LOCKHART, TEXAS — Titan Development has broken ground on Building 1 at Lockhart 130 Industrial Park in Central Texas, a project that will add 167,794 square feet of industrial space to the local supply. The rear-load building will feature 32-foot clear heights, 36 dock doors and a 60-foot speed bay. Completion is slated for the fourth quarter of 2023. At full buildout, Lockhart 130 Industrial Park will consist of four buildings totaling roughly 650,000 square feet across 45 acres.
FORT MYERS, FLA. — A joint venture between two Miami-based developers, Global City Development and Gilu Development, plans to develop a $90 million multifamily project in Fort Myers. The companies purchased the site, a 17- acre parcel on the corner of Crystal Drive and 6 Mile Cypress Parkway, in August. The unnamed, 255-unit gated property will comprise one-, two- and three-bedroom residences ranging in size from 786 to 1,690 square feet. Amenities will include private garages, outdoor exercise areas and a two-story clubhouse that will feature a fitness center, meditation area, children’s playroom, private Zoom studios, coworking space, event room, onsite management office, package room and a pool overlooking the community’s private lake. The development team, including general contractor ANF Group Inc., plans to break ground in January 2023 with a completion date set for second-quarter 2024.
NEW YORK CITY — A partnership between National Real Estate Advisors and Taconic Partners has topped out a 33-story apartment building in Midtown Manhattan. The building at 312 W. 43rd St. is located at the confluence of the Times Square and Hell’s Kitchen neighborhoods and will house 330 apartments and 42,000 square feet of retail space. In addition, the property will offer 28,000 square feet of indoor and outdoor amenities. Handel Architects designed the building, and Triton Construction is serving as the general contractor. Full completion is slated for fall 2024.
DENVER — Cleveland-based The Max Collection and Denver-based NAVA Real Estate Development have broken ground on Wilder, a multifamily property located at 1521 Hooker St. in Denver. Davis Partnership Architects designed the project, which will feature 196 apartments, co-working spaces, ample outdoor access, two rooftop terraces, a plunge pool, fitness center and yoga studio. Completion is slated for late 2024. Saunders Construction is serving as general contractor.
FORT WAYNE, IND. — Clayco will renovate and expand the East Terminal at Fort Wayne International Airport in Indiana. Construction is scheduled to begin in May and includes the renovation of approximately 10,500 square feet of concourse area as well as the expansion of roughly 5,000 square feet of space designated for airport operations. Mead & Hunt is the project architect. Plans also call for relocating all airline gates and passenger boarding bridges to the second level, expanding the TSA security checkpoint area, relocating the airport restaurant, and creating a new frequent flyer lounge. Clayco will demolish existing interior and structural components to expand the building outward and vertically over the first floor. Completion of the project is slated for June 2025.
HOUSTON — Chicago-based Brennan Investment Group has acquired 12 acres at the intersection of Kirby Drive and North Spectrum Boulevard in South Houston for the development of a 216,004-square-foot industrial facility. The rear-load building will feature 36-foot clear heights, 175-foot truck court depths and an ESFR sprinkler system. Construction is scheduled to begin in early January and to be complete by the fourth quarter of 2023.
KISSIMMEE, FLA. — LV Lending has arranged an undisclosed amount of construction financing for Phase I of the expansion of Reunion Resort, a 2,226-acre resort community located in the Orlando suburb of Kissimmee. The borrower is Orlando Reunion Development LLC, a related company wholly owned by the same principle of Kingwood Orlando Reunion Resort LLC. The 31.6-acre expansion spans two contiguous parcels surrounding the property’s 10-acre Crystal Lagoon. The expansion will feature 1,800 vacation rental homes and townhomes and a hotel, as well as an amphitheater for events. The $1 billion expansion will take place over five phases and several years. Groundbreaking is slated to begin in 2024. Existing uses at Reunion Resort include thousands of luxury homes, villas and condominiums; three championship golf courses; seven food-and-beverage outlets; waterparks; 11 pools; a rooftop pool and private club faculty; and conference areas.
SILVER SPRING, MD. — A joint venture between CP Capital and The NRP Group plans to develop White Oak, a 390-unit, wrap-style apartment community in Silver Spring, a suburb of Washington, D.C. The developers expect to break ground in the first quarter of 2023. First units are expected to deliver in the third quarter of 2024, with construction expected to be completed in the second quarter of the following year. The site will give future renters direct access to Montgomery County’s new FLASH Bus Rapid Transit System, MD Route 29, I-95 and the MD-200 Intercounty Connector. The five-story community will feature some townhome-style units, as well as an enclosed courtyard, sundeck and pool, outdoor cooking and dining areas, work-from-home amenities, dog park, pet spa and a fitness center. White Oak marks the second time CP Capital, formerly known as HQ Capital Real Estate, has partnered with The NRP Group, having previously developed the Rockwell in Massachusetts.
LOVELAND, COLO. — BH Developers, with Evergreen Industrial as general contractor, has broken ground on Airpark North, a freestanding industrial building located adjacent to the Fort Collins/Loveland Airport in Loveland. Situated on four acres, the building features 30,000 square feet of warehouse space and two 3,000-square-foot mezzanines. The property also features 21-foot clear heights, six loading doors, a 1.5-acre laydown yard behind the building and retention pond. Completion is slated for June 2023. Travis Ackerman of Cushman & Wakefield and Matt Haskell of URealty are handling marketing efforts for the project.
SCOTTSDALE, ARIZ. — Real estate development firm Optima has received city approval for Optima McDowell Mountain Village, a $1 billion apartment and condominium project in North Scottsdale. Plans call for six buildings comprising 1,330 luxury units as well as 36,000 square feet of commercial and retail space. Construction is scheduled to begin in spring or summer 2023. Each of the six buildings within the development will contain its own amenity offering, including a rooftop deck with Olympic-length pool, sauna, spa, running track, outdoor kitchen and lounge seating. Each rooftop will offer views of the McDowell Mountains. The ground floor of each building will be outfitted with a lobby, fitness center, yoga studio, steam room, game room, theater, indoor basketball and pickleball court, golf simulator, massage room, business center and dog park. The project will be the largest private rainwater harvesting site in the U.S., according to the developer. The residences are expected to use half as much water as the average Scottsdale multifamily residence and a quarter as much water as the average Scottsdale single-family home. Optima is also providing the city with 2,750 acre-feet of water that will be deposited into the Scottsdale water system. The community will also …
