Development

Cullinan Properties Delivers $100M Veterans Affairs Mental Health Clinic in Metro Tampa

by John Nelson August 31, 2023

TEMPLE TERRACE, FLA. — Cullinan Properties has completed the development of the U.S. Tampa Veterans Affairs (VA) Mental Health Clinic in Temple Terrace, roughly 10 miles outside of Tampa. Cullinan broke ground on the $100 million project in late 2021. The facility, which totals 150,000 square feet, will begin seeing patients in January 2024. Situated on 20 acres, the development features a 120,000-square-foot clinic, 265 consult rooms, 60 patient rooms, an activities courtyard, full-service kitchen, dining room and social activities room. The General Services Administration (GSA), along with the VA, selected the project team, including Hoar Construction and Leo A Daly as the general contractor and architect, respectively. Lincoln Harris is the facility manager.

August 31, 2023

Development Loans Multifamily North Carolina Southeast

FCP Provides $13.9M in Preferred Equity for Multifamily Development in Charlotte

by John Nelson August 31, 2023

CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit apartment community located along Garron Point Drive in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform, which has invested approximately $640 million to date. When complete, Easton at Mountain Island will be situated on nearly 20 acres near the Catawba River and Charlotte Douglas International Airport.

August 31, 2023

Delaware Development Industrial Loans Northeast

JLL Arranges $56.3M Construction Loan for Industrial Project in Claymont, Delaware

by Taylor Williams August 31, 2023

CLAYMONT, DEL. — JLL has arranged a $56.3 million construction loan for Tri-State Industrial, a 525,000-square-foot project that will be located about 25 miles outside of Philadelphia in Claymont, Delaware. The property will feature 40-foot clear heights, an ESFR sprinkler system, 130-foot truck court depths, four drive-in ramps with overhead doors and ample trailer and car parking. Chris Drew, Mike Pagniucci and Michael DiCosimo of JLL arranged the loan through Principal Asset Management on behalf of the borrower, a partnership between New York City-based KPR Centers and Los Angeles-based PCCP LLC.

August 31, 2023

Development Multifamily New York Northeast

Skyline Developers Breaks Ground on 97-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams August 31, 2023

NEW YORK CITY — New York City-based Skyline Developers has broken ground on a 97-unit multifamily project at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the building will rise 26 stories and span 152,000 square feet. Goldman Sachs Bank USA provided construction financing for the project, which is slated for a 2025 delivery. Information on floor plans and specific amenities was not disclosed.

August 31, 2023

Development Industrial Leasing Activity Massachusetts Northeast Office

Dacon Completes 30,000 SF Headquarters Project in Canton, Massachusetts

by Taylor Williams August 31, 2023

CANTON, MASS. — Massachusetts-based design-build firm Dacon has completed a 30,000-square-foot, build-to-suit headquarters project for healthy snack food provider 88 Acres in Canton, a southern suburb of Boston. The facility at 85 John Road, which allows the company to more than quintuple its production, features a quality control lab, R&D lab, production area, cooling room, warehouse, executive offices and conference rooms. Camber Development owns the building.

August 31, 2023

Development Midwest Multifamily Wisconsin

M&R Development Opens 2929 on Mayfair Luxury Apartment Complex in Suburban Milwaukee

by Kristin Harlow August 31, 2023

WAUWATOSA, WIS. — M&R Development has opened 2929 on Mayfair, a 258-unit luxury apartment complex in the Milwaukee suburb of Wauwatosa. M&R co-developed the project with Campbell Capital Group. RMK Management is the property manager. Located at 2929 N. Mayfair Road, the property is just down the street from The Mayfair Collection, a 69-acre mixed-use development. Illinois-based M&R has now opened three apartment communities in Wisconsin in the last three years. Units at 2929 on Mayfair range from 453 to 1,282 square feet. Monthly rents range from $1,250 to $2,610. A three-story clubhouse is at the center of the community with an adjoining courtyard and outdoor pool. The shared spaces include an entertainment kitchen, coffee bar, lounge, fitness center, yoga room, business center with private conference rooms and workstations, a pet washing station and package room. There is also a three-level parking garage with car wash and electric vehicle charging stations.

