Development

Public-Private Partnership Plans 600,000 SF West Grove Mixed-Use Project in McKinney, Texas

by Katie Sloan March 24, 2022

MCKINNEY, TEXAS — De La Vega Capital and Development has unveiled plans for West Grove, a 600,000-square-foot mixed-use project being developed through a public-private partnership with the City of McKinney, located roughly 32 miles north of Dallas. Positioned at the southeast corner of U.S. Highway 380 and Custer Road, the 53-acre open-air development will include a mix of retail, restaurants and entertainment space anchored by Whole Foods Market; a 420-unit luxury residential complex; 55,000 square feet of office space; and a two-acre park. Architecture firm Gensler designed the project to promote outdoor gathering with open air paseos, outdoor decks, an experiential indoor/outdoor restaurant and entertainment space, and a central lawn that will feature live music, family movie nights and fitness classes year-round. “West Grove will be designed to bring people and a growing city together,” says Artemio De La Vega, president and CEO of De La Vega Capital. “A central green space and a mix of open-air, experience-driven retail and restaurant spaces will cultivate a sense of community, where visitors can connect meaningfully with each other and their natural environment.” A groundbreaking for the project is scheduled to take place during 2022. Dallas-based De La Vega Capital and Development is …

March 24, 2022

Development Florida Retail Southeast

MV Group to Redevelop Two Retail Centers in Downtown Miami Springs

by Julia Sanders March 23, 2022

MIAMI SPRINGS, FLA. — MV Group USA, a Miami-based full-service construction company, has plans to redevelop two retail centers in downtown Miami Springs. The redevelopments, which will exceed 30,000 square feet of retail space, are slated to be fully completed by the end of the year. The redevelopment projects include a modern redesign of the two retail centers, with the addition of new features such as outdoor seating and retail and restaurant spaces. The renovated retail spaces will feature some of the existing tenants that have renewed their long-term leases. Additionally, national restaurants will be joining the lineup starting fall 2022. MV Group has worked on other redevelopment projects including the development of Flagler Ponce Shops located at 3631 W. Flagler St. Other redevelopment projects the firm has completed include 4136 N. Miami Ave. and 9901 Bird Road.

March 23, 2022

California Development Loans Multifamily Western

Newmark Secures $284M Construction Financing for The Maxwell Apartments in San Jose

by Amy Works March 23, 2022

SAN JOSE, CALIF. — Newmark, on behalf of Bay West Development and Forum Real Estate Group, has arranged $284 million in construction financing for the development of The Maxwell, an apartment community situated on 4.5 acres in San Jose. Construction is slated to commence before the end of March and the first phase is scheduled for delivery by third-quarter 2024. Located within the South Bascom Urban Village Plan and approved under the City of San Jose’s Signature Project process, The Maxwell will feature 590 apartments and best-in-class amenities and unit interiors, as well as direct access to the VTA Light Rail Bascom Station.

March 23, 2022

Development Industrial Washington Western

Duke Realty Plans 261,362 SF Spec Industrial Project in Kent, Washington

by Amy Works March 23, 2022

KENT, WASH. — The Seattle office of Duke Realty has started the development of a speculative industrial property at 7409 S. 202nd St. in Kent. Duke Realty purchased the 12.2-acre site in February 2021. The 261,362-square-foot property will feature 40-foot clear heights, 26 dock doors, 34 trailer stalls and parking for more than 260 cars. The facility will have access to Highway 167, as well as interstates 405 and 5. Completion is slated for early 2023. Matt Wood of KBC Advisors and Jim Kidder and Nick Ramirez of Kidder Mathews will be listing agents for the development.

March 23, 2022

Civic Development Healthcare Texas

TCU to Open 100,000 SF Medical Education Building in Fort Worth

by Taylor Williams March 23, 2022

FORT WORTH, TEXAS — The Texas Christian University (TCU) School of Medicine will open a 100,000-square-foot building within Fort Worth’s Near Southside District. Designed by CO Architects and Hoefer Welker, the project represents the first phase of development of a new campus that will serve as an academic hub for some 240 medical students, as well as faculty and staff. TCU launched its medical school program in 2019 with an initial enrollment of 60 students. Construction of the four-story building is set to begin later this year and to be complete in advance of the fall 2024 semester

March 23, 2022

Development Multifamily New Jersey Northeast Seniors Housing

Thrive Nears Completion of 203-Unit Seniors Housing Community in Montvale, New Jersey

by Taylor Williams March 23, 2022

MONTVALE, N.J. — Thrive Senior Living is nearing completion of Thrive at Montvale, a 203-unit seniors housing community in the DePiero’s Farm neighborhood near the New York-New Jersey border. Located just off the Garden State Parkway, the three-story community will offer independent living and assisted living services, plus a small-house model senior living environment focused on memory care. The welcome center is currently open, and residents are scheduled to begin moving in this spring.

