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DevelopmentFloridaLoansSeniors HousingSoutheast

Greystone Arranges $52.6M Construction Financing for Seniors Housing Community in Gainesville, Florida

by John Nelson

GAINESVILLE, FLA. — Greystone has arranged $52.6 million in debt and equity construction financing for Discovery Place at Celebration Pointe in Gainesville. Upon completion, the seniors housing community will feature 180 units and a high-end amenity package, according to Greystone. The type of care was not disclosed. Cary Tremper and Matt Miller of Greystone originated the transaction on behalf of the borrower, Bonita Springs, Fla.-based Discovery Senior Living. Discovery Place will serve as an anchor at Celebration Pointe, a 1.5 million-square-foot mixed-use project along I-75 that features Regal Cinemas, Bass Pro Shops, Dave & Buster’s, offices, apartments and several stores and restaurants. Built by Celebration Pointe Holdings and RaCo Real Estate Advisors, Phase II of Celebration Pointe will feature a 142,000-square-foot events center that is sanctioned by the NCAA to host athletic and scholastic events.

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

SJC Ventures Signs New Tenants to Join Phase II of Interlock Project in Atlanta

by John Nelson

ATLANTA — SJC Ventures has signed several new tenants to join Phase II of The Interlock, a $750 million mixed-use development underway in Atlanta’s West Midtown district. New concepts joining include Starbucks, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. SJC Ventures expects to announce a new round of tenants in the near future. In addition to the newly announced restaurants and salon, the second phase of The Interlock will be anchored by a 42,000-square-foot Publix grocery store, 670 student housing units for Georgia Tech students, 275,000 square feet of commercial space and limited restaurant opportunities. Construction on Phase II began in May 2021, and SJC Ventures plans to fully open the second phase in 2024. Phase II of The Interlock will be connected to Phase I, which is anchored by a Puttshack, the Bellyard hotel and Rooftop L.O.A., via a one-acre public park.

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Banner-Park-Braintree-Massachusetts
DevelopmentIndustrialMassachusettsNortheast

Onshore Properties to Develop 326,000 SF Industrial Project in Braintree, Massachusetts

by Taylor Williams

BRAINTREE, MASS. — Locally based developer Onshore Properties will develop Banner Park, a 326,000-square-foot industrial project located on a 130-acre site in the southern Boston suburb of Braintree. Both of Banner Park’s two buildings will total approximately 163,000 square feet and feature clear heights of 40 feet. Combined, the facilities will offer 19 loading docks and parking for up to 560 vehicles. Colliers is marketing the development for lease.

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DevelopmentIndianaMidwestRetail

Park Development to Redevelop Vacant Mall in Logansport, Indiana

by Kristin Harlow

LOGANSPORT, IND. — Chicago-based Park Development has unveiled plans to redevelop the vacant Logansport Mall in central Indiana into an open-air retail center named The Junction. Built in 1968, the mall has sat largely vacant for the past decade. Design plans by GEA Architects call for nearly 160,000 square feet of retail space along with three outlots. The Junction is shadow anchored by a Walmart Supercenter and Home Depot. Existing tenants Dollar Tree and Dunham’s Sports will also remain. Planet Fitness opened a new location last spring, Harbor Freight Tools is slated to open in January and a Home2 Suites hotel is scheduled to open this fall. Randall, Miller & Associates will serve as project engineer, and Lee & Associates will market the property for lease. A timeline for completion was not provided. Park Development also plans to build a single-family housing project less than a mile from The Junction. Dubbed Lexington Village, the community will consist of 52 homes ranging in size from 900 to 3,000 square feet.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

