Development

CBRE to Lead Overhaul of EpiCentre Mixed-Use Development in Uptown Charlotte

by John Nelson September 28, 2022

CHARLOTTE, N.C. — CBRE has announced plans to lead the marketing, property management and renovations at the 302,324-square-foot EpiCentre mixed-use development in Uptown Charlotte, which opened in 2008 before CBRE took it out of receivership in 2021. CBRE plans to begin a renovation project at the development, which has been renamed Queen City Quarter after Charlotte’s nickname “The Queen City.” Streetsense, a global urban design and placemaking agency, has been engaged to shape the physical and branding elements of the property. Significant repairs to the courtyard, parking garage, patios and roof are underway and expected to be complete by year-end. In 2023, Queen City Quarter’s public staircases and escalators will also be renovated, and new landscaping, lighting, benches and security cameras will be installed. CBRE’s Kivett Williams is the exclusive marketing and leasing agent for the retail space at Queen City Quarter, and CBRE’s Kris Westmoreland is the exclusive marketing and leasing agent for the office space and will be involved in the rebranding. The development can accommodate traditional retail, restaurants and office tenants in addition to creative office, medical office and various other office and retail uses. CBRE Property Management is leading the property management services at the property. …

September 28, 2022

Alabama Build-to-Rent Development Multifamily Single-Family Rental Southeast

Landmark Breaks Ground on 231-Unit Build-to-Rent Community in Madison, Alabama

by John Nelson September 28, 2022

MADISON, ALA. — Landmark Properties, the student housing development giant based in Athens, Ga., has broken ground on its first build-to-rent community. The property, named The Everstead at Madison, will be located in the Huntsville suburb of Madison and comprise 231 single-family and cottage-style homes. Finishes for the homes will include quartz countertops, stainless steel appliances, large pantries, hardwood-style floors, full-size washers and dryers, ceiling fans, a walk-in closet for the main bedroom and backyards with private patios. Some units will also feature an attached garage. Community amenities will include a resort-style swimming pool, fitness center, playground, fire pit, grilling area and a dog park. TSB Capital Advisors arranged financing on behalf of Landmark, which expects to deliver first homes in 2023 and complete the neighborhood in 2024.

September 28, 2022

Development Multifamily New York Northeast

LeCesse Development Breaks Ground on 189-Unit Multifamily Project in Malta, New York

by Taylor Williams September 28, 2022

MALTA, N.Y. — Florida-based LeCesse Development Corp. has broken ground on GrandeVille at Malta, a 189-unit multifamily project that will be located north of Albany in Upstate New York. The project represents Phase II of a larger development, the initial phase of which comprised 292 units. Phase II residences will be spread across three buildings and will come in one-, two- and three-bedroom formats. Units will be furnished with stainless steel appliances, quartz countertops, custom cabinetry, walk-in closets and individual washers and dryers. Communal amenities will include an indoor pool, clubhouse, fitness center, game room, business lounge and a spa. Completion is scheduled for next fall. Other project partners include James Fahy Design Associates, general contractor Platinum-LeChase, Lansing Engineering and Five Star Bank.

September 28, 2022

Development Industrial New Jersey Northeast

Peak Construction Underway on 155,010 SF Spec Industrial Project in Fair Lawn, New Jersey

by Taylor Williams September 28, 2022

FAIR LAWN, N.J. — General contractor Peak Construction Corp. is underway on construction of Fair Lawn Logistics Center, a 155,010-square-foot speculative industrial project in Northern New Jersey. The facility will be situated on a 9.2-acre site and will feature a clear height of 36 feet, 16 dock doors and 5,000 square feet of office space. M+H Architects is designing the project, and Dynamic Engineering is serving as the civil engineer. Completion is slated for May 2023. The developer was not disclosed.

September 28, 2022

Development Illinois Loans Midwest Multifamily

Partnership Receives $102.2M in Construction Financing for Chicago Mixed-Use Development

by Kristin Harlow September 28, 2022

CHICAGO — A partnership between Mavrek Development, GW Properties, Luxury Living Chicago Realty and Double Eagle Development has received $102.2 million in financing from MSD Partners for the construction of a mixed-use development in Chicago. Named The Saint Grand, the 21-story project will include 248 luxury apartment units, 40,000 square feet of office space and 8,000 square feet of street-level retail space. Units will feature workspaces and private outdoor areas. Amenities will include a package receiving service, coworking lounge, fitness center and outdoor pool. Office tenants will also be able to enjoy the apartment amenities. The project will replace a parking garage located at 535 N. St. Clair. Demolition is underway and construction is expected to begin before the end of the year. The office portion is slated to be ready for tenant buildouts in the third quarter of 2023, with the residential portion slated for delivery in early 2024. NORR is the project architect. Chris Knight of JLL worked on behalf of the borrower to secure the four-year loan through MSD Partners.

