Saturday, June 21, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

Jefferson-Fossil-Creek-Haltom-City
DevelopmentLoansMultifamilyTexas

JPI Receives Construction Financing for 386-Unit Multifamily Project in Haltom City, Texas

by Taylor Williams

HALTOM CITY, TEXAS — Locally based developer JPI has received construction financing for Jefferson Fossil Creek, a 386-unit multifamily project that will be located north of Fort Worth in Haltom City. Units will feature stainless steel appliances, granite countertops and walk-in closets. Amenities will include a pool with cabanas, demonstration kitchen, coffee bar and an outdoor CrossFit area. Construction is scheduled to begin in September, and the first units are expected to be available for occupancy by early 2023. The name of the lender and other details of the financing were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilySingle-Family RentalTexas

Avanta Residential Acquires Land in McKinney, Plans 276-Unit Single-Family Rental Community

by Taylor Williams

MCKINNEY, TEXAS — Denver-based Avanta Residential, a division of Hunt Cos., has acquired 27 acres in the northern Dallas suburb of McKinney for the development of a 276-unit single-family rental community. The new residential complex will be located within the Painted Tree master-planned development. Communal amenities will include a pool, clubroom, leasing office and a fitness center. Residents will also have access to green space, pocket parks and electric car charging stations. Walker & Dunlop arranged the equity financing for the project. Construction is slated to begin in November and to be complete in mid-2023.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLee & AssociatesMidwestMultifamilyWisconsin

Lee & Associates Brokers Sale of Multifamily Development Site in Middleton, Wisconsin

by Kristin Harlow

MIDDLETON, WIS. — Lee & Associates has brokered the sale of a one-acre site at 2644 Branch St. in Middleton, just northwest of Madison. The sales price and seller were undisclosed. John Walsh of Lee & Associates represented the buyer, Branch Street Properties LLC. The buyer plans to build a luxury apartment building rising three stories with 36 units.

Continue Reading
FacebookTwitterLinkedinEmail
Residences-at-Reuten-Park-Closter-New-Jersey
DevelopmentMultifamilyNew JerseyNortheastSeniors Housing

Reuten Associates, Metropolis Unveil Plans for 195-Unit Seniors Housing Project in Closter, New Jersey

by Taylor Williams

CLOSTER, N.J. — Reuten Associates and Metropolis Property Group have unveiled plans for a new 195-unit seniors housing community that will be located in the Northern New Jersey community of Closter. The property will be situated within Reuten Corporate Park and will offer independent living, assisted living and memory care in studio, one- and two-bedroom floor plans. Amenities will include private outdoor social spaces, an outdoor dining courtyard, multiple indoor dining areas, a café, pool, a spa/salon and fitness center, cinema, game room, community gardens, fire pits and walking trails. A tentative groundbreaking date was not disclosed, but construction is expected to last 14 to 16 months.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseSoutheastTennessee

MVP3 Entertainment, ATWEC Break Ground on $50M Mixed-Use Entertainment Project in Memphis

by Julia Sanders

MEMPHIS, TENN. — Marie Pizano of MVP3 Entertainment Group and Darnell Stitts of ATWEC Technologies have broken ground on MVP3 Studios, an over 40-acre mixed-use entertainment project located in Memphis. The project is expected to cost $50 million and is predicted to create 600 jobs, according to WREG Channel 3 News. The co-developers purchased the 80,000-square-foot Malco Majestic Cinema theater and the surrounding 18 acres to redevelop the property for MVP3 Studios. The site will eventually house production sound stages, radio studios, music recording studios, a TV network and movie theaters. The development of MVP3 Studios will take four phases to complete. Phase I began in July, which is when the main theater, dining and reception areas were opened. The first phase is expected to be complete by the fall or winter of 2021. Phase II will include movie theaters that will show blockbuster films, restaurants, retail shops, an art gallery and a museum. In Phase III, the development team will build movie sound stages, a music recording studio, production offices and conference spaces. Lastly, Phase IV will kick off the completion of ATWEC Technology & Indoor Sports Center, as well as a hotel and an indoor theme park. This …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentRetailWestern

