JACKSON, GA. — Procter & Gamble (P&G), a consumer goods manufacturer and distributor based in Cincinnati, plans to invest $205 million for a new automated distribution facility in Jackson. The 1 million-square-foot property will be located at 950 Logistics Parkway in Butts County, about 50 miles south of Atlanta near I-75. The global firm partnered with the Georgia Department of Economic Development’s Global Commerce team, Development Authority of Butts County, Metro Atlanta Chamber, Georgia Ports Authority and Georgia Power on the project, which is expected to bring 350 new jobs to the trade area. The developer and a construction timeline were not disclosed. P&G’s brands include Crest, Pampers, Tide, Bounty, Charmin, Always, Gillette, Old Spice, Pantene, Head & Shoulders, Cascade, Dawn, Febreeze, Mr. Clean and Swiffer, among others. In addition to the new Jackson facility, P&G operates a manufacturing facility in Albany, Ga., and a distribution center in metro Atlanta.
GAINESVILLE, FLA. — Pacific Western Bank and Square Mile Capital have provided a $93 million construction loan for Theory Gainesville, an 861-bed student housing community underway within a half-mile from University of Florida. Pacific Western was the primary lender, and Square Mile was the mezzanine capital provider. The borrower and developer is Blue Vista Capital Management, a Chicago-based entity that has a student housing affiliate, PeakMade Real Estate. Blue Vista expects to deliver Theory Gainesville in two phases: Phase I before the fall 2023 semester and Phase II before the spring 2024 semester. Upon completion, the property’s units will be fully furnished with stainless steel appliances and wood-style flooring. Theory Gainesville will also have a fitness center, game room, rooftop pool and open green space.
ARLINGTON, TEXAS — The Cordish Cos., a Baltimore-based developer and operator specializing in sports-themed entertainment projects, will develop One Rangers Way, a 300-unit multifamily project in Arlington. The community will be located near Globe Life Field, home of the MLB’s Texas Rangers, and within Cordish’s Arlington Entertainment District. Designed by Hord Coplan Macht, One Rangers Way will offer one- and two-bedroom units, as well as penthouses, in addition to a 423-space parking garage and 43,000 square feet of indoor and outdoor amenities. Specifically, amenities will include a pool, fitness center, coworking spaces, indoor and outdoor lounges and concierge services. Construction is scheduled to begin this fall and to be complete in 2024.
SAVANNAH, GA. — Walker & Dunlop Inc. has arranged $47 million in financing for the development of The Line, a 219-unit multifamily project that is within the bounds of a designated opportunity zone in downtown Savannah. Walker & Dunlop arranged construction financing on behalf of the developer, Standard Communities. Financing was sourced from a regional life insurance company and includes both construction and permanent financing within a single loan. Situated just three blocks from the Savannah River, The Line will include two buildings and will feature a full upscale amenity package, including a terrace level with a pool, sundeck, fitness center and grill area. The Class A project will also include onsite parking, a clubroom with views of downtown Savannah and the Savannah River and resident storage.
JERSEY CITY, N.J. — A joint venture between Kushner Real Estate Group (KRE) and Northwestern Mutual has completed the lease up of 351 Marin, a 507-unit multifamily project in Jersey City’s Powerhouse Arts District. The property is now fully occupied. Designed by Hollwich Kushner and HLW Architects, the 38-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and Whirlpool washers and dryers. Amenities include a sky lounge, pool, fitness center with a yoga studio, outdoor grilling stations, community garden and a dog park.
