Development

PMG Purchases Nashville Land for $22M, Plans to Develop Multifamily Tower

by Julia Sanders November 12, 2021

NASHVILLE, TENN. — Miami- and New York-based Property Markets Group (PMG) has purchased land at 915 Division St. in Nashville’s Gulch district. The firm plans to develop the site into Society Nashville, a 471-unit, 16-story mixed-use apartment project. Market Street sold the property for $22 million. Tarek El Gammal of Newmark’s Nashville office brokered the land transaction. Society Nashville will feature 7,500 square feet of retail space and 463 parking spaces. Slated for delivery in early 2024, the development will include a mix of traditional units and co-living options. Community amenities will include a pool deck, fitness center and coworking facilities. Baker Barrios Architects Inc., an Orlando-based architectural firm, is the designer for the project. The development is a joint venture between PMG, New York and Miami-based New Valley Realty and New York-based RMWC. Society Nashville will be part of PMG’s Society Living brand, which was created to offer reasonable rents near urban areas. The brand has a focus on mostly market-rate apartments but offers to make co-living easier by eliminating shared bathrooms, splitting up the bills and helping residents to find roommates. In May 2020, Society Las Olas opened in downtown Fort Lauderdale, Fla. Additionally, Society Biscayne in downtown …

November 12, 2021

Development Multifamily Texas

AHS Residential to Develop 576-Unit Multifamily Community in West Houston

by Taylor Williams November 12, 2021

HOUSTON — Florida-based AHS Residential will develop a 576-unit multifamily community within Ten Oaks, an 83-acre master-planned development located within the Energy Corridor in West Houston. AHS Residential’s in-house architecture team is designing the project, which will consist of three 12-story buildings on a 6.6-acre site that will house one-, two- and three-bedroom units. Amenities will include a pool, fitness center and a resident clubhouse. Construction is expected to begin in April. Wolff Cos. is the master developer of Ten Oaks that sold the land to AHS Residential.

November 12, 2021

Development Multifamily Seniors Housing Texas

Cadence McShane Breaks Ground on 121-Unit Seniors Housing Community in Dallas

by Taylor Williams November 12, 2021

DALLAS — General contractor Cadence McShane has broken ground on a 121-unit seniors housing community located in the Highland Park area of Dallas. Developed by Anthology Senior Living and designed by PRDG, the 11-story, 130,000-square-foot building will consist of 24 memory care units and 97 assisted living units. Amenities will include a salon, theater, fitness center, library, a pub with a fireplace and elevated terraces. Completion is slated for June 2023.

November 12, 2021

Development Multifamily New Jersey Northeast Seniors Housing

Callahan Construction Breaks Ground on 90-Unit Seniors Housing Project in Basking Ridge, New Jersey

by Taylor Williams November 12, 2021

BASKING RIDGE, N.J. — Callahan Construction Managers has broken ground on Residence at Basking Ridge, a 90-unit seniors housing project that will be located about 40 miles west of New York City. Developed by LCB Senior Living and designed by The Architectural Team, the property will offer assisted living, memory care and respite care services. Amenities will include common living rooms, a bistro, salon and a fitness area. The development team expects to begin welcoming residents in early 2023.

November 12, 2021

Development Mixed-Use Multifamily Office Restaurant Retail Washington Western

Legacy Partners, Lionstone Investments Break Ground on 623-Unit Mixed-Use Redevelopment in Downtown Redmond, Washington

by Amy Works November 12, 2021

REDMOND, WASH. — A joint venture between Legacy Partners and Lionstone Investments has broken ground for the redevelopment of the Redmond Square shopping center in downtown Redmond. When completed, the mixed-use development will feature 623 apartments spread across six buildings on 3.5 acres. The first phase of the development, located at 16595 Redmond Way, will offer 311 apartments and nearly 20,000 square feet of ground-floor retail space. Residences will feature built-in closets, Bertazzoni Italian appliances, kitchen range hoods, built-in microwaves, Carrera quartz countertops, floating bathroom vanities with framed mirrors, Latch smart home devices and air conditioning. The second phase, located at 16502 Cleveland St., will consist of 312 apartments and 13,000 square feet of retail and commercial space. Construction of the second phase is slated to begin in 2022. Tiscareno Associates is architect of record for both buildings, which will open in phases from winter 2023 to summer 2024.

