Development

Extell Development Underway on 435,000 SF Medical Office Project on Manhattan’s Upper East Side

by Taylor Williams July 17, 2023

NEW YORK CITY — Locally based firm Extell Development Co. is underway on construction of a 435,000-square-foot medical office project at 1520 First Ave. on Manhattan’s Upper East Side. Designed by Perkins Eastman Architects, the 30-story building will occupy a full city block between East 79th and East 80th streets and house ambulatory care and surgical facilities. Foundation completion and vertical construction are scheduled to occur during the third quarter of this year, and full completion is slated for the second quarter of 2025. According to the development team, the facility will be the first privately built medical office tower to be developed on the Upper East Side. Additional building features will include multiple outdoor terraces and mechanical systems to enhance comfort and energy efficiency, as well as ground-floor retail space. The Hospital for Special Surgery (HSS) has preleased eight floors totaling 195,580 square feet to serve as the facility’s anchor tenant. Newmark has been tapped to lease the remainder of the space. HSS will house orthopedic and rheumatology physician’s offices, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine …

July 17, 2023

Development Georgia Multifamily Southeast

Selig, GID to Open 306-Unit Westbound at The Works Apartment Community in Atlanta

by John Nelson July 14, 2023

ATLANTA — Selig Enterprises and joint venture partner GID will open Westbound at The Works, a 306-unit apartment community located within The Works mixed-use development, this October. Located in Atlanta’s Upper Westside neighborhood, the five-story property features residences ranging in size from 731 to 1,353 square feet in one- and two-bedroom layouts, with a 547-space parking garage. Amenities include an open-air TV lounge, fitness center, club room, sports bar, coworking center, communal kitchens and a pool courtyard. RJTR is the project architect, and Brasfield & Gorrie is the general contractor. Wells Fargo provided financing for the development. RangeWater will manage and lease the property, with monthly rates beginning at $1,840, according to the community’s website. Developed in phases by Selig, The Works also features retail and entertainment space, including a food hall, as well as 125,000 square feet of adaptive reuse office space.

July 14, 2023

Development Florida Industrial Southeast

Woodmont, Butters, PCCP Break Ground on 303,364 SF Industrial Project in South Florida

by John Nelson July 14, 2023

JUPITER, FLA. — Woodmont Industrial Partners, Butters Construction & Development and PCCP LLC have broken ground on the first building of a 303,364-square-foot industrial project in Palm Beach County. Situated within Palm Beach Park of Commerce in Jupiter, the building, the first of eight, will feature 40-foot clear heights, 60-foot speed bays, 43 dock high doors, two drive-in doors, roughly 196-foot truck courts and 26 trailer parking spaces. Construction of the project is expected to be complete in the second quarter of 2024. The joint venture acquired the property, located at 15430 Corporate Road N, in December 2021.

July 14, 2023

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

Ivey, BCDC to Develop 262-Unit Build-to-Rent Community in Augusta, Georgia

by John Nelson July 14, 2023

AUGUSTA, GA. —Ivey Group and Batson-Cook Development Co. (BCDC) have formed a joint venture partnership for the development of West Park Townhomes, a 262-unit build-to-rent residential community in Augusta. Situated on 29 acres at Wheeler Road, the project is scheduled for delivery beginning in the first quarter of 2024. Amenities at the community will include a clubhouse, swimming pool, fitness room and a pet park. SRP Federal Credit Union will provide construction financing, with Parse Capital as a preferred equity investor. Ivey South Construction will serve as general contractor, and Patterson Real Estate Advisory Group represented the joint venture as the capital placement broker.

July 14, 2023

Development Office Texas

Crest Builders Completes 15,000 SF Interior Office Renovation Project in Houston

by Taylor Williams July 14, 2023

HOUSTON — General contractor Crest Builders has completed a 15,000-square-foot interior office renovation project in Houston for DECISIO Health, which provides platforms and solutions for aggregating data from electronic health records. Houston-based Griffin Partners owns the building at 520 Post Oak Blvd. Ware Malcomb designed the space. Edward Edson of Colliers represented DECISIO Health in the lease negotiations, and Jill Nesloney of Lee & Associates represented Griffin Partners.

