PLAINFIELD, ILL. — Wingspan Development Group has opened Sixteen30, a 284-unit luxury apartment complex in Plainfield, about 40 miles southwest of Chicago. Featuring eight garden-style buildings surrounding a 7,500-square-foot clubhouse and pool, Sixteen30 is currently 80 percent leased. The clubhouse includes a great room, coffee bar, fitness center, demonstration kitchen, pet spa and office suites. The property also includes a 24-hour package room. Outdoor amenities include a bocce ball court, two dog parks, a fire pit and grills. Units range from 600 to 1,500 square feet. Wingspan’s sister company, Nicholas & Associates, performed the construction. Lincoln Property Co. is overseeing leasing and property management. Monthly rents start at $1,600. The name Sixteen30 comes from the property’s address near the intersection of Lincoln Highway and U.S. Route 30. Lincoln was the 16th president of the United States.
INDIANAPOLIS — Co-developers HVAF of Indiana Inc. and Woda Cooper Cos. Inc. have completed Proctor Place, a $12.6 million affordable housing community in Indianapolis. The 61-unit property is located at 240 N. Warman Ave. and is available for residents who earn 30 to 80 percent of the area median income. The Indiana Housing & Community Development Authority provided housing tax credits for the project, and the City of Indianapolis Department of Metropolitan Development provided a Payment in Lieu of Taxes (PILOT) to support the development. Indianapolis Housing Agency provided project-based vouchers for 15 units to be set aside for homeless veterans. Other financial partners include Fallbrook Opportunity Zone Fund II LLC, Fifth Third Bank and Cedar Rapids Bank & Trust. HVAF will oversee supportive services at the property. Woda Construction Inc. was the general contractor and Woda Cooper’s management arm will oversee day-to-day operations.
COWETA COUNTY, GA. — FREYR Battery (NYSE: FREY), a Luxembourg-based battery manufacturer focused on sustainability, has announced plans to open a new plant in Coweta County, about 40 miles south of Atlanta. The project represents a total capital investment of approximately $2.6 billion. The exact location of the manufacturing facility, which will be known as Giga America, was not disclosed. However, The Atlanta Journal-Constitution reports that the site will span 368 acres and will be situated near distribution centers for Amazon and Shopify. All of these facilities offer proximity to I-85, which connects Atlanta with Coweta County. Community and company leaders expect to create more than 700 new jobs over the next seven years. A timeline for completion was not disclosed. The local newspaper also reported that FREYR Battery considered more than 150 sites across 25 different states before settling on this specific location. The company’s products are designed to decarbonize transportation and energy systems, including as components of electric vehicles. “As we advance our U.S. expansion plan in cooperation with our key stakeholders, we expect to make meaningful investments to spur job creation and the eventual development of localized, decarbonized supply chains in the U.S. to enhance energy security …
NASHVILLE, TENN. — RMR Group is underway on Station East, an 18-acre mixed-use development located at 111 N. First St. in the East Bank neighborhood of Nashville. Designed by Hastings Architecture, the development will feature 1,400 residential units, 1.2 million square feet of office space, over 600 hotel rooms, 2.9 acres of green space and 225,000 square feet of retail space. A project timeline was not disclosed.
ATLANTA — Locally based Galerie Living has received approval from DeKalb County commissioners for its redevelopment of a portion of Emory University’s Briarcliff campus in Atlanta. Galerie Living will develop and operate a new 500-unit seniors housing community that will be known as Corso Druid Hills. The community will feature independent living options such as cottages and apartments in one- and two-bedroom layouts, as well as assisted and memory care living. Emory University entered into the lease agreement with Galerie earlier this year. More details on the project are scheduled to be disclosed in the spring of next year.
DETROIT — Real estate owner and developer Bedrock has partnered with Raeden, a digital infrastructure platform provider, to open the first carrier hotel in downtown Detroit later this month. Carrier hotels are buildings that house networks and cloud services in the center of a downtown area. Raeden specializes in enabling technology deployments across real estate portfolios. The carrier hotel, which will be located within Bedrock’s 615 West Lafayette property, will centralize internet connectivity and technology services while making efficient use of existing fiber assets. Instead of each building within Bedrock’s portfolio requiring individual internet and technology installations, centralization at 615 West Lafayette decrease deployment timelines and lower costs, according to Bedrock. The result will enable Bedrock tenants the ability to access faster services, while enabling expanded internet access throughout Detroit. Over the next 12 months, Bedrock and Raeden will continue to collaborate on additional technological investments, including activating existing data center assets.
LANSING, ILL. — Skender, in conjunction with joint venture partner Ashlaur Construction, has completed construction of Torrence Place in Lansing, a southern suburb of Chicago. Developed by Full Circle Communities, the three-story affordable housing project features 48 accessible and adaptable units mainly intended for veterans and people with disabilities. The building also includes a 3,600-square-foot health clinic and pharmacy that will be operated by Christian Community Health Center. Resident amenities include a community lounge, library, computer lab, onsite laundry, storage lockers, a fitness center and onsite supportive services. The project team also included architect Cordogan Clark & Associates and CAGE Civil Engineering.
TIFFIN, IOWA — Fridley Theatres, a movie theater company headquartered in Des Moines, has unveiled plans to open an 80,000-square-foot theater and entertainment center at the Park Place mixed-use development in Tiffin, about 20 miles south of Cedar Rapids. The project will be named The Palms Theatres, IMAX & Family Entertainment Center. Construction is expected to begin next year. Ders Group is the developer of Park Place.
AURORA, COLO. — Hyde Development and Mortenson will partner to construct a build-to-suit industrial facility for Xcel Energy, which acquired a 10-acre site from the developers for $2.7 million. Situated within the 5 million-square-foot HighPoint Elevated industrial park, the asset will feature a 40,000-square-foot facility and five acres of yard space. Construction of the facility will begin in first-quarter 2023. The property will be the future home of an Xcel Energy service center/office and warehouse facility with outside storage. Daniel Close, Todd Witty, Tyler Carner, Jeremy Ballenger and Jessica Ostermick of CBRE represented the Hyde Development in the land sale to Xcel Energy. The CBRE team is marketing HighPoint Elevated for lease and sale opportunities with build-to-suit and speculative construction options.
SANTA ROSA, CALIF. — Buchanan Mortgage Holdings, an affiliate of Newport Beach, Calif.-based Buchanan Street Partners, has provided a $35.5 million non-recourse senior construction loan for the development of an apartment community located at 888 Fourth in downtown Santa Rosa. Construction was approximately 50 percent completed at the time of loan closing. Totaling 108 apartments, the multifamily property will offer unobstructed views from all units, a rooftop hot tub, third-level recreation terrace, ground-level picnic area and a fitness center. The market-rate multifamily property is slated to open in mid-2023. The name of the borrower was not released.