Development

Partnership Breaks Ground on Final Phase of Mixed-Income Redevelopment in Boston

by Taylor Williams April 17, 2023

BOSTON — A partnership between the Preservation of Affordable Housing (POAH), the Boston Housing Authority (BHA), the City of Boston and Madison Park Development Corp. has broken ground on the third and final phase of a mixed-income redevelopment project in the city’s Lower Roxbury neighborhood. Known as Flat 9 at Whittier, the final phase will deliver 172 affordable housing units and 9,000 square feet of commercial space in a 13-story building to the site of the former Whittier Street Apartments. Phases I and II of the redevelopment, which will ultimately house 300 residences that will be subject to a range of income restrictions, were completed in 2020 and 2021, respectively.

April 17, 2023

Civic Development Massachusetts Northeast

Inquilinos Boricuas Receives Approval for $25M Community Center Project in Boston

by Taylor Williams April 17, 2023

BOSTON — Inquilinos Boricuas en Accion, an affordable housing owner-operator, has received approval from the Boston Planning & Development Agency, as well as the Zoning Board of Appeal, for the construction of a $25 million community center. Known as the Center for the Arts, Self-Determination and Activism (CASA), the facility will span 26,425 square feet and house a performance hall, classrooms, private offices, a gym and other common spaces. Studio ENÉE and Annum are the project architects. Construction is scheduled to begin this fall and to be complete in late 2024.

April 17, 2023

Development Hospitality Loans New York Northeast Retail

CBSK Development to Redevelop Historic Property in Queens

by Taylor Williams April 17, 2023

NEW YORK CITY — CBSK Development will redevelop the Jacob Riis Bathhouse, a historic building in the Rockaway Beach area of Queens that was originally constructed in 1932. The redevelopment will convert the 40,000-square-foot bathhouse into a 28-room boutique hotel with 1,247 square feet of retail and restaurant space and an outdoor concert venue that can accommodate up to 2,000 people. Procida Funding provided a $32.5 million construction loan for the project. A construction timeline was not disclosed.

April 17, 2023

Development Industrial Texas

Target to Open 1.4 MSF Distribution Center at Houston’s Generation Park

by Taylor Williams April 14, 2023

HOUSTON — Target (NYSE: T) will open a 1.4 million-square-foot distribution center at Generation Park, a 4,000-acre mixed-use development in northeast Houston. California-based Panattoni Development purchased 145 acres for the Minneapolis-based retailer’s facility from the owner of Generation Park, McCord Development, in 2022. Construction is underway and scheduled for completion next year.

April 14, 2023

Development Industrial Texas

Ledo Capital, St. Clair Commercial to Develop 663,460 SF Industrial Project in San Marcos, Texas

by Taylor Williams April 14, 2023

SAN MARCOS, TEXAS — A partnership between two California-based developers, Ledo Capital Group and St. Clair Commercial Real Estate, will develop a 663,460-square-foot industrial project in the Central Texas city of San Marcos. San Marcos Business Park will consist of three buildings ranging in size from 84,000 to 375,000 square feet that will be situated on a 45.7-acre site within the Whisper South master-planned development. All buildings will have rear-load configurations, 32- to 36-foot clear heights and ESFR sprinkler systems. The site also includes additional space for outdoor storage or trailer parking. Dallas-based ARCO/Murray is handling design and construction of the project, with Kimley-Horn serving as the civil engineer. Stream Realty Partners will market the property for lease. Construction is set to begin in the fourth quarter.

April 14, 2023

Development Industrial Texas

Freehill Development to Build 227,200 SF Industrial Project in Leander, Texas

by Taylor Williams April 14, 2023

LEANDER, TEXAS — Locally based firm Freehill Development Co. will build Hero Way West, a 227,200-square-foot industrial project that will be located on a 16.8-acre site in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings with 28-foot clear heights. Charlie Strauss, Tom Weber, Trent Agnew and Josh Villarreal of JLL arranged joint venture equity with an undisclosed partner for the capitalization of the project. Michael Johnson and Chris McColpin, also with JLL, arranged floating-rate construction financing. Construction is set to begin this summer and to last about 12 months.

April 14, 2023

Development Florida Southeast Student Housing

AARE Sunbelt, JW Capital Top Out 22-Story Terrazul Student Housing Development Near Florida International University

by John Nelson April 14, 2023

SWEETWATER, FLA. — AARE Sunbelt, an affiliate of Adam America Real Estate, and JW Capital Management have topped out Terrazul, a 22-story student housing development near Florida International University in Sweetwater. Upon completion, which is scheduled for the second quarter of 2024, the development will comprise 932 units and a total of 1,201 beds. Located along 107th Avenue, the property will also feature 647 parking spaces and 15,442 square feet of retail space. Amenities at Terrazul will include an indoor/outdoor study lounge, library and lounge areas, a gym and outdoor swimming pool. Units will feature private studio, one-, two- and four-bedroom layouts. Coastal Construction Group is the general contractor for the project, and Niles Bolton Associates is the architect.

April 14, 2023

Development Florida Multifamily Southeast

Madison Communities Breaks Ground on 317-Unit Apartment Development in Ruskin, Florida

by John Nelson April 14, 2023

RUSKIN, FLA. — Madison Communities, a multifamily subsidiary of Madison Capital Group, has begun construction on Madison Palms, a 317-unit apartment community in Ruskin. Located at 210 Teco Road, the property will comprise 300,000 square feet of rentable space in the form of one-, two- and three-bedroom units. Apartments will range in size from 719 to 1,403 square feet. Amenities will include a clubhouse with a fitness center, outdoor lounge, swimming pool and deck with grilling stations, recreation areas and cabanas. A construction timeline for the project was not disclosed.

April 14, 2023

Development Kentucky Multifamily Southeast

Lendlease Completes Renovations of 170 Military Housing Units at Fort Campbell in Kentucky

by John Nelson April 14, 2023

FORT CAMPBELL, KY. — Lendlease has completed interior and exterior renovations of 170 units for Junior Enlisted families within the New Hammond Heights neighborhood at the privatized military housing community of Campbell Crossing at Fort Campbell. Beginning in April 2021, the renovations included the replacement of each home’s exterior, living room and kitchen upgrades, master bathroom remodels and the replacement of interior finishes and appliances. All windows and appliances have been upgraded to Energy Star-rated products, and other sustainability benefits have been implemented for the reduction of energy and water consumption. Renovations are part of the company’s $300 million, five-year plan for the community, which also includes new construction and removal of outdated units. Other projects underway at Campbell Crossing include the demolition and construction of 680 new homes for Junior Enlisted families.

April 14, 2023

Affordable Housing Development Massachusetts Multifamily Northeast

Chestnut Hill Realty to Develop 250-Unit Mixed-Income Residential Community in Boston

by Taylor Williams April 14, 2023

BOSTON — Locally based developer Chestnut Hill Realty Corp. will build Puddingstone at Chestnut Hill, a 250-unit mixed-income residential community at 201 Sherman Road in Boston’s Brookline area. The unit mix will consist of 90 one-bedrooms, 135 two-bedrooms and 25 three-bedrooms, with 50 residences designated as affordable housing for renters earning up to 30 or 50 percent of the area median income. Chestnut Hill will also construct a total of 377 parking spaces through a two-story deck and surface lots. MassDevelopment provided $126 million in both taxable and tax-exempt bonds for the project. A tentative completion date was not disclosed.

April 14, 2023

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