Development

Ashlar Development Breaks Ground on $800M Whitecap NPI Master-Planned Community in Corpus Christi

by Kristin Harlow May 10, 2023

CORPUS CHRISTI, TEXAS — Developer Ashlar Development LLC and owner Diamond Beach Holdings LLC have broken ground on Whitecap NPI, an $800 million master-planned community on North Padre Island in Corpus Christi. The 240-acre development will serve as the first and only coastal luxury residential and resort destination on the island, according to the development team. Upon full build-out, Whitecap NPI will feature over 600 residential options, including single-family homes, villas, condos and cross-generational housing. The homes, many with canal access for boating and water sports, will be situated in island enclaves. Bridges, boardwalks and walking paths will connect the homes to the rest of the community. A public town center and mixed-use area will provide a variety of dining, entertainment and retail options. Plans also call for a resort-style hotel, dry stack marina, yacht club, cafés, shops, galleries, markets and the Whitecap Nature Preserve. “Whitecap sets a new standard for coastal living,” says Steve Yetts, president of Ashlar Development. “The focus is on building up, not out, and enhancing the feel of community through both canal- and street-level experiences.” The project team includes PLACE Designers Inc. as residential architect, Turner Ramirez Architects for amenity and commercial architecture, Cadence as …

May 10, 2023

Development Georgia Multifamily Southeast

Toll Brothers, PGIM Top Out 36-Story Momentum Midtown Apartment Tower in Atlanta

by John Nelson May 9, 2023

ATLANTA — Toll Brothers Apartment Living, a subsidiary of Toll Brothers Inc., and PGIM Real Estate have topped out Momentum Midtown, a new 36-story high-rise apartment tower in Atlanta’s Midtown district. The 376-unit luxury property is located at 1018 W. Peachtree St., a site that formerly housed Ted Turner’s original broadcasting studio for TBS. Toll Brothers and PGIM expect occupancy to begin at Momentum Midtown in early 2024. Wells Fargo provided an undisclosed amount in construction financing for the project. Momentum Midtown will feature studio, one-, two- and three-bedroom floor plans, as well as a resort-style rooftop pool and lounge with cabanas, outdoor bar, dining room, exhibition kitchen, theater, indoor/outdoor game room, and a sky lounge. Other amenities will include a fitness center, coworking space, a club room with coffee bar, beer and wine taps, dog park and pet spa, high-speed Wi-Fi and a 435-space structured parking garage.

May 9, 2023

Development Industrial Southeast Virginia

Giant Food Opens 82,000 SF Fulfillment Center in Manassas, Virginia

by John Nelson May 9, 2023

MANASSAS, VA. — Regional grocer Giant Food has opened an 82,000-square-foot e-commerce fulfillment center in Manassas. The new facility allows Giant to expand its delivery service to 140 zip codes across Northern Virginia and support 200 new jobs. Giant is offering free delivery for orders made Tuesday through Thursday and for a $3.95 charge on the weekends, according to Gregg Dorazio, director of e-commerce at Giant. The grocer will continue to operate its other existing fulfillment center in Hanover, Md. Giant is headquartered in Landover, Md., and operates 165 supermarkets in Virginia, Maryland, Delaware and Washington, D.C., with approximately 20,000 associates.

May 9, 2023

Mustang-Ridge-Distribution-Center-Austin

Development Industrial Texas

Clay Development to Build 218,400 SF Industrial Project in Southeast Austin

by Taylor Williams May 9, 2023

AUSTIN, TEXAS — Houston-based Clay Development will build Mustang Ridge Distribution Center II, a 218,400-square-foot industrial project located on a 15-acre site in southeast Austin. Building features will include a rear-load configuration, 32-foot clear heights, an ESFR sprinkler system and parking for 233 cars and 38 trailers (expandable to 68). Raymond Construction is the general contractor for the project. The Austin office of Colliers will handle leasing of the project. Construction will begin later this month, with completion slated for April 2024.

May 9, 2023

Development Multifamily New Jersey Northeast Student Housing

Atlantic City Development Corp. Opens 416-Bed Residence Hall at Stockton University

by Taylor Williams May 9, 2023

ATLANTIC CITY, N.J. — Atlantic City Development Co. has opened a 416-bed residence hall that will serve students at Stockton University. The six-story, 135,000-square-foot building represents the second phase of a larger development that also featured two other residence halls totaling 543 beds and a 56,000-square-foot academic center. Amenities include multiple lounges, a meeting room, business center and onsite laundry facilities. Other project partners included architect Thriven Design and Philadelphia-based engineering firm O’Donnell & Naccarato.