WSJ Report: Amazon Plans New Department Store Chain

by Jeff Shaw

SEATTLE — Amazon (NASDAQ: AMZN), the Seattle-based e-commerce giant, is planning to open a chain of department stores to boost its sales in clothing, household items, electronics and other areas. The news comes from a Wall Street Journal report citing “people familiar with the matter.” The first stores are expected to open in Ohio and California and, at around 30,000 square feet, will be smaller than a typical department store. “It is unclear what brands Amazon will offer in the stores, although the company’s private-label goods are expected to feature prominently,” the Journal reports. This is not Amazon’s first foray into brick-and-mortar retail, despite being perhaps the largest e-commerce disruptor of the sector. Amazon made big waves in 2017 by purchasing high-end grocery chain Whole Foods Market for nearly $14 billion. It has also, in recent years, experimented with concepts such as small-scale, checkout-free grocery stores.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestOffice

Sterling Bay Breaks Ground on 200,000 SF Office, Retail Building in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Chicago-based real estate development firm Sterling Bay has broken ground on 345 N Morgan, a 200,000-square-foot office and retail building in Chicago’s Fulton Market. Sterling Bay acquired the development site in 2014 and originally intended to break ground in March 2020, but the project was halted due to COVID-19. Designed by Eckenhoff Saunders Architects, the building will feature private outdoor terraces, a 5,000-square-foot roof deck, bar and lounge, fitness center, coworking library and high-tech conference spaces. The construction timeline is 13 months, enabling tenants to move in as early as September 2022. Skender and JLL Construction are building the project. Sterling Bay secured roughly $100 million in combined construction loans from senior lender Bank OZK and mezzanine lender PCCP.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestMultifamily

McShane Completes Construction of 364-Unit Luxury Apartment Complex in Warrenville, Illinois

by Kristin Harlow

WARRENVILLE, ILL. — McShane Construction Co. has completed Arden Residences in Warrenville, about 30 miles west of Chicago. Interforum Holdings was the developer for the 364-unit luxury apartment complex. The four-story property offers 201 one-bedroom units, 153 two-bedroom units and 10 three-bedroom units wrapped around a 386-space parking garage. Amenities include a fitness center, yoga studio, business center, library, massage room, sauna, arts and crafts room, pool, barbecue areas and two pickle ball courts. Baranyk Associates served as architect.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMixed-UseTexas

Stratus Properties Receives Construction Financing for Mixed-Use Development in Metro Houston

by Taylor Williams

MAGNOLIA, TEXAS — Austin-based Stratus Properties (NASDAQ: STRS) has received construction financing for the initial phase of Magnolia Place, a mixed-use development located northwest of Houston. Veritex Community Bank provided the three-year, $14.8 million construction loan for Phase I. The first phase of development will revolve around the construction of two retail buildings totaling 19,000 square feet, five pad sites and various pieces of infrastructure. In addition, construction is underway on a 95,000-square-foot store for regional grocer H-E-B at the adjoining 18-acre site. At full buildout, Magnolia Place will consist of four retail buildings totaling 35,000 square feet, five retail pad sites, 194 single-family homes and 500 multifamily units.

Continue Reading
FacebookTwitterLinkedinEmail
Keller-Center-Stage
DevelopmentMixed-UseTexas

Realty Capital Management, Greystar Underway on 38-Acre Mixed-Use Project in Keller, Texas

by Taylor Williams

KELLER, TEXAS — Locally based developer Realty Capital Management and South Carolina-based Greystar are underway on construction of Keller Center Stage, a 38-acre mixed-use project on the northern outskirts of Fort Worth. The initial phase will consist of The Lyric at Keller Center Stage, a multifamily community with Class A amenities that is being developed by Greystar, as well as 24,000 square feet of commercial space and a community event lawn. The latter two elements are expected to be complete by the third quarter of next year, while the apartment community is slated for full completion in the third quarter of 2023. At full buildout, Keller Center Stage will comprise 475 multifamily units, 57 single-family homes and 60,000 square feet of office, retail and restaurant space.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts