Development

Public-Private Partnership to Develop $9.5B International Terminal at JFK Airport in New York City

by John Nelson December 14, 2021

NEW YORK CITY — The Port Authority of New York and New Jersey has reached an agreement with a consortium of private financial sponsors to build a 2.4 million-square-foot international terminal that will anchor the south side of John F. Kennedy International Airport (JFK) in New York City. The $9.5 billion project will comprise 23 gates and be built in phases at the airport’s T1, T2 and the former T3 terminals, with groundbreaking anticipated for next year. The port authority expects for the first gates at the new terminal, dubbed New Terminal One, to debut in 2026, with full project completion expected in 2030. The overall development is expected to support 10,000 new jobs, including 6,000 construction jobs. “The time to get large infrastructure projects done is now, and I’m committed to getting JFK’s brand new Terminal One underway and completed as soon as possible,” says New York Gov. Kathy Hochul. The design-build team for the project includes AECOM Tishman and Gensler. The passenger facilities at New Terminal One will feature larger check-in, security and concessions areas. Design elements will include high ceilings, natural light, interior green space and local artwork. Technology that will be supported at the terminal include …

December 14, 2021

AC-Hotel-by-Marriott-Austin-Hill-Country

Development Hospitality Texas

LodgeCap Opens 135-Room AC Hotel by Marriott in West Austin

by Taylor Williams December 13, 2021

AUSTIN, TEXAS — Metro Dallas-based developer LodgeCap has opened the 135-room AC Hotel Austin Hill Country, a Marriott-branded hotel located at 7415 Southwest Parkway on the west side of Austin. The hotel offers a pool, lobby bar, sky lounge bar and meeting/event space. Merriman Anderson Architects provided interior design services for the five-story building, while a local affiliate of the Dallas-based firm, Merriman Pitt Anderson, provided exterior design and construction administration services.

December 13, 2021

Development Midwest Multifamily Ohio

City Club Apartments Breaks Ground on 23-Story Apartment Hotel Project in Cleveland

by Kristin Harlow December 13, 2021

CLEVELAND — City Club Apartments has broken ground on a new 23-story development in downtown Cleveland. Located at 776 Euclid Ave. and dubbed an “apartment hotel,” the project will feature 304 luxury apartment units and penthouses along with street-level retail space, including a restaurant and speakeasy, café and doggie daycare. Guests can rent a furnished or unfurnished unit for a day, week, month or multiple years. The units will come in 22 different floorplans. Amenities will include an entertainment sky club, heated rooftop pool, sky park, fitness center, yoga room, business center and theaters. Construction will begin later this month with pre-leasing scheduled to begin in the fourth quarter of 2022. First move-ins are slated for spring 2023.

December 13, 2021

Development Multifamily New Jersey Northeast

Enburg Group Opens 378-Unit Apartment Community in Hackensack, New Jersey

by Taylor Williams December 13, 2021

HACKENSACK, N.J. — Enburg Group, a developer that was established in Taiwan in 1978 as a food manufacturer, has opened Brick of Hackensack, a 378-unit apartment community in the Northern New Jersey city’s downtown area. The 15-story building features studio, one- and two-bedroom units that are furnished with stainless steel appliances, marble quartz countertops and individual washers and dryers. Amenities include a pool, fitness center with a yoga studio and a clubhouse with a pool table and TVs. Rents start at $1,800 per month for a studio unit.

December 13, 2021

Acquisitions Development Georgia Hospitality Southeast

Blaze, Argosy Acquire Hotel Property in Metro Atlanta, Plan for Multifamily Conversion

by Julia Sanders December 10, 2021

PEACHTREE CORNERS, GA. — Charleston-based Blaze Capital Partners and joint venture partner Philadelphia-based Argosy Real Estate Partners have acquired The Spoke at Peachtree Corners, an extended-stay hotel in Peachtree Corners, about 21.9 miles north of downtown Atlanta. The two firms plan to convert the hotel property into a tech-oriented multifamily community, as well as plan to invest in interior and exterior capital improvements. The sales price and seller were not disclosed. Originally built as a hotel in 1989, The Spoke at Peachtree Corners has recently undergone property upgrades, including a remodeled clubhouse, gym, sports court and pool area. The unit interiors have also been modernized and currently feature hard surface countertops, stainless steel appliances and updated lighting fixtures. Located at 450 Technology Parkway NW, the property is situated northeast of Atlanta adjacent to the Atlanta TechPark, an office park housing more than 100 tenants. Blaze Capital and Argosy will complete interior upgrades at the property, including smart-home and technology-based work-from-home amenity space. The two firms will also complete exterior upgrades, including remodeling the clubhouse and leasing office, establishing upgraded and rebranded signage, converting the existing basketball court to outdoor amenity space, expanding the existing common laundry facility and painting the …

