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DevelopmentMichiganMidwestMultifamily

SK Investments Group Unveils Plans to Build 1,200-Unit Apartment Project in Pontiac, Michigan

by Kristin Harlow

PONTIAC, MICH. — SK Investments Group has unveiled plans to build The Shores at Crystal Lake, a 34-acre development with more than 1,200 apartment units in Pontiac, a northern suburb of Detroit. Plans also call for a mix of retail, dining, recreational and entertainment space. The project team includes architect Kreiger-Klatt and civil engineer and surveying firm Spalding DeDecker. Tim O’Brien, a Pontiac native and former principal of local development company O’Brien Group, will serve as strategic advisor. The site plan final approval is anticipated for this fall, with construction expected to begin in mid-to-late 2023. SK Investments Group is a South Florida-based developer.

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DevelopmentRetailTexas

Garansuay Group Breaks Ground on 40,000 SF Retail Project in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — San Antonio-based Garansuay Group has broken ground on Shops at N Bridge, a 40,000-square-foot retail project in Weslaco, located near McAllen in the Rio Grande Valley. The 10-acre site includes four pads and is situated at the corner of North Bridge Avenue & Expressway 83. Freddy’s Frozen Custard & Steakburgers, Juice Us and Paris Bakery have already signed leases at Shops at N Bridge. A tentative completion date was not released.

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DevelopmentLoansOfficeTexas

Granite Properties Receives Construction Financing for 143,500 SF Office Project in Southlake, Texas

by Taylor Williams

SOUTHLAKE, TEXAS — Granite Properties has received an undisclosed amount of construction financing for Granite Place II at Southlake Town Square, a 143,500-square-foot office project in metro Dallas. Granite Properties is developing the five-story building in partnership with N5B Capital. Amenities will include outdoor work and meeting space, a corporate living room, fitness center and a grab-and-go food service. Trey Morsbach and Jim Curtin of JLL arranged the financing through Bank OZK. DPR Construction is the general contractor for the project. Sitework is underway, and completion is slated for March 2023.

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DevelopmentMultifamilyNorth CarolinaSoutheast

ZOM Living, AEW Capital to Develop 248-Unit Apartment Community in Downtown Durham

by John Nelson

DURHAM, N.C. — ZOM Living and AEW Capital Management have purchased a site at 500 E. Main St. in downtown Durham for the development of Maizon Durham, a 248-unit apartment community. The co-developers also secured $49 million in construction financing from Santander Bank. The project team includes architect Hord Coplan Macht, interior designer One Line Design Studio and general contractor LeChase Construction. Set to break ground this summer, Maizon Durham will feature studio, one-, two- and three-bedroom units ranging in size from 555 to 1,450 square feet, as well as coworking and conference spaces, a fitness center, dog spa, clubroom, 13,000 square feet of retail space and a swimming pool and sundeck.

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DevelopmentRetailTexas

Hill Country Studios to Open $267M Film, TV Production Center in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Hill Country Studios will open a $267 million film and TV production center in San Marcos, located roughly midway between Austin and San Antonio. The site spans 209 acres and is located at the entrance of the La Cima master-planned community. Hill Country Studios will include 12 sound stages totaling 310,000 square feet, two back lots totaling 15 acres of outdoor production space and 310,000 square feet of modular offices and four workshops. The facility will also feature post-production facilities, a 50-seat screening theater and a full-service restaurant and coffee shop. In addition, 25 acres will be reserved for vendor and commercial space built to serve both the studio and surrounding community. Foley Design is the project architect. Construction is slated to begin early next year.

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DevelopmentIndustrialMidwestOhio

Stonemont Financial Group to Build 450,000 SF Spec Industrial Development Near Cleveland

by Kristin Harlow

WESTFIELD CENTER, OHIO — Stonemont Financial Group has unveiled plans to build a 450,000-square-foot speculative industrial development in Westfield Center near Cleveland. Named Westfield Commerce Park, the Class A facility marks Stonemont’s first speculative development in Northeast Ohio. Plans call for a clear height of 36 feet, cross-dock configuration, 500 car parking spaces, 130 trailer stalls, 65 dock doors and four drive-in doors. Stonemont is the developer, while Pinnacle Bank and PCCP are debt and capital partners. JLL will oversee lease-up. Completion is slated for the first quarter of 2023.

