STOW, MASS. — Massachusetts-based developer Habitech Acquisitions has acquired 37.3 acres in Stow, about 30 miles west of Boston, with plans to construct a 141-unit active adult community. Known as The Cottages at Wandering Pond, the project will feature a recreation area with walking trails, as well as a clubhouse, pool, activity lawn and a pickleball court. Jake Parsons of SVN | Parsons Commercial Group | Boston represented the seller, EFMC Associates, in the land deal and procured Habitech Acquisitions as the buyer. A construction timeline was not disclosed.
DENVER — EMBREY has acquired 219,562 square feet of land in the Washington Virginia Vale neighborhood of Denver for the development of a Class A multifamily community. Located at 5231 Leetsdale Drive, the property is currently home to a small retail strip building and a hardwood flooring company. The buildings will be demolished to make way for the new development, which is set to offer 283 units upon completion. Travis Hodge and Tony Bobay of the Capstone Colorado land team represented the buyer in the acquisition of the development site. A timeline and further details on the project were not announced. EMBREY is also currently developing Belaire, a 354-unit multifamily community in Denver’s 40 West Arts District, which is scheduled for completion in 2025. The project is set to offer shared amenities including a pool, spa, outdoor cooking space, bike workshop and racks, ski gear lockers, lounge areas, a fitness and yoga center and dog park. “EMBREY has been part of the Denver community for 23 years, and over the past decade, the population has continued to soar,” says Executive Vice President Jimmy McCloskey. “We expect strong rental demand as the area continues to grow.” San Antonio-based EMBREY owns, develops, …
It is no secret that the student housing industry was impacted significantly by the COVID-19 pandemic. Few groups felt that more accutely than colleges and universities. New on-campus development slowed dramatically as higher education institutions shifted their focus primarily to keeping classes in session while maintaining student safety. Moving out of the pandemic, new residence hall development has picked up once again — even accelerating past levels seen prior to the pandemic in certain markets. And the focus for many of these new projects is providing collaboration space and allowing for plenty of study room, while keeping costs at a minimum. “When the pandemic started in spring 2020, public-private partnership (P3) activity slowed dramatically as universities and the private sector were forced to address the more immediate issues relating to distance learning implementation, newly enacted health and safety protocols, and mandated government shutdowns,” says James Wilhelm, executive vice president with American Campus Communities (ACC). “However, by fall 2020, certain universities resumed their planning and procurement activities in an effort to position themselves to commence P3 project development in early 2022,” Wilhelm continues. “Since the fall of 2021, we’ve seen P3 planning and procurement activity steadily increase to more normal levels. …
HOUSTON — Locally based developer Vault Partners has begun construction on a 185,250-square-foot warehouse and distribution center in South Houston. The rear-load building will be divisible up to 40,000 square feet and will feature 32-foot clear heights, 34 dock-high doors, two drive-in ramps, and parking spaces for 137 vehicles and 23 trailers. Stream Realty Partners has been tapped as the leasing agent. Shell delivery of the building is scheduled for the fourth quarter.
PHILADELPHIA — A partnership between two developers, Maryland-based Bozzuto and New York-based Kimco Realty, will soon begin construction on Coulter Place, a 131-unit multifamily project in Philadelphia’s Main Line district. The 1.7-acre site is an assemblage of six existing office buildings and their adjoining surface parking lots. Coulter Place will feature onsite parking, 20,000 square feet of ground-floor retail space and 7,000 square feet of indoor amenity space, as well as a pool and two elevated courtyards. Units will come in one- and two-bedroom formats. The development team has secured all necessary approvals and has construction financing in place. A tentative completion date was not released.
