CARROLLTON, OHIO — Woda Cooper Cos. Inc. has broken ground on Hemming Crossing, a $12.5 million affordable seniors housing community in Carrollton, a city in eastern Ohio. The 42-unit property will offer one- and two-bedroom units for residents age 55 and older who earn 30 to 70 percent of the area median income. The three-story building will feature a community room, grandchild playroom, fitness center, patio, picnic tables and grills. The development is made possible with funding supported by Low-Income Housing Tax Credits (LIHTC) allocated by the Ohio Housing Finance Agency, which also provided an equity bridge loan. Affordable housing finance syndicator Marble Cliff Capital (MCC) provided the LIHTC investment financing. Consumers National Bank is a primary lender for the project and secondary investor through MCC. PCI Design Group is the architect, Chadan Engineering is the civil engineer and Sol Design + Consulting is the sustainability consultant. Woda Construction Inc. is the general contractor, and Woda Cooper’s management division, Woda Management & Real Estate, will oversee leasing and property management. A timeline for completion was not provided.
SAN CARLOS, CALIF. — Menlo Equities and Beacon Capital Partners have broken ground on Portal 405, a life sciences building located at 405 Industrial Road in San Carlos. The 240,000-square-foot Portal 405 is slated for completion in late 2024. The six-story building will feature four lab and office floors above two levels of above-grade parking and two levels of subterranean parking. The building lobby will offer bike storage, restrooms with showers and lockers, and tenant amenity areas that can accommodate a fitness center and café. The building-top terrace on the sixth floor will provide an outdoor work and event space for tenants. The property is designed to accommodate multiple tenants or a single user. Mike Moran of CBRE and Clarke Funkhouser of Cushman & Wakefield are the marketing and leasing agents for the project.
MENLO PARK, CALIF. — Presidio Bay Ventures, a San Francisco-based developer and investment firm, has officially opened Springline, a 6.4-acre mixed-use development near downtown Menlo Park in Silicon Valley. Situated adjacent to the Cal Train Station, the development features 200,000 square feet of office space, The Residences at Springline apartment community, a central plaza, two underground parking garages and 29,000 square feet of retail space. “We have delivered a magnetic destination in the heart of Silicon Valley that attracts the Bay area’s best to live, work and play,” says K. Cyrus Sanandaji, managing principal of Presidio Bay. “Over the past three years, we have created a destination with thoughtfully designed spaces that allow for tenants, residents and the local community to interact.” The Offices at Springline spans two buildings and features coworking space in the south building, as well as a golf simulator, entertainment lounge, fitness center, locker rooms, showers, outdoor fitness spaces, bicycle parking, electric vehicle charging stations and The Glade, an onsite dog park. Office tenants also have access to the Springline App that allows remote entry, direct access to property management, amenities, bookings and other services. The Offices are fully leased to global and regional tenants, including STG, Menlo Ventures, …
MIAMI — L&L Holding Co. and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, have completed the vertical construction of a 12-story office tower situated within The Wynwood Plaza, a 1 million-square-foot mixed-use campus underway in the Wynwood Arts District of Miami. Upon completion, the office development will total 266,000 square feet and will feature touchless entry and elevator systems, a dedicated parking garage, fitness club, bar lounge, conference and collaboration spaces and an expansive rooftop. Tenants will include Claure Group and law firm Weitz & Luxenberg, which will occupy 25,400 and 18,000 square feet, respectively. Located at 95 N.W. 29th St., the Wynwood Plaza is scheduled for completion in the first quarter of 2025 and will feature 509 residential units, as well as 32,000 square feet of shops, cafes and restaurants.
GAFFNEY, S.C. — Glenstar has secured $38.2 million in construction financing for the development of the first phase of an industrial park in Gaffney. CrossHarbor Capital Partners provided the financing. Upon completion, the property, which is being developed by Glenstar and capital partner Creek Lane Capital, will total 3.6 million square feet across five buildings. The first phase of the park, which has been dubbed Cherokee Commerce Center 85 (CCC-85), will comprise a 555,520-square-foot building expandable to 1.3 million square feet. The building, known as 2A, will feature 232 dock doors, four drive-in doors, 540 parking spaces and 452 trailer spaces. Completion is scheduled for fall 2024. Subsequent phases of CCC-85 will include four additional warehouses totaling 1.7 million; 252,270; 278,200; and 211,640 square feet, respectively. The project team includes general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will manage leasing at the property on behalf of ownership.
DELRAY BEACH, FLA. — BBX Logistics Properties and PCCP have formed a joint venture to develop BBX Park at Delray, a 672,533-square-foot logistics campus in Delray Beach. The joint venture has acquired 40 acres along U.S. Highway 441 for the project. Upon completion, the property will feature three buildings, with the first phase comprising a 200,000-square-foot building. Construction is scheduled to begin in the first quarter of 2024. BBX has contributed $2.9 million to the joint venture and plans to expend an additional $2.5 million in development costs.
SALISBURY, N.C. — Halstatt Real Estate Partners and Tectonic Real Estate will develop a two-building industrial property totaling 614,220 square feet in Salisbury. Upon completion, the campus will feature 60-foot speed bays in both buildings, as well as 505 parking spaces and 165 trailer spaces. A construction timeline was not disclosed.
PFLUGERVILLE, TEXAS — A joint venture between High Street Residential and a fund managed by CBRE Investment Management has begun construction on The Merle at Howard, a 444-unit apartment community that will be located in the northern Austin suburb of Pflugerville. The garden-style property, which represents Phase I of a larger development, will consist of 15 apartment buildings and five townhome buildings on a 17-acre site. Amenities will include a pool, fitness center, pet park, coworking space and a golf simulator lounge. Delivery is scheduled for fall 2025. Project partners include Meeks + Partners (architect), HR Green (civil engineer) and Provident General Contractors. The larger development will ultimately comprise about 1,400 units across 60 acres that will be constructed over three phases. As part of the project, the joint venture will also construct a six-acre public park with pickleball courts, basketball courts, playgrounds and walking trails.
RICHARDSON, TEXAS — Mapletree, a global investment firm based in Singapore, has begun renovations on the 215,394-square-foot Building C at Galatyn Commons, an office campus located in the northeastern Dallas suburb of Richardson. The development consists of four buildings totaling 800,000 square feet. Upgrades at Building C will cover the lobby, fitness center, tenant lounge, collaboration spaces and elevator landings and will mark the completion of a larger value-add program. Galatyn Commons also features a food hall with 300-seat dining area, coffee shop, grab-and-go food service and an outdoor kitchen with grill stations, as well as an amphitheater with a 1,000-seat capacity, 150-seat conference center and multiple collaboration areas. Cushman & Wakefield has been tapped to lease the renovated space.
PLANO, TEXAS — Dallas-based Rosewood Property Co. has begun leasing The Ludlow, a 326-unit apartment community that is located within the Heritage Creekside master-planned development in Plano. Designed by Hensley, Lamkin, Rachel Inc., The Ludlow offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and designer backsplashes, as well as private balconies and workspaces. The amenity package comprises a pool, fitness center, coworking spaces, a clubroom and a golf simulator. Full completion is slated for the end of the year. Rents start at $2,150 per month for a one-bedroom apartment.