TINTON FALLS, N.J. — Monmouth Medical Center, an affiliate of RWJBarnabas Health, will open a 138,000-square-foot cancer care facility in the Northern New Jersey community of Tinton Falls. The project, which is expected to add about 300 new jobs to the local economy, represents the first phase of redevelopment of the former site of the Myer Center, a Cold War-era industrial facility that was demolished several years ago. Construction of the new facility, which will also offer imaging, radiation and ambulatory surgery services, is set to begin in the first quarter. Plans for Phase II are still being finalized.
ATLANTA — The Metropolitan Atlanta Rapid Transit Authority (MARTA) has signed a 130,000-square-foot office lease at Uptown Atlanta, a 47-acre mixed-use development in Atlanta’s Lindbergh neighborhood. Rubenstein Partners is redeveloping Uptown Atlanta, which is anchored by the Lindbergh Center MARTA Station and home to MARTA’s headquarters. MARTA is moving its Capital Programs, Expansion and Innovation (CPEI) Group to the project’s East Tower. About 540 MARTA employees are relocating to occupy four floors at Uptown Atlanta from 2400 Piedmont Road. Uptown Atlanta features 100,000 square feet of street-level retail space, greenspace and art, as well as 1 million square feet of Class A office space. Rubenstein recently completed the reimagination of the 35,000-square-foot office atrium to include modern amenities and collaborative spaces. Skillshot Media, an esports provider, recently relocated its headquarters to the project and regularly activates the high-tech atrium with global esports events. Rubenstein plans to complete the redevelopment this fall.
INDIANA AND MISSOURI — Flaherty & Collins Properties has unveiled plans for four affordable housing construction projects in Indiana and Missouri. Representing a total of $80 million in costs, the projects all involve renovations or adaptive reuse. Jazz Hill is a $35 million project that will preserve 11 buildings along The Paseo, a historic boulevard in Kansas City. The 197-unit affordable housing community will feature new appliances, HVAC, roofs, flooring, bathrooms, cabinets, lighting and elevators. A partnership with Twelfth Street Heritage Development Corp., the project was financed with 4 percent tax credits from the Missouri Housing Development Commission (MHDC) as well as federal and state historic tax credits and tax-exempt bonds from the Planned Industrial Expansion Authority (PIEA). Merchants Capital is the Low-Income Housing Tax Credits (LIHTC) investor, federal historic tax credit investor and construction lender, and provided Freddie Mac permanent financing. Monarch Capital is the state historic tax credit investor. The city provided $4.2 million in Central City Economic Development (CCED) funds. Parkside at Tarkington is a $16.2 million affordable seniors housing project in downtown Indianapolis. The 60-unit development is an adaptive reuse of the former United Way headquarters building. Flaherty & Collins is partnering with Midtown Indianapolis on …
FRISCO, TEXAS — HALL Group has topped out three new buildings at HALL Park, the locally based developer’s 162-acre mixed-use development in Frisco that for years functioned as a Class A office campus. As part of Phase I of a larger $7 billion redevelopment, HALL Group has now completed vertical construction on a new, 16-story office building, as well as a 224-room boutique hotel and a 19-story multifamily tower. Designed by HKS Architects, the office building spans 410,000 square feet and offers a corporate lounge, fitness center, meeting spaces and a seven-level parking garage. Merriman Anderson Architects designed the hotel, which features 60 suites, 14,000 square feet of meeting and event space and a chef-driven restaurant and lounge. WDG Architects led the design of the multifamily building, which totals 214 units and includes 10,000 square feet of ground-floor space that will house a food hall with 10 different vendors.
FLOWER MOUND, TEXAS — Locally based developer Realty Capital has broken ground on a 200-unit multifamily project in Flower Mound, located in the northern-central part of the metroplex. The 16-story building at 3111 Sunset Blvd. will be situated within a larger 40-acre development. Units will come in one-, two- and three-bedroom floor plans, as well as townhomes, and will feature an average size of 1,485 square feet. The amenity package will comprise a pool with a deck and full-service bar, 24-hour attended lobby with concierge services, a private dining room and a billiards room. Barings provided construction financing for the project, which includes 6,000 square feet of retail space and is slated for a 2025 completion.
