, in partnership with Great Point Media, has broken ground on a new film and entertainment production studio at 1500 N. Broadway in Yonkers, a northern suburb of New York City. The campus will feature three sound stages totaling 20,000 square feet, as well as post-production facilities and other amenities to support a range of media production and entertainment endeavors. First Citizens Bank provided construction financing for the project. Completion is slated for next fall.

November 15, 2023

Development Multifamily Northeast Pennsylvania

Dwight City Group Completes 84-Unit Multifamily Adaptive Reuse Project in Upper Darby, Pennsylvania

by Taylor Williams November 15, 2023

UPPER DARBY, PA. — Dwight City Group, the investment arm of New York City-based lender Dwight Capital, has completed a multifamily adaptive reuse project in Upper Darby, a western suburb of Philadelphia. The project converted a 125,000-square-foot warehouse at 901 Quarry St. that was constructed in 1925 and had been dormant for three decades into an 84-unit apartment complex. The complex now features one- and two-bedroom units and amenities such as a playground and dog park. Rents start at roughly $1,500 per month for a one-bedroom apartment.

November 15, 2023

Development Industrial Midwest Missouri

Vertical Cold Storage Breaks Ground on 300,000 SF Facility in Kansas City

by Kristin Harlow November 15, 2023

KANSAS CITY, MO. — Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, has broken ground on a 300,000-square-foot facility in south Kansas City. The facility is scheduled to be operational by the end of 2024 and employ up to 130 full-time team members. The project site is located adjacent to the CPKC intermodal terminal. The property will offer roughly 50,000 pallet positions, blast freezing technology and four rooms convertible to -20 degrees Fahrenheit. Primus Builders is the general contractor.

November 15, 2023

Development Multifamily Oregon Student Housing Western

CRG, Kenter Capital Break Ground on 302-Bed Chapter at Eugene Student Housing Development Near University of Oregon

by Amy Works November 15, 2023

EUGENE, ORE. — A joint venture between CRG and Kenter Capital has broken ground on Chapter at Eugene, a 302-bed development located near the University of Oregon campus in Eugene. The project is scheduled for completion in September 2024. Upon completion, the community will offer 119 units in a mix of studio, two-, three-, four- and five-bedroom configurations. Units will feature bed-to-bath parity, contemporary furniture and smart televisions. Shared amenities are set to include a 5,000-square-foot rooftop deck with a dog run; dining areas and fire pits; a 12th-floor lounge with a demonstration kitchen and study rooms; state-of-the-art fitness center and yoga room; resident storage; and a coffee lounge. The community will also offer 50 parking spaces and bicycle storage. The development team for the project includes Jackson Main Architecture and John Hyland Construction Inc. Pre-leasing for the property is currently underway.

November 15, 2023

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