Development

Freehill Development to Build 227,200 SF Industrial Project in Leander, Texas

by Taylor Williams April 14, 2023

LEANDER, TEXAS — Locally based firm Freehill Development Co. will build Hero Way West, a 227,200-square-foot industrial project that will be located on a 16.8-acre site in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings with 28-foot clear heights. Charlie Strauss, Tom Weber, Trent Agnew and Josh Villarreal of JLL arranged joint venture equity with an undisclosed partner for the capitalization of the project. Michael Johnson and Chris McColpin, also with JLL, arranged floating-rate construction financing. Construction is set to begin this summer and to last about 12 months.

April 14, 2023

Development Florida Southeast Student Housing

AARE Sunbelt, JW Capital Top Out 22-Story Terrazul Student Housing Development Near Florida International University

by John Nelson April 14, 2023

SWEETWATER, FLA. — AARE Sunbelt, an affiliate of Adam America Real Estate, and JW Capital Management have topped out Terrazul, a 22-story student housing development near Florida International University in Sweetwater. Upon completion, which is scheduled for the second quarter of 2024, the development will comprise 932 units and a total of 1,201 beds. Located along 107th Avenue, the property will also feature 647 parking spaces and 15,442 square feet of retail space. Amenities at Terrazul will include an indoor/outdoor study lounge, library and lounge areas, a gym and outdoor swimming pool. Units will feature private studio, one-, two- and four-bedroom layouts. Coastal Construction Group is the general contractor for the project, and Niles Bolton Associates is the architect.

April 14, 2023

Development Florida Multifamily Southeast

Madison Communities Breaks Ground on 317-Unit Apartment Development in Ruskin, Florida

by John Nelson April 14, 2023

RUSKIN, FLA. — Madison Communities, a multifamily subsidiary of Madison Capital Group, has begun construction on Madison Palms, a 317-unit apartment community in Ruskin. Located at 210 Teco Road, the property will comprise 300,000 square feet of rentable space in the form of one-, two- and three-bedroom units. Apartments will range in size from 719 to 1,403 square feet. Amenities will include a clubhouse with a fitness center, outdoor lounge, swimming pool and deck with grilling stations, recreation areas and cabanas. A construction timeline for the project was not disclosed.

April 14, 2023

Development Kentucky Multifamily Southeast

Lendlease Completes Renovations of 170 Military Housing Units at Fort Campbell in Kentucky

by John Nelson April 14, 2023

FORT CAMPBELL, KY. — Lendlease has completed interior and exterior renovations of 170 units for Junior Enlisted families within the New Hammond Heights neighborhood at the privatized military housing community of Campbell Crossing at Fort Campbell. Beginning in April 2021, the renovations included the replacement of each home’s exterior, living room and kitchen upgrades, master bathroom remodels and the replacement of interior finishes and appliances. All windows and appliances have been upgraded to Energy Star-rated products, and other sustainability benefits have been implemented for the reduction of energy and water consumption. Renovations are part of the company’s $300 million, five-year plan for the community, which also includes new construction and removal of outdated units. Other projects underway at Campbell Crossing include the demolition and construction of 680 new homes for Junior Enlisted families.

April 14, 2023

Affordable Housing Development Massachusetts Multifamily Northeast

Chestnut Hill Realty to Develop 250-Unit Mixed-Income Residential Community in Boston

by Taylor Williams April 14, 2023

BOSTON — Locally based developer Chestnut Hill Realty Corp. will build Puddingstone at Chestnut Hill, a 250-unit mixed-income residential community at 201 Sherman Road in Boston’s Brookline area. The unit mix will consist of 90 one-bedrooms, 135 two-bedrooms and 25 three-bedrooms, with 50 residences designated as affordable housing for renters earning up to 30 or 50 percent of the area median income. Chestnut Hill will also construct a total of 377 parking spaces through a two-story deck and surface lots. MassDevelopment provided $126 million in both taxable and tax-exempt bonds for the project. A tentative completion date was not disclosed.

