Development

Lincoln Ventures to Develop 625-Unit Multifamily Project in East Austin

by Taylor Williams February 8, 2022

AUSTIN, TEXAS — Locally based developer Lincoln Ventures has acquired land in East Austin for the development of a 625-unit multifamily project. The six-story property at 2700 E. Fifth St. will house a mix of one-, two- and three-bedroom units, with 10 percent of the residences reserved as affordable housing. The development will also include retail space that is preleased to a café and an urban grocer. The amenity package will consist of two pools, a fitness center with yoga and spin studios, coworking space, a pet park and spa and a catering kitchen. Construction is slated to begin in the second half of the year and to be complete in summer 2024.

February 8, 2022

Development Industrial Southeast Virginia

MacKenzie Investment Group Completes 202,000 SF Industrial Building in Metro Richmond

by Julia Sanders February 8, 2022

ASHLAND, VA. — MacKenzie Investment Group LLC, the development and investment arm of Baltimore-based The MacKenzie Cos., has delivered a 202,000-square-foot warehouse and industrial building in Ashland, about 16.5 miles north of Richmond. The development is part of Phase I of the North Richmond Industrial Park, a 75-acre business park that can support up to 600,000 square feet of warehouse and industrial space. The building, which was constructed on a speculative basis, is fully leased to three tenants including The Home Depot; MS International Inc., an importer and distributor of natural stones and countertops; and Sentara Healthcare, a nonprofit healthcare organization serving Virginia and North Carolina. Each tenant expects to take occupancy over the next several months. The project features 32-foot clear heights, 46 dock doors, a surface parking lot that can accommodate nearly 160 cars and 46 trailers and freight service via CSX and Northern Southern rail lines. Located at 11060 Johnson Road, the property is situated near US Route 1 and Interstates 95, 64, 85 and 295. Additionally, the project is located 23.6 miles from the Richmond International Airport.

February 8, 2022

Development Georgia Hospitality Southeast

Kimpton to Open 125-Room Boutique Hotel in Roswell, Georgia

by Julia Sanders February 8, 2022

ROSWELL, GA. — Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, will open a boutique hotel in Roswell. The Kimpton hotel is slated to open by early 2024. HEI Hotels & Resorts will operate the hotel once completed, and Randall-Paulson Architects will serve as the architect on the project. The Kimpton hotel will feature 125 guest rooms, including 20 suites, as well as nearly 6,500 square feet of indoor meetings and events space, an 11,000-square-foot courtyard, fitness center, rooftop restaurant and a ground-floor restaurant and bar. Additionally, the hotel will offer amenities including a morning coffee and tea service, hosted evening social hour, pet-friendly policies and bicycles. Located on Mimosa Boulevard and Magnolia Street, the three-story hotel will be situated near the Historic Roswell Town Square. The property will also be near many restaurants and retailers including Gate City Brewing Co., El Zarape, King Galleries, The Roswell Garden and Ipp’s Pastaria & Bar. The property is also located 21.9 miles from downtown Atlanta.

February 8, 2022

Development Leasing Activity North Carolina Office Southeast

CBRE to Occupy 24,535 SF Office at Vantage South End in Charlotte

by Julia Sanders February 8, 2022

CHARLOTTE, N.C. — Dallas-based CBRE has signed a lease to relocate its office to Vantage South End, a 635,000-square-foot mixed-use campus in Charlotte. The firm will relocate approximately 100 employees to a 24,535-square-foot space on the second floor of the Vantage South End’s east tower, which is located at 1120 South Tryon St. The company will change offices in the fourth quarter. The West Tower of the property was completed in 2021 and the new East Tower will be completed in the third quarter of 2022. The new office is part of CBRE’s Workplace360 initiative, which is the Dallas-based company’s approach to workplace strategy. The strategy is designed to promote employee flexibility, mobility and productivity. Workplace360 offices feature several workplace settings, including both collaborative and private spaces that employees can self-select to accommodate their hour-by-hour needs. Vantage South End includes two 11-story office towers connected by more than an acre of outdoor greenspace. The property’s amenities include outdoor terraces and seating, a wellness and fitness center, tenant event and training center, 55,000 square feet of restaurants and amenity spaces and a planned boutique hotel. The property’s West Tower is occupied by tenants including Lending Tree and Grant Thornton. Vantage South …

February 8, 2022

Affordable Housing Development Multifamily Washington Western

Africatown, Community Roots Break Ground on Affordable Housing Development in Central Seattle

by Amy Works February 8, 2022

SEATTLE — Africatown Community Land Trust (ACLT) and Community Roots Housing (CRH) have broken ground on 23rd and East Spring Street in Seattle’s Central District. Situated on a half-acre site, the seven-story building will feature 126 affordable housing units, including 59 studio apartments for households earning up to 50 percent of the area median income (AMI). Additionally, the community will feature 36 one-bedroom and 31 two- and three-bedroom units for households earning up to 60 percent of AMI. The landlord will provide heat, hot water, potable water, sewer and trash collection for the residents. The building’s ground floor will contain space for ACLT’s new headquarters, an affordable commercial kitchen to be used by local culinary entrepreneurs, a community room and bike storage. The design team includes GGLO, DREAM Architects and David Baker Architects. The general contractor group is a joint venture between Absher and MAD Construction, which is an African American-owned general contractor. In addition, 30 percent of the total value of the mechanical, electrical and plumbing work has been awarded to Adept Mechanical & General Contracting, an African American-owned subcontractor. KeyBank Community Development Lending and Investment is providing $37.4 million of construction financing and $14.2 million of permanent financing, …

