Development

EAH Housing Breaks Ground on $58M Affordable Seniors Housing Community in Hilo, Hawaii

by Amy Works February 28, 2023

HILO, HAWAII — EAH Housing has broken ground on Hale Nā Koa ‘O Hanakahi, an affordable seniors housing community for veterans in Hilo, located on the east coast of the “Big Island” of Hawai‘i. Development costs are estimated at $58 million. In partnership with Hawai‘i Island Veterans Memorial Inc. (HIVM), EAH Housing will develop the residential component of the master-planned complex that will also include a community-based outpatient clinic. The property will be built on 5.5 acres owned by the County of Hawai‘i. The 92-unit affordable living community will be available to veterans, surviving spouses and other income-qualified seniors age 62 years or older. The one-bedroom apartments will be offered at rents affordable to individuals and couples earning 30 percent to 80 percent of area median income (AMI). Funding sources for the project include $30 million in Hula Mae multifamily bond financing along with $16.9 million in Rental Housing Revolving Fund loans and approximately $2.5 million in annual state and federal Low-Income Housing Tax Credits from the Hawai‘i Housing Finance Development Corporation (HHFDC). The investor in those credits is Enterprise Housing Credit Investments, with permanent financing from Bank of Hawai‘i. Additional funding is provided by the County of Hawai‘i through …

February 28, 2023

California Development Industrial Western

First Industrial Plans 1 MSF First Stockton Logistics Center in Stockton, California

by Amy Works February 28, 2023

STOCKTON, CALIF. — First Industrial Realty Trust has released plans for First Stockton Logistics Center, a cross-dock distribution center at 6201 Newcastle Road in Stockton. Completion for the project is slated for early 2024. The 1 million-square-foot facility will feature 42-foot clear heights, 204 loading docks, 509 trailer stalls, 590 auto spaces, ESFR sprinklers and LED lighting. Total investment for the distribution center is estimated to be $126 million. The site offers immediate access to Highway 99 and Interstate 5 and proximity to BNSF & Union Pacific Intermodal Facilities, Stockton Metro Airport and the Port of Stockton. The project team includes Millie and Severson as general contractor, HPA as architect and Keir + Wright as civil engineer. Mike Goldstein, Ryan McShane and Gregory O’Leary of Colliers will assist with leasing the project.

February 28, 2023

Development Healthcare Texas

4M, Newmark Begin Leasing 260,000 SF Medical Office Complex in West Houston

by Taylor Williams February 28, 2023

HOUSTON — Locally based venture capital and private equity firm 4M Investments has begun leasing Park 10 Commons, a medical office development located at 17754 Katy Freeway in West Houston. The firm has tapped Newmark to lead the leasing initiative. The development consists of one existing building and three proposed buildings that will ultimately comprise 206,000 square feet of medical office space, as well as 4,500 square feet of retail space. Details on construction timelines were not disclosed.

February 28, 2023

Development Industrial Midwest Wisconsin

Kraus-Anderson Completes 250,000 SF Manufacturing Facility for Hunt Electric in Hudson, Wisconsin

by Kristin Harlow February 28, 2023

HUDSON, WIS. — Kraus-Anderson Construction has completed a new 250,000-square-foot manufacturing facility for Hunt Electric at 924 Daily Road in Hudson, a city along the Minnesota-Wisconsin border. Hunt Electric is a national electrical design, build and maintenance firm. In 2020, the company moved its 150,000-square-foot prefabrication operations, called “Little Baer,” to Hudson. The firm then purchased 17 acres next to the plant to build “Big Baer,” the new 250,000-square-foot facility. Big Baer will operate alongside the existing Little Baer facility. Pope Design Group designed the property, which features office and storage space in addition to manufacturing space.

February 28, 2023

Development Industrial Midwest Wisconsin

Kraus-Anderson Completes 250,000 SF Manufacturing Facility for Hunt Electric in Hudson, Wisconsin

by Kristin Harlow February 28, 2023

February 28, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Advenir Oakley Breaks Ground on $78M Build-to-Rent Residential Project in Greer, South Carolina

