Development

Partnership Opens 192-Unit Affordable Housing Complex in Houston

by Taylor Williams March 24, 2023

HOUSTON — A partnership between The Harris County Housing Authority (HCHA) and LDG Development has opened The Hollows, a 192-unit affordable housing complex in Houston’s Channelview neighborhood. The development offers one-, two- and three-bedroom units that are reserved for households earning 80 percent or less of the area median income. In addition, 15 residences are earmarked for families who have been impacted by homelessness. Physical amenities include a pool, playground and outdoor grilling and dining stations, and residents have access to social service programs focused on health, financial stability and education. Citi Community Capital and Hunt Capital Partners provided financing for The Hollows.

March 24, 2023

Development Life Sciences New Jersey Northeast

Meyer, IPS Top Out 400,000 SF Life Sciences Project in Hopewell, New Jersey

by Taylor Williams March 24, 2023

HOPEWELL, N.J. — A development team that includes Philadelphia-based architecture firm Meyer and IPS Integrated Project Services has topped out a 400,000-square-foot life sciences project in Hopewell, a suburb of Trenton. The manufacturing and research facility is a build-to-suit for BeiGene, a global biotech firm that develops cancer medicines. The site spans 42 acres within the Princeton West Innovation Campus. Full completion is slated for 2024.

March 24, 2023

Development Midwest Missouri Retail

Development Team Underway on Rock Island Bridge Redevelopment Project in Kansas City

by Kristin Harlow March 24, 2023

KANSAS CITY, MO. — Developer Michael Zeller and his project team are underway on the redevelopment of Rock Island Bridge in Kansas City. The bridge is a historical landmark dating back to 1906 that is being transformed into a recreational space. Plans call for 11,000 square feet of multipurpose space for open-air food courts, a food hall with industrial kitchens, office, retail and 8,000 square feet of event space with a removable cover and open-air veranda. Construction began in February and is slated for completion in spring 2024. MultiStudio, formerly known as Gould Evans, is the project architect. Thornton Tomasetti and TranSystems are the engineers. L.G. Barcus & Sons Construction Co. is building the lower and upper decks, while Centric Construction Co. is working on the buildings and finishes. HNTB is working on the design of the levee frontage and surrounding land. Stinson LLP assisted the development team in navigating legal issues concerning ownership rights of the bridge over a state-owned waterway. These issues included federal railroad law, state and federal highway/transportation laws, Kansas water law and general Kansas property law.

March 24, 2023

Development Kansas Midwest Multifamily

Hunt Midwest, LANE4 Set to Break Ground on 228-Unit Luxury Apartment Complex in Kansas City

by Kristin Harlow March 24, 2023

KANSAS CITY, KAN. — Co-developers Hunt Midwest and LANE4 Property Group are set to break ground later this month on The Hudson, a 228-unit luxury apartment complex in Kansas City’s Rosedale neighborhood. The project will be situated adjacent to The University of Kansas Health System campus at the corner of 36th Street and Rainbow Boulevard. The community will be built in partnership with KU Endowment. The Hudson’s name is a nod to historic Kansas City, where Rainbow Boulevard was once known as Hudson Road until it was renamed in 1919. Amenities will include a hotel-style lobby, fitness center, garage parking, pet-friendly spaces, a business center and fifth-floor clubroom with an outdoor terrace. Demolition of the former Cambridge West apartments on the project site wrapped up last summer. The Hudson is slated for completion in summer 2025. Security Bank provided financing. BRR Architecture is the architect, MW Builders is the general contractor and Olsson is the civil engineer.

March 24, 2023

Development Midwest Minnesota Restaurant Retail

Kraus-Anderson Begins $2M Renovation for Modist Brewing in Minneapolis

by Kristin Harlow March 24, 2023

MINNEAPOLIS — Kraus-Anderson has begun a $2 million renovation project for Modist Brewing Co. in Minneapolis. Designed by Perkins & Will, the 7,000-square-foot renovation of Modist’s existing North Loop building will add new offices, a brewing lab and event space. There will be a two-story event space along with a pre-function bar and waiting area. Kraus-Anderson is working in partnership with J. Benson, a minority business enterprise contractor. Completion is slated for mid-July. Modist Brewing is located at 505 N. 3rd St. within the city’s warehouse district.

