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Jefferson-Morningstar-The-Colony
DevelopmentMultifamilyTexas

JPI Breaks Ground on 373-Unit Multifamily Project in The Colony, Texas

by Taylor Williams

THE COLONY, TEXAS — Multifamily developer JPI has broken ground on Jefferson Morningstar, a 373-unit project in The Colony, a northern suburb of Dallas. The garden-style property will offer studio, one-, two- and three-bedroom apartments. Amenities will include a pool, fitness center, dog park, coworking spaces and a clubhouse. JPI is partnering with Nomura Real Estate Development Co. Ltd. and Yoram Avneri, the original owner of the land, on the project. The first residences are expected to be available for occupancy by early 2027.

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Longview-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Quinlan, GTIS Near Completion of 197-Unit Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between locally based firm Quinlan Development Group and global investment group GTIS Partners is nearing completion of Longview, a 197-unit multifamily project at 380 4th Ave. in the Gowanus neighborhood of Brooklyn. The 17-story building will house parking and retail space and have an affordable housing component. Units will come in one- and two-bedroom formats, and amenities will include a fitness center, gaming lounge, coworking spaces and a rooftop terrace. Los Angeles-based CIT is financing construction of the project, which was first announced in late 2022. Leasing is set to begin in the second quarter.

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DevelopmentIndustrialLoansNew YorkNortheast

Ridgecut Road Breaks Ground on 146,075 SF Spec Industrial Project in Montgomery, New York

by Taylor Williams

MONTGOMERY, N.Y. — New York-based developer Ridgecut Road has broken ground on a 146,075-square-foot industrial speculative project in Montgomery, located about 70 miles northwest of Manhattan. The site spans 13.6 acres, and the facility will be branded I-84 Orange County Logistics Center. Building features will include a clear height of 36 feet, 31 dock doors and parking for 16 trailers and 83 cars. Pratt Design Studio and Premier Design + Build Group are serving as the architect and general contractor, respectively, and JLL is the leasing agent. John Alascio, T.J. Sullivan, Chuck Kohaut and Mitch Rothstein of Cushman & Wakefield arranged $20 million in construction financing for the project through Catal Capital. Completion is slated for the fourth quarter.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Crescent Communities, GID Open 336-Unit Multifamily Property in Morrisville, North Carolina

by John Nelson

MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit multifamily community located at 218 Southport Drive in Morrisville. Situated about 14 miles west of Raleigh, the property is a walkable master-planned community that houses the Wake Competition Center, a practice hockey complex for the NHL’s Carolina Hurricanes. Novel Morrisville features a mix of studio, one-, two- and three-bedroom floorplans, as well as 10 carriage-style townhomes. Unit sizes range from 532 square feet to 2,128 square feet. Monthly rental rates at the complex begin at $1,415, according to Apartments.com. Amenities include a saltwater swimming pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an onsite Land of a Thousand Hills coffee shop. Crescent Communities Construction was the general contractor. The project architect and interior designer was Hord Coplan Macht, and the civil engineer and landscape architect was Kimley-Horn. U.S. Bank was the project lender.

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Cabana-Kyrene-Tempe-AZ
ArizonaDevelopmentMultifamilyWestern

Greenlight Communities, Holualoa Cos. to Develop 229-Unit Attainable Housing Community in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Greenlight Communities, in partnership with Holualoa Cos., will break ground on Cabana Kyrene, a 229-unit attainable rental housing property in Tempe, on March 20. Located at 515 W. Guadalupe Road, Cabana Kyrene will offer 90 studio apartments, 93 one-bedroom units and 46 two-bedroom units.

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CaliforniaDevelopmentRetailWestern

Nintendo to Open 11,000 SF Store in San Francisco

by Amy Works

SAN FRANCISCO — Japanese electronics and video game company Nintendo will open its second store in the United States — and its fifth overall location in the world — in San Francisco in May. Situated in Union Square at 331 Powell Street, Nintendo San Francisco will total 11,000 square feet and offer game systems and games, as well as a shopping experience that will include Nintendo’s characters and worlds. Exclusive products such as accessories, apparel, home goods and souvenirs will be available at the location. The grand opening will be held on Thursday, May 15. Nintendo currently operates one store in New York City and three in Japan.

