Development

Ryan Breaks Ground on 200-Unit Luxury Apartment Complex in Suburban Chicago

by Kristin Harlow August 18, 2022

ELMHURST, ILL. — Ryan Cos. US Inc. has broken ground on Vyne on Haven, a 200-unit luxury apartment complex in Elmhurst. The transit-oriented development is located at 102 Haven Road. Units will range from 600 to 1,500 square feet. Amenities will include a 13,000-square-foot outdoor deck with a pool, cabanas, grilling stations and outdoor heaters, a sixth-floor sky lounge, fitness center, clubroom, coworking space, dog spa and dog run. Ryan A+E Inc. designed the six-story, 320,000-square-foot building. Ryan is the developer and general contractor for the project and will manage the property upon completion, which is slated for 2024.

August 18, 2022

Development Multifamily New Jersey Northeast

Larken Associates Receives Approval for 120-Unit Multifamily Project in Pohatcong, New Jersey

by Taylor Williams August 18, 2022

POHATCONG, N.J. — Locally based developer Larken Associates has received approval from the Pohatcong Township Land Use Board for Monte View at Pohatcong, a 120-unit multifamily project. The site is located near the Pennsylvania-New Jersey border near Easton. The garden-style property will consist of three multi-story buildings and one four-story building with a ground-floor clubhouse. Other amenities will include a pool, fitness center and a dog run. Construction is expected to begin in mid-2023 and to be complete in early 2025.

August 18, 2022

Development Office Texas Top Stories

Generational Commercial, Fairway Real Estate Receive $124M Construction Financing for Office Project in Austin’s Central Business District

by Katie Sloan August 18, 2022

AUSTIN, TEXAS — A joint venture between Generational Commercial Properties and Fairway Real Estate has received $124 million in construction financing for Zilker Point, a 207,000-square-foot office development in Austin. The project, which is located at 218 South Lamar Blvd. in the city’s Central Business District South, will offer 192,000 square feet of office space across the building’s top six floors upon completion. The development will also feature 15,000 square feet of ground-floor retail and amenity space and 635 parking spaces. Building amenities are set to include a 3,600-square-foot rooftop deck with views of the downtown Austin skyline; a 1,240-square-foot fitness center with men’s and women’s showers and lockers; an art gallery with exhibitions by local artists; bike storage; and a courtyard with shaded seating, an outdoor bar and a live music stage. Zilker Point is located across from Lady Bird Lake and adjacent to hiking and biking trails including the Barton Springs Road Bike Trail, Barton Creek Greenbelt Trail and West Bouldin Creek Preserve Trail. The development was designed to meet the WELL Building Standard and will include open floor plans with expansive window walls, an advanced hybrid HVAC system, a clean air system with hospital-grade filtration and touch-less technology. …

August 18, 2022

Development Illinois Industrial Midwest

Bridge Industrial Acquires Land for 186,880 SF Project in Melrose Park, Illinois

by Kristin Harlow August 17, 2022

MELROSE PARK, ILL. — Bridge Industrial has acquired 12 acres in Melrose Park with plans to build Bridge Point Melrose Park II, a 186,880-square-foot development. Bridge acquired the site, formerly a truck parking lot, from a joint venture between Missner Group and Timber Hill. Completion is slated for the third quarter of 2023. The project will feature a clear height of 36 feet, 30 exterior docks, two drive-in doors, 221 car parking spaces, 30 trailer parking spaces, a 129-foot truck court and office space. Matthew Stauber, Thomas Rodeno and Patrick Turner of Colliers represented the seller. Bridge’s neighboring project, Bridge Point Melrose Park, is a 1.6 million-square-foot facility currently under development that is 86 percent pre-leased to CEVA Logistics and Expeditors International.

