Development

CRG Plans 12-Story Chapter at Eugene Student Housing Property Near University of Oregon

by Amy Works January 26, 2023

EUGENE, ORE. — CRG and its partner Kenter Capital have secured the land and construction financing for Chapter at Eugene, a 12-story, 119-unit student housing community adjacent to the University of Oregon campus in Eugene. Construction is slated to begin later this month, with delivery scheduled for 2024 to coincide with the start of the 2024-25 academic year. Located at 754 E. 13th Ave., the 302-bed Chapter at Eugene will offer a mix of studio, two-, three-, four- and five-bedroom apartments, with preleasing scheduled to begin in early fall 2023. The furnished residences will feature wood-style flooring, kitchens with quartz countertops and stainless steel appliances, living rooms with smart TVs, and in-unit laundry. Community amenities will include a 5,000-square-foot rooftop recreation deck with a dog run, dining areas and fire pits with seating, and a 12th-floor resident lounge with a demonstration kitchen and study rooms, as well as a fitness center, yoga room, study areas, resident storage and bicycle parking on the ground floor. Byline Bank provided construction financing, Seattle-based Jackson Main Architecture served as architect and Springfield, Ore.-based John Hyland Construction is serving as general contractor.

January 26, 2023

Arizona Development Industrial Western

Schnitzer Properties Completes 560,352 SF Queen Creek Commerce Center in Chandler, Arizona

by Amy Works January 26, 2023

CHANDLER, ARIZ. — Portland, Ore.-based Schnitzer Properties has completed the construction of Queen Creek Commerce Center, a two-building industrial project at Queen Creek Road and Hamilton Street in Chandler. Situated on 34 acres, Queen Creek Commerce Center features 560,352 square feet of industrial space. Three tenants have pre-leased the development: Intel, NEHP and Horsepower Automotive Group. Rick Collins of JLL brokered the leases on behalf of Schnitzer Properties.

January 26, 2023

Development Midwest Nebraska Office Top Stories

Mutual of Omaha Breaks Ground on 44-Story Headquarters Building in Downtown Omaha

by Katie Sloan January 26, 2023

OMAHA, NEB. — Mutual of Omaha has broken ground on a 44-story office tower that will act as the company’s headquarters in downtown Omaha. At 677 feet, the building will rise 43 feet above the city’s current tallest building, First National Bank Tower. The 800,000-square-foot development will include a street-level lobby with conference space and an “experience center” spotlighting the company’s history, brand and impact on customers and the community; a sky lobby, welcoming associates from the planned 2,200-stall parking structure; food and wellness services, a fitness center and flexible meeting spaces on the 16th through 20th floors; and conference facilities with a two-story atrium on the 44th floor. Despite the skyscraper’s record-breaking height, the building will be less than half the square footage of the company’s current 1.7 million-square-foot headquarters in Omaha’s Midtown neighborhood. This shift in design is to support flexible work arrangements, including in-person, remote and hybrid models. “As a customer-focused company, we worked closely with our design team to create a headquarters that is appropriately sized, adaptable to ways of working that may emerge in the future and able to serve our policyholders in an effective and efficient manner,” says CEO James Blackledge. Mutual of Omaha’s …

January 26, 2023

Development Mixed-Use Texas

Realty Capital Management to Develop 20-Acre Mixed-Use Project in Corinth, Texas

by Taylor Williams January 25, 2023

CORINTH, TEXAS — Locally based developer Realty Capital Management will build The Parkway District, a 20-acre mixed-use project in Corinth. Situated at the corner of I-35 and Corinth Parkway, the site is located about 40 miles northeast of Fort Worth. Plans currently call for 275 market-rate apartments, 16 townhomes, a select service hotel, 22,000 square feet of retail and restaurant space and a central park that connects the various uses. Texas Bank & Trust provided financing for the land acquisition. Construction will begin over the summer.

January 25, 2023

Acquisitions Development Multifamily Office Texas

Partnership Buys 314,514 SF Office Building in Downtown Fort Worth, Plans Multifamily Redevelopment

by Taylor Williams January 25, 2023

FORT WORTH, TEXAS — A partnership between two Chicago-based investment firms, 3L Real Estate and Syndicated Equities, has purchased The Oncor, a 314,514-square-foot office building in downtown Fort Worth. The new ownership plans to convert the building into a 330-unit multifamily community with Class A amenities, including a pool, fitness center, rooftop deck and a business center. The seller and sales price were not disclosed. A construction timeline was also not released.