December 10, 2021

Development Office Texas

Granite Properties Breaks Ground on 420,000 SF Office Building in Plano

by Taylor Williams December 10, 2021

PLANO, TEXAS — Granite Properties has broken ground on the 420,000-square-foot Building 6 within Granite Park, the company’s 90-acre master-planned development in the northern Dallas suburb of Plano. Designed by BOKA Powell with interior design by HKS Architects, Granite Park Six will rise 19 stories and is scheduled for a June 2023 completion. Amenities will include a terrace with a lounge, golf simulator and green space, as well as a fitness center, coffee kiosk, 400-seat lecture hall and three conference rooms. Austin Commercial is the general contractor for the project. In addition, Stonebriar Commercial Finance has signed a lease for two floors and 52,000 square feet at Granite Park Six. Tyler Thomas and Scott Morse of Citadel Partners represented the tenant in those lease negotiations. Robert Jimenez and Burson Holman represented Granite Properties on an internal basis.

December 10, 2021

Development Midwest Missouri Mixed-Use

Sterling Bank to Anchor Planned $100M Mixed-Use Project in Clayton, Missouri

by Kristin Harlow December 10, 2021

CLAYTON, MO. — Missouri-based Sterling Bank will serve as the anchor tenant for a planned $100 million mixed-use project in Clayton, just west of St. Louis. Green Street Real Estate Ventures LLC is the developer. Located at the intersection of Bemiston and Carondelet avenues, the 20-story development will include 4,500 square feet of first-floor commercial banking space with a walk-up ATM. There will also be 10,500 square feet of branch offices, 10,000 square feet of amenity space, a 270-unit apartment building and a 380-space parking structure. HDA, a Green Street company, is designing the project. Green Street Building Group and joint venture partner Tarlton will lead construction, which is expected to begin in fall 2022 and last 18 months.

December 10, 2021

Development Midwest Minnesota Multifamily

Ackerberg, Northland Real Estate Complete 193-Unit Apartment Complex in St. Paul

by Kristin Harlow December 10, 2021

ST. PAUL, MINN. — Ackerberg and Northland Real Estate have completed development of Alvera, a 193-unit apartment complex in St. Paul. Residential brand Common will manage the property, which is located at 337 W. 7th St. Amenities include a clubroom, outdoor deck, fitness center and resident lounge. Artist Aaron de la Cruz painted a mural along the property’s exterior. Monthly rents start at $1,077 for studios.

December 10, 2021

Affordable Housing Development Georgia Loans Multifamily Southeast

Atlanta Housing Secures Financing for $43.6M Affordable Development in Reynoldstown Neighborhood

by Julia Sanders December 9, 2021

ATLANTA — The Housing Authority of the City of Atlanta (Atlanta Housing) has secured financing for Madison Reynoldstown, a $43.6 million multifamily development with 116 rental units that are 100 percent affordable — meaning that rental rates will be equal to or less than 30 percent of tenants’ monthly income compared to the area median income (AMI). Atlanta BeltLine Inc., the governing authority overseeing the planning and development of the Atlanta BeltLine, sold the 1.2-acre site to Atlanta Housing and Rea Ventures, an Atlanta-based multifamily development firm, for the development. Construction is expected to start soon, with the project slated for completion within 18 months. Madison Reynoldstown will include a mixture of 71 one-bed/one-bath, 36 two-bed/two-bath and nine three-bed/two-bath units in two midrise elevator buildings atop 162 structured parking spaces. The development will also include approximately 2,700 square feet of commercial space. Community amenities will include a roof deck overlooking the Atlanta BeltLine’s Eastside Trail, business center, common community rooms, fitness center, central laundry facility and public transportation access. The affordable housing development will house working families earning up to 80 percent of AMI. Located at the northeast corner of Memorial Drive and Chester Avenue, Madison Reynoldstown is situated near …

December 9, 2021

California Development Multifamily Seniors Housing Western

Meta Housing Opens Arboleda Senior Apartments in La Puente, California

by Amy Works December 9, 2021

LA PUENTE, CALIF. — Meta Housing Corp., Western Community Housing Inc. and the City of La Puente have opened Arboleda Senior Apartments, an affordable, 74-unit multifamily community for adults age 62 years and older. The property features one- and two-bedroom units with rents ranging from 40 percent to 70 percent below market rate. Meta Housing partnered with Bank of America, California Community Reinvestment Corp., Los Angeles County Development Authority and the California Tax Credit Allocation Committee to finance the project.

December 9, 2021

Newer Posts

Older Posts