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DevelopmentKansasLeasing ActivityMidwestRetail

Sierra Opens at Orchard Corners Shopping Center in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Sierra, a retailer of off-price merchandise operated by the TJX Cos., has opened across the street from Oak Park Mall at Orchard Corners Shopping Center in Lenexa. A grand opening took place Saturday, March 15. Rick Weiser of Block & Co. Inc. Realtors led the build-out of Sierra’s 19,000-square-foot space in partnership with Harmon Construction and CT Architects. The project started with a 37,000-square-foot, former SteinMart property that was split into two to welcome Sierra and Petco. Modifications included a new rooftop, mechanical systems, electrical and gas service, and a new façade. The location marks Sierra’s second in the region. Petco’s space is currently in the drawing stage and is slated for completion in December. David Block of Block & Co. negotiated both the Petco and Sierra lease transactions on behalf of ownership.

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DevelopmentFloridaMixed-UseRetailSoutheast

City of St. Petersburg Halts $1.3B Proposed Development for New Tampa Bay Rays Ballpark After Baseball Team Exits Project

by John Nelson

ST. PETERSBURG, FLA. — Tampa Bay Rays owner Stuart Sternberg has announced that the Major League Baseball team will not move forward with the proposed $1.3 billion stadium in St. Petersburg, which was part of the $6.5 billion redevelopment of the Historic Gas Plant property. Sternberg cited hurricane damages and financing delays in the decision behind exiting the project. Concepts for construction of the new 30,000-seat stadium — which would anchor the broader redevelopment project — were released more than a year ago. Under the previously approved agreement, local governments of St. Petersburg would cover roughly half the cost of the $1.3 billion stadium, while the Rays had a March 31, 2025, deadline to gain public financing for the project, including proof that they could meet their $700 million obligation, according to national media outlets. The Rays were anticipated to play three more seasons at Tropicana Field, but damages from Hurricane Milton in October 2024 rendered Tropicana Field unplayable for the 2025 season. The Rays will now use the New York Yankees’ spring training site in Tampa as their home field this season, while the City of St. Petersburg is advancing on plans to restore Tropicana Field in time for the 2026 …

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DevelopmentMultifamilyNorth CarolinaSoutheast

Joint Venture Breaks Ground on 265-Unit Apartment Community in Wilmington, North Carolina

by John Nelson

WILMINGTON, N.C. — A joint venture between The Beach Co., Swain & Associates and Larson Capital Management has broken ground on The Sterling, a 265-unit apartment community located within the larger mixed-use development of Center Point in Wilmington. Clancy & Theys Construction Co. is the general contractor for the project, which will feature a four-story building that totals 326,384 square feet.   The luxury apartment complex will offer studios, one-, two- and three-bedroom apartments, as well as a swimming pool, courtyard, fitness center, billiards and game rooms, golf simulator, business and outdoor lounges, electric vehicle charging stations, a dog park and grilling areas. The Sterling is slated to open in August 2026, with preleasing beginning in May 2026.  

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DevelopmentIndustrialNorth CarolinaSoutheast

M. David Properties Completes 105,384 SF Industrial Facility in Charlotte

by John Nelson

CHARLOTTE, N.C. — M. David Properties has completed SilverPark North I, a 105,384-square-foot industrial facility located within the three-building SilverPark North industrial campus in Charlotte. SilverPark North I features 32-foot clear heights, 20 dock-high doors and two drive-in doors, as well as a 2,501-square-foot speculative office suite. Veho, a technology company that operates one of the largest parcel delivery platforms in the United States, leases a 60,932-square-foot space at SilverPark North III. SilverPark North II and III are now both fully occupied. Brad Cherry and Matthew Greer of JLL lead leasing efforts for the campus on behalf of M. David Properties.

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