Saturday, August 2, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

DevelopmentGeorgiaLoansMixed-UseMultifamilySoutheast

Middle Street, AECOM-Canyon Obtain $245M Construction Financing for Midtown Atlanta Multifamily Project

by John Nelson

ATLANTA — A joint venture between developers Middle Street Partners and AECOM-Canyon Partners has obtained $245 million in construction financing for its two-tower multifamily project situated a block from Piedmont Park in Midtown Atlanta. Eastdil Secured arranged the financing through Bank OZK and Related Fund Management on behalf of the developers. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia advised Middle Street in the transaction. The unnamed development will occupy a full city block on Juniper Street between 11th and 12th streets. The project will include a north tower and south tower totaling 487 apartments, and each tower will feature an undisclosed amount of ground-floor retail space. The developers plan to break ground immediately. The project team includes general contractor Brasfield & Gorrie, architect Brock Hudgins and interior designer CID Design Group.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityMixed-UseMultifamilySoutheastVirginia

PREIT Receives Approval for New Apartments, Hotel at Springfield Town Center in Metro D.C.

by John Nelson

SPRINGFIELD, VA. — PREIT, a retail REIT based in Philadelphia, has received approval from the Fairfax County Board of Supervisors for the development of two empty land parcels at Springfield Town Center, a mixed-use campus located in Springfield, roughly 14 miles outside of Washington, D.C. Two separate entities are under agreement to purchase and develop the parcels. One of the buyers, Intermountain, will construct a 165-room hotel, and the other, Hanover, will build a 460-unit multifamily community. Together, the sales price for the two parcels totals approximately $20 million. Built in 2017, Springfield Town Center is anchored by a 1 million-square-foot mall housing Target, Regal Cinemas, Macy’s, JCPenney, LOFT, H&M and a food court, among other retailers.

Continue Reading
FacebookTwitterLinkedinEmail
AlabamaDevelopmentMultifamilySoutheast

RCP Cos. to Develop $108M Wellory Living Apartments at MidCity Campus in Huntsville

by John Nelson

HUNTSVILLE, ALA. — RCP Cos. plans to develop Wellory Living, a new 328-unit multifamily development coming to the developer’s MidCity District in Huntsville. The $108 million property is designed to achieve “net-zero energy status” and a reduced carbon footprint by utilizing solar PV panels, smart thermostats and a reflective roof, among other features. RCP has partnered with Grounded Capital Partners on the project. Situated on 4.2 acres at the corner of Old Monrovia Road and Stax Street, Wellory Living will span six stories and feature 13,582 square feet of ground-floor retail space, coworking spaces, a rooftop lounge and an outdoor terrace. The project team includes debt lender Pinnacle Financial Partners, architect Lord Aeck Sargent and general contractor ARCO Murray. RCP plans to break ground on Wellory Living this winter and deliver the property by summer 2025.

Continue Reading
FacebookTwitterLinkedinEmail
111-Soledad-St.-San-Antonio
DevelopmentHospitalityTexas

Winston Hotels Completes 343-Room Adaptive Reuse Project in San Antonio

by Taylor Williams

SAN ANTONIO — Winston Hotels, a North Carolina-based owner-operator, has completed an adaptive reuse project in San Antonio’s RiverWalk area. The project converted a former office building at 111 Soledad St. into a dual-branded hotel with 343 rooms across the Element by Westin (162 rooms) and AC by Marriott (181 rooms) brands. Guests at both hotels will have access to a fitness center, business center, 4,000 square feet of meeting and event space and a rooftop bar and lounge.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialTexas

Box Investment Group to Develop 156,090 SF Industrial Project in Denton

by Taylor Williams

DENTON, TEXAS — Dallas-based developer Box Investment Group will build M380 Business Park, a 156,090-square-foot industrial project in the North Texas city of Denton. The site is located at the corner of North Masch Branch Road and State Highway 380 and will house four freestanding buildings that can be marketed to users with a variety of square footage requirements. Construction is scheduled to begin early next year and to be complete in the first quarter of 2024.

