Development

McShane to Build 24-Unit Affordable Housing Community for Residents with Disabilities in Waukegan, Illinois

by Kristin Harlow March 4, 2022

WAUKEGAN, ILL. — Nonprofit developer Over the Rainbow (OTR) has selected McShane Construction Co. to build Kirwan Apartments, a 24-unit affordable housing community in Waukegan. The project is designed to enable adults with physical disabilities to live independently. The development is named for Leo Kirwan, an OTR board member and advocate for accessible housing. The three-story building will feature one-bedroom residences, and amenities will include a community room, laundry facilities and 20 parking spaces. Completion is slated for January 2023. Weese Langley Weese Architects is providing architectural services. OTR apartments are specifically designed for low-income individuals with physical disabilities and come with rental subsidies.

March 4, 2022

Development Industrial Texas

McCormack Commercial Breaks Ground on 1.3 MSF Industrial Project in Fort Worth

by Taylor Williams March 4, 2022

FORT WORTH, TEXAS — Houston-based developer McCormack Commercial has broken ground on Meacham Commerce Center, a 1.3 million-square-foot industrial project in Fort Worth. Meacham Commerce Center will consist of four buildings with cross-dock and rear-load configurations that will be situated on an 80-acre site on the city’s north side. The first building will span 334,750 square feet and will feature 36-foot clear heights and parking for 240 cars and 103 trailers. Completion of that building is slated for the third quarter. Holt Lunsford has been tapped as the leasing agent.

March 4, 2022

Development Industrial New Jersey Northeast

Lincoln Equities to Develop 332,640 SF Spec Industrial Project in Bayonne, New Jersey

by Taylor Williams March 4, 2022

BAYONNE, N.J. — Locally based developer Lincoln Equities Group will soon break ground on Lincoln Logistics Bayonne, a 332,640-square-foot speculative industrial project in Northern New Jersey. The facility will be situated on a 24-acre tract within a 153-acre waterfront site at which an 886,256-square-foot UPS shipping hub is currently under construction. Lincoln Logistics Bayonne will feature five acres of parking space that can support 195 trailers and 225 cars, or 45 trailers and 800 cars. Cushman & Wakefield is marketing the project for lease. Construction is expected to be complete by the end of the year.

March 4, 2022

Development Multifamily Washington Western

TWG Plans $50M Grata at Totem Lake Multifamily Community in Kirkland, Washington

by Amy Works March 4, 2022

KIRKLAND, WASH. — TWG has acquired a parcel at 12410 NE Totem Lake Way for the development of Grata at Totem Lake, an apartment property in Kirkland. Groundbreaking and construction are slated to start in the coming months, with completion scheduled for early 2024. The $50 million, seven-story project will feature 125 units ranging from studios to four-bedroom apartments. The development will reserve 88 apartments for residents earning up to 50 percent of the county’s area median income (AMI) and 37 apartments for those earning up to 60 percent AMI. The pet-friendly community will feature maximized ventilation systems, onsite parking, bicycle facilities and shared laundry facilities. Additionally, the property is within close proximity to a playground and a shopping center with a movie theater, Whole Foods Market, Trader Joe’s, eateries, a gym and high-capacity transit. The development will also be energy efficient with solar arrays on the building’s roofs, electric vehicle battery charging stations, specialized envelope systems to preserve energy use and green-rated appliances in units. The development is supported by the Evergreen Impact Housing Fund – housed at Seattle Foundation – which received a $50 million investment from Microsoft last year.

March 4, 2022

California Development Multifamily Western

Dinerstein Cos. Divests of 262-Unit Millennium Gardena Multifamily Development Site in Hawthorne, California

by Amy Works March 3, 2022

HAWTHORNE, CALIF. — The Dinerstein Cos. has completed the disposition of Millennium Gardena, a fully entitled multifamily development site at 12850 Crenshaw Blvd. in the South Bay neighborhood of Hawthorne. A joint venture between Cityview and Stockbridge acquired the property for an undisclosed price. The sustainability-focused multifamily building planned for the site will be called South Bay X and feature 262 studio, one- and two-bedroom units ranging from 510 square feet to 1,197 square feet. Construction is slated to begin in fourth-quarter 2022 with a targeted delivery of early 2025. Sustainable features planned for the property include LEED Silver certification, high-performing lighting, enhanced indoor air quality and a renewable-energy-powered solar thermal water heating system. Building amenities will include a state-of-the-art fitness center, resort-style pool, spa, lanai, outdoor strength area, barbecues and open-air courtyards. Chris Benton, Anthony Muhlstein, Kevin Shannon and Ken White of Newmark represented the seller in the transaction.