May 9, 2023

Development Multifamily New Jersey Northeast

Garden Communities Underway on 126-Unit Multifamily Project in Florham Park, New Jersey

by Taylor Williams May 9, 2023

FLORHAM PARK, N.J. — Locally based developer Garden Communities is underway on construction of a two-building, 126-unit multifamily project in the Northern New Jersey community of Florham Park. The site at 147 Columbia Turnpike formerly housed an office building. Units will come in one- and two-bedroom floor plans with an average size of 1,200 square feet, and amenities will include a fitness center, resident lounge and multiple open green spaces. Completion of the first building is slated for the end of the year.

May 9, 2023

Development Midwest Office Ohio

Rubenstein Partners Unveils New Sky Lounge, Rooftop Deck at Cincinnati Office Building

by Kristin Harlow May 9, 2023

CINCINNATI — Rubenstein Partners LP has unveiled a new sky lounge and outdoor rooftop deck on the 14th floor of 312 Elm Street, a 378,000-square-foot office building in downtown Cincinnati. The space features a tenant lounge area, training room and alternative workspace. It is also available for events. Rising 26 stories, 312 Elm Street offers views of the city skyline. Additional amenities at the property include a recently renovated lobby and a large fitness center. Rubenstein purchased 312 Elm Street and the neighboring 312 Plum Street in 2015 and embarked on a renovation plan for both buildings with a focus on common areas, streetscapes and amenities.

May 9, 2023

Arizona Development Industrial Mixed-Use Western

Greystar Breaks Ground on Phase I of Peoria Place Mixed-Use Property in Peoria, Arizona

by Jeff Shaw May 9, 2023

PEORIA, ARIZ. — Greystar has broken ground on Peoria Place, a $500 million, mixed-use, master-planned project in Peoria. The first phase is a three-building, Class A industrial park that will be known as Caliber by Greystar. At build-out, Caliber will total 411,918 square feet of Class A product broken down as a 114,446-square-foot Building A, 122,863-square-foot Building B and 174,609-square-foot Building C. Buildings A and B will offer divisibility to serve a diversity of uses and tenant sizes. Peoria Place will eventually include luxury apartments, build-to-rent single-family homes, residential over retail, 20 acres of open space and the Caliber light industrial park, which is slated for completion in the second quarter of 2024. JLL serves as the project’s exclusive leasing broker.

May 9, 2023

Affordable Housing Development Loans Multifamily Oregon Western

Evergreen Hospitality, Fine Hotel Group Receive $11.5M in Construction Financing for Cambria Hotel Hillsboro in Oregon

by Jeff Shaw May 9, 2023

HILLSBORO, ORE. — Evergreen Hospitality Development and Fine Hotel Group have received $11.5 million in construction financing for the 115-key Cambria Hotel Hillsboro. The hotel will be located at 5523 NE Huffman Street in Hillsboro. The fixed-rate loan carries a term of 24 months. The 22,000-square-foot upscale hotel will be constructed on land that is owned by Majestic Realty Co. A joint venture between Palladius Capital Management and Marquee Funding Group originated the loan.

May 9, 2023

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Dollar General Grows Supply Chain Network by 3.2 MSF With Five Distribution Facilities

by John Nelson May 9, 2023

GOODLETTSVILLE, TENN. — Dollar General Corp. (NYSE: DG) has announced recent expansions in its supply chain network that will grow the discount retailer’s distribution footprint by more than 3.2 million square feet. The Goodlettsville, Tenn.-based company has recently opened three new facilities and announced expansions of two existing campuses that will support Dollar General’s traditional goods, as well as its DG Fresh line of groceries. “The recent additions to our supply chain network aim to provide greater efficiencies, create additional jobs and drive positive economic impact,” says Tony Zuazo, executive vice president of Dollar General’s global supply chain. “We’re excited to continue growing our distribution center network to further support store growth and to better serve our customers and local communities.” Dollar General recently opened an 800,000-square-foot distribution center in Blair, Neb., that is expected to create approximately 400 new jobs at full capacity. The $140 million development is the company’s first ground-up dual facility, meaning it features both traditional distribution space and cold storage. Dollar General plans to host a formal opening ceremony for the facility this summer. The company recently increased distribution center storage capacity by more than 2 million square feet by opening two new permanent regional facilities …

May 9, 2023

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