NEW YORK CITY — A subsidiary of locally based lender Naftali Group has provided $48 million in financing for 8 Carlisle Street, a 64-story, 400-unit multifamily project that will be located in Manhattan’s Financial District. Proceeds will be used to refinance existing debt on the land and fund various predevelopment costs. The borrower is North Carolina-based developer Grubb Properties. Construction of the building, which will include ground-floor retail space, is slated for a 2026 completion.
HAVERHILL, MASS. — Locally based developer RISE is nearing completion of a multifamily redevelopment project at 86 Essex St. in Haverhill, a northern suburb of Boston. The project is converting a seven-story former industrial building in the downtown area that was originally constructed in 1910 into a 42-unit apartment complex that will be known as Essex Street Lofts. Full completion is scheduled for October.
WILLIAMSBURG, VA. — Balfour Beatty Campus Solutions, a developer and operator of college and university real estate and infrastructure projects, has released plans for on-campus student housing options at William & Mary, a public research university in Williamsburg. The developer formed a public-private partnership with the school to bring the $240 million project to fruition. The new student housing accommodations will exceed 1,200 new beds. The general contractors, which includes Balfour Beatty’s buildings division and Richmond-based Kjellstrom+Lee, plan to break ground this month and open for student occupation in 2025. The first phase will deliver 935 beds at West Woods on the west side of William & Mary that will feature modern living units and community spaces, as well as a 50,000-square-foot dining hall. The second phase will feature 269 beds in a new facility adjacent to the school’s Lemon and Hardy Halls along Jamestown Road. The residence halls will be heated using geothermal heating and air conditioning in support of the school’s Climate Action Roadmap, which aims for a carbon-neutral campus by 2030. Lemon and Hardy Halls will also be transitioned to geothermal heating and cooling as part of the project. The design-build team includes VDMO Architects and CMTA. …
CAPE CANAVERAL, FLA. — Amazon is underway on the construction of a $120 million satellite processing facility at Space Florida’s Launch and Landing Facility within Kennedy Space Center in Cape Canaveral. Upon completion, the development will total 100,000 square feet with a 100-foot high bay clean room. The facility will be used to receive and prepare Blue Origin and United Launch Alliance (ULA) satellites as part of Amazon’s Project Kuiper, a 3,200-satellite project that will provide broadband connection to underserved communities globally. Amazon will use the facility to receive shipments, conduct final preparation ahead of launches, connect satellites to custom dispensers from space tech firm Beyond Gravity and integrate the loaded dispensers with launch vehicles. Amazon’s investment is expected to create 50 news jobs on Florida’s Space Coast. A timeline for delivery was not disclosed.
ARLINGTON, VA. — Development and construction firm Skanska has completed the construction of a 245,000-square-foot medical office building in Arlington on behalf of VHC Health. The Outpatient Pavilion facility includes physical therapy examination and treatment rooms, radiology and imaging suites, examination clinics and six operating rooms. Additionally, there is 22,000 square feet of space dedicated to women’s health services. Skanska previously delivered an adjacent parking garage, featuring capacity for more than 1,600 cars, in 2021.
OKLAHOMA CITY — Atlanta-based developer Seefried Industrial Properties, in partnership with Truist Securities, is underway on construction of an 842,043-square-foot, build-to-suit project in Oklahoma City. The new facility will act as a hub for depot support for the military engines of Pratt & Whitney, which are maintained at Tinker Air Force Base. The facility, which is expandable to 942,000 square feet, will feature an 86,000-square-foot office component, and future development plans include an adjacent, 100,000-square-foot training facility. In addition, the main warehouse will offer 40-foot clear heights, up to 120 dock-high doors, six grade-level doors, 515 auto parking stalls (including EV charging spots) and 103 trailer spaces. Construction is slated for a second-quarter 2024 completion.
KENT, WASH. — Bridge Industrial is expanding its presence in the Pacific Northwest with the acquisition of a 13-acre site at 7730 S. 202nd St. in Kent. The site will eventually house Bridge Point Kent 180, a Class A industrial facility spanning 180,000 square feet. An aluminum smelting plant previously occupied the site, which requires significant environmental remediation due to nearly 40 years of contamination. Bridge plans to demolish the existing structure and conduct extensive cleanup before commencing construction on Bridge Point Kent 180 in the first quarter of 2024. The facility is scheduled for completion by the first quarter of 2025. Bridge Point Kent 180 will cater to a range of tenants, including ecommerce, logistics and cold storage users. The facility will feature 36-foot clear heights, multiple loading doors, trailer parking and car parking. Bridge’s continued expansion in the Seattle region reflects the strong demand for modern, sizable industrial facilities in this market, according to the company.
MOUNT VERNON, N.Y. — A partnership between Alexander Development Group, The Bluestone Organization and J.P. Morgan Global Alternatives has completed 42 Broad, a 249-unit apartment complex in Mount Vernon, located north of New York City. Designed by Perkins Eastman, the 16-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, walk-in showers and individual washers and dryers. Amenities include a pool, fitness center, outdoor kitchens, game room, lobby lounge, coworking spaces, library and a zen garden, as well as ground-floor retail space. Rents start at $2,100 for a studio apartment.
BOSTON — A partnership between nonprofit owner-operator Beacon Communities and the Chinese Consolidated Benevolent Association of New England Inc. (CCBA) has broken ground on Pok Oi, an 85-unit affordable housing project in Boston’s Chinatown district. The complex will offer one-, two- and three-bedroom units that will be reserved for renters earning 80 percent or less of the area median income. Nine units will be specifically set aside for citizens experiencing homelessness. Citizens Bank provided construction financing for the project, and MassDevelopment issued tax-exempt bonds. Completion is slated for late 2024.
HAMILTON, N.J. — Locally based developer Denholtz Properties has delivered 800 Horizon Center, a 40,500-square-foot industrial flex building in the Northern New Jersey community of Hamilton. The site is located less than three miles from Exit 7A on the New Jersey Turnpike at the intersection of Interstate 195 and U.S. Route 130. Building features include divisibility to 2,700-square-foot units, a clear height of 26 feet, 15 roll-up doors and roughly 110 car parking spaces. Fennelly Associates has been tapped as the leasing agent as of February 2024.