September 28, 2022

Development Midwest Minnesota Multifamily

Kraus-Anderson Begins Phase II Construction of Apartment Project in Hopkins, Minnesota

by Kristin Harlow September 28, 2022

HOPKINS, MINN. — Kraus-Anderson has begun construction of the second phase of an apartment project named The Hallon in Hopkins, a western suburb of Minneapolis. The project site is adjacent to the future Blake Road Metro Green Line Extension Transit station. Developed by Trilogy Real Estate Group and designed by ESG Architects, the development will ultimately comprise three buildings and 770 units. Phase I includes a seven-story building with 219 units, 256 parking stalls and street-level retail space. Completion of Phase I is slated for August 2023. Phase II will comprise a seven-story building with 250 units, 350 parking stalls and 10,000 square feet of retail space. Completion of Phase II is slated for summer 2024. A third phase is expected, but details are still pending.

September 28, 2022

Development Multifamily Seniors Housing Washington Western

Emerald Communities Starts Expansion Project at Emerald Heights CCRC in Redmond, Washington

by Amy Works September 27, 2022

REDMOND, WASH. — Emerald Communities has started construction of an expansion project at Emerald Heights, a continuing care retirement community (CCRC) in the Seattle suburb of Redmond. The new building, named Courtyard, will rise three stories and feature 42 independent living units ranging in size from 826 square feet to 1,726 square feet. Dean Kelly of the architecture firm Rice Fergus Miller, who worked on Emerald Heights’ previous expansion in 2014, led the design of the new building. The Courtyard will total 70,638 square feet plus a 35,703-square-foot underground parking structure. GLY Construction is building the expansion, which is scheduled for completion in late 2023.

September 27, 2022

Development Industrial Texas

EastGroup Properties Begins Construction on 275,559 SF Industrial Project in Buda, Texas

by Taylor Williams September 27, 2022

BUDA, TEXAS — Mississippi-based developer EastGroup Properties has begun construction on Stonefield 35, a 275,559-square-foot industrial project in Buda, located south of Austin. The three-building facility will be situated on 21 acres and will be able to accommodate single or multiple users. Building features will include 28-foot clear heights, 180-foot truck court depths, ESFR sprinkler systems and ample car parking. Pross Design Group is the project architect, and RC Page Construction is the general contractor. Transwestern is the leasing agent. Completion is slated for mid-2023.

September 27, 2022

Development Florida Industrial Southeast

Rooker Breaks Ground on 187,000 SF Industrial Building in Wesley Chapel, Florida

by John Nelson September 27, 2022

WESLEY CHAPEL, FLA. — Rooker has begun construction on a 187,000-square-foot, Class A industrial building located at 7526 Old Pasco Road in Wesley Chapel. The facility is Building 1 within North Tampa Bay 75 Business Center, an 85-acre industrial park in metro Tampa located near a new I-75 interchange. North Tampa Bay 75 Business Center can accommodate up to 850,000 square feet of Class A industrial space across four buildings, according to Rooker. The Atlanta-based developer expects to complete construction on Building 1 in the first quarter of 2023. Rick Narkiewicz of Newmark is marketing the project for lease. The design-building team includes civil engineer Coastal Design, architectural firm Pieper O’Brien Herr Architects and general contractor Itasca Construction.

September 27, 2022

Development Florida Loans Office Southeast

Berkadia Arranges $11M Construction Loan for Boutique Office Conversion Project in Miami

by John Nelson September 27, 2022

MIAMI — Berkadia has arranged an $11 million construction loan for the redevelopment of Wyncatcher, a former warehouse in Miami’s Wynwood district that was converted into a boutique office property. Knotel, a flexible workspace platform founded in 2015, is slated to occupy the entire 46,072-square-foot property located at 2143 Northwest 1st Ave. Scott Wadler and Mike Basinski of Berkadia’s Miami office secured the financing on behalf of Morabito Properties, a real estate developer based in Miami Beach. Banesco provided the eight-year loan, which features two years of interest-only payments and a fixed interest rate. Morabito has the option to convert the financing to a mini-perm loan for an additional five years. Designed by Arquitectonica, Wyncatcher features double-height, industrial-style windows, a rooftop terrace with views of the neighborhood and over 12,000 square feet of indoor and outdoor restaurant space.

September 27, 2022

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