Tuesday, July 8, 2025
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Development

DevelopmentIndustrialTexas

IDI Logistics to Develop 465,660 SF Spec Industrial Project in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — Atlanta-based IDI Logistics will develop Sunrise Commerce Center, a 465,660-square-foot speculative industrial project that will be located on a 36-acre site in the northern Austin suburb of Round Rock. Phase I of the development will comprise three buildings totaling 310,693 square feet, while Phase II will encompass 154,967 square feet across two buildings. Adolfson & Peterson Construction is the general contractor for the project, which was designed by 5G Studio Collaborative. Pacheco Koch is the civil engineer, and Stream Realty Partners is the leasing agent. Construction will begin in September.

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DevelopmentIndustrialSouth CarolinaSoutheast

GTIS, Collett to Develop Two Greenville Industrial Facilities Totaling $140M

by John Nelson

GREENVILLE, S.C. — New York City-based GTIS Partners and Charlotte-based Collett Industrial have formed a joint venture to develop two industrial projects in Greenville for a total investment value of $140 million. Situated within an opportunity zone on the eastern edge of the South Carolina Technology & Aviation Center, the two developments will be adjacent to one another and span 1.2 million square feet upon completion. The co-developers have executed leases or letters of intents with tenants totaling approximately 520,000 square feet for long-term occupancy at one of the projects, which is known as Willimon Business Park. The other property was not disclosed.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Alliance Residential to Build 330-Unit Apartment Community in Northwest Charlotte

by John Nelson

CHARLOTTE, N.C. — Alliance Residential Co. has closed on the land purchase of 18.3 acres at 9741 Mount Holly Road in northwest Charlotte for the development of Prose Rhyne, a new 330-unit apartment community. The garden-style property, which will comprise 11 residential buildings and a clubhouse with a fitness center and pool, will welcome its first residents in fall 2023. Designed by architect Cline Design Associates, Prose Rhyne’s one- and two-bedroom apartments will average 996 square feet in size and feature granite countertops, stainless steel appliances, wood-style flooring, walk-in closets and washers and dryers in every unit. The community is one of five active projects in the Charlotte area for Alliance Residential and the second Prose-branded property in the market.

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DevelopmentFloridaIndustrialSoutheast

Equus Breaks Ground on 378,000 SF Industrial Facility in Punta Gorda, Florida

by John Nelson

PUNTA GORDA, FLA. — Equus Capital Partners Ltd. has broken ground on a 378,000 square-foot speculative warehouse logistics facility in Punta Gorda, a southwest Florida city situated along I-75 near Fort Myers. The project, named Florida Gulf Coast 75 Logistics Center, is being constructed within the Enterprise Charlotte Airport Park. The property will feature 32-foot clear heights, a single-side loading configuration, 54 loading docks and 73 trailer storage spaces opposite the loading docks, as well as LED lighting, 7-inch concrete floors and an ESFR sprinkler system. Equus has tapped Dan Miller of Colliers to lease the facility, which has an anticipated completion of second-quarter 2023. Equus Development LP, Equus’ development operating arm, will oversee development and construction of the Punta Gorda project.

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DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Secures $16.4M in Equity for Apartment Project in Orlando’s Lake Nona District

by John Nelson

ORLANDO, FLA. — Berkadia has secured $16.4 million in equity financing for the construction of Encore Narcoossee, a new 249-unit apartment community underway at 7567 Narcoossee Road in Orlando’s Lake Nona master-planned community. The developer, Dallas-based Encore Multifamily, a division of Encore Enterprises, has also secured a construction loan from Synovus Bank for the project. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia’s JV Equity & Structured Capital team secured the unnamed institutional investment manager as the capital source. This is the third equity placement that Berkadia has structured for Encore Multifamily in the past two years. Upon completion, Encore Narcoossee will feature a mix of studio, one-, two- and three-bedroom apartments averaging 920 square feet, as well as a clubhouse, fitness center and a pool.

