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Ryan-Aegis-Ballard-Seattle-WA
DevelopmentMultifamilySeniors HousingWashingtonWestern

Ryan Cos., Aegis Living Plan 92-Unit Seniors Housing Community in Seattle’s Ballard Neighborhood

by Amy Works

SEATTLE — Ryan Cos., as builder, and Aegis Living, as developer, unveils plans to develop a five-story assisted living and memory care community on Market Street in Seattle’s Ballard neighborhood. The team broke ground on the project in March, with opening slated for early 2024. Totaling 75,000 square feet, the community will feature 92 residential apartments, dining facilities, a movie theater, activity rooms, a wellness suite and community rooftop space. The property will also include business offices and one level of underground parking. DAHLIN is serving as architect for the project, which will be Aegis’ second senior living community in northwest Seattle. Ryan has built more than 60 senior living communities in 17 states across the country.

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ConnecticutDevelopmentMultifamilyNortheastTop Stories

Flaherty & Collins Plans $200M Waterfront Apartment Community in Bridgeport, Connecticut

by Kristin Harlow

BRIDGEPORT, CONN. — Flaherty & Collins Properties (F&C), in partnership with RCI Group and the City of Bridgeport, has unveiled plans for a $200 million waterfront apartment community at Steelepointe Harbor, a mixed-use development along Long Island Sound. Plans call for 420 units and 10,000 square feet of retail space. Amenities will include a pool, outdoor kitchens, gathering spaces, secure parking and a dedicated dog park and pet spa. A water taxi will provide residents with service to nearby beach areas. A fitness center will offer fitness classes, a spin studio, sauna and jacuzzi. Residents will also have access to a pickleball court. Bridgeport is located 50 miles northwest of New York City. Steelepointe Harbor is accessible along the I-95 corridor and a short walk to the Bridgeport Transportation Center, which features access to the train station and the Bridgeport & Port Jefferson Ferry to Long Island. The Hartford Healthcare Amphitheatre live event venue, which opened in 2021, is less than a mile away. Previous development phases of Steelepointe Harbor included a Bass Pro Shops, Chipotle and Starbucks in late 2015, followed by the addition of Bridgeport Harbor Marina. The 220-slip marina is approaching full occupancy in its third year. …

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Grandscape-The-Colony
DevelopmentMarket ReportsMixed-UseTexasTexas Market Reports

North Texas Mixed-Use Boom Moves Full Steam Ahead

by Taylor Williams

By Rob Welker, president and partner, Hoefer Welker; and Steven Janeway, principal and commercial practice leader, Hoefer Welker As one of the biggest states, Texas regularly sees some of the largest demand in real estate development in the country. In recent years, North Texas specifically has experienced a rapid short-term increase in population, leading to a significant development boom and driving up urban and workforce construction volume, rental rates and sale values. Mixed-use developments have led the charge in commercial growth throughout the Dallas-Fort Worth (DFW) metroplex. Higher overall interest in a live-work-play lifestyle has contributed to the development of a larger number of spaces that provide corporate, retail and residential capabilities. Gone are the days when corporate campuses and multifamily complexes were predominantly in the suburbs; tenants and employers have increasingly searched for living experiences in urban environments where they can combine the three biggest facets of their lives within a single destination. This provides the convenience that tenants crave and the access to concentrated populations that retailers and office users need to be successful. The Coastal Exodus As personal and business income tax rates, regulatory hurdles and costs of living abound in coastal markets, corporations have begun relocating …

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Resia-Denton
DevelopmentMultifamilyTexas

Resia Receives Construction Financing for 322-Unit Multifamily Project in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Resia, a Miami-based developer formerly known as AHS Residential, has received an undisclosed amount of construction financing for a 322-unit multifamily project in the North Texas city of Denton. The unnamed project will consist of two seven-story buildings with one-, two- and three-bedroom units, as well as a pool, fitness center, clubhouse and a business center. Construction is expected to be complete in the second quarter of 2023. Regions Bank provided the financing.

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DevelopmentOfficeTexas

Moody Rambin Breaks Ground on 167,141 SF Office Building in West Houston

by Taylor Williams

HOUSTON — Locally based development and management firm Moody Rambin has broken ground on Town Centre Two, a 167,141-square-foot office building in Houston. Moody Rambin is developing the project, which is part of a two-building initiative that will be situated within the 41-acre Town and Country Village development on the city’s west side, in partnership with American National Insurance Co. Kirksey Architecture designed the eight-story building, with DBR Engineering and Hoar Construction respectively serving as the civil engineer and general contractor. Frost Bank provided construction financing. Completion is slated for the third quarter of 2023.

