Development

Merlin Entertainments to Open Peppa Pig Theme Park in North Richland Hills, Texas

by Taylor Williams March 9, 2023

NORTH RICHLAND HILLS, TEXAS — Merlin Entertainments, an operator based in the United Kingdom, will open a theme park in North Richland Hills, a suburb of Fort Worth, that will be dedicated to children’s character Peppa Pig. The size of the park, which will feature multiple rides, interactive attractions, themed playscapes and shows, was not disclosed. The location, which is next to the NRH2O Family Water Park, formerly housed Mountasia Family Fun Center. The opening is slated for 2024. Merlin Entertainments, which operates facilities for concepts including Legoland and Sea Life Aquariums, has a licensing agreement with toymaker Hasbro, which owns the intellectual property rights to Peppa Pig and associated characters.

March 9, 2023

Affordable Housing Development Multifamily Texas

Palladium Underway on 240-Unit Mixed-Income Residential Project in Fort Worth

by Taylor Williams March 9, 2023

FORT WORTH, TEXAS — Locally based developer Palladium USA is underway on construction of Palladium Oak Grove, a 240-unit mixed-income residential project in Fort Worth. Residences will come in one, two- and three-bedroom formats, and amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s playroom and a resident clubroom. Cross Architects is designing the project, and Treymore Construction is the general contractor. The Texas Department of Housing & Community Affairs issued $25.6 million in tax-exempt bonds that were purchased by Cedar Rapids Bank & Trust to fund the project. PNC Bank also provided over $23 million in equity. Palladium Oak Grove’s first units are expected to be complete in May 2024.

March 9, 2023

Affordable Housing Development Florida Loans Southeast

KeyBank Provides $49M Construction Financing for Affordable Housing Development in Tallahassee

by John Nelson March 9, 2023

TALLAHASSEE, FLA. — KeyBank Community Development Lending and Investment (CDLI) and KeyBank Real Estate Capital have provided $49 million in construction financing for Magnolia Family II, an affordable housing development in Tallahassee. The community’s 160 units will feature 128 apartments that will be affordable to households earning 33 percent and 60 percent of the area median income (AMI). The remaining 32 units will be rented at market rates. The borrower is Columbia Residential, which is developing Magnolia Family II in partnership with the landowner, Tallahassee Housing Authority. CDLI provided a $33 million construction loan and a $15.9 million Freddie Mac forward commitment permanent loan to Columbia Residential. Reginald Fenn of CDLI and Leslie Meyers of KeyBank originated the financing. Additionally, RBC provided $19.5 million in LIHTC equity, and Tallahassee Housing Authority approved project-based vouchers. Magnolia Family II is the second phase of the redevelopment of a public housing complex operated by the Tallahassee Housing Authority that was originally constructed between 1971 and 1972. Phase I of Magnolia Family is set to open in November.

March 9, 2023

Development Multifamily New Jersey Northeast

Hall Structured Finance Provides $52.5M Construction Loan for Northern New Jersey Multifamily Project

by Taylor Williams March 9, 2023

NORTH BERGEN, N.J. — Hall Structured Finance, a Dallas-based lender, has provided a $52.5 million construction loan for The Braddock Apartments, a 135-unit multifamily project located across the Hudson River from Midtown Manhattan in North Bergen. New York City-based Sanz Management is developing the 10-story building, which will also house 2,400 square feet of retail space. Units will come in studio, one- and two-bedroom floor plans and will be furnished with stainless steel appliances, walk-in closets and individual washers and dryers. Private balconies/patios will also be available in select residences. Amenities will include a fitness center, coworking lounge and a rooftop terrace. Peter Nicoletti, Dylan Kane and Zach Redding of Colliers arranged the loan. Construction is slated for a summer 2025 completion.

March 9, 2023

Development Multifamily New Jersey Northeast

Prism Capital Partners Completes Two Multifamily Buildings Totaling 84 Units in Dunellen, New Jersey

by Taylor Williams March 9, 2023

DUNELLEN, N.J. — Locally based developer Prism Capital Partners has completed two multifamily buildings totaling 84 units in the Central New Jersey community of Dunellen. Designed by Spiezle Architectural Group, the buildings are the second and third structures to be delivered within The Nell, a development that will ultimately consist of 252 units across six buildings. Units come in one- and two-bedroom formats, with rents starting at $2,075 per month for the former floor plan.