PETERSBURG, VA. — Cordish Cos. has announced plans for a $1.4 billion mixed-use project located in Petersburg, roughly 24 miles south of Richmond. Upon completion, the development, dubbed Live! Gaming & Entertainment District, will comprise 4 million square feet, including 600,000 square feet of retail, dining and entertainment space. The property will also include 1,300 residential units, 500 hotel rooms and office space. Built in phases, the project’s first phase will consist of the Live! Casino & Hotel Virginia, pending legislative approval. Plans for the 670,000-square-foot first phase include a 200-room hotel with 20 suites, an events center, 2,000 gambling slots, 60 live-action table games, food-and-beverage options and a sportsbook.
HUNTSVILLE, ALA. — McShane Construction Co. has completed the construction of Laurel at Dry Creek, a 343-unit apartment community in Huntsville. The developer is Gateway Ventures Real Estate. Sitting on 20 acres, the property comprises 16 apartment and townhome buildings housing units in one-, two- and three-bedroom layouts. Designed by Dynamik Design, Laurel at Dry Creek features 7,000 square feet of amenity space, including a fitness center, pool, fire pit, pickleball courts, hammock garden, car wash, dog park and pet-grooming station. The community was 85 percent leased at the time of delivery.
STORRS, CONN. — A joint venture between Georgia-based Landmark Properties and Manulife Investment Management will develop The Standard at Four Corners, an 890-bed student housing project that will be located near the University of Connecticut in Storrs. The project will offer studio, one-, two- and three-bedroom units and amenities such as a pool, study lounges, a fitness center, computer lab and gaming lounge. The community will also feature 14,500 square feet of ground floor retail space. Completion is slated for August 2025.
MIAMI — Law firm Kirkland & Ellis has signed a lease at 830 Brickell, a 55-story office building located in downtown Miami’s Brickell district. The firm will occupy a six-floor, 115,000-square-foot space at the property, which was developed by OKO Group and Cain International. Brian Gale, Ryan Holtzman and Andrew Trench of Cushman & Wakefield represented the landlord in the lease negotiations. Neil Goldmacher, Mitchell Millowitz and Ryan Rosalsky of Newmark and Kevin Kushner of CBRE represented Kirkland & Ellis. Other tenants at the building, which is expected to be 100 percent leased at the time of opening early next year, include Citadel, CI Financial, Microsoft, Thoma Bravo, AerCap and Marsh Insurance. Amenities at the office tower will include a rooftop bar/lounge and restaurant, a health and wellness center, conferencing facilities, an outdoor terrace, cafés and street-level retail space. Adrian Smith + Gordon Gill acted as architect for the project, with interiors by Italian firm Iosa Ghini Associati.
NEW YORK CITY — Newmark has arranged a $535.8 million loan for the acquisition and redevelopment of 25 Water Street, a 1.1 million-square-foot office building in Lower Manhattan, New York City’s historic Financial District. Dustin Stolly, Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan through MSD and Apollo. The seller was not disclosed, but multiple media outlets have reported that Edge Funds sold the asset. The borrowers, GFP Real Estate, Metro Loft Management and Rockwood Capital, will use the funds to convert the 22-story office building into a residential tower housing 1,300 apartments ranging in size from studios to four-bedroom units. The project represents the largest ever office-to-residential conversion in U.S. history, according to Newmark. The office building, formerly known as 4 New York Plaza, was once anchored by JPMorgan Chase & Co. The financial giant recently unveiled plans for its newly revamped headquarters at 270 Park Ave. in Manhattan. Built in 1969, 25 Water Street features 12-foot, 4-inch slab-to-slab ceiling heights and 40,330-square-foot floor plates, which will give future residents direct views of the Lower Manhattan skyline and the New York Harbor from all floors. The property is situated on a double-wide street corridor with the widest …