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ColoradoDevelopmentIndustrialWestern

Starpoint Properties Plans 155,000 SF Point Central Business Park in Denver

by Amy Works

DENVER — Starpoint Properties is developing Point Central Business Park, a two-building, 155,000-square-foot industrial complex in central Denver. Situated on 9.6 acres at 1051 E. 73rd Ave., the property will feature 155,000 square feet of Class A, LEED-certified industrial and warehouse space. Groundbreaking for the property is slated for July, with completion scheduled for summer 2023. Drew McManus, Ryan Searle and Bryan Fry of Cushman & Wakefield are handling leasing for the project. Point Central Business Park will offer two buildings: an 81,800-square-foot asset and a 73,500-square-foot building. The buildings will offer office space to suit, clerestory windows, high parking ratio, monument and building signage, a combined 25 dock doors, four drive-in doors and other modern design and functionality elements.

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DevelopmentIllinoisMidwestMixed-UseTop Stories

CRG, Shapack Partners to Redevelop Former Bridgford Food Plant in Chicago into 750,000 SF Mixed-Use Project

by Kristin Harlow

CHICAGO — A joint venture between CRG and Shapack Partners has acquired the former Bridgford Foods Corp. food processing facility in Chicago’s Fulton Market district with plans to redevelop the site into a 750,000-square-foot mixed-use project. The development is slated to feature 250 apartment units, 350,000 square feet of Class A office space, 150 boutique hotel rooms and 40,000 square feet of retail space. Located at 170 N. Green St., the project site spans nearly an entire city block near the Chicago Transit Authority Pink Line and Green Line station at Lake and Morgan streets. CRG’s parent company, Clayco, will serve as general contractor and its subsidiary, Lamar Johnson Collaborative, is the architect. Paige O’Neil and Annie Kwasigroch of Shapack will oversee lease-up of the office and retail space. CRG anticipates that construction could begin as early as this fall. A timeline for completion was not provided. “This location is a tailor-made opportunity to meet the overwhelming trend of flight to quality we are seeing in the city,” says CBRE’s Keely Polczynski, who represented Bridgford in the sale. “Employers are investing in upgraded spaces to boost employee engagement as well as attract and retain talent.” According to CBRE, 60 office …

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DevelopmentGeorgiaMixed-UseMultifamilySoutheast

ECI, Phoenix Capital Begin Construction on $101M Apartment Community in Roswell, Georgia

by John Nelson

ROSWELL, GA. — A joint venture between ECI Group and Phoenix Capital has broken ground on Averly East Village, a $101 million luxury apartment and townhome community in the Atlanta suburb of Roswell. The developers expect to deliver the property in late 2024. Truist Financial provided construction financing for the project, which Rule Joy Trammell Rubio Architects designed. The multifamily project is part of a mixed-use redevelopment of East Village Shopping Center, and Ardent Cos. will continue to own the retail component. Amenities will include a pool with a sun shelf, pool deck with cabanas, two outdoor kitchens, clubroom, synthetic turf dog park and dog spa, two-story fitness center, outdoor gym, coffee lounge with individual work spaces and secure bicycle storage. At full buildout Averly East Village will include one-, two- and three-bedroom apartments and townhomes, as well as 75,000 square feet of retail space and a large central green space.

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DevelopmentGeorgiaIndustrialSoutheast

Seefried, Clarion to Build 969,620 SF Distribution Center Campus in Buford, Georgia

by John Nelson

BUFORD, GA. — Seefried Industrial Properties and Clarion Partners plan to develop Buford North Distribution Center, a 969,620-square-foot logistics park in the Atlanta suburb of Buford. The speculative project will include three buildings located along I-985 in Hall County. All three buildings will include 185-foot concrete truck courts, 36-foot clear heights and ESFR sprinklers. Seefried and Clarion recently purchased an 80-acre site about 40 miles northeast of Atlanta near I-85. The first facility is slated to break ground in August and full completion is anticipated for the fourth quarter of 2023. The project team includes civil engineer Eberly & Associates and architect Atlas Architecture. Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will oversee leasing efforts.

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