July 14, 2023

Connecticut Development Loans Multifamily Northeast

Dwight Capital Provides $34M HUD-Insured Construction Loan for Connecticut Multifamily Project

by Taylor Williams July 14, 2023

MYSTIC, CONN. — New York City-based Dwight Capital has provided a $34 million HUD-insured construction loan for the second phase of Harbor Heights, a 123-unit multifamily project in Mystic, located in southern coastal Connecticut. Harbor Heights II will feature one four-story building with one-, two- and three-bedroom units on a 5.8-acre site. Amenities will include a pool, fitness center, business center, dog park and outdoor grilling and dining stations. Daniel Malka and Jacob Gauptman of Dwight Capital originated the debt, which was structured with a 40-year term and a fixed interest rate, through HUD’s 221(d)(4) program. The borrower was not disclosed.

July 14, 2023

Development Multifamily Northeast Pennsylvania Seniors Housing

Marquis Launches $25M Renovation Project at Philadelphia Seniors Housing Community

by Taylor Williams July 14, 2023

PHILADELPHIA — Marquis Health Consulting Services has launched the first phase of a $25 million renovation at Fountain View at Logan Square, a 420,000-square-foot seniors housing community in Philadelphia’s Center City district. The three-year repositioning follows an ownership change and rebranding at Fountain View, formerly known as The Watermark. Designed by ML Group, the project will upgrade the lobby, hallways, apartments and dining room, as well as reconfigure amenity spaces. New features will include an auditorium with space for live entertainment, a makers’ room, theater, piano bar and a sky lounge. Lastly, the development team will add a juice bar and fitness center with a sauna and is exploring possible additions of a pool, outdoor deck and pickleball courts.

July 14, 2023

Development Illinois Midwest Restaurant Retail

Cicero to Complete 4,000 SF Renovation for New Restaurant at Chicago’s Windermere House

by Kristin Harlow July 14, 2023

CHICAGO — Cicero Construction Group is completing a 4,000-square-foot renovation at Chicago’s historic Windermere House. The space will serve as the future home of Dawn, a southern brunch restaurant slated to open in September. The renovation will completely transform the space, which was formerly home to Piccolo Mondo restaurant. Plans call for a new commercial-grade kitchen with a revamped layout. The dining room will undergo a gut renovation to accommodate seating for 61 guests, and the bar area will be expanded. Cicero will also demolish the former interior; install new drywall, finishes, masonry and woodwork; upgrade the mechanical, electrical and plumbing systems; and replace the flooring and lighting. The restaurateur behind Dawn is Racquel Fields, who runs the Caribbean-inspired 14 Parish a few blocks away.

July 14, 2023

Development Multifamily New York Northeast Seniors Housing

Sunrise Senior Living Completes 156-Unit Project on Manhattan’s Upper West Side

by Taylor Williams July 14, 2023

NEW YORK CITY — Sunrise Senior Living, in partnership with Hines and Welltower (NYSE: WELL), has completed The Apsley, a 156-unit project on Manhattan’s Upper West Side. Designed by SLCE Architects, the 19-story building is located at 2330 Broadway between 84th and 85th streets and features 80 assisted living and 76 memory care units. Rents start at $15,000 per month for studios, $21,500 for one-bedroom suites and $24,000 for two-bedroom suites.

July 14, 2023

California Development Multifamily Western

UC San Diego Breaks Ground on Student Center, 2,400-Bed Residence Hall Development

by Jeff Shaw July 14, 2023

SAN DIEGO — The University of California San Diego has broken ground on its previously announced student center and 2,400-bed residence hall development. The four-building student center, named Triton Center, is set for completion in 2026. One of the buildings will be home to the university’s student health, and mental health and well-being services. This property will include an urgent care space, primary care, pharmacy services, wellness services and a new home for the university’s counseling and psychological services department. Triton Center will also include an alumni and welcome center; multi-purpose building with a 500-person event space; an art gallery; and a student academic resources building. The academic resources building will expand the university’s existing Teaching + Learning Commons program, with facilities for its transfer student success hub, global initiatives, campus support and administration. Development plans have also been announced for Ridge Walk North Living and Learning Neighborhood, a residence hall project set to open in fall 2025. The community will offer 2,400 beds for undergraduate students. The building will also include updated administrative and teaching space for the university’s Thurgood Marshall College, School of Global Policy and Strategy, and the Department of Economics in the School of Social Sciences. …

July 14, 2023

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