Development

Quadrant Investment to Develop $240M Mixed-Use Project in Metro Dallas

by Hayden Spiess September 11, 2025

ADDISON, TEXAS — Texas-based Quadrant Investment Properties (QIP) will develop a new, $240 million mixed-use project in Addison, a northern metro of Dallas. Earlier this week, the Addison City Council approved a development agreement with the company. Dubbed Addison Junction, the development will span 14 acres and will feature a 155,550-square-foot office building; a 140-room boutique hotel; 30,000 square feet of entertainment space; and The Hangar, a 12,000-square-foot event venue. Plans for the project also include restaurants, a Texas-themed beer garden, rooftop patios and public plazas. A construction timeline was not disclosed. Addison Junction will be connected to Addison Circle Park and the Cotton Belt Trail Corridor, both of which are part of a 57-mile hiking and biking path system. The property will also feature proximity to the Addison Airport, the Dallas North Tollway office corridor and the town’s bus transit center. A new line of the Dallas Area Rapid Transit (DART) commuter rail system and the Addison Circle Silver Line Station are also currently underway near the development site and will offer connectivity to Plano, Richardson, Carrollton, Cypress Waters Dallas and the DFW International Airport. “Addison Junction offers a rare canvas to provide a destination pedestrian-oriented district that will …

September 11, 2025

Development Loans Multifamily Office Texas

CIM Group Provides $132.5M Construction Loan for Office-to-Residential Conversion Project in Dallas

by Taylor Williams September 10, 2025

DALLAS — Los Angeles-based lending and investment firm CIM Group has provided a $132.5 million construction loan for an office-to-residential conversion project in Dallas. The project represents the second phase of Peridot, a development that converted 11 floors of office space within the 50-story Santander Tower in the downtown area into 291 apartments with one- and two-bedroom floor plans. This next phase will add another 105 apartments. The borrower is a partnership between Pacific Elm Properties and Mintwood Real Estate. Santander Tower also houses the 60-room Mint House luxury hotel on floors 49 and 50, which also represents an office conversion. Adolfson & Peterson Construction is the general contractor. A tentative completion date for the next phase of Peridot was not disclosed.

September 10, 2025

Development Industrial Texas

Hillwood to Develop Two Spec Industrial Buildings Totaling 1.1MSF in North Fort Worth

by Taylor Williams September 10, 2025

FORT WORTH, TEXAS — Hillwood will develop two speculative industrial buildings totaling 1.1 million square feet at AllianceTexas, the firm’s 27,000-acre master-planned community in North Fort Worth. Alliance Westport 15 will be a 798,494-square-foot, cross-dock structure with 40-foot clear heights, 190-foot truck court depths, parking for 360 cars and 199 trailers and land for future expansion. Alliance Gateway 34 will be a 310,036-square-foot building with 36-foot clear heights, 190-foot truck court depths and parking for 286 cars and 73 trailers. GSR Andrade designed both buildings. Frost Bank is financing construction, which is scheduled to begin this month and to be complete before the end of next year.

September 10, 2025

McKay-at-Will-Clayton-Logistics-Center-Humble

Development Industrial Texas

Triten Real Estate Completes 171,000 SF Distribution Center in Humble, Texas

by Taylor Williams September 10, 2025

HUMBLE, TEXAS — Locally based developer Triten Real Estate Partners has completed a 171,000-square-foot distribution center in Humble, a northern suburb of Houston. Known as McKay at Will Clayton Logistics Center and built on a speculative basis, the property features multiple drive-up ramps with oversized doors, fenced truck courts, 41 dock-high doors and 4,360 square feet of office space. Project partners included Method Architecture, Angler Construction and Grey Wolf Engineers. CBRE is the leasing agent. Construction began last October.

September 10, 2025

Development Southeast Student Housing Tennessee

Middle Tennessee State University, Annex Group Plan 554-Bed Residence Hall Project

by John Nelson September 10, 2025

MURFREESBORO, TENN. — A public-private partnership between Middle Tennessee State University (MTSU) and The Annex Group has announced plans for Wommack Lane Commons, a 554-bed residence hall project on the MTSU campus in Murfreesboro. The community would replace the existing Wommack Lane Apartments, which were built nearly 50 years ago at the corner of Homecoming Drive and Blue Raider Circle. The partnership will be seeking approval for a ground lease to begin development with the State Building Commission in November. If approved, the community will offer semi-suite and suite-style units with a combination of shared and private bedrooms. Shared amenities will include an entry lounge and lounge space on each floor; a community kitchen and laundry room; private and small group study spaces; and a landscaped courtyard. The development will also include office space. Construction is expected to begin in January 2026 with completion scheduled for fall 2027. The development team includes Smith Gee Studios and SCB. The Annex Group will act as developer, general contractor, facility manager and asset manager for the community, with MTSU providing residence life and leasing services upon completion.