March 24, 2023

Development Industrial Loans New York Northeast Top Stories Walker & Dunlop

Walker & Dunlop Arranges Construction Financing for $146M College Point Logistics Center in Queens

by Jeff Shaw March 24, 2023

NEW YORK CITY — Walker & Dunlop’s capital markets team has arranged $94 million in construction financing for the development of College Point Logistics Center in the College Point neighborhood of Queens, just across Flushing Bay from LaGuardia International Airport. A joint venture between Wildflower Ltd. and Drake Real Estate Partners is developing the project, with construction costs estimated at $146 million. College Point Logistics Center will be a ground-up warehouse and structured parking facility. The property will feature 81,000 square feet of rentable industrial space, as well as 160,000 square feet of enclosed parking across two floors and 68,000 square feet of surface-level parking. Wildflower designed the project with ground-floor warehouse space and multi-story parking to maximize the project’s efficiency and meet the needs of modern industrial and logistics tenants. College Point Logistics Center is located alongside the Whitestone Expressway, making it accessible to LaGuardia and John F. Kennedy International Airports, the New York and Atlantic Railways and the Red Hook Container Terminal. Development of the facility is scheduled for completion in the second quarter of 2024. Jonathan Schwartz, Aaron Appel, Mo Beler, Ari Hirt and Triston Stegall led the Walker & Dunlop team in securing the floating-rate loan on behalf of …

March 24, 2023

Development Multifamily Washington Western

MSquared Receives Funding for $54M Mixed-Income Apartment Project in Lynnwood, Washington

by Jeff Shaw March 23, 2023

LYNNWOOD, WASH. — MSquared has received $54 million in funding for Kōz on Alderwood, a 200-unit apartment development in the Seattle suburb of Lynnwood. Kōz Development is partnering with MSquared on the mixed-income, transit-oriented development. The project is being financed by $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. Construction of Kōz on Alderwood is scheduled to begin in spring 2023, with a planned completion date of early winter 2025.

March 23, 2023

Development Healthcare Massachusetts Northeast

Seaman DiCarlo Completes Renovation Project at 229-Bed Hospital in Winchester, Massachusetts

by Taylor Williams March 23, 2023

WINCHESTER, MASS. — General contractor Seaman DiCarlo has completed the renovation of the radiology oncology department at Winchester Hospital, a 229-bed facility located on the northwestern outskirts of Boston. The hospital is part of the Beth Israel Lahey healthcare system. Locally based design firm Margulies Perruzzi served as the project architect and has now completed 28 collaborations with Beth Israel Lahey, including eight at Winchester Hospital.

March 23, 2023

Development Industrial North Carolina Southeast

Collett Industrial to Develop 693,020 SF Northside 77 Business Park in Troutman, North Carolina

by John Nelson March 23, 2023

TROUTMAN, N.C. — Collett Industrial plans to develop Northside 77, a three-building industrial park in the northern Charlotte suburb of Troutman. Situated along I-77, the park will comprise Building 1 (217,620 square feet), Building 2 (340,200 square feet) and Building 3 (135,200 square feet). Collett Industrial has tapped Grant Miller and Phoebe Dinga of Colliers’ Charlotte office to handle the leasing assignment for the project. The Charlotte-based developer plans to break ground in the third quarter and deliver the park in the second half of 2024. Colliers’ Charlotte office is also the leasing agent for Collett’s Airport 85 Business Center industrial park in Charlotte.

March 23, 2023

Development Multifamily New Jersey Northeast

Fields Grade, Slokker Group Begin Leasing 109-Unit Apartment Building in Rahway, New Jersey

by Taylor Williams March 23, 2023

RAHWAY, N.J. — A partnership between developers Fields Grade and The Slokker Group has begun leasing a 109-unit apartment building in the Northern New Jersey community of Rahway. The building is the second at The Mint, a development in the downtown area, the first phase of which consisted of 116 units that were completed in 2020. The new building rises six stories and offers studio, one- and two-bedroom units, as well as Class A amenities. Rents start at $2,095 per month for a studio apartment.

March 23, 2023

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