Development

RangeWater to Build 280-Unit Maggie Apartment Community in Jacksonville

by John Nelson February 24, 2023

JACKSONVILLE, FLA. — RangeWater Real Estate has purchased a 28.6-acre site in the San Jose neighborhood of Jacksonville for the development of a 280-unit multifamily community. Located at 3730 Dupont Ave., the property, dubbed The Maggie, will feature residences in one- and two-bedroom layouts, as well as a clubhouse with meeting space, resident’s lounge, fitness center, deck and grilling area, dog park and fountains. Delivery of the first units and clubhouse is scheduled for late spring 2024. ParkProperty Capital is partnering with RangeWater on the project, which will mark RangeWater’s sixth development in the Jacksonville area.

February 24, 2023

Development Georgia Retail Southeast

Selig to Reimagine, Rebrand 9.4-Acre Lenox Marketplace Retail Center in Atlanta

by John Nelson February 24, 2023

ATLANTA — Selig Enterprises has unveiled plans for the renovation and rebranding of Lenox Marketplace in Atlanta, now known as The Block at Phipps. Located in the Buckhead neighborhood at the confluence of Peachtree Road, Wieuca Road, Oak Valley Road and Prichard Way, the property comprises 9.4 acres. Renovations are scheduled to begin in the second quarter of this year. Capital improvements will include the addition of a 30-foot, open-air corridor to connect the sidewalk along Peachtree Road and the parking deck. Selig, which acquired the property with an investment partner in 2020, also plans to transform the space along Peachtree and Oak Valley roads with new façades, landscaping, programming and enhanced walkways. ASD|SKY is providing architecture and environmental design services for the project.

February 24, 2023

Build-to-Rent Development Single-Family Rental Texas

Stillwater Capital Breaks Ground on 215-Unit Build-to-Rent Residential Project in Frisco

by Taylor Williams February 24, 2023

FRISCO, TEXAS — Locally based developer Stillwater Capital has broken ground on a 215-unit build-to-rent residential project in Frisco. The site is located within The Link, a 240-acre mixed-use development that is adjacent to the PGA of America’s headquarters campus. Information on floor plans was not disclosed. Amenities will include a pool, fitness center, resident lounge and a neighborhood park and walking trails. Stillwater Capital has partnered with Robert Elliott Custom Homes on the project, which is slated for full completion in late 2024.

February 24, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

ACRE, ARK Underway on 150-Unit Single-Family Rental Community in Myrtle Beach

by John Nelson February 24, 2023

MYRTLE BEACH, S.C. — ACRE and partner ARK Residential have announced plans for The Springs at Arcadia, a 150-unit single-family-rental (SFR) community in Myrtle Beach. Located within the master-planned Arcadia community, the development will offer three- and four-bedroom detached homes ranging in size from 1,500 to 2,300 square feet. Residents will have access to Arcadia’s amenities, which include a clubhouse, pickleball courts and a pool. Construction, which is currently underway, is scheduled for completion in the first quarter of 2024. Preleasing began in January of this year, and Elmington Property Management will manage the community. John Alascio, Chuck Kohaut, T.J. Sullivan and John Spreitzer of Cushman & Wakefield arranged $37 million in financing through Arbor Realty Trust Inc. for the project.

February 24, 2023

Development Midwest Missouri Multifamily Seniors Housing

Spellman Brady & Co. Completes Interior Design for Memory Care Addition in Shrewsbury, Missouri

by Kristin Harlow February 24, 2023

SHREWSBURY, MO. — Spellman Brady & Co. (SBC) has completed the interior design for the addition to Our Mother of Perpetual Help Memory Care at the Cardinal Ritter Senior Service’s campus in Shrewsbury, a western suburb of St. Louis. SBC selected the project’s interior finishes as well as the furnishings and artwork. The single-story memory care addition features two memory care households consisting of 13 private units each. Bright door colors were used in the hallways to help residents locate their units. SBC collaborated with Vessel Architecture, which developed the building addition, and BSI Constructors, the general contractor.

February 24, 2023

Colorado Development Multifamily Western

Continental Properties Opens 240-Unit Springs at Northgate Multifamily Community in Colorado Springs

by Amy Works February 24, 2023

COLORADO SPRINGS, COLO. — Continental Properties has opened Springs at Northgate, an apartment property located at 93 Clear Pass View within the 200-acre master-planned Polaris Pointe development in Colorado Springs. Springs at Northgate features 240 townhome-style studios, one-, two- and three-bedroom apartments with modern floor plans, high-end finishes, gourmet kitchens, abundant natural light, in-unit washers/dryers and private patios or balconies. Onsite amenities include a swimming pool, community clubhouse, outdoor grill area, 24-hour fitness center, car care area and leash-free dog park.

