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DevelopmentMultifamilyTexas

Sueba USA Breaks Ground on 269-Unit Multifamily Project in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Locally based developer Sueba USA has broken ground on Imperial Oaks Square, a 269-unit multifamily project in the northern Houston suburb of Spring. The site is located within Falls at Imperial Oaks, a 686-acre master-planned development by Holcomb Properties, and is adjacent to the 100-acre Lake Holcomb. Units will come in one-, two- and three-bedroom floor plans and will range in size from 496 to 1,594 square feet. Amenities will include a pool, fitness center, outdoor grilling and dining areas, a dog park, business center and a catering kitchen. Preleasing will begin in July 2024.

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DevelopmentMultifamilySeniors HousingTexas

Watermark Opens 231-Unit Seniors Housing Community in Georgetown, Texas

by Taylor Williams

GEORGETOWN, TEXAS — Arizona-based owner-operator Watermark Retirement Communities has opened The Hacienda at Georgetown, a 231-unit luxury property in Georgetown, approximately 25 miles north of Austin. The apartments feature one- and two-bedroom options and offer independent living, assisted living, short-term stays or memory care. Amenities include a fitness center, salon/spa, courtyard and other various onsite dining and wellness programs.

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1-Java-St.-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Lendlease Breaks Ground on 834-Unit Waterfront Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — Developer Lendlease has broken ground on 1 Java Street, an 834-unit waterfront multifamily project in Brooklyn’s Greenpoint neighborhood. Designed by architecture firm Marvel, the development will comprise five interconnected buildings across a full city block. In addition, 1 Java Street will house 13,000 square feet of retail and restaurant space, and 30 percent of the units will be reserved as affordable housing. A syndicate of lenders led by Bank of America provided $360 million in construction financing for the project, which Lendlease is developing in partnership with Australian pension fund Aware Super. Completion is slated for late 2025.

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DevelopmentFloridaMixed-UseSoutheast

LD&D to Develop $200M Mixed-Use Project in Tampa

by John Nelson

TAMPA, FLA. — LD&D has acquired a two-acre parcel located at 1101 E. Harrison St. in Tampa, where the Miami-based firm will develop a $200 million mixed-use project. LD&D purchased the vacant land, which is situated within the master-planned ENCORE! Redevelopment district, from the Tampa Housing Authority for $10 million. Luis Flores of Saul Ewing arranged the sale on behalf of LD&D, with Maxim Capital group providing a $7.1 million acquisition loan. Designed by Baker Barrios Architects, plans for the development include a 28-story multifamily building with 369 units, a 178-room hotel, a 586-space parking podium and 32,500 square feet of ground-floor retail space. The groundbreaking is scheduled for the fourth quarter of this year.

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Affordable HousingDevelopmentFloridaMultifamilySeniors HousingSoutheast

Miami Jewish Health, McDowell Housing Break Ground on $137M Affordable Seniors Housing Project in South Florida

by John Nelson

PEMBROKE PINES, FLA. — Miami Jewish Health (MJH) and McDowell Housing Partners have broken ground on Douglas Gardens Residences, a 410-unit affordable seniors housing community in Pembroke Pines, approximately 20 miles north of Miami. Development costs for the project, which will combine healthcare and housing, are estimated at $137 million. Of the total units, 390 will be reserved for age- and income-qualified residents, while the remaining 20 will be market rate. The project team includes general contractor ANF Group; engineer and landscape designer Keith & Associates; REPRTWAR Architecture and Design; interior designer Jewel Toned Interiors; and law firm Nelson Mullins. Douglas Gardens Residences is scheduled for completion in late 2024. Financing for the project includes $77 million in tax-exempt bonds issued by Broward County Housing Finance Authority (HFA) via Citi Community Capital Bank, $50 million syndicated through affordable housing investment company CREA, a $14 million subordinate loan from Broward County’s Housing Trust Fund, $12 million in seller take-back financing from MJH and $12 million in developer equity contributions.

