Development

EMBREY Breaks Ground on 344-Unit Multifamily Project in East Austin

by Taylor Williams June 25, 2025

AUSTIN, TEXAS — San Antonio-based multifamily owner-operator EMBREY has broken ground on Flats at The Hatchery (formerly known as The Hatchery), a 344-unit lakefront apartment community located just east of downtown Austin. Designed by San Antonio-based Lake | Flato Architects and Dallas-based GFF, the property will be situated on a 3.1-acre site and will offer studio, one- and two-bedroom units. Amenities will include a rooftop pool and clubhouse, fitness center, a residential lounge with coworking space, game room, grab-and-go market, central courtyard and outdoor kitchens and gaming lawns. Frost Bank is financing construction of the project, the first units of which are expected to be available by the third quarter of 2027. Full completion is slated for mid-2028.

June 25, 2025

Development Leasing Activity Louisiana Retail Southeast

Feil Organization to Deliver First Trader Joe’s Grocery Store in New Orleans

by John Nelson June 25, 2025

NEW ORLEANS — The Feil Organization plans to deliver a new Trader Joe’s grocery store at 2501 Tulane Ave. in New Orleans. The new 13,368-square-foot store will be the first location in New Orleans for the Monrovia, Calif.-based specialty grocer. Feil began assembling sites along Tulane Avenue in 2016 and executed the lease with Trader Joe’s in 2023. Colette Wharton and Katina Spera represented Feil internally in the lease negotiations, and Rich Lobkowicz of District Real Estate Advisors and Chris Ross of NAI Latter & Blum (now NAI Rampart) represented Trader Joe’s. The design-build team includes Sherman Strategies, SCNZ Architects and Landis Construction. Metairie Bank provided an undisclosed amount of construction financing for the project. The new Trader Joe’s is set to this summer, according to NOLA.com.

June 25, 2025

Development Multifamily New Jersey Northeast

Malas Development to Build 248-Unit Apartment Complex in Teaneck, New Jersey

by Taylor Williams June 25, 2025

TEANECK, N.J. — Locally based firm Malas Development will build a 248-unit apartment complex in the Northern New Jersey community of Teaneck. The project represents Phase II of The Marq, the first phase of which comprised 256 units that are now 80 percent occupied. Designed by CPA Architecture, the second phase will offer studio, one-, two- and three-bedroom apartments and amenities such as a sauna and massage rooms, coworking areas, a sport simulator, landscaped courtyard with a pool and a rooftop terrace. Completion is slated for the fourth quarter of 2026.

June 25, 2025

Civic Development Massachusetts Northeast

Gilbane Completes 110,000 SF Academic Project in Groton, Massachusetts

by Taylor Williams June 25, 2025

GROTON, MASS. — Gilbane Building Co. has completed the Florence Roche Elementary School in Groton, located northwest of Boston. The 110,000-square-foot academic facility serves 645 students in grades kindergarten through fourth and features a dedicated project area that offers opportunities for breakout spaces and a zone for non-classroom-based activities. In addition, the school features a media center, STEM lab with an outdoor patio, spaces for music and art and a theater area, as well as advanced security and energy-efficient utility systems.

June 25, 2025

Arizona Development Multifamily Western

TerraLane Buys Land, Breaks Ground on 218-Unit Build-to-Rent Project Near Phoenix

by Amy Works June 25, 2025

QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor Hancock Builders in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Western Alliance Bank and 400 Capital Management are providing financing for the project. Construction has commenced, and leasing is anticipated to begin in 2027. The BTR community will include 218 units. Twenty-four of the units will be single-story, two-bedroom duplexes; 97 will be three-bedroom townhomes; and the remaining 97 will be four-bedroom townhomes. Each home will feature a two-car, direct-access garage, stainless steel appliances and integrated smart home technology, such as keyless entry, remote thermostat controls and fiberoptic cabling to support future connectivity needs. Community amenities will include a gated entrance, pool and hot tub, fitness center, grass park, shaded playground, grilling stations, valet trash service and on-site maintenance. Wi-Fi will be available throughout common areas, and all homes will be pet-friendly with built-in dog …

June 25, 2025

Colorado Development Industrial Western

Ryan Cos., PGIM Real Estate Complete 343,000 SF Northwest Commerce Center in Broomfield, Colorado

by Amy Works June 25, 2025

BROOMFIELD, COLO. — Ryan Cos. and PGIM Real Estate, the $206 billion real estate investment and financing arm of Prudential Financial, on behalf of of its U.S. core-plus investment strategy, have completed Northwest Commerce Center in Broomfield. Situated within Verve Innovation Park and adjacent to Rocky Mountain Metropolitan Airport, the Class A industrial project offers more than 343,000 square feet spread across two buildings. Each building features a clear height of 32 feet, LED lighting, an ESFR sprinkler system and heavy power with 4000-amp electrical service. The project also includes 68 dock doors and 22 trailer parking stalls. Ryan Cos. built and developed the property. Carmon Hicks, Patrick McGettigan and Jason White of JLL have been retained to market and lease the project.