March 3, 2022

Development Office Texas

Granite Properties Breaks Ground on 143,500 SF Office Project in Southlake, Texas

by Taylor Williams March 3, 2022

SOUTHLAKE, TEXAS — Granite Properties has broken ground on the second phase of Granite Place at Southlake Town Square, a project that will add 143,500 square feet of office space to the supply of Tarrant County. Designed by Corgan Associates, the five-story building will complement Granite Place I, which was completed in 2017 and is now fully leased. Granite Place II will feature a touchless path from the parking garage to the office, as well as touch-free entry doors and bathroom fixtures and clean air technology in the HVAC system. Additional amenities will include outdoor working and meeting space, a corporate living room, fitness center and grab-and-go food service. DPR Construction is the general contractor for the project, completion of which is slated for February 2023.

March 3, 2022

Development Florida Multifamily Southeast

Summit Contracting Breaks Ground on 256-Unit Apartment Community in Palmetto, Florida

by Julia Sanders March 3, 2022

PALMETTO, FLA. — Summit Contracting Group has broken ground on Trevesta Place, a 256-unit apartment community located within the master-planned Trevesta Community in Palmetto. The project team includes Terwilliger Brothers Residential LLC as the developer, Group 4 Architectural Services LLC as the architect and Morris Engineering and Consulting LLC as the civil engineer. Construction is now underway with the first units available for lease in January 2023. The project will be fully completed in the summer of 2023. Trevesta Place Apartments will include one-, two- and three-bedroom floorplans, ranging in size from 770 to 1,248 square feet. All units will be fashioned with modern finishes like granite countertops, tile backsplashes, washer and dryer and plenty of closet space. Community amenities will include a central clubhouse with fitness center and lounge areas, swimming pool, garages and a dog walk park.

March 3, 2022

Development Life Sciences New York Northeast

Janus Property Co. Completes $700M Life Sciences Project in Harlem

by Taylor Williams March 3, 2022

NEW YORK CITY — Locally based developer Janus Property Co., in partnership with J.P. Morgan Asset Management, has completed the Taystee Lab Building, a $700 million life sciences project in Harlem. The 11-story, 350,000-square-foot building anchors the Manhattanville Factory District, Janus Property’s 1 million-square-foot life sciences campus that stretches from West 125th to West 128th streets. The property, which is a redevelopment of the former Taystee bread bakery, features traditional office, lab, manufacturing and retail space, as well as 20,000 square feet of outdoor amenity space. Construction began in May 2019.

March 3, 2022

Development Mixed-Use Northeast Pennsylvania

Tishman Speyer to Undertake 178-Acre Mixed-Use Redevelopment in Pittsburgh

by Taylor Williams March 3, 2022

PITTSBURGH — New York City-based developer Tishman Speyer will undertake a project to redevelop a 178-acre former steel mill site in Pittsburgh into a mixed-use destination that will be branded Hazelwood Green. Tishman Speyer will redevelop the site in partnership with a joint venture between the Richard King Mellon Foundation, The Heinz Endowments and the Claude Worthington Benedum Foundation. Preliminary plans call for millions of square feet of residential and commercial development to be delivered over the next decade. These uses will include market-rate and affordable apartments, retail and restaurant space, parks and open green space and office and life sciences facilities. Regarding the latter component, Tishman Speyer is partnering with Carnegie Mellon University to develop a robotics innovation center that is expected to open in 2024.

March 3, 2022

Valley-National-Bank-Morristown-New-Jersey

Development New Jersey Northeast Office

SJP, Scotto Underway on 120,000 SF Headquarters Project for Valley National Bank in Morristown, New Jersey

by Taylor Williams March 3, 2022

MORRISTOWN, N.J. — A partnership between New York City-based SJP Properties and locally based developer Scotto Properties is underway on a new headquarters project for Valley National Bank in the Northern New Jersey community of Morristown. The development team has commenced demolition work of the existing structures on the site, and vertical construction will begin later this spring. Upon completion, which is slated for May 2023, Valley National Bank will relocate from Wayne, N.J. The company ultimately plans to employ about 660 people at its new campus, which will also house 14,500 square feet of retail space. Gensler designed the project.

March 3, 2022

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