Development

Adolfson & Peterson Begins Work on 180,000 SF VariSpace Coppell Near Fort Worth

by Taylor Williams June 28, 2021

COPPELL, TEXAS — General contractor Adolfson & Peterson has begun construction on VariSpace Coppell, a 180,000-square-foot office building near Fort Worth that will serve as the global headquarters for flexible workspace provider Vari. Designed by BOKA Powell with interior design by Corgan, the building includes 120,000 square feet of flexible office space with balconies. Amenities include a fitness center and grab-and-go food services. Completion is slated for summer 2022. Vari, formerly known as VariDesk, is known for incorporating standing desks into its workspaces.

June 28, 2021

Development Multifamily Oregon Seniors Housing Western

Greystone Communities Plans $124.2M Expansion at Friendsview Seniors Housing Project in Newberg, Oregon

by Amy Works June 25, 2021

NEWBERG, ORE. — Greystone Communities plans to break ground July 8 on an expansion project at Friendsview, a continuing care retirement community (CCRC) in the Portland suburb of Newberg. Yamhill County Hospital Authority issued $124.2 million in bond financing, underwritten by Ziegler, for the project. The community was founded in 1961 and boasts affordable CCRC living, with average monthly fees of $2,500. The expansion will bring new amenities to current residents across three new components named Springbrook Meadows North, Sutton Terrace at University Village and Charles Beals Plaza. “Replacing the health center with new residential care units, while keeping the per diem rates in a similar range, was a large part of this puzzle,” says Stuart Jackson, senior vice president of client services at Greystone Communities. The new Springbrook Meadows North neighborhood will include 14 duplex buildings housing 28 entrance-fee independent living cottage units and an expansion to the community center. The cottages will be an average of 1,535 square feet and will range between $2,670 and $3,330 in monthly fees and between $386,000 and $555,000 in entrance fees. Sutton Terrace at University Village will be constructed on the main campus and will feature a new five-story building housing 96 …

June 25, 2021

Development Industrial South Carolina Southeast

Trinity Capital Advisors Begins Construction of 850,000 SF Industrial Park in Charleston

by Julia Sanders June 25, 2021

CHARLESTON, S.C. — Trinity Capital Advisors (TCA) has begun construction of Tradepark East at Palmetto Commerce Parkway, an 850,000-square-foot, Class A industrial development in Charleston. The project is slated to be completed in 2022. Tradepark East will include four buildings. Building One, the park’s largest building, will be cross-docked and will total 342,160 square feet with 36-foot clear heights. Buildings Two and Three will total 174,720 square feet each and Building Four will span 145,600 square feet. Frampton Construction is the general contractor for Tradepark East, DMA Architecture is the design firm and Reveer Group serves as the civil engineer. Trinity Capital Advisors is a commercial real estate development and investment firm based in Charlotte, N.C.

June 25, 2021

Development District of Columbia Mixed-Use Multifamily Retail Southeast

BKV Group Opens Beckert’s Park Mixed-Use Project in D.C.’s Capitol Hill District

by Julia Sanders June 25, 2021

WASHINGTON, D.C. — BKV Group has opened Beckert’s Park, a 2.8-acre mixed-use project featuring 325 apartments and a new 60,000-square-foot Safeway grocery store, in the Capitol Hill neighborhood of Washington, D.C. Located at the corner of 14th Street and D Street SE, the development has replaced a parking lot and existing Safeway store that stood on the site for nearly 50 years. BKV Group worked with developer Foulger-Pratt to create a design for the Beckert’s Park project. The building is a single structure that includes residential units, the upgraded Safeway store and 8,000 square feet of commercial space. Additionally, the property offers underground parking for residents and Safeway customers. Residences at Beckert’s Park include studio, one-, two- and three-bedroom units ranging from 495 to 1,706 square feet, some with private outdoor space. All apartment units feature quartz countertops, customizable closets and in-unit laundry, and some include moveable kitchen islands and double sinks in the primary bathrooms. Community amenities include an outdoor pool, seating, cabanas, dining areas and grilling stations. Indoor amenities include a lobby with lounge seating and coworking space; clubroom with catering kitchen; game room; fitness center; golf simulator and a pet-washing station. Also, a multifunctional indoor sport court …

June 25, 2021

Development Office Texas

Jay Paul Co. to Develop 872,500 SF Springdale Green Office Complex in East Austin

by Taylor Williams June 25, 2021

AUSTIN, TEXAS — San Francisco-based development and investment firm Jay Paul Co. has announced plans to develop Springdale Green, an 872,500-square-foot office complex in East Austin. Designed by Gensler, the 30-acre property will comprise two six-story buildings and multiple outdoor areas, as well as an onsite parking garage. About two-thirds of the site (19 acres) has been preserved and restored with native meadows, woodlands and plantings, as well as an urban creek tributary. Amenities will include an 18,000-square-foot flexible conference space; 23,000-square-foot fitness and wellness center; jogging and nature trails; and basketball and volleyball courts. A firm construction timeline has not yet been established.

