Saturday, September 19, 2026
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Development

Affordable HousingDevelopmentFloridaMultifamilySeniors HousingSoutheast

HTG, AM Affordable Housing Break Ground on $23.5M Seniors Housing Community in Crestview, Florida

by John Nelson

CRESTVIEW, FLA. — Housing Trust Group (HTG) and nonprofit AM Affordable Housing have broken ground on Princeton Grove, an affordable housing development in Crestview catered to seniors aged 62 and older. Located at 475 Aplin Road, the community will comprise four stories with a mix of one- and two-bedroom units. Apartments, which will be reserved for residents who earn at or below 22, 30 and 60 percent of area median income (AMI), will range in cost from $363 to $1,188 per month. Five units have been committed for veterans who meet the household income and age criteria. Amenities will include a clubhouse, fitness center, pickleball court, putting green, media room with computer stations, swimming pool and a dog park. Funding sources for the $23.5 million project, which is scheduled for completion next fall, include a $14 million construction loan from Truist Bank, $9.1 million in 4 percent Low Income Housing Tax Credit (LIHTC) equity syndicated through Truist Community Capital and three additional loans from the Florida Housing Finance Corp. Grandbridge Real Estate Capital additionally provided a $7.5 million Freddie Mac loan. Bayern Construction is the general contractor on the project, with PQH Group acting as architect and interior designer and …

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DevelopmentMarylandRestaurantRetailSoutheast

Giant Food, Nalley Fresh Open In-Store Restaurant in Metro Baltimore

by John Nelson

ELLICOTT CITY, MD. — Giant Food has partnered with Maryland-based Nalley Fresh to open a restaurant within the grocer’s Ellicott City store, roughly 13 miles outside Baltimore. Offering customizable salads, wraps and bowls and the ability to fulfill third-party delivery orders, the restaurant marks the 10th location for Nalley Fresh and the first in-store fast-casual restaurant for Giant Food, which currently operates 165 grocery stores.

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CaliforniaDevelopmentRetailWestern

Westar Plans 175,000 SF Esencia Commons Retail Center in Rancho Mission Viejo, California

by Jeff Shaw

RANCHO MISSION VIEJO, CALIF. — Westar Associates has released plans for Esencia Commons, a 175,000-square-foot retail center in Rancho Mission Viejo.  Upon completion, the property will feature a supermarket, fitness center, gas station and other retail and restaurant spaces.  Groundbreaking for the project — which will be located within a 50-acre mixed-use development that includes an apartment community, business park, self-storage facilities and planned medical offices — is scheduled for the fourth quarter of this year. Westar will manage the property and has begun leasing efforts for the center.

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CaliforniaDevelopmentNevadaRestaurantRetailWestern

Simon, José Andrés Plan Three Restaurants in Las Vegas, Palo Alto

by Jeff Shaw

PALO ALTO, CALIF. AND LAS VEGAS — Simon Property Group and José Andrés Group (JAG) have announced plans to collaborate and bring restaurants to three properties located in Las Vegas and Palo Alto.  The partnership will introduce new dining concepts to Stanford Shopping Center in Palo Alto and The Shops at Crystals in Las Vegas. The collaboration will also bring Turkish, Greek and Lebanese restaurant Zaytinya to The Forum Shops at Caesars Palace in Las Vegas.

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DevelopmentGeorgiaMultifamilyNorth CarolinaSoutheast

Carter to Build Two Apartment Communities in Atlanta, Charlotte

by John Nelson

ATLANTA AND CHARLOTTE, N.C. — Carter has plans to develop two apartment communities in Atlanta and Charlotte under its Story brand. Patterson Real Estate Advisory Group arranged construction financing through Truist for Story Mt. Zion on Atlanta’s south side and South State Bank for Story University North on Charlotte’s north side. The projects represent the sixth and seventh Story communities that Carter is developing in the Southeast. Summit Contracting Group is developing both properties, which will feature one-, two- and three-bedroom layouts and comprise 300 to 330 apartments. The construction timelines for the communities were not disclosed.

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DevelopmentFloridaIndustrialSoutheast

Merritt Acquires 16 Acres to Expand Imeson Landing Business Park in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Merritt Properties has acquired 16 acres for the expansion of the company’s Imeson Landing Business Park in Jacksonville. Three additional flex/light buildings comprising 114,500 square feet will be built at the site, with construction scheduled to begin in 2024. Upon completion, the development, which is located at the corner of Imeson Park Boulevard and Zoo Parkway, will total 380,700 square feet across eight buildings. Merritt was self-represented by Bobby Lanigan and Pat Franklin, and Luke Pope of JLL represented the land seller in the transaction. Preleasing is currently underway. Nine tenants have signed leases ranging in size from 3,000 to 29,000 square feet at the development thus far.

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DevelopmentGeorgiaHospitalitySoutheast

Extended Stay America Opens 84-Room Hotel in Metro Atlanta

by John Nelson

MCDONOUGH, GA. — Extended Stay America has opened an Extended Stay Suites hotel in McDonough, roughly 30 miles southeast of Atlanta. Developed by TGC Group, the property totals 84 rooms. Amenities include complimentary WiFi, free breakfast, cable, a fitness room, onsite guest laundry and a lobby. TGC Hospitality Management is the hotel’s property manager.

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CaliforniaDevelopmentOfficeWestern

Silverstein Completes $60M in Renovations to U.S. Bank Tower in Downtown Los Angeles

by Jeff Shaw

LOS ANGELES — Silverstein Properties has completed its $60 million capital improvement program at U.S. Bank Tower in downtown Los Angeles. The two-year renovation was designed to meet the evolving needs of traditional and creative office tenants. Silverstein acquired the tower in September 2020 and began the capital improvements in May 2021.  Informed by hospitality design, upgrades across 35,000 square feet of common spaces include a redesigned main entrance and lobby; new contactless elevators and elevator lobbies; a new day-to-night juice and cocktail bar; a grab-and-go market; and seating and collaboration areas.  By November 2020, five new leases were signed at the tower, including Walter P. Moore, a global management consulting firm, Lincoln International, Rothschild & Co. and Morgan & Morgan.

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CaliforniaDevelopmentMultifamilyWestern

MBK, Haseko Begin Construction of 315-Unit Zia Apartments in Anaheim, California

by Jeff Shaw

ANAHEIM, CALIF. — A joint venture between MBK Rental Living and Haseko Corp. has started construction of the 315-unit Zia multifamily community in Anaheim.  Located at 1600 W. Lincoln Ave., the development will feature luxury interior finishes and sustainable elements, including quartz countertops, stainless-steel appliances, distinctive wood-style plank flooring and large-scale precision windows.  Zia will offer studio to three-bedroom floorplans ranging from 600 to 1,900 square feet. The grand opening is scheduled for mid-2024.

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