Development

St. John Properties to Develop 225,000 SF Mixed-Use Project in Metro Austin

by Taylor Williams April 13, 2023

GEORGETOWN AND ROUND ROCK, TEXAS — Baltimore-based St. John Properties will develop Westinghouse Crossing, a 225,000-square-foot mixed-use project that will be located on the northern outskirts of Austin. The site near the intersection of Westinghouse Road and North Mays Street lies at the southern border of Georgetown and the northern border of Round Rock. Westinghouse Crossing will feature 170,000 square feet of research-and-development facilities, 40,000 square feet of office space and 15,000 square feet of retail space. Construction is scheduled to begin this fall and to be complete in summer 2024. Joe Simmons and Leigh Ellis of Aquila Commercial represented the seller, Arizona-based Buorn Cos., in the disposition of the land.

April 13, 2023

Civic Development Texas

Hoar Construction Breaks Ground on 50,000 SF Expansion at UT Tyler School of Nursing

by Taylor Williams April 13, 2023

TYLER, TEXAS — General contractor Hoar Construction has broken ground on a 50,000-square-foot expansion project at the Braithwaite College of Nursing & Health Sciences at The University of Texas at Tyler. Designed by Fitzpatrick Architects, the project will essentially double the size of the existing building by adding new classrooms, office spaces, student meeting areas and labs. Completion is slated for summer 2024.

April 13, 2023

Development Massachusetts Multifamily Northeast Seniors Housing

2Life Communities Breaks Ground on 174-Unit Seniors Housing Project in Metro Boston

by Taylor Williams April 13, 2023

NEWTON, MASS. — Locally based owner-operator 2Life Communities has broken ground on Opus Newton, a seniors housing project that will be located on the western outskirts of Boston. The site is situated adjacent to 2Life’s Coleman House on the Jewish Community Center Greater Boston campus. Construction is slated for a summer 2025 completion. According to the developer, 95 percent of the residences are already preleased.

April 13, 2023

Arizona Development Mixed-Use Top Stories Western

RED Development, Globe Corp. Plan 150-Acre GSQ Mixed-Use Project in Goodyear, Arizona

by Katie Sloan April 13, 2023

GOODYEAR, ARIZ. — A joint venture between RED Development and Globe Corp. has released plans for GSQ, a 150-acre mixed-use development located in Goodyear, approximately 15 miles west of Phoenix. Groundbreaking on the project is proposed for next year. Plans include retail and entertainment space, restaurants, multifamily communities, office space and a hotel. GSQ will complement the Goodyear Civic Square at GSQ development, which Globe Corp. completed in August 2022. Goodyear Civic Square features a new city hall building, two-story library, two-acre community park, office space and retail space. “Our dream of a downtown is one step closer to becoming reality,” says Goodyear Mayor Joe Pizzillo. “We have all the right partners working together to create a very special walkable district for our residents — and the greater Southwest Valley region — to enjoy as they bring quality shopping, dining and entertainment to this area.” A number of new developments have been announced in Goodyear this year, including build-to-rent projects by UrbanStreet Group and a joint venture between Blue Vista Capital Management and Family Development; and several industrial projects, including a warehouse for Sub-Zero Group and the $360 million first phase of AirPark, located adjacent to the Phoenix-Goodyear airport. Phoenix-based RED …

April 13, 2023

Bohler Content Partner Development Features Midwest Multifamily Northeast Retail Southeast Texas Western

Savvy Developers Stay Active Even When the Easy Sites Are Gone

by Sarah Daniels April 13, 2023

As vacant sites become rare and cost-prohibitive, commercial real estate developers need to be creative when it comes to bringing a new project out of the ground. Unconventional development sites offer cost savings and location advantages, and in-depth due diligence and creativity on the part of developers can make for sites that can allow an elegant union of lower costs and strategy. With limited room for delay, how can developers think critically about available sites and leverage existing conditions to their advantage? Katherine Roberts, senior project manager at Bohler’s Warrenton, VA office, and Gregory Roth, principal at Bohler’s Tampa office, offer their expert advice on threading this needle. Bohler specializes in land development, especially making development work when conventional sites aren’t an option. Prioritizing Development Needs When Assessing Red Flags Certain project factors can be red flags if time or cost are obstacles to a developer, including These points of concern are usually knots that can be untangled if a developer has the time, money and appetite to move forward in spite of these interruptions, but each factor does bear watching. “Developers should understand where their limits are and where they’re willing to negotiate. Ideally, anything you’re developing should be …

