Development

Home Communities Delivers 180-Unit Seniors Housing Property in Memphis

by John Nelson March 30, 2023

MEMPHIS, TENN. — Home Communities Co. has delivered Brightmore of East Memphis, a 180-unit seniors housing development in Memphis. The property comprises 122 independent living apartments and 34 assisted living units in the main building, 24 memory care units in an adjoining single-story building, multiple outdoor spaces and dining options. The design-build team includes architect and landscape architect Baker Barrios and general contractor Montgomery Martin Contractors. Liberty Senior Living is the operator of Brightmore of East Memphis.

March 30, 2023

Affordable Housing Development Loans Louisiana Multifamily Southeast

Hunt Capital Partners Invests $6.2M in LIHTC Equity for Affordable Housing Redevelopment in Baton Rouge

by John Nelson March 30, 2023

BATON ROUGE, LA. — Hunt Capital Partners has provided $6.2 million in LIHTC equity for Government Corridor, a 103-year-old affordable housing redevelopment in Baton Rouge. The project will renovate 34 detached single-family and duplex homes that are reserved for families earning up to 30, 50 and 60 percent of the area median income (AMI). Additionally, 30 percent of all homes at Government Corridor will be set aside for special needs households. Originally built in 1920, the campus comprises three clusters that are situated within short distance of the recently overhauled Government Street. Only 15 percent of Government Corridor is occupied, and residents of the occupied units will be relocated until the first phase of the project is complete. The development team for Government Corridor includes general contractor Ethridge Construction; architect Erick Parnell, owner of ArchBoutant; and property manager GHCP Management LLC, an affiliate of nonprofit partner Gulf Coast Housing Partnership (GHCP). Rehabilitation work is underway and scheduled for completion in February 2024. Other capital partners include United Bank, the State of Louisiana Division of Administration Office of Community Development and GCHP.

March 30, 2023

Development Leasing Activity Midwest Minnesota Retail

Dick’s Sporting Goods to Open at Rosedale Center in Roseville, Minnesota

by Kristin Harlow March 30, 2023

ROSEVILLE, MINN. — Dick’s Sporting Goods has signed a lease to open a new store at Rosedale Center, a 1.1 million-square-foot shopping center in Roseville, a suburb of the Twin Cities. The retailer will occupy a new building at the parcel formerly home to Herberger’s. Construction of the new store has begun, with completion slated for late 2024. JLL’s retail development partner, Poag Development Group, is overseeing construction management. Holly Rome of JLL leads the leasing efforts for Rosedale Center and secured the lease with Dick’s. Recent tenant additions at Rosedale Center include Aspen Dental, PNC Bank, Caribou Coffee, Raising Cane’s, Shake Shack and Panera Bread.

March 30, 2023

Development Industrial New York Northeast Self-Storage

Manhattan Mini Storage Underway on 1,200-Unit Redevelopment Project on Upper East Side

by Taylor Williams March 30, 2023

NEW YORK CITY — Manhattan Mini Storage is underway on a self-storage redevelopment project on the Upper West Side that will add 1,200 units to the local supply. The company, which is owned by Missouri-based developer and operator StorageMart, plans to redevelop the site of the former CMX Cinema into a six-story self-storage building that offers 65,000 net rentable square feet of space. The project, which is slated for a 2024 completion, will also function as an addition to Manhattan Mini Storage’s existing facility at 420 E. 62nd St.

March 30, 2023

California Development Multifamily Student Housing Top Stories Western

University of California Approves Plans for $1.1B Student Center, 2,400-Bed Residence Hall at UC San Diego

by Katie Sloan March 30, 2023

SAN DIEGO — The University of California Board of Regents has approved plans to develop a new student center and 2,400-bed residence hall on the University of California San Diego campus. The two projects will cost $1.1 billion, according to reports by The San Diego Union Tribune. Construction on both developments is set to begin this summer. The four-building student center, named Triton Center, is set for completion in 2026. One of the buildings will be home to the university’s student health, mental health and well-being services. This property will include an urgent care space; primary care, pharmacy and wellness services; and a new home for the university’s Counseling and Psychological Services department. Triton Center will also include an alumni and welcome center; a multi-purpose building with a 500-person event space; an art gallery; and a student academic resources building. The residence hall, Ridge Walk North Living and Learning Neighborhood, is scheduled to open in time for fall semester 2025 and will serve undergraduate students. The building will also include updated administrative and teaching space for the university’s Thurgood Marshall College, School of Global Policy and Strategy, and the Department of Economics in the School of Social Sciences. Ridge Walk will …