by John Nelson February 28, 2023

GREER, S.C. — Advenir Oakley Capital LLC has begun site work for LEO Jamestown, a $78 million build-to-rent (BTR) residential community in Greer, part of the Greenville-Spartanburg metropolitan area in Upstate South Carolina. The 296-unit project will span nearly 35 acres at the corner of South Main and Roscoe Drive, about one mile outside of downtown Greer. LEO Jamestown will feature a mix of one-, two- and three-bedroom cottages with nine-to-15-foot ceilings, wood-grain flooring, in-unit washers and dryers, a smart-home technology package, private backyards, on-call maintenance and optional enclosed garage parking. Neighborhood amenities will include courtyards with pavilions and grill stations, a central clubhouse with a resort-style pool, fitness center, dog park and valet trash. One-bedroom homes will average 882 square feet and rent for approximately $1,800 per month; two-bedroom units will average 912 square feet and rent for $2,100; and three-bedrooms will come in 1,510-square-foot floor plans and rent for $2,600. Advenir Oakley expects to fully deliver the property by December 2024, with first deliveries currently scheduled for this October. The design-build team includes Birmingham-based Nequette Architecture & Design and general contractor Capstone Building Corp. Advenir Living will be the property manager.

February 28, 2023

Development Multifamily Office Southeast Virginia

PRP Completes Office-to-Multifamily Conversion Project in Alexandria, Virginia

by John Nelson February 28, 2023

ALEXANDRIA, VA. — PRP has completed the conversion of an office building at 4900 Seminary Road in Alexandria into a 212-unit apartment tower. The high-rise, dubbed the Sinclaire on Seminary, features apartments averaging 850 square feet in size with ceilings exceeding 10 feet in height. Amenities include ground-level retail space, a dog park, individual storage spaces, indoor parking garage connected by a covered walkway and outdoor lounge areas with firepits, a bocce ball court and outdoor recreational opportunities. Kettler is the property manager of Sinclaire on Seminary. Monthly rental rates range from $1,770 to $3,500, according to the property website.

February 28, 2023

Development Midwest Missouri Mixed-Use Top Stories

Brain Group, Mercier Street Begin $250M Mixed-Use Redevelopment Project at Former Middle and High School in Kansas City

by John Nelson February 28, 2023

KANSAS CITY, MO. — Co-developers Brain Group and Mercier Street are underway on the conversion of the former Westport Middle and Westport High School campuses in Kansas City into Park 39, a $250 million mixed-use development. The live-work-play campus will be situated on 16 acres at 39th and McGee streets in the city’s Midtown district. Anchoring the project is The Residences at Park 39, a 138-unit apartment community within the four-story former Westport High School. Upon completion, The Residences will include flexible work areas, a fitness center and mailroom, auditorium transformed into modules, conference rooms and library and event spaces for groups large and small. Individual residences will have open floor plans with high ceilings and modern finishes for kitchens, bathrooms and living areas. Each unit will have its own washer and dryer and will range from 400 square feet to 1,600 square feet in size, with expected monthly rents ranging from $950 to $2,000. The building’s new infrastructure will include smart technology and updated electrical, plumbing and fire alarm and protection systems. The original brick-and-stone façade and the front entry of the 1908-era high school are being preserved and restored, as are the original hardwood floors and ceramic tile. …

February 28, 2023

Affordable Housing Development Multifamily Texas

Fairstead to Undertake $25M Renovation of Houston Affordable Housing Complex

by Taylor Williams February 27, 2023

HOUSTON — Fairstead, an investment firm with three offices along the East Coast, will undertake a $25 million renovation of Coppertree Village Apartments, a 324-unit affordable housing complex in Houston. Matt Napoleon and Joseph Mandeville of Berkadia arranged construction financing for the project, and R4 Capital provided tax credit equity. Renovations will include new kitchens, bathrooms, windows and flooring to all units, as well as upgrades to the HVAC systems, roofing, siding and staircases of the buildings themselves. Lastly, the project team will add a new playground and community garden and redevelop the existing amenity building to support a computer lab, demonstration kitchen and a library.

February 27, 2023

Development Healthcare Texas

Caddis Breaks Ground on 60,000 SF Healthcare Project in Frisco

by Taylor Williams February 27, 2023

FRISCO, TEXAS — Caddis, a Dallas-based developer exclusively focused on healthcare real estate, has broken ground on a 60,000-square-foot project in Frisco. Frisco Medical Pavilion II will be located at 12850 Dallas Parkway, just north of Texas Health Frisco, a full-service hospital that opened in 2019. Dallas-based Grace Hebert Curtis Architects is designing the project, and Novel Builders is serving as the general contractor. Transwestern is the leasing agent. Completion is slated for early 2024.

February 27, 2023

Newer Posts

Older Posts