CYPRESS, TEXAS — Caldwell Communities has opened Cadence Creek at Towne Lake, a 250-unit active adult complex in Cypress, a northwestern suburb of Houston. The community features one- and two-bedroom apartments that range in size from 760 to 1,230 square feet and cottages that range in size from 900 to 1,200 square feet. Amenities include a pool, fitness center, library, theater room, arts and crafts room, gaming area and a dog park. Rents start at $1,500 per month for a one-bedroom unit.
WAREHAM, MASS. — Pennrose will develop a 93-unit affordable housing project in Wareham, located in southern Massachusetts near the base of Cape Cod. The development will consist of a 49-unit complex with a mix of workforce and affordable apartments and a 44-unit affordable development for seniors aged 62 and older. Units will come in one-, two- and three-bedroom apartments and will be reserved for renters earning between 30 and 100 percent of the area median income. Completion is slated for summer 2024.
OWATONNA, MINN. — Kraus-Anderson has completed a new $99 million high school in Owatonna, about 65 miles south of Minneapolis. The project is part of a $112 million district bond referendum, which voters passed in November 2019. Construction began in May 2021. Designed by Wold Architects and Engineers, the three-story school totals 317,000 square feet and accommodates 1,600 students. In addition to classrooms, there are industrial arts labs, tech shop spaces, an 825-seat auditorium and a large commons and cafeteria space in the center of the building. Additionally, the school features a main gymnasium and auxiliary gymnasium with walking track, a 3,451-seat football stadium, eight tennis courts, two grass multipurpose fields, two synthetic turf multipurpose fields, two softball fields, two baseball fields and a full track. Located on 90 acres with parking for 890 vehicles, the development also includes four storage buildings for athletics.
MICHIGAN CITY, IND. — StorSafe is expanding its self-storage facility in Michigan City by 10,665 square feet with an additional 82 climate-controlled units. The project also includes a new onsite water management system to collect and clean stormwater coupled with a loading dock for semi-trucks and moving vans. After the expansion, the facility will include 384 climate-controlled units. The property is located at 2600 S. Franklin St. in Northwest Indiana. StorSafe, established in 2021, offers mobile technology, advanced management software, online tools, facility automation and state-of-the-art security equipment.
ELGIN, ILL. — Principle Construction Corp. is building a 22,245-square-foot warehouse for Alvil Trucking in Elgin. The trucking company will use the building at 2450 Millennium Drive for maintenance and repairs of its fleet. The project will feature a clear height of 24 feet, 48 parking spaces, six docks and two drive-in doors. Harris Architects is the project architect, and Jacob & Hefner is the civil engineer. The project marks the second building that Principle has constructed for Alvil.
YOUNGSVILLE, N.C. — Summit Real Estate Group has broken ground on US-1 North Commerce Center, a $164 million industrial park underway in Youngsville, about 25 miles north of Raleigh. The St. Louis-based developer is planning to build the nearly 1.4 million-square-foot campus in three phases. Situated off U.S. Highway 1 along Long Mill Road, US-1 North Commerce Center will span five multi-tenant warehouse buildings upon full build-out. Phase I, which will comprise two facilities, is expected to be delivered in first-quarter 2024. Summit Real Estate Group purchased the 106-acre site in fourth-quarter 2022 on behalf of its Arrowrock US Industrial Fund IV. Matthew Lederman, managing director of capital and investor relations at Summit, says that the project has had strong civic support since its inception. “Franklin County government has been a strong supporter of the project since the beginning,” says Lederman. Foundry Commercial is marketing US-1 North Commerce Center for lease. — John Nelson
HOPKINSVILLE, KY. — Toyota Boshoku America, a Toyota supplier based in Erlanger, Ky., will invest $225 million in the development of a new automotive parts manufacturing facility in Hopkinsville, a city in southwest Kentucky. Upon completion, the 327,000-square-foot property will be situated on 48 acres within the South Park Development. Construction began in June, and operations are scheduled to begin at the facility in 2025. The project is expected to create 157 jobs. Additionally, Toyota Motor North America announced last week that it has entered into a $3 billion partnership agreement with LG Energy Solution for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs). Under terms of the arrangement, the modules will be produced by LG at its Michigan facility and will support Toyota’s expanding line of BEVs, including a new model that will be assembled at the Toyota Manufacturing Kentucky plant in Georgetown, Ky., in 2025.
WASHINGTON, D.C. — Rockrose Development will complete the 245,000-square-foot renovation of three office properties located in Washington, D.C., this fall. Located within the Dupont Circle neighborhood, the project includes buildings located at 1900 M St. Northwest, 1146 19th St. and 1140 19th St. Together, the renovated properties will comprise “The Row on 19th.” John Skolnik and Michael Katcher of Cushman & Wakefield are exclusively leasing the project on behalf of Rockrose.
DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has begun leasing a 336-unit, garden-style apartment community in West Dallas. Resia Dallas West features one-, two- and three-bedroom units, including 17 affordable housing residences, across eight three-story buildings. All units feature private balconies or patios. Amenities include a pool, fitness center and a business center. Fifth Third Bank and Pealmark provided construction financing for the project. Rents start at $1,280 per month for a one-bedroom unit.
NEW YORK CITY — TD Bank has provided a $72.5 million construction loan for a 133-unit multifamily project in the Gowanus area of Brooklyn. The property at 544 Carroll St. will be a 17-story building that will feature an average unit size of 973 square feet and amenities such as a rooftop lounge, fitness center and event space. A quarter of the units will be earmarked as affordable housing. Christopher Peck and Peter Rotchford of JLL arranged the loan on behalf of the borrower, a joint venture between Avery Hall, Declaration Partners and Bridge Investment Group. Delivery is slated for late 2025.