April 14, 2023

California Development Multifamily Western

Equity Residential Completes $45M Renovation of Pearl Apartments in Marina del Rey, California

by Jeff Shaw April 14, 2023

MARINA DEL REY, CALIF. — Equity Residential has delivered the first batch of newly renovated residences at the 597-unit Pearl Apartments in Marina del Rey. The 87 upgraded residences feature new kitchens with energy-efficient, stainless-steel appliances, quartz countertops, subway tile backsplashes and wood plank hard surface flooring throughout. Additional upgrades include energy-efficient LED lighting, new bath fixtures and sinks, water-efficient commodes and tubs with rain showers. The plumbing infrastructure was also completely replaced in these units. Equity Residential acquired the ground lease for the community in 2012 and took control of its management in 2018. With the first phase now complete, the newly renovated apartments will be available for occupancy. The renovation totaled $45 million.

April 14, 2023

Development Industrial Nevada Western

LDK Ventures Plans 85-Acre Pioneer Logistics Center in Sparks, Nevada

by Jeff Shaw April 14, 2023

SPARKS, NEV. — LDK Ventures has announced plans to develop Pioneer Logistics Center in Sparks. The company purchased the 85-acre property from Lennar in November 2022. The project will be situated in an infill area of the Pioneer Meadows master-plan community. It will feature 1.3 million square feet of industrial warehouse facilities at full build-out. Construction is scheduled to begin in 2024.

April 14, 2023

California Development Office Western

Pacific Life Completes Headquarters Renovations in Newport Beach, California

by Jeff Shaw April 14, 2023

NEWPORT BEACH, CALIF. — Pacific Life has completed the total interior renovation of its corporate headquarters in Newport Beach. Dubbed by employees as “Workplace Transformation 2.0,” the space spans multiple floors and “embraces the blended workplace of the future.” The new space was outfitted with engagement zones, breakout rooms, and varied collaboration areas that offer employees different workspaces and meeting options. Individuals needing privacy have adjustable work areas with stations that adapt to personal preference and allow for natural light when desired. As employees move through the office, they have the option of storing personal belongings in day lockers and are kept informed about current events via LED monitor panels located outside every elevator.  Hendy designed the space. The firm partnered with Howe Bonney & Associates, Howard Building Corp. (HBC), tk1sc, Tangram, Steelcase, Allsteel, Corporate Business Interiors (CBI) and Bentley Mills on the project. 

April 14, 2023

California Development Hospitality Mixed-Use Retail Top Stories Western

LRE & Cos. Plans 10-Acre University Square Mixed-Use Development in Rocklin, California

by Jeff Shaw April 14, 2023

ROCKLIN, CALIF. — LRE & Cos. has unveiled plans for University Square, a 10-acre mixed-use development located at the intersection of Sunset Boulevard and University Avenue in Rocklin, a northeast suburb of Sacramento. The project is scheduled for completion by year-end 2025. University Square is slated to feature more than 20,000 square feet of retail space; 5,000 square feet of space for fast-food restaurants with drive-thrus; a 123-room Hilton Garden Inn hotel; a 10,000-square-foot daycare center; a 3,700-square-foot convenience store; and a car wash. The site is adjacent to Estia Rocklin, a build-to-rent townhome community with 181 units. Across the street from University Square is William Jessup University, a private Christian university with more than 3,000 students. The project is just east of the 8,497-acre Sunset Area development. The Sunset Area plan is centered around a new California State University, Sacramento and Sierra College campus. “This part of Rocklin is seeing tremendous growth,” says Victor Chiang, vice president of development at LRE. “By prioritizing smart growth and responsible development practices, we can create something special that will stand the test of time.” Rocklin is home to Quarry Park, the city’s downtown community gathering space, offering rock climbing, paddle boats, and …

April 14, 2023

Development Florida Multifamily Southeast

Eden Multifamily, Dermot Plan 44-Story Apartment Tower in Miami’s Park West District

by John Nelson April 13, 2023

MIAMI — Locally based Eden Multifamily and New York-based The Dermot Co. have teamed up to develop a 44-story apartment tower in Miami’s Park West district. Construction is set to begin at the site, located at 1018 N. Miami Ave., in 2024. The project will be situated near Miami Worldcenter and a Brightline station. Kobi Karp is designing the unnamed high-rise, which will feature 430 apartments, 8,000 square feet of ground-level retail space and 25,000 square feet of indoor and outdoor amenities, including a pool, fitness center and coworking spaces. The developers plan to present the project to the City of Miami’s Urban Development Review Board during its April 19 meeting. Greenberg Traurig is representing Eden Multifamily and Dermot in the land-use process. Jordan Karp LLC brokered the pending acquisition of the project site.

April 13, 2023

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