January 25, 2023

Affordable Housing Development Multifamily Texas

NHP Foundation to Develop 149-Unit Affordable Housing Project in Houston

by Taylor Williams January 25, 2023

HOUSTON — The NHP Foundation, a nonprofit real estate corporation based in New York City, has finalized a ground lease with Magnificat Houses Inc. to develop a 149-unit affordable housing project in Houston’s Midtown neighborhood. The property at 3300 Caroline St. will be known as RoseMary’s Place and will be reserved for those currently experiencing homelessness. Life skills training, budgeting, anger management coping skill and interpersonal relationship skills will be among the third-party social services provided at RoseMary’s Place. The City of Houston Housing & Community Development Department provided $18.6 million in financing for the project.

January 25, 2023

Development Industrial Life Sciences North Carolina Southeast

Eli Lilly to Invest $450M at Research Triangle Park Campus in Durham

by John Nelson January 25, 2023

DURHAM, N.C. — Eli Lilly and Co., a pharmaceutical giant based in Indianapolis, plans to invest $450 million to expand its campus within Research Triangle Park (RTP) in Durham. The expansion includes additional parenteral filling, device assembly and packaging capacity to support an increased demand for the company’s incretin products that treat diabetes. The move is expected to create at least 100 new jobs, primarily comprising manufacturing personnel who will produce incretin treatments and medical devices. Eli Lilly expects the new facility to come on line in 2027. Since 2020, the company has committed roughly $4 billion to new manufacturing facilities in North Carolina, including $1.7 billion for the development and expansion of its RTP base.

January 25, 2023

Development Florida Industrial Southeast

Graham & Co. to Develop 262,440 SF Industrial Park in Tampa

by John Nelson January 25, 2023

TAMPA, FLA. — Birmingham, Ala.-based Graham & Co. has purchased 21 acres at the intersection of U.S. Highway 301 and Florida Palm Drive in Tampa. The developer plans to build a 262,440-square-foot, three-building industrial park on the site called East Tampa Commerce Center. The three facilities will range in size from 85,500 to 91,440 square feet and feature 32-foot clear heights within a concrete tilt-wall structure. Set to deliver in early 2024, the buildings will be available for single-tenant users or could be divided into smaller suites to accommodate multiple tenants. The development team includes the previous landowner and development partner, an entity doing business as Palm River JLM Center Ltd., as well as Graham & Co.’s affiliate Graham Capital. Other members of the project team include general contractor ARCO/Murray and civil engineer Kimley-Horn. Truist provided an undisclosed amount of construction financing for the project. Additionally, included in the land acquisition was a separate purchase of an existing industrial facility located at 9208 Palm River Road.

January 25, 2023

Development Industrial New York Northeast Self-Storage

Diversified Properties Breaks Ground on 495-Unit Self-Storage Facility in Montgomery, New York

by Taylor Williams January 25, 2023

MONTGOMERY, N.Y. — New Jersey-based developer Diversified Properties has broken ground on a seven-building, 495-unit self-storage facility in Montgomery, about 80 miles north of New York City. The facility will consist of one two-story building totaling 39,000 net rentable square feet, and six single-story buildings, each of which will total 6,900 net rentable square feet. Morris Construction Management is overseeing construction of the project, which is scheduled for an October completion. CubeSmart is the proposed operator of the facility.

January 25, 2023

Development Illinois Midwest Retail

McHugh Construction Breaks Ground on FlyOver Flying Ride Attraction at Chicago’s Navy Pier

by Kristin Harlow January 25, 2023

CHICAGO — McHugh Construction has broken ground on a 48,000-square-foot space that will house FlyOver, a new flying ride attraction at Chicago’s Navy Pier. Expected to open in spring 2024, FlyOver replaces Navy Pier’s longtime IMAX theater, located near the Centennial Wheel on the west end of the pier. The attraction will provide guests with the feeling of flight as they hang suspended from moving seats with their feet dangling below. The ride will also feature films projected on a 65-foot wrap-around screen that will showcase Chicago as well as iconic landscapes from around the globe. The attraction will provide a multi-sensory experience, complete with mist, wind and scents. FlyOver, from global attractions and hospitality company Pursuit, will be the first ride of its kind in Chicago. The experience will be similar to FlyOver attractions in Las Vegas, Canada and Iceland. Chicago-based Epstein is the architect. Project costs are estimated at $13 million.

January 25, 2023

Newer Posts

Older Posts