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Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Partnership Breaks Ground on 186-Unit Affordable Housing Project in New Rochelle, New York

by Taylor Williams

NEW ROCHELLE, N.Y. — A partnership between two locally based firms, Simone Development Cos. and Stagg Group, has broken ground on West View Apartments, a 186-unit affordable housing project that will be located north of Manhattan in New Rochelle. The project represents the second phase of a larger mixed-use development, the first phase of which added 35,000 square feet of civic and office space to the local supply last summer. The studio, one- and two-bedroom units that will be housed within the 24-story residential building will be reserved for households earning 60 percent or less of the area median income. Completion of West View is slated for summer 2025.

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West-View-Apartments-New-Rochelle
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Partnership Breaks Ground on 186-Unit Affordable Housing Project in New Rochelle, New York

by Taylor Williams

NEW ROCHELLE, N.Y. — A partnership between two locally based firms, Simone Development Cos. and Stagg Group, has broken ground on West View Apartments, a 186-unit affordable housing project that will be located north of Manhattan in New Rochelle. The project represents the second phase of a larger mixed-use development, the first phase of which added 35,000 square feet of civic and office space to the local supply last summer. The studio, one- and two-bedroom units that will be housed within the 24-story residential building will be reserved for households earning 60 percent or less of the area median income. Completion of West View is slated for summer 2025.  

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District-at-Clifton-Heights-Cincinnati
DevelopmentMidwestMixed-UseOhioTop Stories

Trinitas Ventures, Crawford Hoying Begin $250M Phase II of Mixed-Use Project in Cincinnati

by Taylor Williams

CINCINNATI — A partnership between two regional developers, Indiana-based Trinitas Ventures and Ohio-based Crawford Hoying, has started construction of the $250 million second phase of The District at Clifton Heights, a mixed-use project in Cincinnati. The District at Clifton Heights is located across the street from the University of Cincinnati at the site of the former Deaconess Hospital. The first phase of the project centered on construction of The Deacon, an eight-story, 351-bed student housing building that opened in August 2019. Development costs for all phases of the project are estimated at $640 million. The largest piece of the second phase also revolves around student housing. Chicago-based Core Spaces is leading the development of a 14-story tower that will feature 1,112 beds across 380 units. Branded Hub Cincinnati, the project is scheduled for completion in advance of the fall 2024 semester. The other major component of the second phase involves the development of Hotel Celare, a $65 million project. The hotel will rise seven stories, house 171 rooms and 18,000 square feet of meeting space and feature a rooftop bar overlooking the campus entrance. Crawford Hoying is leading the development of the hotel, which is slated for a summer 2024 …

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DevelopmentFloridaIndustrialSoutheast

Stonemont, Geis to Build 500,000 SF Industrial Park in Fort Myers

by John Nelson

FORT MYERS, FLA. — Stonemont Financial Group and joint venture partner Geis Cos. have closed on their purchase of 35 acres in Fort Myers for the development of a 500,000-square-foot, Class A industrial park. The project, known as Legacy at Oriole Road, is slated for completion in second-quarter 2023. The development will include two 250,000-square-foot warehouses designed to accommodate users as small as 37,000 square feet. The buildings will feature 32-foot clear heights, 72 trailer parking stalls and above-standard bay spacing. The property offers proximity to I-75, Route 41 and other major thoroughfares.

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DevelopmentIndustrialTexas

NorthPoint to Develop 2.2 MSF Foster Commerce Center Industrial Park in San Antonio

by Taylor Williams

SAN ANTONIO — Kansas City-based NorthPoint Development will build Foster Commerce Center, a 2.2 million-square-foot industrial park that will be located about 10 miles east of downtown San Antonio. The six-building development will be constructed in phases, with the initial phase comprising two buildings totaling 650,000 square feet. NorthPoint Development expects the project to entail a total capital investment of $230 million and to create more than 1,000 new permanent jobs in addition to about 950 construction jobs. Construction is scheduled to begin before the end of the summer. Stream Realty Partners has been tapped to lease the development.

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