FORT WORTH, TEXAS — Locally based developer The Woodmont Co. has broken ground on Berkshire Corner, a 12,002-square-foot, multi-tenant retail project in North Fort Worth. The strip center is preleased to tenants such as Jersey Mike’s Subs, Blue Mound Nail Spa, Blue Mound Liquor, Mynt Barbershop and ProSmiles Dental. Completion is slated for late 2023/early 2024.
SANTA MONICA, CALIF. — Fitness concept Club Studio has announced plans to open a 48,000-square-foot studio at Santa Monica Place, a Macerich property in Santa Monica. Located on the first level of the property, the space will feature five boutique studio rooms, as well as a recovery space, steam rooms, infrared saunas, a juice bar and retail store. A timeline for the opening was not disclosed.
NEW YORK CITY — Locally based owner-operator Bromley Cos. has completed the $100 million renovation of 122 Fifth Avenue, a 300,000-square-foot office building in Manhattan’s Union Square neighborhood. The repositioning added a new rooftop pavilion and bike storage room, enhanced the office and retail suites and upgraded the building infrastructure. According to New York Post, Microsoft anchors the building’s office space, having taken occupancy of floors six through 10 following completion of the project. Bromley Cos. first purchased 122 Fifth Avenue in 1979.
JERSEY CITY, N.J. — Regional developer Titanium Realty Group has received a $42.5 million bridge loan for a newly built, 148-unit multifamily project in Jersey City. The 19-story building houses 80 studios, 46 one-bedroom units, 19 two-bedroom residences and three three-bedroom apartments, as well as 4,500 square feet of ground-floor retail space. Daniel Cohen and Tal Savariego of Meridian Capital Group arranged the debt through Lightstone Capital Group. Proceeds will be used to retire existing debt and fund lease-up costs.
WAREHAM, MASS. — MassHousing has provided $16.3 million in financing for the development of a 93-unit affordable housing project in Wareham, located near Cape Cod in the southern part of The Bay State. The development will consist of two complexes that will feature a range of floor plans and income restrictions, as well as shared amenities. The financing includes $8.4 million in permanent financing, a $6.6 million bridge loan and $1 million from the agency’s workforce housing initiative. The borrower is Pennrose LLC.
NEW YORK CITY — Canyon Partners Real Estate LLC and J.P. Morgan have provided a $193 million senior construction loan to East End Studios for the ground-up development of Sunnyside Campus, a media and content production studio in Queens. Construction is underway, and completion is slated for the first quarter of 2025. Sunnyside Campus will total 275,000 square feet and feature three full-service, ground-floor sound stages spanning 75,000 square feet. The stages will feature clear heights of 37 feet and may be subdivided. Plans additionally call for a 15,000-square-foot rooftop flex stage with views of the Queens, Brooklyn and Manhattan skylines along with ample outdoor gathering space. The stages will be supported by 125,000 square feet of production, office and mill spaces, 225 below-grade parking spaces, and eight enclosed loading bays for full-size trucks. Mill space can be utilized for set construction, welding, props, special effects and more. Like all East End Studios projects, the Sunnyside facility will be fully integrated with extended reality and virtual reality infrastructure. Positioned on a full city block between Queens Boulevard and the Long Island Expressway, the Sunnyside campus offers cast and crew members convenient public transportation options. The New York City Industrial Development …
PEACHTREE CORNERS, GA. — Cincinnati-based mixed-use developer and operator North American Properties (NAP) has partnered with New Orleans-based Politan Group for a new food hall at The Forum Peachtree Corners, a mixed-use redevelopment in metro Atlanta. Set to open in summer 2024, the new Politan Row at The Forum is the second food hall between NAP and Politan Group as the duo opened Politan Row at Colony Square in Midtown Atlanta two years ago. The nearly 10,000-square-foot food hall will feature space for seven independent food-and-beverage concepts, a central Bar Politan, private event venue and an outdoor patio fronting the greenspace. Politan Group is also activating the adjacent jewel box with a standalone restaurant and wine bar. Bell-Butler is designing the food hall. Other uses coming to The Forum Peachtree Corners include a 125-room hotel, 381 apartments and a structured parking deck.
CARROLLTON, TEXAS — A partnership led by Atlanta-based Integral Group has broken ground on EVIVA Trinity Mills, a 436-unit multifamily project located in the northern Dallas metro of Carrollton. The project is being developed as part of Trinity Mills Station, a 25-acre urban village located adjacent to a Dallas Area Rapid Transit (DART) Green Line Station. The community will house studio, one- and two-bedroom units and roughly 11,000 square feet of retail space. Completion is slated for November 2025. Other members of the development team include Koa Partners and Artemis Real Estate Partners.
CHICAGO — McHugh Construction has topped out construction of Cassidy on Canal, a 33-story apartment tower in Chicago’s Fulton River District. The project team includes co-developers The Habitat Co. and Diversified Real Estate Capital LLC as well as architect Solomon Cordwell Buenz. In a nod to the site’s history, bricks from the former Cassidy Tire building were used a baseline for selecting bricks for the new structure. The 355-foot-tall tower will offer studios, one- and two-bedroom units. The fifth-floor amenity space will include a fitness center, game room, various clubrooms, a coworking center, spa with sauna, pool, sun deck and grilling areas. First move-ins are slated for spring 2024.
INGLEWOOD, CALIF. — Cinépolis Luxury Cinemas has announced plans to open a 55,137-square-foot theater at Hollywood Park, a mixed-use development currently underway in Inglewood. Scheduled to open this month and dubbed Cinépolis Luxury Cinemas Inglewood IMAX, the space will feature 12 screens and 1,236 seats.