November 12, 2021

Colorado Development Loans Multifamily Western

Prime West Receives $71.8M in Financing for Alloy Sunnyside Multifamily Development in Denver

by Amy Works November 12, 2021

DENVER — Prime West has obtained $71.8 million in combined joint venture equity and construction financing for the development of Alloy Sunnyside, an apartment community at 4120-4158 N. Jason St. in Denver’s Sunnyside neighborhood. JLL Capital Markets arranged co-general partner capital with Angelo Gordon, limited partnership joint venture equity through a REIT and construction financing from a national money center bank for the borrower. Leon McBroom, Mark Erland and Will Haass of JLL Capital Markets Debt Advisory team secured the financing for the borrower. Slated for completion in early 2023, Alloy Sunnyside will feature 209 apartments in a mix of studio, one-, two- and three-bedroom layouts averaging 731 square feet. Units will offer in-unit washer/dryers, luxury vinyl tile hardwood flooring, walk-in closets, stainless steel appliances and private balconies. The community will feature 2,400-square-foot of ground-floor retail space, structured parking, a community entertainment room, fitness center, outdoor pool and sundeck, terrace lounge, dog wash station and parcel lockers. The project team includes Catamount Constructors as general contractor and RATIO Architects as architect.

November 12, 2021

Arizona Development Industrial Western

CA Industrial, DWS/RREEF Break Ground on 1.5 MSF Luke Logistics Center in Glendale, Arizona

by Amy Works November 12, 2021

GLENDALE, ARIZ. — CA Industrial, in joint venture partnership with DWS/RREEF, has broken ground for the first phase of Luke Logistics Center at the northwest corner of Loop 303 and Glendale Avenue in Glendale. Situated on 90 acres, the four-building project features a total of 1.5 million square feet of industrial space. Each building will feature 32-foot to 40-foot clear heights, cross-dock and rear loading with 185-foot-deep gated truck courts, trailer storage, ample car parking, ESFR sprinkler systems and 60-foot speed bays. LGE Design Build is serving as the project’s designer and builder. John Lydon and Hagen Hyatt of JLL will handle leasing of the property.

November 12, 2021

Development Illinois Industrial Midwest

Summit Design + Build Completes Warehouse Expansion for TLC Ingredients in Illinois

by Kristin Harlow November 12, 2021

CREST HILL, ILL. — Summit Design + Build has completed construction of a 55,012-square-foot expansion for TLC Ingredients in Crest Hill near Joliet. The warehouse for the food ingredients and industrial products distributor previously spanned 44,000 square feet. The expansion includes new warehouse and cold storage space along with four new loading docks, a breakroom and additional parking stalls. Harris Architects Inc. was the project architect.

November 12, 2021

Development Industrial Southeast West Virginia

Joint Venture Breaks Ground on 730,000 SF Tabler Station Logistics Park in Martinsburg, West Virginia

by Julia Sanders November 11, 2021

MARTINSBURG, WV. — Hines, along with an investor advised by MetLife Investment Management, MetLife, Inc.’s institutional asset management business, has broken ground on the first phase for Tabler Station Logistics Park, which will feature a total of over 730,000 square feet in Martinsburg. Located close to Interstate 81 on a 145-acre site, the first phase of Tabler Station Logistics Park will include two Class A, industrial buildings with each building consisting 365,400 square feet. Both buildings will feature 40-foot clear heights at first column, cross-dock configuration with 450-foot building depths, 185-foot-deep truck courts and full-building circulation with segregated car and trailer traffic. Construction on Phase I of the project is slated for completion by the fourth quarter of 2022. The overall project will feature three buildings with approximately 1.6 million square feet of industrial space. Powers Brown Architects and Pennoni Engineering designed the project. RS Mowery will construct Phase I of the development. Wells Fargo is providing an undisclosed amount of construction financing. Chuck Watters, Tom Griggs, John Carroll, Julia Craig and Eric Mitman of Hines worked on the development team for the project.

November 11, 2021

Development Industrial Texas

Stonemont Financial Breaks Ground on 485,680 SF Industrial Project in Fort Worth

by Taylor Williams November 11, 2021

FORT WORTH, TEXAS — Stonemont Financial Group has broken ground on DFW Point35, a 485,680-square-foot industrial project located less than three miles from the AllianceTexas master-planned community in Fort Worth. The development will consist of two rear-load warehouses totaling 218,400 and 267,280 square feet. Building features include 32-foot clear heights, ample car and trailer parking and contemporary office space. Completion is slated for summer 2022. Lee & Associates is marketing the property for lease.

November 11, 2021

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