June 25, 2021

Affordable Housing Development Multifamily Seniors Housing Texas

Atlantic Pacific, HCDD to Build 135-Unit Mixed-Income Seniors Housing Community in Houston

by Taylor Williams June 25, 2021

HOUSTON — A partnership between an affiliate of Atlantic Pacific Communities and the Houston Housing and Community Development Department (HCDD) have unveiled plans for Heritage Senior Residences, a mixed-income senior living community in Houston that will replace housing lost during Hurricane Harvey. About 70 percent of the units, which will feature one- and two-bedroom floor plans, will be earmarked as affordable, while the remaining units will be rented at market rates. Amenities will include a fitness center, laundry facilities, clubroom, community dining area, business center, conference room, card room and a recreational deck terrace with pavilions and grills. Construction is slated for completion in late 2022. Bank of America provided a $20.5 million construction loan for the project, and Citi Community Bank provided $9.8 million in permanent financing. The capital stack also includes $14.3 million in city-appropriated disaster relief funds and $13.8 million in low-income housing tax credit equity.

June 25, 2021

Development Industrial Texas

i3 Interests Breaks Ground on 148,900 SF Cold Storage Facility in Metro Houston

by Taylor Williams June 25, 2021

PASADENA, TEXAS — Developer i3 Interests has broken ground on 3° Red Bluff, a 148,900-square-foot cold storage facility that will be located in the eastern Houston suburb of Pasadena. The Class A property will consist of two buildings on a 12-acre site that can be customized to fit a variety of cold storage needs, from bulk distribution to food processing. About 62 percent of the first building is preleased to Houston Meat Distributors. Colliers International is leasing the development, completion of which is slated for late in the third quarter.

June 25, 2021

Development Multifamily New Jersey Northeast

Fisher Development Begins Leasing 452-Unit Apartment Building in Jersey City

by Taylor Williams June 25, 2021

JERSEY CITY, N.J. — Fisher Development Associates has begun leasing the second rental tower in The Vantage Collection, a 45-story apartment building in downtown Jersey City that houses 452 luxury units. Units come in studio, one- and two-bedroom formats and are furnished with stainless steel appliances, quartz countertops and in-home washers and dryers. Communal indoor amenities include a sky lounge, fitness center with a yoga studio, children’s playroom, business center, coworking lounge, game room, lobby a coffee bar and package locker systems. Outdoor amenities include two pools, a basketball court, lawn, fire pits, 12-station BBQ area, outdoor children’s play area, outdoor fitness area and a bar with a lounge and tiered seating. S9 Architecture designed The Vantage Collection, which consists of 900 apartments across two towers. The Bozzuto Group has been tapped as the leasing and management agent for the property. Rents were initially priced at more than $2,000 per month for a studio unit, but special grand opening incentives are available for a limited time.

June 25, 2021

Development Healthcare Massachusetts Northeast Office

Quaker Lane, Turnbridge to Develop 160,000 SF Flex Building in Metro Boston

by Taylor Williams June 25, 2021

MALDEN, MASS. — A partnership between regional developer Quaker Lane Capital and Turnbridge Equities will develop a 160,000-square-foot building that can support traditional office or life sciences users in Malden, a northern suburb of Boston. Global architecture firm Gensler is designing the nine-story facility, which will be located within an Opportunity Zone. Construction is expected to begin in the first half of 2022 and to be complete some time in 2023.

June 25, 2021

Development Illinois Industrial Midwest

Sterling Bay Begins Development of 150,000 SF Spec Industrial Building in Elmhurst, Illinois

by Kristin Harlow June 25, 2021

ELMHURST, ILL. — Sterling Bay has begun development of a 150,000-square-foot speculative industrial building in Elmhurst. PREMIER Design + Build Group is serving as general contractor for the Class A project, which is located at 545 Lamont Road. The nine-acre site currently houses a 79,600-square-foot office building that will be razed. Completion of the project is slated for January 2022.

June 25, 2021

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