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Affordable HousingDevelopmentIndianaMidwestMultifamilySeniors Housing

Evergreen Real Estate Group Tops Out 120-Unit Affordable Assisted Living Community in Indiana

by Kristin Harlow

GOSHEN, IND. — Evergreen Real Estate Group has topped out construction of Green Oaks of Goshen. The four-story, 120-unit assisted living community for low-income seniors is located at 282 Johnston St. in Goshen, a city in northern Indiana. Evergreen Construction Co., a division of Evergreen Real Estate Group, is the general contractor. Completion is slated for early 2023. The $30 million project is being built on a vacant three-acre lot near an existing Salvation Army building. Gardant Management Solutions will manage the property. Green Oaks of Goshen will offer 49 studios and 71 one-bedroom units, all of which will be reserved for seniors age 62 and older with incomes at or below 80 percent of the area median income. Amenities will include a community room, media room, computer room, fitness center, salon, library, community garden and outdoor area. The Indiana Housing and Community Development Authority authorized 4 percent low-income housing tax credits (LIHTC) in support of the project. The City of Goshen issued tax-exempt bonds that were sold by PiperSandler, providing debt financing. Affordable Housing Partners invested in the project, providing LIHTC equity.

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900-Wheeler-Way-Langhorne-Pennsylvania
DevelopmentIndustrialLoansNortheastPennsylvania

Provident Bank Provides $32.1M Loan for Industrial Redevelopment in Langhorne, Pennsylvania

by Taylor Williams

LANGHORNE, PA. — Provident Bank has provided a $32.1 million loan for an industrial redevelopment project in Langhorne, located near Philadelphia in Bucks County. The borrower, a partnership between Greek Development and Principal Real Estate Investors, first acquired the site at 900 Wheeler Way in 2006 and subsequently expanded one of the two onsite buildings by 60,000 square feet. The partnership is now demolishing the second building in order to construct a last-mile distribution center with a clear height of 40 feet, truck court depths of 150 feet and parking for 242 cars and 80 trailers. Construction is slated for a second-quarter 2023 completion.

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DevelopmentFloridaMixed-UseMultifamilyRetailSoutheast

Joint Venture Opens Phase I of MiLine Miami, Including 338-Unit Apartment Community and Brewery

by John Nelson

MIAMI — A joint venture between ZOM Living, Mattoni Group, Scout Capital and AEW Capital Management has completed the first phase of MiLine Miami, a mixed-use development in Miami spanning 11.4 acres. Phase I includes the delivery of a six-story, 338-unit apartment community, 4,600 square feet of retail space and 1,300 linear feet of the Ludlam Trail. Apartments come in studios, one-, two- and three-bedroom options ranging from 580 to 1,700 square feet, and community amenities include a swimming pool and pool deck with cabanas, grilling area, Zen courtyard, fire pit, social room, fitness center, aqua lounge and coworking spaces. The retail space in Phase I houses Thorn, a local brewery by the founders of Lincoln’s Beard Brewing Co. The beer garden will be anchored by two restaurants to be announced soon. Phase II of MiLine Miami will comprise 337 apartments — including 32 townhome units — and is slated to start construction by the end of the year. The third phase will deliver an additional 300 apartments and 18,000 square feet of retail space. The Ludlam Trail is being redeveloped into a linear park that spans six miles and connect four parks, three waterways, two Metrorail stations at Dadeland …

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AcquisitionsDevelopmentMultifamilyNorth CarolinaSoutheast

Capstone Negotiates Sale of 19.1-Acre Multifamily Development Site in North Charlotte

by John Nelson

CHARLOTTE, N.C. — Capstone has negotiated the $4.4 million sale of a 19.1-acre development site located just north of the Camp North End mixed-use development in Charlotte. The site is located within an opportunity zone at the northwest corner of Statesville and Atando avenues and offers more than 1,500 feet of frontage along I-77. The unnamed buyer is a new-to-market developer, and the site is entitled for up to 350 garden-style apartment units. The buyer plans to begin construction in the coming months, according to Capstone. A portion of the Cross-Charlotte Greenway Trail system fronts the site, providing future residents with access to a 30-mile trail and greenway facility that will stretch from Pineville, N.C., to the University of North Carolina at Charlotte campus.

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Edison Balancing Amenities Bohler
BohlerContent PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastSoutheastTexasWestern

Multifamily Developers Must Find Balance Between Density, Amenities

by Sarah Daniels

Finding a balance between density and amenities has never been simple for residential developers, but rising interest rates, density restrictions and an increased desire to solidify multifamily projects within the community mean that there is much to be gained from creative approaches to this old problem. Starting the process of planning early, using zoning to the developer’s advantage and creating an adaptable, sustainable and welcoming place for tenants can allow for a successful project with a lower overall price tag. This method can solve some of the trickier problems faced by multifamily developers, including density, parking and zoning considerations. Starting Off Right — Creating a Master Site Plan Success in multifamily is easier to achieve if the project starts with a shared team vision from the outset, says Bill Rearden, principal at Bohler, a land development design and consulting firm. Rearden explains that Bohler has its own planning, landscape architecture and survey teams and works with many industry partners for environmental and geotechnical due diligence. “We work with these teams in the very early stages to understand what the configuration of a property is and what its constraints are. We know upfront any underlying zoning a property might have, so …

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