September 10, 2025

Development Multifamily New Jersey Northeast

Vertical Real Estate Completes 67-Unit Multifamily Project in Northern New Jersey

by Taylor Williams September 10, 2025

HO-HO-KUS, N.J. — Vertical Real Estate Capital has completed 619 North, a 67-unit multifamily project located in the Northern New Jersey community of Ho-Ho-Kus. The property offers one- and two-bedroom units and amenities such as a residential lounge, coffee bar, coworking center with private conference rooms, fitness center, sport simulator and a rooftop lounge. Mary Cook Associates handled interior design of the project. Jon Mikula, Max Custer and Michael Donohoe of JLL arranged permanent financing for the project through an undisclosed life insurance company. Rents start at $3,400 per month for a one-bedroom apartment.

September 10, 2025

Arizona Development Retail Western

Vestar to Develop 500,000 SF Laveen Towne Center Retail Project in Southwest Phoenix

by Amy Works September 10, 2025

PHOENIX — Vestar has received approval from the Village Planning Committee to develop Laveen Towne Center, an open-air shopping center in Phoenix’s southwest submarket of Laveen. Set to break ground in summer 2026 with grand opening targeted for winter 2027, Laveen Towne Center will feature 500,000 square feet of retail, dining and entertainment space on 90 acres. Vestar plans to preserve the character and charm of the area through the project’s design and programming. The development will reuse existing materials and features found onsite, including from Hudson Farmhouse and informational plaques will inform visitors about the site and Laveen’s agrarian heritage. Additionally, the project will include a landscaped community space named Laveen Village Green that will host seasonal events, outdoor entertainment and public gatherings throughout the year. Laveen Towne Center is one of five ground-up projects that Vestar has brought to the Phoenix metro area since 2020, with an additional 1.5 million square feet of new projects in pre-development, set to be completed by 2031.

September 10, 2025

Affordable Housing Development Multifamily Nevada Western

NRP Group Breaks Ground on 105-Unit Affordable Housing Community in North Las Vegas

by Amy Works September 10, 2025

NORTH LAS VEGAS, NEV. — The NRP Group has broken ground on North & Valley, an affordable housing development in North Las Vegas. Completion is slated for April 2027. The community will offer 105 units reserved for tenants earning between 50 and 60 percent of the area median income. According to the City of North Las Vegas, residents’ average yearly income is $75,459. The development site spans 5 acres and will comprise two four-story buildings with a mix of one-, two- and three-bedroom residences. Amenities will include a resort-style pool, a rooftop terrace lounge on the fourth floor with seating and views, and an outdoor playground. Financing for North & Valley includes tax credit equity from US Bank, a construction-to-permanent loan from Deutsche Bank, funds from the Nevada Housing Division, Clark County HOME and CHF funds, and City of North Las Vegas HOME funds. By the end of this year, The NRP Group will have broken ground on approximately 1,200 units across four developments in the Las Vegas market.

September 10, 2025

Development Illinois Midwest Multifamily

Conor, LCI to Develop 138-Unit Luxury Apartment Complex in Downers Grove, Illinois

by Kristin Harlow September 10, 2025

DOWNERS GROVE, ILL. — Conor Commercial Real Estate and LCI Development Partners, in partnership with Bailard, have unveiled plans to develop a 138-unit luxury apartment complex in the Chicago suburb of Downers Grove. The six-story project at 750 Curtiss St. will be a three-minute walk to the Main Street Metra Station and two blocks from the Main Street commercial corridor. Units will average 851 square feet. Amenities will include a coffee bar, clubroom, fitness center, coworking hubs, a pool, dog wash and parking garage. The project team includes SGW Architecture & Design and McShane Construction Co. Completion is slated for spring 2027.

September 10, 2025

Development Hospitality Mixed-Use North Carolina Retail Southeast

CBL, Vision Hospitality Open Element by Westin Hotel at Mayfaire Town Center in Wilmington, North Carolina

by John Nelson September 9, 2025

WILMINGTON, N.C. — CBL Properties, in a 49/51 joint venture with Vision Hospitality, has opened a new Element by Westin hotel at Mayfaire Town Center, a 610,000-square-foot, open-air shopping mall in Wilmington. Both CBL and Vision are headquartered in Chattanooga, Tenn. The 139-room hotel is situated on International Drive and includes a lobby bar, 24/7 fitness center and complimentary bicycle rentals. Since 2024, CBL has executed retail leases exceeding 100,000 square feet at Mayfaire, including deals with Dave & Busters, Altar’d State Kids, Rowan, Free People, FP Movement, Warby Parker, Claire’s, Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop and Dry Bar. Additionally, existing tenants like lululemon athletica, Rack Room Shoes and Reed’s Jewelers have remodeled and expanded their stores at Mayfaire. CBL purchased the mall in 2015.

September 9, 2025

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