Development

ATLANTA — Mill Creek Residential has broken ground on Modera Westside Trail, a 373-unit luxury apartment community in Atlanta’s West Midtown neighborhood. The site is located at 576 Northside Drive, which is adjacent to the western boundary of the Georgia Tech campus and one block south of the new Echo Street West mixed-use development. Modera Westside Trail will comprise studio, one-, two- and three-bedroom units, as well as 37 residences under Mill Creek’s proprietary Premium Collection brand that will feature upgraded finishes. The property will feature immediate access to the Atlanta BeltLine’s Westside Trail, as well as a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, steam room, coworking space, resident clubhouse with shuffleboard, onsite dog park and pet spa and a fitness center with cardio equipment, yoga studio, TRX system and Peloton bikes. Other amenities will include digital package lockers, controlled-access garage parking, EV charging stations, loaner bikes, bike repair station, bike storage and additional storage space. Mill Creek is anticipating first move-ins for fall 2025. 

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WACO, TEXAS — AJ Capital Partners is nearing completion of Hotel 1928, an adaptive reuse project located at 701 Washington St. in Waco. The project reimagines the historic Grand Karem Shrine Building as a 33-room hotel with multiple onsite food-and-beverage options, as well as a rooftop terrace and 6,000 square feet of meeting and event space. The grand opening is set for Nov. 1. The hotel features “an inspired  hospitality experience designed and developed by” Waco residents and TV personalities Chip and Joanna Gaines.

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Expressway-Commerce-Center

YORK, PA. — A partnership between Los Angeles-based PCCP LLC and MRP Industrial has broken ground on Expressway Commerce Center, a 674,000-square-foot speculative project that will be located west of Philadelphia in York. The development will consist of a 271,000 and 403,000-square-foot building, both of which will have rear-load configurations, 36-foot clear heights and combined parking for 563 cars and 175 trailers. Construction is slated for a third-quarter 2024 completion.

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NORTH LAS VEGAS, NEV. — Panattoni Development has started construction on Simmons Airpark, a Class A industrial facility at 2880 Simmons St. in North Las Vegas. The asset is valued at $18 million. Completion is slated for April 2024. The 182,184-square-foot building will feature 36-foot clear heights, a full concrete truck court and drive aisles, potential for evaporative cooling or full HVAC and the potential for a fully secured truck court. Panattoni Development will own the property.

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COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois. The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect. In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April. The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect. Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom …

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OVERLAND PARK, KAN. — Occidental Management has expanded Aspiria NOW, its coworking facility on the Aspiria campus in Overland Park. The expansion extended the coworking space to the third floor of its existing building with an additional 30,000 square feet that includes 11 new private offices, 60 dedicated workstations and increased collaboration areas. The firm has also hired Kathy Todtenhausen to serve as community manager, supporting General Manager Robert Curland in a variety of functions. Aspiria NOW first opened in August 2022 and is now home to more than 28 member companies. Aspiria NOW memberships are available in a variety of flexible plans, including daily, month-to-month and long-term packages. The more than 80,000-square-foot space can accommodate corporations that need temporary spaces for special projects or hybrid workspace options.

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INDIANAPOLIS — The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, is nearing completion of a $2.7 million capital improvement program at The Life at Arden Landing, a 131-unit apartment complex in Indianapolis. Completion is slated for the fourth quarter. Interior upgrades are being made to 105 of the community’s residences as well as window replacements, new exterior paint, repairs to the exterior façade, sidewalk and parking lot upgrades, improvements to the children’s playground, replacement of the gutter system, security camera system enhancements and landscaping improvements. There are also several sustainable upgrades such as low-flow plumbing retrofits and the installation of LED lighting. The property was originally built in 1999.

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JERSEY CITY, N.J. — JLL has arranged a $193 million construction loan for Pathside, a 605-unit luxury apartment tower in Jersey City, a suburb of New York City. Located at 499-507 Summit Ave. in the city’s Journal Square neighborhood, the high-rise will be situated within an opportunity zone and adjacent to the PATH subway station. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Salvatore Buzzerio of the debt advisory team at JLL Capital Markets arranged the five-year, floating-rate, nonrecourse loan through Pacific Life. The borrower, locally based Panepinto Properties Inc., plans to deliver Pathside in the second quarter of 2026. Joseph Panepinto Jr., global president of Panepinto Properties, led the financing negotiations on behalf of the developer. “We are excited to announce the vertical capitalization of Pathside, the newest luxury delivery in Panepinto’s Gold Coast pipeline,” says Thomas Didio Jr. “Pacific Life provided the borrower team with an accretive single-source solution in a very challenging market for large construction loans.” Upon completion, Pathside will feature studio, one-, two- and three-bedroom apartments averaging 710 square feet in size. The property will also feature 3,200 square feet of commercial space on the ground level. The general contractor on the project is AJD Construction, …

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PIGEON FORGE, TENN. — BrightColors LLC and partner Kingsmen Xperience Inc. have announced plans with crayon giant Crayola to open a 30,000-square-foot Crayola Experience in Pigeon Forge. Upon completion, the indoor family entertainment center will feature 20 interactive experiences and a retail store. The Pigeon Forge location marks the sixth attraction for the brand, which has opened venues in Pennsylvania, Florida, Minnesota, Texas and Arizona. Four additional Crayola Experience locations will open over the next five years, the locations of which were not disclosed.

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ATLANTA — Atlanta BeltLine Inc. has purchased 13.7 acres along the BeltLine’s Southside Trail in southwest Atlanta for $13.3 million. Situated at 356 University Ave., the property is situated adjacent to the Pittsburgh Yards adaptive reuse development. This acquisition marks the continuation of the BeltLIne’s mission to procure land along the trail loop. AECF Atlanta Realty, a subsidiary of the Annie E. Casey Foundation, manages Pittsburgh Yards and was the seller. SouthState Bank provided acquisition financing for the transaction. The BeltLine will conduct a community engagement process to determine best uses for the site. After incorporating the vision of adjacent residents and local businesses into the plans, the organization will issue a Request for Proposals (RFPs) to invite developers to submit proposals to redevelop the site.

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