Development

Trailhead-at-Chisholm-Trail-Ranch-Fort-Worth

Titan Development, Aberg Property Break Ground on $63M Multifamily Project in Fort Worth

by Taylor Williams June 1, 2022

FORT WORTH, TEXAS — A partnership between Titan Development and Dallas-based investment firm Aberg Property Co. has broken ground on The Trailhead at Chisholm Trail Ranch, a $63 million multifamily project in Fort Worth. The 284-unit development will be situated within the 625-acre Chisholm Trail Ranch master-planned community. Units will be spread across seven buildings and will be available in studio, one-, two- and three-bedroom formats. Amenities will include a pool, dog park and a pickleball court. HEDK Architects is designing the project, and Links Construction LLC is the general contractor. Completion is slated for the first quarter of 2025.

June 1, 2022

Development Multifamily Seniors Housing Texas

Anthology Senior Living Plans 130-Unit Community in North Austin

by Taylor Williams June 1, 2022

AUSTIN, TEXAS — Anthology Senior Living has announced plans to develop a 130-unit seniors housing community in North Austin. Anthology of The Arboretum will span 131,000 square feet and offer assisted living and memory care options. Units will be available in studio, one- and two-bedroom formats. Cadence McShane is the general contractor for the project, which is scheduled for completion in spring 2023.

June 1, 2022

Affordable Housing Development Indiana Midwest Multifamily Seniors Housing

Evergreen Real Estate Group Breaks Ground on 120-Unit Assisted Living Community in Indiana

by Kristin Harlow June 1, 2022

VALPARAISO, IND. — Chicago-based Evergreen Real Estate Group has broken ground on Green Oaks of Valparaiso, a 120-unit assisted living community for low-income seniors in Valparaiso, a city in northwest Indiana. The $30 million, three-story project is slated for completion in April 2023. All of the units will be reserved for seniors age 62 or older with incomes at or below 60 percent of the area median income. Gardant Management Solutions will manage the community. Amenities will include a community room, media room, fitness center, salon, library, community garden and outdoor pool. The dining room will serve residents three meals per day as well as a rotating assortment of snacks. The Indiana Housing and Community Development Authority authorized 4 percent low-income housing tax credits (LIHTC) in support of the project. Additionally, the City of Valparaiso issued tax-exempt bonds, which were sold by PiperSandler and provided debt financing. PNC Bank also invested in the project, providing LIHTC equity.

June 1, 2022

Development Illinois Industrial Midwest

Principle Construction to Build 39,000 SF Spec Warehouse in Alsip, Illinois

by Kristin Harlow June 1, 2022

ALSIP, ILL. — Logistics company Alsip Terminals has selected Principle Construction Corp. to build a 39,000-square-foot speculative warehouse in Alsip. Construction is expected to begin soon on the property, which will be located at 3600 W. 127th St. The project will feature a clear height of 26 feet, 32 dock doors, six drive-in doors, 111 trailer parking spaces and 40 car parking stalls. The property will be surrounded by a 6-foot-high security fence. Harris Architects is the architect. Chris Mergethaler and Rick Daly of Darwin Realty/CORFAC International will market the project for lease. Completion is slated for December.

June 1, 2022

Development Hospitality Oregon Western

Mahesh Enterprises Purchases Land Site in Astoria, Oregon for Hotel Development

by Amy Works June 1, 2022

ASTORIA, ORE. — Mahesh Enterprises has acquired a 1.3-acre, 57,064-square-foot land parcel located at 176 W. Marine Drive in Astoria. An undisclosed seller sold the site for $1.2 million. The buyer plans to develop a boutique hotel on the parcel, which is on the Columbia River and the Riverwalk that connects to the Port of Astoria. Charles Conrow of Portland-based Norris & Stevens represented the buyer, while Mark Carnese of Cushman & Wakefield represented the seller in the deal.

June 1, 2022

Development Industrial New York Northeast

Venture One to Develop 121,270 SF Industrial Facility in Islip, New York

by Taylor Williams June 1, 2022

ISLIP, N.Y. — Chicago-based Venture One will develop a 121,270-square-foot industrial facility in the Long Island community of Islip. The site spans 9.7 acres. Building features will include a clear height of 36 feet, 130-foot truck court depths, 131 car parking spaces and 119 trailer parking stalls. Construction is scheduled to begin in the third quarter and to last about a year. Cushman & Wakefield will be responsible for lease-up of the development.