June 25, 2025

Development Montana Multifamily Western

Clarion, Wentworth to Develop 162-Unit Multifamily Community in Bozeman, Montana

by Amy Works June 25, 2025

BOZEMAN, MONT. — Clarion Partners and Wentworth Property Co. will develop Highmark, a townhome and apartment community in Bozeman. Situated on 8 acres in a Qualified Opportunity Zone (QOZ) in the South University District master-planned neighborhood, Highmark will feature 162 units. Completion is slated for late 2025, with leasing scheduled to begin in April. Highmark will offer a variety of units ranging from single-bedroom apartments to three-story townhomes with 10-foot ceilings, modern kitchens with quartz countertops and stainless steel appliances, wood-vinyl flooring, ample storage, full-size washers/dryers and individual yards and balconies for the townhomes. Community amenities will include a clubroom, fitness center, package locker room, outdoor gathering area, hot tub, dog park, pet spa and more than 300 parking spaces.

June 25, 2025

Development Illinois Midwest Office Retail

Inspired by Somerset Development Breaks Ground on Phase II of Bell Works Chicagoland

by Kristin Harlow June 25, 2025

HOFFMAN ESTATES, ILL. — Inspired by Somerset Development has broken ground on the West Side of Bell Works Chicagoland, marking the second phase of transformation of the former AT&T campus in Hoffman Estates into a “metroburb” with office, retail, dining and hospitality space. As the East Side of the project nears 95 percent occupancy, the West Side will bring more than 500,000 square feet of new space. The redeveloped West Side will include 430,000 square feet of traditional office space with approximately 35,000 square feet dedicated to fully furnished “Ready-to-Wear” suites for flexible short- and long-term leases, as well as 70,000 square feet of retail space. Completion is slated for the third quarter of 2026. Wight & Co. is the architect and npz studio+ is designing interiors. At the core of the West Side is its atrium, serving as a “Main Street” lined with storefronts, eateries and community gathering space. A skylight runs the length of the corridor, providing natural light. In tandem with the groundbreaking is the opening of Bell Market, a new culinary destination offering a selection of food-and-beverage options alongside a hub for weekly entertainment and private gatherings. The concept first debuted at Bell Works New Jersey.

June 25, 2025

Development Midwest Missouri Multifamily

Mia Rose Holdings Underway on Development of 190-Unit Luxury Apartment Complex in Metro St. Louis

by Kristin Harlow June 25, 2025

DARDENNE PRAIRIE, MO. — Mia Rose Holdings is underway on the development of Prairie Encore, a 190-unit luxury apartment complex in the St. Louis suburb of Dardenne Prairie. General contractor MBG is building the project, which is slated for Phase I completion this fall. The development, which will also feature Sugarfire, Macadoodles and Starbucks, comes on the heels of the debut of The Prairie Luxury Apartments in 2023. Mia Rose and MBG also built that property. Between the two projects, Mia Rose is investing $150 million in the Dardenne Prairie community. Prairie Encore features a figure-eight building design with two separate courtyards. A 3,310-square-foot lobby connects to a leasing office, coffee bar, kitchen bar, fitness center and other common spaces. Units will come in studio, one-, two- and three-bedroom floor plans. A 669-square-foot coworking suite will be housed on the second floor. Additional amenities will include a dog park, gathering spaces, a pool and turf areas with barbecue grills. Community gathering spaces as well as sand volleyball and pickleball will be within walking distance at Sugarfire. Prairie Encore marks the sixth luxury community for MBG in St. Charles County since 2023, encompassing 1,068 units.

June 25, 2025

Build-to-Rent Development Single-Family Rental Texas

HSF Provides $36.2M Construction Loan for Build-to-Rent Project in Atascocita, Texas

by Taylor Williams June 24, 2025

ATASCOCITA, TEXAS — HALL Structured Finance (HSF) has provided a $36.2 million construction loan for Humble Ranch, a 160-unit build-to-rent residential project that will be located about 25 miles north of Houston in Atascocita. Humble Ranch will offer a mix of one-bedroom duplexes and two- and three-bedroom detached homes, all of which will feature quartz countertops, stainless steel appliances and private fenced yards with patios. Communal amenities will include a clubhouse, business center, pool and a fitness center, as well as access to the 21-acre Atascocita Park. Paul Smyth of Broadsword Investors arranged the loan on behalf of the borrower, Houston-based Lēva Living. Construction is underway and expected to be complete in the third quarter of 2026.

June 24, 2025

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