Development

Matter Real Estate Plans 352-Unit Vestra Apartments in Southwest Las Vegas

by Amy Works December 6, 2022

LAS VEGAS — Matter Real Estate Group is entering the residential real estate market with the planned development of Vestra, a multifamily property situated within its 40-acre UnCommons mixed-use community in southwest Las Vegas. Vestra will feature 352 apartments in a mix of studio, one-bedroom/one-bath, two-bedroom/two-bath and three-bedroom/two-bath layouts spread across three midrise towers. Each residence will offer quartz countertops, modern flat-panel cabinets, walk-in closets, washers/dryers and private lockers for a dry-cleaning service. Onsite amenities will include a pool house; resort-style pool with cabanas; fireplaces and barbecues; indoor/outdoor fitness center; lawn space; pet spa; coworking spaces; flex lounge; and media rooms. The property will also feature a 100 percent controlled access parking garage with electric vehicle charging stations. The community is slated to welcome residents early next year. EDI International designed the building with interiors by Jules Wilson Design Studio.

December 6, 2022

Development Multifamily New York Northeast

Regency Commercial Receives Approval for 185-Unit Multifamily Project in Port Chester, New York

by Taylor Williams December 6, 2022

PORT CHESTER, N.Y. — Locally based developer Regency Commercial has received site plan approval from the Village of Port Chester, located about 30 miles north of Manhattan, for a 185-unit multifamily project. The site spans 221,000 square feet at 208-216 King St. The 12-story building will house studio, one-, two- and three-bedroom units, and amenities will include a rooftop pool, resident lounge, coworking spaces, fitness center and a dog park. About 10 percent of the apartments will be earmarked as affordable housing. Regency is now seeking a partner to either take over or co-develop the property.

December 6, 2022

Development Industrial Southeast Tennessee

CRG Plans 2.8 MSF Industrial Park in Metro Nashville

by John Nelson December 5, 2022

LEBANON, TENN. — CRG has acquired a 200-acre site in Lebanon, roughly 30 miles outside of Nashville, to accommodate a 2.8 million-square-foot industrial park. Upon completion, the project — dubbed The Cubes at Sparta Pike — will comprise four buildings ranging in size from 250,000 to 1.4 million square feet each. Jim Rodrigues of Lee & Associates will handle leasing and marketing of the property on behalf of CRG.

December 5, 2022

Development Multifamily Texas

High Street Nears Completion of 43-Story Multifamily Tower in Downtown Houston

by Taylor Williams December 5, 2022

HOUSTON — High Street Residential is nearing completion of Parkside Residences, a 43-story multifamily tower located at 808 Crawford St. in downtown Houston. Designed by Ziegler Cooper and built by Andres Construction, the property houses 309 units in studio, one-, two- and three-bedroom formats, as well as one- and two-story penthouses. Amenities include a pool, fitness center, coworking lounge, outdoor grilling and dining areas and a catering kitchen. Rents start at $2,130 per month for a studio apartment. Full completion is slated for April 2023.

December 5, 2022

Affordable Housing Development Michigan Midwest Multifamily

Woda Cooper Breaks Ground on $14.7M Affordable Housing Community in Traverse City, Michigan

by Kristin Harlow December 5, 2022

TRAVERSE CITY, MICH. — Woda Cooper Cos. Inc. has broken ground on Annika Place, a $14.7 million affordable housing community in Traverse City. The 53-unit development will be reserved for residents who earn 30 to 80 percent of the area median income. Rental rates are projected to range from $360 to $1,125 per month depending on the income restriction and size of the unit. The Traverse City Housing Commission is providing rental assistance vouchers for eight units. The four-story building will feature amenities such as a community room, computer center, fitness center and rooftop terrace. In honor of the many who serve in the U.S. Coast Guard and the Coast Guard Air Station in Traverse City, Annika Place will honor the memory of Coast Guardsman Douglas Munro by featuring a special lighted flagpole and his namesake for the property’s community room. Munro lost his life at the Guadalcanal in 1942 as a result of heroic measures with his boat that saved the lives of 500 marines. He is the only Coast Guard member to receive the Medal of Honor. Funding for Annika Place comes from Low-Income Housing Tax Credits allocated by the Michigan State Housing Development Authority. Affordable housing finance …

December 5, 2022

Development Multifamily New Jersey Northeast

Accurate Begins Leasing 252-Unit Citizen Bayonne Apartments in Northern New Jersey

by Taylor Williams December 5, 2022

BAYONNE, N.J. — Accurate has begun leasing Citizen Bayonne, a 252-unit waterfront apartment community in Northern New Jersey. Designed by Devereaux & Associates, the property offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and full-size washers and dryers. Amenities include a fitness center, resident lounge, coworking space and a landscaped courtyard with fire pits, grills and a gaming area. Rents start at $2,230 per month for a studio apartment.