August 17, 2022

Affordable Housing Development Illinois Midwest Multifamily

McShane to Build 47-Unit Affordable Housing Adaptive Reuse Project in Aurora, Illinois

by Kristin Harlow August 17, 2022

AURORA, ILL. — McShane Construction Co. will build Fox Valley Apartments, a 47-unit affordable housing adaptive reuse project in Aurora. McShane will redevelop two historic schools and construct one new building. Housing For All LLC, Visionary Ventures, Cordogan Clark & Associates and JTE Real Estate Services make up the development team. The 25,000-square-foot Mary A. Todd School will be transformed into 11 apartment units and a health clinic for low-income families. The building was originally constructed in the early 1900s and most recently used for West Aurora School District’s early childhood programs until 2019. The 39,000-square-foot Lincoln Elementary School will be transformed into 14 apartment units. Originally constructed in the late 1800s, the school has sat vacant since 2007. The ground-up building will rise two stories with 22 units. At least 30 percent of the units will be reserved for renters who earn up to 30 percent of the area median income. Amenities will include a common laundry room, community room, computer lab and tenant storage. Completion is slated for October 2023.

August 17, 2022

Development Multifamily Texas

Kalterra Capital to Develop 184-Unit Multifamily Project in Waxahachie, Texas

by Taylor Williams August 17, 2022

WAXAHACHIE, TEXAS — Kalterra Capital Partners will develop The Fitzgerald, a 184-unit multifamily project in Waxahachie, a southern suburb of Dallas. The seven-acre complex will be situated directly to Park Place Apartments, Kalterra’s 213-unit development that sold to North Carolina-based Rowan Properties last May. Rowan Properties also purchased The Fitzgerald during the preconstruction phase but retained Kalterra to complete the development. Kalterra expects to deliver The Fitzgerald in the second quarter of 2023.

August 17, 2022

Development Office Texas

Bradford Commercial Launches $8M Renovation of North Dallas Office Building

by Taylor Williams August 17, 2022

DALLAS — Bradford Commercial Real Estate Services has launched an $8 million renovation of Meadow Park Tower, a 16-story office building in North Dallas. The project will deliver an overhaul of HVAC systems and updates to the amenity and common areas, including the addition of new outdoor spaces and activities. The plan also calls for three office suites to be upgraded. Bradford acquired the building, which is currently 89 percent leased, about nine months ago and operates its headquarters office from the 11th floor. Completion of the renovation is slated for the first quarter of next year.

August 17, 2022

Development Loans Multifamily New York Northeast

JLL Arranges $176M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams August 17, 2022

NEW YORK CITY — JLL has arranged a $176 million construction loan for a 360-unit multifamily project that will be located at 420 Carroll St. in Brooklyn’s Gowanus neighborhood. Designed by FX Collaborative and Studio Mainer, the transit-served, waterfront building will rise 20 stories and include roughly 27,500 square feet of retail and commercial space. In addition, 25 percent of the units will be reserved as affordable housing. Christopher Peck, Nicco Lupo, Jeff Julien, Rob Hinckley and Jonathan Faxon of JLL arranged the loan through Bank OZK on behalf of the developer, a joint venture led by The Domain Cos. Completion is slated for December 2024.

August 17, 2022

Development Office Southeast Tennessee

Portman, Creed Investment to Top Out 16-Story Moore Office Building in Midtown Nashville

by John Nelson August 17, 2022

NASHVILLE, TENN. — Portman and Creed Investment Co. plan to top out the Moore Building, a 16-story office building in Midtown Nashville, on Thursday. Upon completion, which is set for February 2023, the Moore Building will feature 236,000 square feet of Class A offices and 8,500 square feet of ground-level retail space. Amenities will include an 11,000-square-foot sky lobby, outdoor deck, 35-person conference room, tenant lounge and a fitness center. The Moore Building is named after Scotty Moore, the former guitarist of Elvis Presley, and is located on the site of the former Music City Recorders studio where Elvis and Moore recorded music. The project team includes general contractor Hoar Construction and Nashville-based architect Greshman Smith. CBRE is handling leasing for the office space, and U.S. Bank provided construction financing for the project.

August 17, 2022

Development Multifamily Texas

RightQuest Residential Breaks Ground on 264-Unit Paloma San Antonio Apartments

by Taylor Williams August 16, 2022

SAN ANTONIO — Dallas-based RightQuest Residential has broken ground on Paloma San Antonio, a 264-unit multifamily project that will be located on a 13-acre site on The Alamo City’s east side. Units will come in one- and two-bedroom formats, and amenities will include a pool, fitness center, business center, outdoor grilling stations, package lockers and a dog park. Cross Architects designed the project, and Houston-based Nations Construction is serving as the general contractor. Veritex Community Bank provided construction financing. The first units will be available for occupancy in fall 2023.

August 16, 2022

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