Development

Urban Catalyst to Develop 272-Unit Aquino Apartments in San Jose

by Amy Works August 23, 2023

SAN JOSE, CALIF. — Urban Catalyst has launched UC Multifamily Equity I LLC (UCME) to focus on the development of Aquino, a multifamily property within walking distance of downtown San Jose. The project is fully entitled and approved for multifamily construction. The development timeline was not released. Aquino will offer 272 studio, one-, two- and three-bedroom apartments with stainless steel appliances, quartz countertops, electric ranges and air conditioning. On-site amenities will include private coworking offices, a bar and lounge, fitness center with a yoga studio, dog run, and courtyard with an outdoor kitchen. Urban Catalyst has structured UCME as a real estate operating company, which allows it to accept funding from qualified retirement accounts such as IRAs and 401(k) plans.

August 23, 2023

California Development Industrial Loans Western

Birtcher Development Receives $75M Construction Financing for 492,631 SF Logistics Center in Rialto, California

by Amy Works August 23, 2023

RIALTO, CALIF. — Birtcher Development LLC has received $75 million in construction financing for the development of Birtcher Logistics Center Rialto, a Class A logistics facility currently under construction in the Inland Empire city of Rialto. Situated on 21 acres, the 492,631-square-foot property will feature 40-foot clear heights, 62 dock-high doors, 5,642 square feet of ground-floor office space and 5,221 square feet of mezzanine space. Additionally, the site will offer 90 trailer parking spaces and 287 auto parking spaces. Greg Brown, Peter Thompson and Spencer Seibring of JLL Capital Markets’ debt advisory team secured the nonrecourse loan from the lender, Principal Global Investors.

August 23, 2023

Development Leasing Activity Massachusetts Northeast Office Top Stories

LEGO Group’s Americas Division to Relocate to 100,000 SF Office in Boston’s Back Bay

by Kristin Harlow August 23, 2023

BOSTON — The LEGO Group has chosen 1001 Boylston St. in Boston’s Back Bay neighborhood as the location of its new Americas head office when the company relocates in 2026. LEGO first announced in January that it would be relocating from its current base in Enfield, Conn. Samuels & Associates is the developer of 1001 Boylston St., which will feature 450,000 square feet of office and life sciences space, 35,000 square feet of shops and restaurants, new public plazas and a CitizenM hotel over the Massachusetts Turnpike. The project is slated to open in 2024. Amenities at the property will include a fitness center, wellbeing room, parent room and onsite parking and bike storage. The building was designed to achieve multiple sustainability certifications: LEED Gold, WELL Gold and WELL Core Gold v2. Elkus Manfredi served as the project architect. Spread over five floors and more than 100,000 square feet, LEGO’s new office will feature areas for collaboration as well as “concentrative work zones.” The site is accessible for employees walking and cycling to work, and is situated near Green Line and Orange Line public transit stops. LEGO says the location was strategically chosen to draw upon the region’s diverse talent …

August 23, 2023

Development Georgia Leasing Activity Life Sciences Mixed-Use Office Southeast

Trammell Crow Co., GATV Top Out 13-Story Science Square Labs Development in Atlanta

by John Nelson August 22, 2023

ATLANTA — Trammell Crow Co. and partner Georgia Advanced Technology Ventures (GATV) have topped out Science Square Labs, a 13-story research-and-development (R&D) facility located adjacent to the Georgia Tech campus in Atlanta. GATV is a cooperative organization of Georgia Tech. The 368,258-square-foot building is part of the first phase of Science Square, an 18-acre mixed-use development that will offer laboratory, R&D offices, dining options and residences. Brasfield & Gorrie is the general contractor on Phase I of Science Square. Also part of the first phase is a 280-unit residential tower by High Street Residential, an affiliate of Trammell Crow Co. The developers aim to deliver Phase I in the first quarter of 2024. Designed by Perkins & Will, Science Square Labs will feature wet and dry laboratories, collaborative spaces, food-and-beverage outlets, a fitness center, interactive conference rooms, indoor/outdoor lounge, catering kitchen and six “graduator” speculative lab/office suites that will accommodate growing life sciences firms. Additionally, Cherry Street Energy is installing a 38,000-square-foot solar panel array atop the parking garage. The design-build team is aiming for Science Square to achieve LEED Gold and WELL certifications. In addition to the topping out, the ownership group has signed the first tenant at Science …