February 24, 2023

Development Mixed-Use Texas

PlaceMKR to Undertake 2 MSF Mixed-Use Redevelopment Project in Austin

by Taylor Williams February 23, 2023

AUSTIN, TEXAS — Locally based developer PlaceMKR will undertake a 2 million-square-foot mixed-use redevelopment project at a 22.5-acre site at the intersection of East Riverside Drive and State Highway 71 in Austin. The site currently houses a storage facility and a former mobile home park. Designed by Steinberg Hart on land owned by Artesia Real Estate, East Riverside Gateway will be a seven-building development that will feature residential, office, retail and restaurant uses, as well as some 4,000 onsite parking spaces. More specifically, four of the buildings totaling approximately 1,100 units will be devoted to multifamily usage, with street-level retail connecting all the structures. Construction will occur in phases, with the initial phase expected to begin within 12 months pending the developer’s securing of an equity partner. The development team is also in the processing of obtaining entitlements and permits.

February 23, 2023

Development Office Texas

Skanska Tops Out 28-Story Office Building in Downtown Houston

by Taylor Williams February 23, 2023

HOUSTON — International developer Skanska has topped out 1550 on the Green, a 28-story, 375,000-square-foot office building located within the Discovery Green area in downtown Houston. Designed by BIG Bjarke Ingels Group, the building will include 7,000 square feet of ground-floor retail space, and tenants will have access to a fitness center and outdoor terraces with event spaces. CBRE is marketing the office space for lease, while SHOP Cos. is leading the lease-up of the retail component. The development team expects to begin welcoming tenants to the building before the end of the year.

February 23, 2023

Development Illinois Life Sciences Midwest

Trammell Crow, Beacon Capital Partners Break Ground on 302,388 SF Hyde Park Labs in Chicago

by Kristin Harlow February 23, 2023

CHICAGO — Trammell Crow Co. and Beacon Capital Partners have broken ground on Hyde Park Labs in Chicago’s Hyde Park neighborhood. The project will feature 302,388 square feet of lab and office space as well as ground-floor retail and community space. Completion is slated for late 2024. Project costs are estimated at $225 million, according to Crain’s Chicago Business. The University of Chicago has pre-leased one-and-a-half floors of the building totaling 55,000 square feet, a portion of which will house researchers from the Pritzker School of Molecular Engineering. Space will also be used to develop an incubator program to support startup companies focused on the life sciences. Hyde Park Labs will rise 14 stories. The project marks the second phase of development at Harper Court, which currently features a hotel, office building housing many UChicago administrative offices and retail space. Tenants of Hyde Park Labs will have access to nearly 40,000 square feet of amenities, including a fifth-floor terrace dubbed “The Lawn.” The project team includes Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa and Trinal. Dan Lyne and Brandon Green of CBRE are marketing the project for lease.

February 23, 2023

Development Illinois Midwest Multifamily

Lendlease Begins Preleasing at The Reed at Southbank Residential Tower in Chicago’s South Loop

by Kristin Harlow February 23, 2023

CHICAGO — Lendlease has begun pre-leasing at The Reed at Southbank in Chicago’s South Loop. The 41-story residential tower includes both rental units and for-sale homes. The Reed is the second building Lendlease is developing as part of Southbank, a seven-acre master plan community situated along the Chicago River. The Reed features 224 apartment units on floors nine through 22. Floor plans range from 544 to 1,417 square feet and monthly rents start at $2,160. First move-ins are expected in late May. The eighth floor features 15,000 square feet of outdoor amenities, including a pool, cabanas, sunning lawn, fire pits, outdoor kitchens and dining areas. The Reed also features an indoor-outdoor fitness center with dedicated HIIT and yoga spaces, as well as cardio and strength-training equipment. Other eighth-floor amenities include a wet lounge adjacent to the pool deck, lounge room, virtual sports simulation room, massage room and media room. A rooftop garden created in partnership with The Roof Crop will feature fresh flowers, gardens and honey. Bozzuto manages the apartments. At the center of the Southbank master plan is Southbank Park, a two-acre publicly accessible green space that connects the neighborhood’s residents to the Chicago River. Designed by Hoeer Schaudt, …

February 23, 2023

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