ST. LOUIS — The St. Louis Housing Authority has selected Preservation of Affordable Housing Inc. (POAH) to lead the redevelopment of the Clinton-Peabody Apartments in St. Louis. Built in 1942, the property includes 358 units across 31 buildings. POAH says that an initial development phase could start by late 2024, but ultimately the site’s full redevelopment will occur in multiple phases over the next several years with at least $100 million in new investment projected. Resident and community engagement work is underway. The goal is to reposition Clinton-Peabody as a mixed-income community that is better connected to surrounding neighborhoods. POAH Communities LLC, POAH’s affiliated property management firm, will manage the new phases. POAH will also implement its Community Impact platform, which provides resident services focused on housing, education, employment, financial stability and health. The project team includes Roanoke Construction and the design team of Trivers and Lamar Johnson Collaborative. Additional members include landscape architect Arbolope Studio, civil engineer David Mason & Associates and MEP engineer Custom Engineering Inc. Support also comes from the Heartland Black Chamber of Commerce and Unicorn Group, the St. Louis Small Business Empowerment Center, Prosperity Connection and Key Strategic Group.
WHITELAND, IND. — Mohr Capital has completed the development of an 846,260-square-foot industrial facility at its Mohr Logistics Park in the Indianapolis suburb of Whiteland. The property at 5365 N. Graham Road features a clear height of 40 feet. So far, one tenant has signed a lease for 513,000 square feet. A lease for the remaining space is currently under negotiation. Both tenants are expected to occupy the building this summer. The project team included Pepper Construction, Curran Architecture and American Structurepoint. Mark Writt of CBRE handles the leasing.
ATLANTA — Working on behalf of owner Asana Partners, general contractor Balfour Beatty has completed construction of the Krog District redevelopment in Atlanta’s Inman Park neighborhood. Designed by architect ASD | SKY, the project featured site improvements and enhancements to existing properties at Krog District, including the Krog Street Market food hall, as well as two newly constructed mixed-use buildings with retail and office space. The new four-story building and attached five-story parking deck adjacent to Krog Street Market involved the demolition of an existing office structure. Balfour Beatty delivered the building in shell condition for future interior upfits by tenants. Level one is slated for street-facing retail, and the remainder of the building is designated as office space. The new parking deck offers 186 spaces and is already open to the public. The 33,000-square-foot, three-story building at Lake Avenue Northeast and Krog Street Northeast abuts the Atlanta BeltLine’s Eastside Trail and provides new access to Krog Street Market. The building will feature retail and office tenants and was also delivered in shell condition. The redevelopment project also features upgrades to the existing Atlanta Stove Works retail and office building, including landscape and hardscapes, new storefront systems and façade updates, …
MIAMI BEACH, FLA. — Mast Capital, in partnership with Rockpoint, is underway on a nine-story, 178-unit multifamily development located at 3900 Alton Road in Miami Beach. Designed by Arquitectonica, the unnamed apartment community will consist of units ranging from studios to three-bedroom apartments sized from 560 square feet to 1,410 square feet. Amenities will include an elevated pool deck, barbecue area, outdoor gaming area, fitness and yoga studio, resident lounge, coworking spaces and a pet washing station. After securing a $64 million construction loan from PNC Bank in Nov. 2022, Mast Capital and Rockpoint broke ground on the development in February 2023 and plan to open the community by fall 2024.
ROCKLEDGE, FLA. — Madison Communities, a subsidiary of Madison Capital Group, has broken ground on Madison Grove, a 292-unit apartment community in Rockledge. Madison Grove will comprise six four-story apartment buildings and several carriage homes. Amenities will include a clubhouse, fitness center, outdoor lounge with a summer kitchen, resort-style pool and pool deck with grilling stations, recreation areas and cabanas. Madison Grove, located on Rockledge Boulevard, will serve Florida’s Space Coast, a growing region known for its collection of aerospace, engineering and defense industries. Winter Park, Fla-based general contractor Walker & Co. will deliver the property. Madison Communities funded the project through a partnership with Marble Capital and via a construction loan from SouthState Bank. Madison Communities recently acquired sites throughout Florida for future developments, including Bonita Springs, Ruskin, Bradenton, Orlando, St. Augustine, Palm Coast and Jacksonville. Additionally, the developer has new communities under construction in Charlotte, Asheville Charleston and Savannah.