Continue Reading
FacebookTwitterLinkedinEmail
50-Robert-Milligan-Parkway-Merrimack-New-Hampshire
DevelopmentIndustrialNew HampshireNortheast

Trammell Crow, Diamond Realty to Develop 323,750 SF Industrial Project in New Hampshire

by Taylor Williams

MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments will develop a 323,750-square-foot industrial project in Merrimack, located in the southern part of the Granite State. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter of 2023.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilyNew JerseyNortheast

Prism Capital Begins Leasing 252-Unit Multifamily Project in Dunellen, New Jersey

by Taylor Williams

DUNELLEN, N.J. — Locally based developer Prism Capital Partners has begun leasing The Nell, a 252-unit multifamily project in the Central New Jersey community of Dunellen. Designed by Spiezle Architectural Group, the transit-oriented property offers one- and two-bedroom units and includes 3,700 square feet of retail space. The amenity package comprises a pool, fitness center, resident lounge, community kitchen, meeting rooms, an outdoor bar with TVs and grilling and dining areas. Rents start at $2,140 per month for a one-bedroom apartment.

Continue Reading
FacebookTwitterLinkedinEmail
470-Park-Avenue-Manhattan
DevelopmentNew YorkNortheastOffice

SJP Properties, PGIM Complete $15M Renovation of Manhattan Office Building

by Taylor Williams

NEW YORK CITY — SJP Properties and PGIM Real Estate have completed a $15 million renovation project at 470 Park Avenue, a 300,000-square-foot office building in Manhattan. The multi-year project refreshed the building façade, replaced windows to increase natural lighting, delivered custom buildouts of select suites, upgraded infrastructure, improved sustainability systems and modernized the elevator system. Ownership also added a new tenant lounge and outdoor space for meetings, presentations and conferences and updated the building’s retail space.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesLoansNortheastPennsylvaniaTop Stories

JLL Arranges $290M Construction Loan for Life Sciences Project in Philadelphia’s University City Neighborhood

by Jeff Shaw

PHILADELPHIA — JLL Capital Markets has arranged a $290 million construction loan for project partners Gattuso Development Partners and Vigilant Holdings of New York to build a new research facility and life sciences development in the heart of Philadelphia’s University City submarket. The development will be the largest life sciences research and lab facility in the city, according to JLL. Located at 3201 Cuthbert St., the 11-story development features 519,647 square feet of wet lab and dry space, 11,908 square feet of street-level retail space and 137 underground parking stalls. SmartLabs and Drexel University have preleased 45 percent of the lab space. This will be SmartLab’s first location in a market outside of San Francisco or Boston. Infrastructure will include lab-friendly column spacing, expanded floor-to-floor heights, an HVAC system designed specifically for lab research, best-practice chemical storage space and ph neutralization capability, and six enclosed loading docks. Robert A.M. Stern Architects designed the property to meet LEED Gold certification. University City spans 2.4 square miles and is home to one of the largest concentrations of health systems, teaching institutions, life sciences, biotech and pharmaceutical companies in the world. “We believe the project validates Philadelphia’s emergence as a global hub for …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMixed-UseMultifamilyOfficeRetailSoutheast

Related, Rockpoint Start Construction of Mixed-Use Project in Miami’s Wynwood Neighborhood

by Jeff Shaw

MIAMI — Related Group and Rockpoint have broken ground on WNWD21, a mixed-use project located in the Wynwood neighborhood of Miami. Upon completion, which is scheduled for the third quarter of 2024, the development will comprise two 12-story buildings with 304 apartments, 18,000 square feet of retail and 63,000 square feet of office space. Apartment units will feature studio, one-, two- and three-bedroom layouts, with amenities including a rooftop pool deck, health and wellness facilities, private theater and music room, resident-only dining, coworking space and an art collection. Cohen Freedman Encinosa & Associates Architects will act as architect for the project, with interior design by iddi Design. Beauchamp Construction Co. is the builder.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts