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.
ELKHART, IND. — Industrial Commercial Properties (ICP) has acquired Concord Mall in Elkhart, about 15 miles east of South Bend. ICP plans to redevelop the 600,000-square-foot shopping mall and adjacent outparcels into a mixed-use business park. Concord Mall was originally built in 1972 and has been suffering vacancies in recent years. Early this year, JC Penney unveiled plans to close its store at the mall, leaving Hobby Lobby as the sole anchor tenant. Hobby Lobby will continue to operate at the location. A timeline for construction was not provided.
ARLINGTON HEIGHTS, ILL. — The development arm of Bradford Allen has submitted plans for a 300-unit apartment development in the Chicago suburb of Arlington Heights. The eight-story project will feature 25,000 square feet of ground-floor retail space. Approximately 30 of the units will be designated as affordable housing. Bradford Allen submitted plans to village officials in a joint venture with Moceri+Roszak, which is also the architect. Plans call for 17,500 square feet of indoor and outdoor amenity spaces, including an outdoor pool, sun deck, fitness area, media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and pickleball court. There will also be indoor parking for 484 vehicles and 86 outdoor parking spaces for the retail component. The proposed project is adjacent to the former Daily Herald building, which Bradford Allen is converting into a 150,000-square-foot medical office complex known as ArlingtonMed. Together, the buildings are part of a potential 16-acre, master-planned community that includes additional apartment buildings and retail space.
FORT OGLETHORPE, GA. — General contractor Jim Chapman Construction Group (JCCG) has started construction on The Cottages at Battlefield Crossing, a 244-unit build-to-rent (BTR) townhome project located at the intersection of Dietz Road and Battlefield Parkway in Fort Oglethorpe. Situated on 41 acres about nine miles south of Chattanooga, Tenn., the property will feature homes in five floorplans totaling 1,020 to 1,466 square feet. Amenities at the community will include a 4,000-square-foot clubhouse, swimming pool, fitness center and 24-hour emergency maintenance services. The developer and construction timeline were not disclosed.
WASHINGTON, D.C. — Berkadia’s Affordable Housing division has arranged a $37.8 million low-income housing tax credit (LITHC) investment for the construction of Northwest One Phase II, an affordable housing multifamily community in Washington, D.C. Upon completion, the development will total 212 units in a mix of studio, one-, two-, three- and four-bedroom layouts for residents earning between 30 and 60 percent of the area median income (AMI), with 11 units reserved for individuals who were previously homeless. Amenities will include a business center, clubhouse, fitness center, laundry room and a game room. Berkadia secured the financing on behalf of the developer, a joint venture between MRP Realty, CSG Urban Partners and Taylor Adams Associates.
NEW CANEY, TEXAS — Hope Media Group, a provider of religious content, will open its global headquarters office within Valley Ranch, a 1,400-acre master-planned development in the northeastern Houston suburb of New Caney. The facility will house video and podcast production space, studios with noise isolation features and modern collaborative spaces. Gensler is the project architect, and Houston-based Tellepsen is the general contractor. Construction is expected to begin before the end of the year. Signorelli Co. owns Valley Ranch.
YORKVILLE, ILL. — Moda Homes has completed Phase I of Bristol Bay of Yorkville, a 240-unit build-to-rent townhome community in Yorkville, a southwest suburb of Chicago. Moda has completed 61 of the homes and is underway on Phase II. RMK Management Corp. is the property manager. Units at Bristol Bay range from 1,469 to 1,724 square feet, while monthly rents range from $2,325 to $2,700. All floor plans feature a main level with an open-concept kitchen and family room, powder room, coat closet, private patio and attached two-car garage. The second level of each home features a primary suite with a bath and walk-in closet, along with one or two secondary bedrooms, a full hall bath and laundry room with full-size washer and dryer.