March 30, 2023

Development Georgia Hospitality Southeast

GWCCA, Skanska Top Out 976-Room Signia by Hilton Hotel in Downtown Atlanta

by John Nelson March 29, 2023

ATLANTA — Convention, sports and entertainment campus operator Georgia World Congress Center Authority (GWCCA) and Swedish development and construction company Skanska have topped off Signia by Hilton Atlanta, a 976-room, 1.3 million-square-foot hotel project in the city’s downtown area. Scheduled to open in January 2024, the 453-foot hotel will be owned by GWCCA and managed by Hilton Management Services. Upon completion, the property will connect to the Georgia World Congress Center and include three restaurants, three bars, a spa, beauty bar and a fitness center. Signia by Hilton Atlanta will also feature more than 100,000 square feet of meeting space, including a ballroom, outdoor event deck, outdoor event lawn and three boardrooms. Boston-based Drew Co. is the developer of the project, with Skanska and SG Contracting serving as general contractor. Gensler is providing architectural services. In addition to its proximity to Georgia World Congress Center, the hotel will be situated adjacent to CIM Group’s $5 billion Centennial Yards project, State Farm Arena and Mercedes-Benz Stadium.

March 29, 2023

Acquisitions Development Florida Retail Southeast

Benderson Acquires Two Retail Properties, Opens Publix in Sarasota, Florida

by John Nelson March 29, 2023

SARASOTA, FLA. — University Park, Fla.-based Benderson Development has acquired two properties in Sarasota. Located at 4001 South Tamiami Trail, the first property is a former Café Baci restaurant. The second property, which comprises 16,500 square feet, is located at the corner of Bee Ridge and Beneva roads and is leased to Walgreens. Additionally, Benderson opened a newly rebuilt Publix grocery store at retail center The Landings, which the company purchased in 2012 and has since renovated. 3Natives, Pacific Counter and Crumbl Cookies are also scheduled to join the tenant roster. Other tenants at the retail center include Florence and the Spice Boys, The Breakfast Company, Origin Craft Beer & Pizza Café, Apollonia Grill, Starbucks Coffee, Mantra Fitness, StretchLab, EoS Fitness, Daruma, DogPerfect and Tripletail Seafood & Spirits.

March 29, 2023

Autograph-Collection-Hotel-Hall-Park-Frisco

Development Hospitality Texas

HALL Group Underway on 224-Room Marriott Hotel at Flagship Office Park in Frisco

by Taylor Williams March 29, 2023

FRISCO, TEXAS — HALL Group is underway on construction of a 224-room hotel at HALL Park, the locally based firm’s flagship campus in Frisco that is currently in the midst of a $7 billion redevelopment. The hotel, which will be operated under Marriott’s Autograph Collection family of brands, will feature an outdoor pool, fitness center, restaurant and lounge, 4,000-square-foot ballroom and a patio overlooking Kaleidoscope Park. Construction is expected to be substantially complete by the end of the year.

March 29, 2023

Development Multifamily New Jersey Northeast

JMF Properties Opens 125-Unit Apartment Complex in Morris Plains, New Jersey

by Taylor Williams March 29, 2023

MORRIS PLAINS, N.J. — Locally based developer JMF Properties has opened The American, a 125-unit apartment complex in the Northern New Jersey community of Morris Plains. Residences come in one- and two-bedroom floor plans with a maximum size of 1,300 square feet. Amenities include a fitness center, coffee bar, conference rooms, a theater, golf simulator, billiards room and outdoor grilling and dining stations. Rents start at $2,775 per month for a one-bedroom unit.

March 29, 2023

Development Illinois Industrial Midwest

PCCP, Stotan Industrial to Develop 100,400 SF Spec Building in Mount Prospect, Illinois

by Kristin Harlow March 29, 2023

MOUNT PROSPECT, ILL. — A joint venture between PCCP and Stotan Industrial is developing a 100,400-square-foot speculative building in the Chicago suburb of Mount Prospect. The property at 350 N. Wolf Road will feature a clear height of 32 feet, up to 20 exterior docks, two drive-in doors, 20 truck trailer parking spaces, 96 car parking spaces, a 125-foot-deep truck court and office space. The project site was previously home to a vacant single-story office building that was built in 1960 and served as one of Comcast’s local Chicago offices. Demolition of that building was completed in late 2022. Site grading is scheduled to begin in April with completion slated for late this year. Signature Bank provided construction financing, and Principle Construction is the general contractor.

March 29, 2023

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