EVANSTON, ILL. — Evergreen Real Estate Group and Council for Jewish Elderly, doing business as CJE SeniorLife, have completed Ann Rainey Apartments, a $25 million affordable seniors housing community in Evanston. The 60-unit project is located at 1011 Howard St. next to the existing CJE SeniorLife Adult Day Services Center, which provides programming and socialization opportunities for seniors who require supervision. The new community is named for Ann Rainey, who served as alderman of Evanston’s 8th Ward for more than three decades. Units at the property are restricted to residents who earn up to 60 percent of the area median income. Amenities include a community room, fitness center, outdoor terrace, second-floor deck and lounge areas. Housing and Human Development Corp., a Chicago-based nonprofit that serves low-income seniors and families, will provide a part-time social service coordinator for the property. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor. Architecture firm UrbanWorks designed the community, which is anticipated to receive LEED Silver certification. A partnership between Evergreen, CJE and U.S. Bancorp Community Development Corp. owns Ann Rainey Apartments. Financing for the project came from IFF, provider of the pre-development loan; U.S. Bank, provider of the construction …
By Greg Lyon, Chairman and Principal, Nadel Architects The appearance of retail is always evolving in terms of space and function. Today, however, it is becoming increasingly important to ensure a shopping center is the “place to be” in a community to achieve long-term success. This strategy allows developers to consistently deliver retail projects that attract crowds, encourage increased length of stay and repeat visits, and set the bar for the next evolution of retail. But how can retail designers work with developers to create this go-to destination within a community? Use Demographics, Psychographics to Inform Design Plans When you’re creating authenticity, you want to analyze not just a region’s demographics, but its psychographics as well. Every, single community is different and there is no one-size-fits-all approach when it comes to creating a center that resonates. For example, Trails at Silverdale, a 35-acre shopping and dining destination in Silverdale, Wash., speaks to the very distinct lifestyle of the region. Pacific Northwest shoppers enjoy the outdoors, are dedicated to sustainable living, and are drawn to authentic architectural elements that are innovative and youthful, while still conveying an elevated and sophisticated experience. Having a diverse, complementary mix of tenants, programmed common areas, pop-up experiences, and experiential retail alongside traditional tenants are …
PHILADELPHIA — A joint venture between Tishman Speyer and Bellco Capital has purchased a development site at the 2300 Market Street city block in Philadelphia’s Center City district. The joint venture, which goes by the name Breakthrough Properties, plans to redevelop the site into 200,000 square feet of life sciences space. The site is located adjacent to the University of Pennsylvania and Drexel University and within walking distance to several academic medical centers. The property will sit between the city’s Rittenhouse Square and University City neighborhoods, as well as near the 30th Street Transit Station that is serviced by SEPTA, Amtrak and trolley and commuter rail lines. The development team plans to deliver the laboratory and research and development spaces by 2024. Breakthrough has enlisted KieranTimberlake, a Philadelphia-based architectural firm, as the project architect and Cushman & Wakefield as the exclusive leasing agent. All Breakthrough properties are designed to achieve LEED Gold certification, according to the developer’s website. Philadelphia has emerged as one of the leading life sciences clusters in the country. Greater Philadelphia ranks No. 1 nationally for the National Institutes of Health (NIH) Grant Funding for cell and gene therapy and has attracted over $3.8 billion in venture …
ISLIP, N.Y. — A public-private partnership between The Town of Islip, Suffolk County and JLL has unveiled plans for Midway Crossing, a $2.8 billion mixed-use project that will be located on Long Island. The Long Island Regional Planning Council approved the project, which will be the largest commercial or residential development on Long Island in the last 50 years, on the evening of Thursday, May 12. Midway Crossing will span approximately 2.7 million square feet across 179 acres. Plans currently call for a variety of uses, including life sciences, healthcare and hospitality, as well as a convention center and traditional retail, restaurant and entertainment space. The development team expects these uses to collectively generate more than $4.5 billion in annual economic impact upon completion. The location is near Long Island MacArthur Airport, as well as the Ronkonkoma Station of the Long Island Rail Road (LIRR), establishing Midway Crossing as a multimodal transit hub. Under the current development plan, the airport and train station would be connected via an 1,800-foot corridor. The development team also plans to make various infrastructural improvements at the airport that could have as much as $1.9 billion in additional economic impact. Beyond the economic benefits, the …
FORT WORTH, TEXAS — Two Texas-based firms, SilverPoint Senior Living and Journey Capital, have unveiled plans for the development of Edition Senior Living of Fort Worth. Initial plans call for 101 assisted living and memory care units set in a 100,000-square-foot community on nine acres. There are also long-term plans to expand and add independent living facilities. This community will be the fifth collaboration between SilverPoint and Journey Capital. Construction is scheduled to begin toward the end of this year.