JERSEY CITY, N.J. — Coldwell Banker has begun leasing Aspira, a 60-unit apartment complex located in Journal Square neighborhood of Jersey City. The six-story building offers studio and one-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a package handling room, bike storage space and a rooftop deck/garden. Rents start at $1,850 per month for a studio. The owner/developer was not disclosed.
PLANO, TEXAS — NexPoint, a Dallas-based alternative investment firm, has announced plans for TxS District, a 200-acre life sciences development in Plano. The project, named to signify ‘Technology x Science,’ centers on a 91-acre main campus, which previously served as headquarters for Electronic Data Systems. The district would incorporate 109 additional acres in the Legacy neighborhood. In total, the project would create over 4 million square feet of lab, office and production space across four phases of construction. NexPoint purchased the main campus in 2018 and has been acquiring the additional acreage since that time. Phases I and II of the project propose to transform two existing buildings on the main campus into 970,000 square feet of lab and office space and 120,000 square feet of amenity space. Initial site improvement plans also include a public park, amphitheater and connectivity to the nearby Legacy retail development. The developer plans to break ground on Phase I before the end of the year. NexPoint has proposed that the project be achieved through a public-private partnership. The firm is working with the City of Plano on development plans and the project’s impact on the surrounding area. “Not only would this project be a …
FLORIDA CITY, FLA. — Coral Rock Development Group has unveiled plans for Card Sound Key Apartments, a 342-unit multifamily community to be developed at 35800 S. Dixie Highway in Florida City, roughly 35 miles southwest of Miami. Upon completion, the development will comprise six four-story buildings, with units in one-, two- and three-bedroom layouts. Twenty percent of the units will be reserved for workforce housing, with the other 80 percent rented at market rates. Amenities at the community will include a Vita Course with several workout stations, a pool, barbecue area, two-story clubhouse, dog park, children’s playground and pickleball court. Construction of the project, which is designed by Pascual, Perez, Kiliddjian, Starr & Associates, is scheduled to begin in the first quarter of 2024. Completion is expected in early 2025.
GAINESVILLE, GA. — Branch Properties has acquired 14 acres at the intersection of Limestone Parkway and New Holland Way in Gainesville, roughly 55 miles northeast of Atlanta, for the construction of Limestone Marketplace. Upon completion, the shopping center will comprise 76,764 square feet and feature a 54,964-square-foot Publix anchor store. The property will also include three outparcels ranging in size from one to three acres. Branch will break ground on the development in the spring, with completion scheduled for the second quarter of 2024. A sales price for the land was not disclosed.
ANNAPOLIS, MD. — UC Funds has provided a $20 million first mortgage for a multifamily project located in the Washington, D.C.-Baltimore market near Annapolis. Upon completion, the development will feature 60 units and 19,000 square feet of retail space. Further details on the project and construction timeline were not disclosed.
OHIO, MICHIGAN AND TENNESSEE — Ultium Cells LLC, a joint venture between General Motors and LG Energy Solutions, has received a $2.5 billion loan from the U.S. Department of Energy (DOE) Loan Programs Office (LPO). The loan will help finance the construction of three new lithium-ion battery cell manufacturing facilities in Warren, Ohio; Lansing, Mich.; and Spring Hill, Tenn. JLL assisted the DOE in the credit risk evaluation of the project structure, including the allocation of risk, the strength of construction, supply and purchase contracts. JLL also negotiated the loan terms and conditions. The construction projects are expected to create more than 11,000 jobs. The three new facilities will manage battery cell production to respond to the growing U.S. consumer demand for electric vehicles. The transaction marks LPO’s first closed loan exclusively for a battery cell manufacturing project under the Advanced Technology Vehicles Manufacturing program. In October, the federal government launched the American Battery Materials Initiative to grow the end-to-end battery supply chain alongside $2.8 billion in grants from the DOE.
PARSIPPANY, N.J. — A partnership between Los Angeles-based PCCP LLC, Claremont Development and Stanbery Development will build The District at 1515, a 498-unit multifamily project in the Northern New Jersey community of Parsippany. The four-building development will include 58,866 square feet of retail space that will be marketed to a mix of full-service and fast casual restaurants, as well as fitness users and soft goods merchandisers. Residential amenities will include a pool, fitness center, lounge area, conference center and a pet spa. Completion is slated for early 2025.
BOUND BROOK, N.J. — Accurate has begun leasing Citizen Bound Brook, a 105-unit apartment complex in Northern New Jersey. Designed by Jarmel Kizel Architects & Engineers, the property offers studio, one- and two-bedroom units with stainless steel appliances, quartz countertops and tile backsplashes. Amenities include a clubroom, fitness center and a landscaped terrace. The building also houses 5,000 square feet of street-level retail space. Rents start at approximately $1,600 per month for a studio
GREENVILLE, S.C. — GE Appliances (GEA) has announced plans for a new 584,820-square-foot distribution facility located in Greenville. Provident Realty Advisors Inc. is the developer for the project. Situated within August Grove Business Park, the development is scheduled for completion in the first quarter of 2024. GEA plans to invest $50 million in the facility, which marks the company’s second location in the state.
TAMPA, FLA. — Ryan Cos. U.S. Inc. has broken ground on the new Tampa headquarters for Feeding Tampa Bay, a nonprofit organization. Upon completion, which is scheduled for 2024, the facility will comprise 210,463 square feet and serve as the primary distribution facility for the organization. The headquarters will include 41,000 square feet of cold storage warehouse space, offices, 11,000-square-foot kitchen and a mezzanine level. In addition to producing up to 6,000 meals per day, the kitchen will serve as a classroom to teach culinary skills. BDG is the architect of record for the project. Ryan is the design-build firm and is also making a financial contribution to Feeding Tampa Bay.