TOMS RIVER, N.J. — New Jersey-based developer Garden Communities has delivered Green Meadows at Pleasant Plains, a 175-unit apartment complex in the coastal community of Toms River. The development features one-, two- and three-bedroom units, with the largest floor plan being 2,330 square feet. Private patios/balconies are available in select residences. Amenities include a pool, fitness center and a community room. The community is now 75 percent leased, with rents for available two- and three-bedroom units starting at $3,425 per month
JERSEY CITY, N.J. — A partnership between Park Stone Management and Fields Grade has completed Le Leo, a 79-unit multifamily project in Jersey City’s Journal Square neighborhood. Designed by Marchetto Higgins Stieve, Le Leo features studio, one- and two-bedroom apartments that are furnished with stainless steel appliances and quartz countertops. Amenities include a fitness center, resident lounge, rooftop terrace, conference room and a dog run. Rents start at approximately $2,500 per month for a studio.
INDIANAPOLIS — Locally based developer Keystone Group and the Indy Eleven professional soccer club have announced plans to break ground this May on Eleven Park, a mixed-use development in Indianapolis. Anchored by a 20,000-seat multipurpose stadium that will host Indy Eleven’s home games, the project will transform the southwest quadrant of downtown Indianapolis. The Indianapolis Star reports the project has a price tag of $1 billion. In addition to the stadium, Eleven Park will feature 600 apartment units; 205,000 square feet of office space; nearly 200,000 square feet of shops and restaurants; a hotel; public plazas with green space housing a dog park, water features and kid’s play areas; and public parking garages. The co-developers also plan for the project to have an indoor, 4,000-seat music and entertainment venue, rooftop bars, walkways along the White River and direct access to The Cultural Trail, an urban trail spanning eight miles. “Eleven Park will not only change the skyline of Indianapolis, but will add over 1,000 jobs, have a huge economic impact, create quality-of-life benefits and attract talent and opportunities to our city and state,” says Ersal Ozdemir, chairman and founder of Keystone Group. Ozdemir also owns the Indy Eleven franchise. “Our …
DURHAM, N.C. — Choate Construction Co., on behalf of White Point, has broken ground on a 160,000-square-foot mixed-use project located within Durham’s Research Triangle Park (RTP). Dubbed Horseshoe, the development will feature two single-story pavilions flanking a five-story office tower with ground-floor retail space. The property will also include a 315,000-square-foot precast parking deck with 1,000 parking spaces. Duda|Paine Architects is the designer on Horseshoe, which will anchor the HUB RTP campus. A construction timeline was not disclosed.
ATLANTA — C3 (Creating Culinary Communities), a food technology platform, and Legends have announced plans for Citizens Market, a 25,000-square-foot food hall set to open at Phipps Plaza in Atlanta in April. Featured eateries at the food hall will include Umami Burger, Krispy Rice, Sam’s Crispy Chicken, Kumi, Sa’Moto, EllaMia, Cicci di Carne, Plant Nation, El Pollo Verde, Stonie Bowls, Frankly by Snap-O-Razzo, Tastemade Me Tacos and Citizens Pizza. The joint venture also has culinary markets planned for this year in Chicago and Miami, as well as a food hall set to open in London next year.
CHARLOTTE, N.C. — Crescent Communities and Nuveen Real Estate are underway on the construction of Monarch Market, an 18,000-square-foot food hall located within One Independence Center in Charlotte. Hospitality HQ will operate the space, which is scheduled to open later this year and will feature 12 food stalls, one full-service restaurant, three bars and a private event space. The event space will include a cocktail lounge with outdoor space, semi-private space available for reservations and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available to those who work at One Independence Center. Elmer Design is the architect and interior designer on the project, with JE Dunn serving as the general contractor. Cushman & Wakefield is providing consulting services, and PNC Bank, U.S. Bank and First National Bank of Pennsylvania have provided financing.
SPRING HILL, FLA. — Associated Bank has provided an $8.6 million loan to an affiliate of Metro Storage LLC for the construction of a self-storage facility located in Spring Hill. Upon completion, the development will comprise 62,856 square feet across 543 units, 504 of which will be climate-controlled. The property will also feature 83 covered and 31 uncovered RV and boat parking spaces. Edward Notz of Associated Bank’s Commercial Real Estate Division originated the loan.
PHILADELPHIA — JLL has arranged a $77.5 million construction loan for a 466-unit multifamily project in Philadelphia’s Northern Liberties neighborhood. Phase I of the development will deliver 279 units, a parking garage and 8,450 square feet of retail space. Amenities will include a pool, fitness center, theater, coworking space, dog run and a convenience mart. Michael Klein, Tom Didio and Ryan Ade of JLL arranged the loan through an undisclosed life insurance company on behalf of the borrower and developer, Saxum Real Estate. A construction timeline was not disclosed.
MILWAUKEE — Crow Holdings has unveiled plans for the South Cargo Logistics Hub at Milwaukee Mitchell International Airport. The proposed, on-tarmac air cargo facility will total 288,000 square feet and feature 74 docks and 99 trailer stalls. Crow will develop the facility on behalf of the airport. David Prell and Scott Furmanski of CBRE will market the project for lease. The project, which is undergoing the approval process, is slated for completion in the second half of 2024. According to a news release, the proposed project would serve as an option for cargo tenants looking to avoid the much higher congestion and costs associated with centering operations out of the Chicago O’Hare International Airport. The project site was home to the 440th Air Reserve Base from the 1950s until July 2010 when it was formally deeded back to the county upon the closure of the base by the Department of Defense. The site has remained physically unchanged since then. The airport has been marketing the site to real estate developers for several years. Crow has led and financed all efforts to date and will continue to do so after the project progresses through permits and any potential remediation.
PHILADELPHIA — A partnership between two locally based firms, Odin Properties and RAM Development, has broken ground on Front Street Lofts, a 31-unit multifamily project in Philadelphia’s Norris Square neighborhood. The six-story building will house studio, one- and two-bedroom units as well as ground-floor commercial space. Completion is slated for fall 2024.