August 22, 2023

Development Georgia Multifamily Southeast

Mill Creek Residential Breaks Ground on 373-Unit Modera Westside Trail Apartments in Atlanta

by John Nelson August 22, 2023

ATLANTA — Mill Creek Residential has broken ground on Modera Westside Trail, a 373-unit luxury apartment community in Atlanta’s West Midtown neighborhood. The site is located at 576 Northside Drive, which is adjacent to the western boundary of the Georgia Tech campus and one block south of the new Echo Street West mixed-use development. Modera Westside Trail will comprise studio, one-, two- and three-bedroom units, as well as 37 residences under Mill Creek’s proprietary Premium Collection brand that will feature upgraded finishes. The property will feature immediate access to the Atlanta BeltLine’s Westside Trail, as well as a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, steam room, coworking space, resident clubhouse with shuffleboard, onsite dog park and pet spa and a fitness center with cardio equipment, yoga studio, TRX system and Peloton bikes. Other amenities will include digital package lockers, controlled-access garage parking, EV charging stations, loaner bikes, bike repair station, bike storage and additional storage space. Mill Creek is anticipating first move-ins for fall 2025.

August 22, 2023

Development Hospitality Texas

AJ Capital Partners Nears Completion of Adaptive Reuse Project in Waco

by Taylor Williams August 22, 2023

WACO, TEXAS — AJ Capital Partners is nearing completion of Hotel 1928, an adaptive reuse project located at 701 Washington St. in Waco. The project reimagines the historic Grand Karem Shrine Building as a 33-room hotel with multiple onsite food-and-beverage options, as well as a rooftop terrace and 6,000 square feet of meeting and event space. The grand opening is set for Nov. 1. The hotel features “an inspired hospitality experience designed and developed by” Waco residents and TV personalities Chip and Joanna Gaines.

August 22, 2023

Development Industrial Northeast Pennsylvania

PCCP, MRP Industrial Break Ground on 674,000 SF Spec Industrial Project in York, Pennsylvania

by Taylor Williams August 22, 2023

YORK, PA. — A partnership between Los Angeles-based PCCP LLC and MRP Industrial has broken ground on Expressway Commerce Center, a 674,000-square-foot speculative project that will be located west of Philadelphia in York. The development will consist of a 271,000 and 403,000-square-foot building, both of which will have rear-load configurations, 36-foot clear heights and combined parking for 563 cars and 175 trailers. Construction is slated for a third-quarter 2024 completion.

August 22, 2023

Development Industrial Nevada Western

Panattoni Begins Construction of 182,184 SF Simmons Airpark Industrial Building in North Las Vegas

by Amy Works August 22, 2023

NORTH LAS VEGAS, NEV. — Panattoni Development has started construction on Simmons Airpark, a Class A industrial facility at 2880 Simmons St. in North Las Vegas. The asset is valued at $18 million. Completion is slated for April 2024. The 182,184-square-foot building will feature 36-foot clear heights, a full concrete truck court and drive aisles, potential for evaporative cooling or full HVAC and the potential for a fully secured truck court. Panattoni Development will own the property.

August 22, 2023

Affordable Housing Development Illinois Iowa Michigan Midwest Multifamily

Woda Cooper Receives LIHTC Financing for Five New Affordable Housing Communities

by Kristin Harlow August 22, 2023

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois. The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect. In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April. The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect. Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom …

August 22, 2023

Development Kansas Midwest Office

Occidental Management Expands Aspiria NOW Coworking Facility in Overland Park, Kansas

by Kristin Harlow August 22, 2023

OVERLAND PARK, KAN. — Occidental Management has expanded Aspiria NOW, its coworking facility on the Aspiria campus in Overland Park. The expansion extended the coworking space to the third floor of its existing building with an additional 30,000 square feet that includes 11 new private offices, 60 dedicated workstations and increased collaboration areas. The firm has also hired Kathy Todtenhausen to serve as community manager, supporting General Manager Robert Curland in a variety of functions. Aspiria NOW first opened in August 2022 and is now home to more than 28 member companies. Aspiria NOW memberships are available in a variety of flexible plans, including daily, month-to-month and long-term packages. The more than 80,000-square-foot space can accommodate corporations that need temporary spaces for special projects or hybrid workspace options.

August 22, 2023

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