April 13, 2023

Development Multifamily Texas

Stillwater Capital to Develop Multifamily Community at $1B Link Mixed-Use Project in Metro Dallas

by Taylor Williams April 12, 2023

FRISCO, TEXAS — Locally based developer Stillwater Capital will develop a 352-unit multifamily project at The Link, a 240-acre mixed-use development in Frisco. The Link, which has a total price tag of about $1 billion, connects to the PGA of America’s new, 600-acre headquarters campus via a pedestrian promenade and a network of public green spaces. The new multifamily community will offer townhome- and cottage-style residences and amenities such as a pool, fitness center, golf simulator, putting green and a courtyard with a fire pit. Construction is slated to begin this spring and to be complete in summer 2025.

April 12, 2023

Development Industrial Texas

Pontikes, McNair Interests Break Ground on Two Industrial Facilities Totaling 630,128 SF in Baytown, Texas

by Taylor Williams April 12, 2023

BAYTOWN, TEXAS — A partnership between two locally based firms, Pontikes Development and McNair Interests, has broken ground on a pair of rail-served industrial facilities totaling 630,128 square feet in the eastern Houston suburb of Baytown. Building 3 at Port 10 Logistics Center will span 450,873 square feet and is expected to be complete in the third quarter. Building 5 will total 179,255 square feet and is scheduled for a fourth-quarter delivery. JLL is leasing both projects. A fourth building totaling 452,266 square feet has also been proposed at Port 10 Logistics Park.

April 12, 2023

Affordable Housing Development Multifamily Texas

DiversyFund Completes Renovation of 174-Unit Multifamily Property in San Antonio

by Taylor Williams April 12, 2023

SAN ANTONIO — DiversyFund, a fintech and investment platform focused on multifamily assets, has completed the renovation of Mission Villas, a 174-unit multifamily property in San Antonio. According to Apartments.com, the complex was built in 1965 and offers studio and one-bedroom units, as well as amenities such as a pool, playground and outdoor grilling and dining areas. Renovations included upgrades to the kitchens and bathrooms of all units and improvements to building exteriors.

April 12, 2023

Civic Development New Hampshire Northeast

City of Nashua Opens 53,340 SF Arts Center in New Hampshire

by Taylor Williams April 12, 2023

NASHUA, N.H. — The City of Nashua, located in southern New Hampshire, has opened a 53,340-square-foot performing arts center, art gallery and event center in its downtown area. Boston-based ICON Architecture designed the project, which involved the demolition of an existing building on the site and the maintenance of a second structure to house the new center. The four-story venue now features a 753-seat theater, a section of which has a retractable seating system that can create a general admissions or private banquet area, as well as a communal gallery and an outdoor terrace.

April 12, 2023

Development Multifamily New Jersey Northeast

Prime City Breaks Ground on 31-Unit Multifamily Project in Long Branch, New Jersey

by Taylor Williams April 12, 2023

LONG BRANCH, N.J. — Locally based developer and general contractor Prime City has broken ground on SICA Lofts, a 31-unit multifamily project that will be located in the coastal New Jersey community of Long Branch. The site originally housed the home of the Lincoln Can Manufacturing Co. and later the Shore Institute of Contemporary Arts, from which the property derives its titular acronym. The project will feature one-bedroom units with an average size of 750 square feet and 2,500 square feet of ground-floor retail space. Manasquan Bank provided a $7.5 million, floating-rate construction loan for the project, which is scheduled for a third-quarter 2024 completion.

April 12, 2023

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