March 23, 2022

Affordable Housing Development Multifamily New Jersey Northeast

Walters Underway on 150-Unit Affordable Housing Project in Branchburg, New Jersey

by Taylor Williams March 23, 2022

BRANCHBURG, N.J. — New Jersey-based multifamily developer Walters is underway on construction on Cornerstone at Branchburg, an affordable housing community that will be located about 50 miles west of Manhattan. Rental rates vary based on income, with priority given to renters earning 60 percent or less of the area median income. The property comprises two three-story buildings on an 11.7-acre site. Units come in one- and two-bedroom floor plans with an average size of about 800 square feet. Full completion is slated for next spring.

March 23, 2022

Affordable Housing Development Midwest Multifamily Ohio

Woda Cooper Breaks Ground on 60-Unit Affordable Housing Community in Columbus

by Kristin Harlow March 22, 2022

COLUMBUS, OHIO — Woda Cooper Cos. Inc. has broken ground on Lockbourne Greene, a 60-unit affordable housing community in Columbus. Completion is slated for mid-2023. Woda Cooper is building the $15.8 million project with co-developer Healthy Homes, which is affiliated with Community Development for All People (CD4AP) and Nationwide Children’s Hospital. The project is the transformation of a vacant and blighted Columbus Land Bank property. The three-story building will feature 12 one-bedroom units, 40 two-bedroom units and eight three-bedroom units. All of the units will be designated for residents who earn 40 to 80 percent of the area median income. Monthly rents are expected to range from $669 to $999, depending on the income category and size of the apartment. Lockbourne Greene will feature an onsite management office, fitness center and community room. SproutFive will operate an early learning center at the property for children ages 6 months to 5 years old. Residents will also have access to supportive services coordinated by CD4AP. A new $15 million Affordable Housing Linked Deposit Pilot Program from Franklin County supports funding for Lockbourne Greene at no out-of-pocket cost to taxpayers. The program places funds into an interest-yielding investment at three private banks — …

March 22, 2022

Development Hospitality Loans South Carolina Southeast

Newmark Secures $53M Construction Loan for Hotel Development in Johns Island, South Carolina

by Julia Sanders March 22, 2022

JOHNS ISLAND, S.C. — Newmark has secured a $53 million construction loan for The Dunlin, Auberge Resorts Collection at Kiawah River, a 72-room hotel project in Johns Island. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the loan through United Bank on behalf of the borrower, Kiawah River Hospitality Group. Construction on the project is slated for completion by 2024. The Dunlin is located within the Kiawah River master-planned residential resort community. The project will be situated along the 12-mile riverfront, offering 2,000 acres of nature trails and marshlands. The hotel will feature a branded restaurant and lounge and over 10,000 square feet of event space, including a 5,200-square-foot wedding hall. Resort amenities will include a pool with cabanas, full-service spa and a riverfront swim and fitness facility. The Dunlin will be the newest addition to the Auberge Resorts Collection’s portfolio of luxury hotels, resorts and residences.

March 22, 2022

Development Multifamily Retail Texas

Public-Private Partnership Breaks Ground on $90M Multifamily, Retail Project in Metro Austin

by Taylor Williams March 22, 2022

KYLE, TEXAS — A partnership between Central Southwest Texas Development and the Kyle Economic Development Department has broken ground on a $90 million multifamily and retail project in the southern Austin suburb. The project, which will be developed on two parcels totaling 38.5 acres, represents Phase II of Kyle Crossing. The north tract will house 16 buildings, nine of which will feature retail and restaurant uses for a minimum total commercial footprint of 18,000 square feet. The south tract will also comprise multifamily and retail space, with a minimum of 15,000 square feet of the latter use.

March 22, 2022

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