HOUSTON — A partnership between local developer Hanover Co. and Transwestern Investment Group (TIG) has broken ground on Kirby 288, a 213,425-square-foot speculative industrial project in South Houston. The development will feature a cross-dock configuration, 36-foot clear heights and excess trailer storage. Powers Brown is the project architect, and Kimley-Horn is the civil engineer. Colliers is the leasing agent. Completion is slated for the second quarter of next year.
NEW YORK CITY — A joint venture between Baltimore-based MCB Real Estate and New York-based Osiris Ventures will undertake a $100 million retail redevelopment project in the Bay Ridge area of Brooklyn. The joint venture acquired the 14-lot assemblage at 458 86th St., which formerly housed a Century 21 department store that first opened in the 1960s, for $47.5 million. The redevelopment, which will be known as Century Marketplace, will involve reconstructing the multi-story structures facing 86th Street to create a two-story structure that aligns with the existing rear building on 87th Street. A new interior atrium fronting 86th Street will also be added, and the new development will ultimately feature 95,000 square feet of retail space with a grocery anchor. Ethan Stanton, Jeffrey Julien, Brendan Maddigan and Michael Mazzara of JLL represented the seller, ASG Equities, in the transaction. Construction is expected to begin before the end of the year.
NEW YORK CITY — A partnership between Bowery Residents’ Committee (BRC), Camber Property Group and the NYC Department of Social Services has completed a $100 million affordable housing project in the Far Rockaway area of Queens. The Robert C. Woods Apartments offers 147 permanently affordable residences and also houses the Wanda Patterson Women’s Residence, a 100-bed shelter reserved for single women. The unit mix includes 125 studios, 88 of which are supportive housing for formerly homeless individuals, nine one-bedroom apartments and 13 two-bedroom residences. The other units are reserved for renters earning between 30 and 60 percent of the area median income. Residents have access to a social service programming space, community room, outdoor recreational space, bike storage, building-wide Wi-Fi and a laundry room.
HESPERIA, CALIF. — Newcastle Partners has broken ground on an industrial development located at 9260 Mesa Linda St. in Hesperia. Situated on 18.3 acres with immediate access to I-15, the project will offer 406,138 square feet of Class A industrial space. Ryan Lal and Dante Borruso of Voit Real Estate Services are overseeing all marketing, sales and leasing efforts for the property.
EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged joint venture equity and construction financing totaling $55.6 million for The Fox and The Grouse Phase II, a 188-unit apartment development in the Golden Triangle neighborhood of Eden Prairie. Josh Talberg, Scott Loving, Joe Peris, Matthew Schoenfeldt, Colin Ryan and Will Hintz of JLL represented the borrowers, Greco and Eagle Ridge Partners. JLL arranged a $39.1 million three-year, floating-rate loan through MidWestOne Bank and sourced $16.5 million in joint venture equity from Amstar Group. Construction is scheduled to begin immediately. The six-story development will offer a mix of studios, one-, two- and three-bedroom units, with 25 percent of the homes designated as affordable at 50 to 80 percent of the area median income. The project features 167,312 square feet of rentable space and 263 parking stalls. Amenities will include an outdoor pool, golf simulator, wellness center, work-from-home spaces, a theater room, clubroom, private dining area and underground parking. There are more than 9 acres of wetlands. Designed by BKV Group, the project represents the second phase of a transit-oriented development that will be directly connected to the Golden Triangle Station on the Southwest Light Rail Transit Green Line Extension, scheduled to …
ALPHARETTA, GA. — National developer Portman Holdings has acquired Brookside Office Park, a 266,000-square-foot development located in the northern Atlanta suburb of Alpharetta with plans to undertake a mixed-use redevelopment. The seller and sales price weren’t disclosed, but the Atlanta Business Chronicle reports that an affiliate of Bridge Commercial Real Estate sold the property for $27 million. Brookside Office Park consists of two buildings on a 20-acre site that were originally constructed in the 1980s. Portman plans to retain one 130,000-square-foot building, raze the other and pave the way for a proposed vision that includes 335 multifamily residences, 70 townhomes and 60,000 square feet of retail and restaurant space. Townhome prices will start at roughly $650,000, according to reports from the Atlanta Business Chronicle. The redevelopment will also feature activated public gathering areas, pedestrian connections and outdoor amenities that promote walkability and community engagement. Portman received unanimous approval from the Alpharetta City Council in April to transform the site into a mixed-use destination. Construction is expected to begin in 2026, with completion anticipated in 2029. “With Brookside, we’re taking an older office campus and giving it new life, keeping the best of what’s there while bringing in housing, retail and spaces …
AUSTIN, TEXAS — Park7 Group has completed Icon, a 30-story student housing tower located near the University of Texas at Austin campus in the city’s West Campus neighborhood. The property offers 555 beds across 216 units in one- through five-bedroom configurations. Shared amenities include a rooftop pool, fitness center, media room, game and lounge spaces and study areas. The community also offers four levels of below-ground parking. The development team for the project included Hoar Construction, Rhode Partners, DCI Engineers, Blum Engineering, Wuest, Power Design, GMI, Southern Wall Systems and Kilgore Multifamily. Construction began in spring 2023 and topped out last fall.
NEW YORK CITY — A partnership between Slate Property Group, nonprofit organization RiseBoro Community Partnership and Goldman Sachs has completed 326 Rockaway, an affordable housing development located in the Brownsville neighborhood of Brooklyn. Of the property’s 216 units, 130 are supportive housing for tenants who formerly were homeless, and the remaining units are available for households earning 60 percent or less of the area median income. Amenities include an outdoor recreation area with play structures and landscaped areas, a community room, fitness center and children’s playroom. Aufgang Architects designed the project, and SD Builders & Construction served as the general contractor. Construction began in summer 2023.
Kraus-Anderson Breaks Ground on $78M Military Gallery at North Dakota Heritage Center & State Museum
BISMARCK, N.D. — Kraus-Anderson has broken ground on a $78 million Military Gallery at the North Dakota Heritage Center & State Museum in Bismarck. The North Dakota National Guard and the State Historical Society of North Dakota and their respective foundations are partnering on concept and design of the gallery. State government teams and representatives from military branches, tribal nations, private business, veterans’ organizations and additional public and private entities are helping to shape the content. The gallery will connect to the ND Heritage Center & State Museum on its south side. The project will offer two floors of immersive exhibits and engaging experiences that tell stories of the state’s military history from early Native American practices before statehood to today. Designed by Zerr Berg Architects and BWBR Architects, the 67,000-square-foot project features a 20,000-square-foot military gallery plus ample space for large events, a North Dakota National Guard Regimental room, expanded food service and an outdoor courtyard and amphitheater. Completion is slated for fall 2027.
WAREHAM, MASS. — A partnership between Pennrose and the Wareham Redevelopment Authority (WRA) has opened Swifts Landing, a 93-unit affordable housing complex located near Cape Cod in the southern part of The Bay State. Swifts Landing comprises a 49-unit building with a mix of workforce and affordable apartments and a 44-unit building for renters aged 62 and older. Units come in one-, two- and three-bedroom floor plans and are subject to a range of income restrictions. Amenities include a clubhouse with an outdoor patio, fitness center, community garden and open green space, a playground and wooded walking paths. MassDevelopment provided $16.3 million in financing for the project.