August 31, 2023

Development Life Sciences Texas Top Stories

Texas Woman’s University to Break Ground on $107M Health Sciences Center in Denton, Texas

by Jeff Shaw August 31, 2023

DENTON, TEXAS — Texas Woman’s University (TWU) will break ground on a $107 million health sciences center in Denton on Friday, Sept. 15. The 136,000-square-foot facility will serve students in the allied healthcare fields such as nursing, physical therapy and occupational therapy. TWU states the goal of the center is to graduate 30 percent more nursing and healthcare professionals, with a special emphasis on preparing students to serve in rural settings. The new health sciences center will be constructed on seven acres adjacent to Parliament Village, a TWU residential complex housing 872 students. Plans for the facility include laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Alongside the groundbreaking, TWU will launch the public phase of the $125 million Dream Big Campaign. This is TWU’S first comprehensive fundraising campaign. The Dream Big Campaign is intended to commemorate university’s 125th anniversary in 2026. TWU is a public university that was established in 1901. The university’s main campus is in Denton, with additional health science centers in Dallas and Houston. While TWU admitted its first male students in 1972 and has been fully co-educational since 1992, the school is …

August 31, 2023

Acquisitions Alabama Development Mixed-Use Multifamily Southeast

IMS Development Acquires 130 Acres in Huntsville, Plans Mixed-Use Campus With 800 Residences

by John Nelson August 30, 2023

HUNTSVILLE, ALA. — Tuscaloosa, Ala.-based IMS Development has purchased 130 acres on the north side of Huntsville from the University of Alabama in Huntsville Foundation. The site is located at the corner of State Routes 255 and 53 and Blake Bottom Road. The buyer plans to build a mixed-use campus on the site dubbed North Valley, which will comprise 800 residences and 20 acres of commercial space. IMS Development says potential uses for the commercial component could include big-box retailers, hotels, restaurants, convenience stores and entertainment venues. Eric St. John of Crunkleton Commercial Real Estate assisted IMS in the land acquisition. The construction timeline was not released.

August 30, 2023

Development Florida Southeast Student Housing

Landmark, Manulife to Break Ground on 859-Bed Student Housing Development Near Florida State University

by John Nelson August 30, 2023

Management has announced plans for The Mark at Tallahassee, an 859-bed student housing development located near the Florida State University (FSU) campus in Tallahassee. The three-building community will offer fully furnished units with bed-to-bath parity. Shared amenities are set to include a rooftop clubhouse with an outdoor swimming pool, sun shelf, lounge seating, a grill station, fire pits and a jumbotron; a fitness center overlooking the university’s Doak Campbell football stadium; 24-hour study lounge; collaboration space; and bike storage. The project, which is being built by Landmark’s in-house general contractor Landmark Construction, is expected for completion in August 2025.

August 30, 2023

Development Loans Multifamily South Carolina Southeast

GBT Realty Obtains $88M Construction Loan for Village at Carnes Crossroads Apartments in Metro Charleston

by John Nelson August 30, 2023

SUMMERVILLE, S.C. — Brentwood, Tenn.-based development firm GBT Realty Corp. has obtained an $88 million construction loan for The Village at Carnes Crossroads, a 306-unit multifamily community in Summerville. The property will be the latest multifamily component for the 2,300-acre Carnes Crossroads master-planned development in metro Charleston. Matt Stewart and Chip Sykes of JLL arranged the loan through Bank of America and Meta Real Estate Partners. The multifamily community will be situated directly across from The Marketplace at Carnes Crossroads, a Publix-anchored shopping center. Set to open first units in spring 2025, The Village at Carnes Crossroads will feature a mix of studio, one-, two- and three-bedroom units. Amenities will include separate small- and large-breed dog parks, a resort-style saltwater pool with lounge deck, outdoor kitchen, club room with catering kitchen and golf stimulator, fitness complex and a coworking center, as well as 11,000 square feet of retail space. The design-build team includes architect Dynamik Design, civil engineer Thomas & Hutton and general contractor Samet Corp.

August 30, 2023

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