LAKEWAY, TEXAS — Locally based developer Legend Communities has broken ground on a 360-unit residential project in Lakeway, located northwest of Austin, that will comprise 210 age-restricted multifamily units and 150 single-family homes of various styles. The project, which will also deliver multiple pieces of new infrastructure, represents Phase I of The Square at Lohmans, a $500 million development that will include office, hospitality and retail/restaurant uses. DTJ Design provided architectural services for the project, with Carlson, Brigance & Doering Inc. serving as civil engineer. Completion of Phase I is slated for late fall 2023.
WILMINGTON, N.C. — Wells Fargo has provided Banyan Residential with a $64.5 million loan to finance the construction of Banyan Silo Ridge, a single-family rental community located in Wilmington. The development, which spans 75 acres, will offer homes in two-, three- and four-bedroom layouts. Each home will feature a one- or two-car attached garage and a private backyard. Community amenities include a 4,000-square-foot clubhouse, fitness center, pool, landscaped grounds and a fenced dog park. Construction is underway on the property, with completion scheduled for the third quarter of 2024 and the first homes expected to be delivered in early 2023.
WHARTON, N.J. — New Jersey-based developer Diversified Properties has broken ground on a 60-unit multifamily project in the Northern New Jersey community of Wharton. Irondale at Wharton will feature studio, one- and two-bedroom apartments that will be furnished with stainless steel appliances, quartz countertops and full-sized washers and dryers, as well as a gym and underground parking. Construction is expected to be complete in late 2023.
Trammell Crow, CBRE Break Ground on 500,000 SF Cochrane Technology Center in Morgan Hill, California
MORGAN HILL, CALIF. — Trammell Crow Co., along with joint venture partner CBRE Investment Management, has broken ground on Cochrane Technology Center, a Class A industrial park in Morgan Hill. Situated on 30 acres, the speculative development will feature five buildings offering a total of 500,000 square feet. The single-phase Cochrane Technology Center will offer buildings ranging from 73,000 square feet to 138,000 square feet. The property is slated for completion in early 2024. The project team includes HPA as architect of record, Kier and Wright as civil engineer and Mille & Severson as general contractor. Rob Shannon, Chip Sutherland and Brian Matteoni of CBRE will handle marketing and leasing of the property.
SPANISH SPRINGS, NEV. — Panattoni Development has released plans for 420 Ingenuity Ave., a Class A industrial building at the 594-acre, master-planned Spanish Springs Business Center in Spanish Springs, a suburb north of Reno. The 195,000-square-foot facility will offer a combination of light industrial flex space with smaller units divisible to 9,000 square feet, and larger mid-bulk industrial space with unit sizes ranging from 31,500 square feet to 141,000 square feet. Each suite will include a build-to-suit office showroom, dock-high and grade-level door access, 30-foot clear heights, 50-foot by 50-foot column spacing with 60-foot speed bays, skylights and motion sensor LED lighting. Alston Construction will serve as general contractor on the project, which is slated for delivery in fourth-quarter 2023. Groundbreaking is scheduled for this fall.
CHARLESTON, S.C. — Lowe, with construction company BL Harbert International, has completed the vertical construction of The Cooper, a 225-room, waterfront hotel located at 176 Concord St. in downtown Charleston. The hotel will feature 12,000 square feet of ground-floor retail space, a 7,000-square-foot spa and fitness center, almost 20,000 square feet of indoor-outdoor event space, food-and-beverage offerings and an outdoor infinity-edge pool. Lowe is also working with the City of Charleston to expand Joe Riley Waterfront Park at the site by 400 feet. McMillan Pazdan Smith and Robert Glazier were architects for the project, with interior design by Champalimaud Design and landscape architecture by DesignWorks.
LAS VEGAS — Las Vegas-based Growth Holdings has received a $85 million first lien construction loan for the development of Otonomus Las Vegas, a residential and short-term rental property. Slated to open in fourth-quarter 2024, the 303-unit community will feature fully furnished apartments with stainless steel appliances, granite and quartz countertops, tile backsplashes and LED lighting. The four- and five-story complex will offer open floor plans, 10-foot ceilings, walk-in closets and private balconies. Community amenities will include a fitness center, clubhouse, meeting space, lounge areas, three courtyards with picnic and barbecue areas, and two resort-style pools with cabanas. Additionally, the property will feature 38,000 square feet of retail offerings. Brad Ferguson of Dallas-based HALL Structured Finance (HSF) originated the loan. Las Vegas-based CORE Advisory Partners sourced the financing for the project.
BOZEMAN, MONT. — Corning Cos. is currently underway on a $50 million, multi-phase redevelopment of Gallatin Valley Mall, a retail center located in Bozeman. To be known as Gallatin Crossing, the mixed-use property will feature retail, entertainment and medical space, including a 45,000-square-foot medical pavilion that will bring together Intermountain Healthcare and Ortho Montana PSC. Whole Foods Market will also join the property with a location that marks its first in the state. The first phase of development for the project, which began in September 2022, is scheduled for completion later this year. A second phase — which will include façade upgrades, updated parking and refreshed landscaping, signage and lighting — is scheduled to begin in spring 2023. Grossman Development Group, Boston Realty Advisors and Situs Realty Group are working with owner Corning Cos. on the project.
HENDERSON, NEV. — Westport Properties has released plans to develop an industrial property on a recently acquired land site in Henderson. Construction of the single-tenant, 81,511-square-foot facility is slated to begin in first-quarter 2023. Located at the corner of Bruner Avenue and Amigo Street, the building will feature 32-foot clear heights, a secured truck court, ESFR sprinklers, 11 dock doors and 5,000 square feet of office space. Completion is scheduled for fourth-quarter 2023. Amy Ogden of Logic Commercial Real Estate will oversee leasing.
ST. CROIX FALLS, WIS. — Kraus-Anderson Construction has completed a $13.5 million expansion project at St. Croix Falls High School in western Wisconsin. Designed by DSGW, the 28,300-square-foot project consisted of three separate additions to the school. The first component was a 21,100-square-foot fine arts center, which will host theatrical productions, musicals and concerts as well as serve as a large group learning space. The second component was a 6,400-square-foot fitness center and the third was a 300-square-foot wash bay addition to the existing garage.