June 1, 2022

California Development Industrial Life Sciences Western

Presidio Bay Ventures Breaks Ground on 147,000 SF Life Sciences Project in San Carlos, California

by Amy Works May 31, 2022

SAN CARLOS, CALIF. — Presidio Bay Ventures has broken ground on a Class A life sciences and R&D development located at 777 Industrial Road in San Carlos. The existing 45,000-square-foot dealership building will be fully redeveloped into a four-story, 147,000-square-foot, state-of-the-art facility. Stanton Architecture and DES Architects & Engineers designed the building, which will be tailored toward research and development users with a heavy lab component. Potential tenants include companies working in life sciences, biotech, food tech, agricultural tech, auto tech, drone tech, robotics, and other users requiring mission-critical infrastructure. Building amenities will include e-bikes, outdoor workspaces equipped with Wi-Fi and an onsite fitness center. Approved in June 2021, the project is slated for completion in fourth-quarter 2023. Marc Pope and Ben Paul of Cushman & Wakefield are handling leasing for the building.

May 31, 2022

Development Loans Maryland Mixed-Use Multifamily Retail Southeast

UIP Plans $112M Canvas Mixed-Use Project in Hyattsville, Maryland

by John Nelson May 31, 2022

HYATTSVILLE, MD. — Urban Investment Partners Inc. (UIP) has secured debt and equity financing for Canvas, a $112 million mixed-use development in downtown Hyattsville. The six-story project will be located at 5300 Baltimore Ave. and feature 285 one- and two-bedroom apartments, 31,660 square feet of ground-floor retail space and 681 parking spaces. Washington, D.C.-based UIP is financing the project using $27.1 million in equity, including $19.1 million from crowd-sourced capital raised on CrowdStreet from 422 individual investors. Other financing sources included a $42.3 million loan from Parkview Financial and $42.8 million in proceeds from a land sale-leaseback agreement with Safehold. Torti Gallas + Partners designed Canvas, which is expected to begin initial occupancy in the fourth quarter of 2023.

May 31, 2022

Development Georgia Loans Multifamily Southeast

JLL Arranges Financing for 31-Story 1405 Spring Apartment Project in Midtown Atlanta

by John Nelson May 31, 2022

ATLANTA — JLL Capital Markets has arranged construction financing for 1405 Spring, a 326-unit high-rise apartment tower in Midtown Atlanta. Ed Coco, Matt Casey and Kelsey Bawcombe of JLL arranged the full capital stack for the project through Manulife Investment Management on behalf of the developer, a joint venture between JPX Works and Zeller. The 31-story 1405 Spring will offer studio, one-, two- and three-bedroom units, as well as luxury penthouses. The building’s 21 residential levels will sit atop a ground-level lobby, eight-level parking garage and amenities. Features will include multiple indoor lounge areas, coworking spaces, a fitness center, yoga and meditation studio, pool, sundeck and covered outdoor lounge with firepits. 1405 Spring will be situated at the southeast corner of 18th and Spring streets, just blocks from the Arts Center MARTA station. The neighborhood is home to the Woodruff Arts Center, MODA and the Center for Puppetry Arts. The high-rise will replace a vacant, single-level commercial building that most recently served as The John Marshall Law School’s Blackburn Conference Center.

May 31, 2022

Development Industrial Iowa Midwest

Cold-Link Logistics Breaks Ground on 185,000 SF Cold Storage Facility in Sioux City, Iowa

by Kristin Harlow May 31, 2022

SIOUX CITY, IOWA — Cold-Link Logistics, a Miami, Florida-based cold storage warehousing firm, has broken ground on a 185,000-square-foot cold storage facility in Sioux City’s Southbridge Business Park. The project represents the first phase of development and a capital investment of nearly $60 million. Future phases of the project will more than triple the size of the building, according to Cold-Link. Completion is slated for early 2023.

May 31, 2022

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