Evergreen Real Estate, Imagine Group Break Ground on $43M Affordable Housing Project in Chicago

by Kristin Harlow

CHICAGO — A joint venture between Evergreen Real Estate Group and Imagine Group has broken ground on Auburn Gresham Apartments, a $43 million affordable housing project in Chicago. Plans call for 58 units across two buildings. The project represents the first of more than 10 major construction projects to move forward through the city’s INVEST South/West initiative. This urban revitalization strategy being implemented by Mayor Lori Lightfoot is guiding $1.4 billion in public and private investment within 10 West and South Side community areas. Designed by Nia Architects and Ross Barney Architects, Auburn Gresham Apartments will include a three-story building at 838 W. 79th St. that will feature 28 units, 28 parking spaces and 5,200 square feet of retail space to be occupied by West African food purveyor AYO Foods. A five-story building at 757 W. 79th St. will feature 30 units, 14 parking spaces and 3,300 square feet of commercial space occupied by KLEO Community Center and The Park Supper Club. All the units will be priced at affordable levels, with monthly rates ranging from approximately $925 to $1,250. The Department of Planning and Development and the Chicago Department of Housing are supporting the project with $18 million in …

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DevelopmentIndustrialSelf-StorageTexas

2GR Equity, Connell Realty Underway on 562-Unit Self-Storage Facility in Waxahachie, Texas

by Taylor Williams

WAXAHACHIE, TEXAS — A joint venture between two locally based firms, 2GR Equity and Connell Realty Services Inc., is underway on construction of a 562-unit self-storage facility in the southern Dallas suburb of Waxahachie. Dallas-based Lone Star Self Storage will operate the facility, which will be located at the corner of State Highway 77 and Cardinal Road. Simmons Bank provided construction financing for the project, which is expected to be complete by the end of the year.

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Life-at-Grand-Oaks-Houston
Affordable HousingDevelopmentMultifamilyTexas

Olive Tree Plans $25M Renovation of Houston Affordable Housing Community

by Taylor Williams

HOUSTON — New York City-based investment firm Olive Tree Holdings will undertake a $25 million renovation of The Life at Grand Oaks, a 556-unit affordable housing community in Houston. Built in 1982, the property offers one- and two-bedroom units that are reserved for households earning 60 percent or less of the area median income. Units will be outfitted with new flooring, countertops and fixtures, and the property’s HVAC systems will be upgraded. Olive Tree also plans to refresh the amenity spaces, which include a pool, playground, clubhouse and a computer room. Completion is slated for mid-2023.

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66-Galen-Street-Watertown-Massachusetts
DevelopmentLife SciencesMassachusettsNortheast

Davis, Boston Development Top Out 224,000 SF Life Sciences Building in Metro Boston

by Taylor Williams

WATERTOWN, MASS. — A partnership between two locally based firms, Davis Cos. and Boston Development Group, has topped out a 224,000-square-foot life sciences building located at 66 Galen St. in the western Boston suburb of Watertown. Designed by Elkus Manfredi Architects, the project marks Phase I of a 450,000-square-foot campus that will comprise two buildings and multiple acres of open green space. The first building will house six tenant spaces, a fitness center, rooftop terrace, underground parking and ground-floor retail space. Completion is slated for 2023.

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DevelopmentFloridaIndustrialSoutheast

Dalfen Industrial Breaks Ground on 896,400 SF Logistics Project in Central Florida

by John Nelson

AUBURNDALE, FLA. — Dalfen Industrial has purchased 73.7 acres in the Central Florida city of Auburndale for the development of two Class A industrial facilities. The park will have direct access to an interchange of Highway 559 and I-4, a premier corridor in the region. The development will span 896,400 square feet of industrial space upon completion. No construction timeline was disclosed. Notable industrial tenants in the Auburndale area include Amazon, Walmart, PepsiCo, UPS and Sysco, according to Dalfen. The Dallas-based developer currently owns approximately 67 industrial properties in the Southeast.

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DevelopmentIndustrialMidwestOhio

Stonemont Financial Group to Build 859,240 SF Spec Industrial Development in Columbus

by Kristin Harlow

COLUMBUS, OHIO — Stonemont Financial Group is set to break ground next month on Castings Commerce Park, a three-building industrial development totaling 859,240 square feet in the South Side district of Columbus. The speculative project is slated for completion in the third quarter of 2023. The 71-acre site was formerly home to Buckeye Steel, a longtime steel manufacturer dating back to the 1800s. Located at 2211 Parsons Ave., the property features convenient access to I-71 and I-270.

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