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DevelopmentGeorgiaMultifamilySoutheast

Novare, BCDC Begin Construction on 302-Unit Apartment Community in Metro Savannah

by John Nelson

RICHMOND HILL, GA. — Novare Group and Batson-Cook Development Co. (BCDC) have broken ground on a 302-unit apartment community in Richmond Hill, roughly 20 miles outside of Savannah. Upon completion, the property will form the multifamily component of the 7,000-acre master-planned, mixed-use development Heartwood at Richmond Hill. Designed by Humphreys & Partners Architects, the community will feature amenities including a swimming pool with cabanas, an outdoor deck with kitchen space, a fire pit, fitness center, flexible workspace, dog park, detached parking garages and carports. Classic Plains is the general contractor, and Trustmark National Bank and Atlantic Union Bank are providing financing for the project. Delivery of the first units is scheduled for the third quarter of 2024.

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DevelopmentGeorgiaMixed-UseMultifamilySoutheast

Portman, National Real Estate Advisors Top Out 370-Unit Residential Tower in Midtown Atlanta

by John Nelson

ATLANTA — Portman and National Real Estate Advisors have topped out Sora at Spring Quarter, a 370-unit residential tower located at the corner of Spring and 10th streets in Atlanta’s Midtown neighborhood. Upon completion, the property will feature 11,000 square feet of ground-floor retail space, an infrared sauna, fitness centers, golf simulators, outdoor lawn areas, party rooms, coworking spaces, a pet run and spa, sky lounge, swimming pool and a media room. Sora is the first phase of Portman’s larger Spring Quarter mixed-use development, which will be anchored by The Patterson, an existing funeral home that will be preserved, as well as a 525,000-square-foot office tower called 1020 Spring and 40,000 square feet of retail space. The first units of Sora are scheduled for delivery this summer.

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DevelopmentMixed-UseRestaurantSoutheastTennessee

Monday Night Brewing to Open Taproom at Kern’s Bakery Mixed-Use Development in Knoxville

by John Nelson

KNOXVILLE, TENN. — Atlanta-based brewery Monday Night Brewing will open a taproom within Kern’s Bakery Food Hall at Kern’s Bakery, a 16-acre mixed-use development currently underway in Knoxville. The taproom, which will mark Monday Night’s sixth location and second in Tennessee, will comprise 3,000 square feet with access to a patio and the 7,000-square-foot event lawn. Monday Night will also manage the primary bar for the food hall, two separate rooftop patio bars and a smaller bar near the interior performance stage. The food hall comprises the second phase of Four Stones Real Estate’s project, the first phase of which consists of a 310-unit apartment community called Flagship Kerns that opened last year.

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Affordable HousingCaliforniaDevelopmentMultifamilyWestern

EAH Housing Begins Construction of 76-Unit Mission Paradise Affordable Community in Hayward, California

by Jeff Shaw

HAYWARD, CALIF. — EAH Housing has broken ground on Mission Paradise, an affordable seniors housing community in the Bay Area city of Hayward. DAHLIN Group designed the property, which J.H. Fitzmaurice Inc. is building.  The two-tower Mission Paradise is an apartment community for seniors with income levels ranging from 20 percent to 80 percent of the area median income (AMI). The property will include a total of 76 apartments, with 15 units specifically reserved for formerly homeless individuals and families, 11 of which are designated ‘No Place Like Home’ units reserved for households with an individual with a severe mental illness.  Financing participants include Chase, City of Hayward, County of Alameda, CA Department of Housing and Community Development – Accelerator, and MHP.

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DevelopmentIllinoisMidwestOffice

Skender Completes 81,000 SF Office Headquarters Build-out for Avant at Chicago’s Merchandise Mart

by Kristin Harlow

CHICAGO — Skender has completed an 81,000-square-foot office headquarters build-out for Avant at the Merchandise Mart in Chicago. The financial technology company’s new office features open workstations, multiple cafes and a mix of collaboration, conferencing andfocus spaces. The new workspace doubles Avant’s presence in Chicago. The firm relocated from 222 N. LaSalle St. The project team included CBRE as tenant representative, Gensler as architect and Syska Hennessy Group as engineer. Skender is currently working with Merchandise Mart owner Vornado Realty Trust on a repositioning initiative for the property. 

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