February 8, 2022

California Development Multifamily Western

Stockbridge Real Estate, Cityview Buy South Bay X Multifamily Development in Gardena, California

by Amy Works February 8, 2022

GARDENA, CALIF. — A joint venture between Stockbridge Real Estate and Cityview has purchased South Bay X, a development site fully entitled for sustainable multifamily housing located at 12850 Crenshaw Blvd. in Gardena. South Bay X will feature 265 units in a mix of studio, one- and two-bedroom apartments ranging from 510 square feet to 1,197 square feet. The joint venture plan to achieve LEED Silver certification with the project, designing the Class A property to realize 20 to 30 percent improved energy efficiency over other similar non-green buildings. South Bay X will feature high-performing lighting, enhanced indoor air quality and a solar thermal water heating system that relies on renewable energy. The property will offer premier interior finishes, a fitness center and expansive outdoor amenities, including a pool, spa, lanai, outdoor strength area, barbecues and three open-air courtyards. The project is slated to break ground in the fourth quarter, with completion scheduled for early 2025.

February 8, 2022

Development Healthcare Maryland Mixed-Use Multifamily Office Southeast Top Stories

Howard Hughes Corp. Plans to Invest $325M in Medical Office, Residential Projects in Columbia, Maryland

by John Nelson February 8, 2022

COLUMBIA, MD. — The Howard Hughes Corp. (NYSE: HHC) has unveiled plans to invest $325 million to densify Downtown Columbia, the REIT’s 391-acre mixed-use development within the master-planned community of Columbia. Founded by James Rouse in 1967, Columbia is situated within the Baltimore-Washington, D.C. corridor in Maryland and is one of the first master-planned communities in the United States. The first new HHC project within Downtown Columbia’s Lakefront District is a four-story, 86,000-square-foot medical office building representing about $45.8 million in investment. Studio Red Architects is designing the property to achieve LEED Platinum and Fitwel certifications. Orthopaedic Associates of Central Maryland (OACM), a division of The Centers for Advanced Orthopaedics, will move its Columbia office into the new building upon completion in 2024, occupying approximately 20 percent of the asset. The property will be situated near a Whole Foods Market and Lake Kittamaqundi. Several health and wellness tenants signed on at Downtown Columbia to capitalize on the halo effect from the nearby Howard County General Hospital, which is part of Johns Hopkins Medicine. Other tenants at the Lakefront District include The Pearl spa, medtech firm NuVasive, MedStar Health’s headquarters, Healthcare Management Solutions, Welldoc, Sharecare, Consortium Health Plans, Vaya Pharma, Medisolv …

February 8, 2022

Development Multifamily Texas

JaRyCo, Wood Partners Break Ground on 325-Unit Multifamily Project in Allen, Texas

by Taylor Williams February 7, 2022

ALLEN, TEXAS — A partnership between JaRyCo, the master developer of the 135-acre Farm at Allen mixed-use development in metro Dallas, and multifamily developer Wood Partners has broken ground on a 325-unit multifamily project in the northeastern Dallas suburb. The property, known as Alta at The Farm, will offer studio, one- and two-bedroom units that will be furnished with stainless steel appliances, granite countertops and tile backsplashes. Amenities will include a pool, fitness center, outdoor activity areas, remote workspaces and a rooftop deck. Preleasing is scheduled to begin this winter, and full completion is slated for early 2023.

February 7, 2022

Development Industrial Texas

Stream Realty Partners to Develop 156,000 SF Spec Industrial Project in Northwest Houston

by Taylor Williams February 7, 2022

HOUSTON — Stream Realty Partners will develop Raceway NW Distribution Center, a 156,000-square-foot speculative industrial project that will be located in northwest Houston. Building features will include 36-foot clear heights, 109 car parking spaces and 22 trailer parking stalls. Construction is set to begin in the second quarter, and completion is scheduled for December. Project partners include Randall-Paulson Architects and civil engineer Halff Associates. A general contractor has yet to be selected.

February 7, 2022

Development Multifamily Texas

PointOne Holdings Completes 266-Unit Main Street Lofts in Mansfield, Texas

by Taylor Williams February 7, 2022

MANSFIELD, TEXAS — PointOne Holdings, a development and investment firm with offices in Atlanta and South Florida, has completed Main Street Lofts, a 266-unit apartment complex in the southern Fort Worth suburb of Mansfield. Units are available in studio, one-, two- and three-bedroom formats. The amenity package consists of a pool with an adjacent game lawn, fire pit and lounge, as well as a rooftop lounge with shuffleboard, fitness center with yoga and spin studios, dog park, conference rooms, biking trails and resident lounges with TVs. Information on starting rents was not disclosed.

February 7, 2022

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