December 5, 2022

Development Midwest Mixed-Use Ohio Top Stories

Bedrock, City of Cleveland Unveil Plans for $3.5B Cuyahoga Riverfront Project

by Taylor Williams December 5, 2022

CLEVELAND — A partnership between Detroit-based developer Bedrock and the City of Cleveland has unveiled plans for the Cuyahoga Riverfront, an initiative that will feature 3.5 million square feet of new development and adaptive reuse projects across 35 acres of publicly and privately owned waterfront land. According to multiple news outlets including The Plain Dealer and Spectrum News, the project is valued at $3.5 billion. Preliminary plans for the site call for the addition of approximately 2,000 residential units, 850,000 square feet of office space and 12 acres of open public space, as well as hospitality, retail and restaurant uses. The development team is targeting a 15- to 20-year timeline for full buildout and transformation of the site. In addition, Bedrock partnered with Sherwin-Williams Co. to acquire Landmark Office Towers and the Breen Technology Center. Specific plans regarding the future use of these buildings were not immediately disclosed. The development team — which includes master architect David Adjaye, local firm Osborn Engineering and urban planning firm MKSK — views the site as a natural connective bridge between the Cuyahoga River and downtown Cleveland. Adjaye spent the last several months in Cleveland cultivating a plan to make that vision a reality. …

December 5, 2022

Development Georgia Mixed-Use Southeast

SJC Ventures Tops Out Second Phase of $750M Interlock Mixed-Use Development in Atlanta

by John Nelson December 2, 2022

ATLANTA — SJC Ventures has topped out the second phase of The Interlock, a $750 million mixed-use project located in Atlanta’s West Midtown district. The second phase, built by Choate Construction and anchored by a 42,000-square-foot Publix, features 275,000 square feet of commercial space and 670 units of student housing for Georgia Tech students. Construction on the second phase began in May 2021. Additionally, four new retailers have inked leases at The Interlock. Pinky Promise Champagne Bar, The X Pot — a Korean barbecue and hot pot restaurant, City Nails and GoodVets will join the tenant lineup. Previously announced tenants include Starbucks Coffee, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. Stream Realty Partners is managing leasing for the office space at the development on behalf of SJC Ventures.

December 2, 2022

Development Florida Hospitality Multifamily Southeast

Urban Network Capital Plans $170M Visions Orlando Residential Development

by John Nelson December 2, 2022

ORLANDO, FLA. — Urban Network Capital Group (UNCG) plans to break ground on Visions Orlando, a 42-acre residential and hospitality community in Orlando, in the second quarter of 2023. The $170 million project will feature three components: Illusions, Reflections and Inspirations. Illusions will feature 48 single-family homes in seven- and eight-bedroom layouts, with prices beginning at $799,000. Reflections will comprise 132 townhomes featuring five- and six-bedroom layouts. Pricing for the townhomes will start at $629,000. Inspirations will be the condo hotel component of the development, with 181 one- and two-bedroom units. Prices for these units will begin at $235,000. The property will feature the Disney Good Neighbor Program qualification for the condo hotel and the Disney Vacation Home Rental Program qualification for the single-family residences and townhomes. Initial completions are scheduled for the second quarter of 2024. A 12,000-square-foot clubhouse will feature amenities including a gym, Pilates rooms, yoga deck, steam room, sauna, restaurant, bar, lounges, movie theater, kids room, arcade, business center and driving simulators. Outdoor amenities will include a pool with a waterpark, Jacuzzis, hot tubs, cabanas, a playground, croquet lawn, golf putting, a bikeshare and tennis, volleyball and pickleball courts.

December 2, 2022

Development Industrial South Carolina Southeast

Magnus Begins Construction on Two Buildings at 803 Industrial Park in Columbia, South Carolina

by John Nelson December 2, 2022

COLUMBIA, S.C. — Magnus Development Partners has broken ground on two buildings at 803 Industrial Park, a development in Columbia adjacent to the Columbia Metropolitan Airport. Dubbed Gateway One and Gateway Three, the buildings comprise 252,720 square feet each. Delivery is scheduled for the second quarter of 2023. Magnus will break ground on a third building, the 408,240-square-foot Gateway Two, in the second quarter of 2023. Magnus also plans to develop the Gateway Four building, details of which were not disclosed, at a later date. Colliers manages leasing and marketing at the park on behalf of Magnus.

December 2, 2022

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