March 9, 2023

Development Midwest Mixed-Use Multifamily Office Ohio Retail Top Stories

N.R. Investments Starts Construction of $300M Rockwell District Mixed-Use Redevelopment in Whitehall, Ohio

by Katie Sloan March 9, 2023

WHITEHALL, OHIO — N.R. Investments has started construction of a three-phase, $300 million mixed-use project located at the corner of East Broad Street and North Hamilton Road in the Columbus suburb of Whitehall. The development will be named Rockwell District, according to reports by Columbus Business First. The 50-acre project, which is being developed in partnership with the Central Ohio Community Improvement Corp. and the City of Whitehall, is set to include 1,000 residential units, 250,000 square feet of Class A office space and 75,000 square feet of retail and restaurants upon completion. The residential portion of the property will offer a mix of for-sale and for-rent units, 20 percent of which will be dedicated workforce housing. The redevelopment will be fully integrated with the adjacent Whitehall Community Park, an 80-acre nature park with access to Big Walnut Creek, walking paths and sport fields. N.R. Investments is the master developer for the project. Duany Plater-Zyberk, M + A Architects, Ruscilli Construction Co., EMH&T and additional community partners collaborated with N.R. Investments on the site plan for the development. Phase I is scheduled for completion in 2025. The Ohio Department of Development awarded a $4.2 million grant to the City of …

March 9, 2023

Development Life Sciences Texas

PackGene Biotech Underway on 25,000 SF Life Sciences Project in South Houston

by Taylor Williams March 8, 2023

HOUSTON — PackGene Biotech, a Massachusetts-based provider of gene therapy solutions, is underway on construction of a 25,000-square-foot life sciences project in South Houston. The site at 9310 Kirby St. will feature space for biomanufacturing, research and development, lab operations, warehousing and office usage. Perkins&Will is designing the facility and BE&K Building Group is serving as the general contractor. Completion is slated for the end of the year.

March 8, 2023

Development Multifamily New York Northeast

United Group of Cos. to Develop 222-Unit Multifamily Project Near Albany, New York

by Taylor Williams March 8, 2023

GUILDERLAND, N.Y. — United Group of Cos. will develop The Apex at Crossgates, a 222-unit multifamily project located northwest of Albany in Guilderland. The community will feature one-, two- and three-bedroom apartments, as well as townhouse-style residences. Units will be furnished with stainless steel appliances, quartz countertops, designer fixtures, walk-in closets and private patios/balconies. Amenities will include a fitness center with a yoga studio, game room with pool card tables, dog park, outdoor kitchens and multi-sport courts. Trinity Building + Construction Management Corp. is the general contractor for the project. M&T Bank provided financing for construction, which is expected to last about 24 months.

March 8, 2023

Development Life Sciences Massachusetts Northeast

Davis Cos. Tops Out 161,616 SF Life Sciences Facility in Cambridge, Massachusetts

by Taylor Williams March 8, 2023

CAMBRIDGE, MASS. — Locally based investment and development firm The Davis Cos. has topped out a 161,616-square-foot life sciences facility at 101 Smith Place in Cambridge. The facility is one of four buildings within The Quad, a life sciences campus that is home to tenants such as Ginko Bioworks, Civetta Therapeutics, Invaio Sciences, Hyperion and Samsung Electronics. Davis Cos. is developing 101 Smith Place in partnership with Invesco Real Estate. Full completion is slated for the fourth quarter. CBRE will market the facility for lease.

March 8, 2023

Development Loans New Jersey Northeast

Progress Capital Arranges $14.9M Construction Loan for Northern New Jersey Multifamily Redevelopment

by Taylor Williams March 8, 2023

ROSELLE PARK, N.J. — Locally based financial intermediary Progress Capital has arranged a $14.9 million construction loan for Hunter Lofts, a 57-unit multifamily redevelopment project in the Northern New Jersey community of Roselle Park. The site formerly housed the operations of H&H Building Supply. Six of the units will be reserved as affordable housing, and the new development will include 4,000 square feet of retail space. Kathy Anderson and Caillin Boles of Progress Capital arranged the loan through Columbia Bank on behalf of the developer, The Kontos Group.

March 8, 2023

Newer Posts

Older Posts