CHARLOTTE, N.C. — Rosemont, Ill.-based McShane Construction Co. has plans to build a 397-unit apartment community in Charlotte’s University submarket. Dynamik Design is the project’s architect, and Flournoy Development Group is the developer. The project is slated for completion by January 2024. The project’s name was not disclosed. The multifamily development will include five apartment buildings and 10 townhome-style buildings. Unit features will include vinyl plank flooring, quartz countertops and black fixtures and hardware. Additionally, 10 of the units will include a downstairs workspace for tenants to use as an office or small storefront. Community amenities will include a clubroom, fitness center, yoga studio, coworking lounge, hobby room, bike storage, kitchen, heated pool, courtyard, green space and a market. Located on 24.6 acres at 930 W. Mallard Creek Church Road, the project is situated within two miles from the University of North Carolina at Charlotte and 5.8 miles from Charlotte Motor Speedway.
CYPRESS, TEXAS — Locally based developer D’Agostino Cos. has broken ground on Reserve at Cypress, a 300-unit multifamily project located on the northwestern outskirts of Houston. The community will feature one-, two- and three-bedroom units that will average 972 square feet and will be furnished with stainless steel appliances, stone countertops, tile backsplashes and individual washers and dryers. Amenities will include a pool, outdoor dining and entertainment areas and a fitness center. Austin-based OHT Partners is the general contractor for the project, which is slated for a January 2023 completion. Chris Bergmann Jr. of JLL represented the developer in its acquisition of the land, which occurred last June.
HUNTINGTON STATION, N.Y. — Federal Realty Investment Trust (NYSE: FRT) will undertake a $75 million redevelopment of Huntington Shopping Center, a 21-acre shopping center in the Long Island community of Huntington Station. Enhancements to the center will include updated facades; reconstructed parking lots; new landscaping and walkways; the development of two pad sites; and the addition of outdoor seating areas. In addition, Whole Foods Market will open a new store as part of the redevelopment. The center currently houses tenants such as PetSmart, Ulta Beauty and Michaels, all of which will remain open during construction. The site will span 277,000 square feet upon completion of the redevelopment, which is slated for 2024.
ST. LOUIS — Green Street Real Estate Ventures and its affiliate companies have moved into a new headquarters located at 4565 McRee Ave. in The Grove neighborhood of St. Louis. The move combines six companies and 80 employees under one roof to include Green Street, Green Street Building Group, Green Street Property Management, Emerald Capital Strategic Advisors, HDA and O’Toole Design Associates. Designed by HDA with interiors done by O’Toole, the building spans 46,000 square feet. Green Street’s new headquarters is part of a $21 million mixed-use development that includes the first St. Louis location of Bar K, a dog park and bar.
TAMPA, FLA. — Austin, Texas-based Aspen Heights Partners has broken ground on Aspen Heights Tampa, a 67-unit, cottage-style student housing development located in Tampa near the University of South Florida. The community is scheduled for completion by this fall. Located by Cove Bend and Bruce B Downs Boulevard, Aspen Heights Tampa will include cottage- and townhome-style units across two- and three-story buildings. Unit features will include high-end finishes, stainless steel appliances and in-unit washers and dryers. Community amenities will include a fitness center, resort-style swimming pool, computer and study center, resident lounge, business center and 315 parking spots.
DAVENPORT, IOWA — Developer TWG has broken ground on Federal Point, a $39 million workforce housing property in Davenport. The project will rise four stories with 185 units, all of which will be reserved for renters earning up to 60 percent of the area median income. The property will be situated west of the new R. Richard Bittner YMCA. Amenities will include a fitness room, outdoor patio and bike storage. Completion is slated for December 2023.
AURORA, COLO. — Hilco Real Estate has arranged the acquisition of approximately 134 acres of vacant development land located at the southeast corner of East 64th Avenue and Piccadilly Road in Aurora. Hilltop at DIA purchased the property, which is just south of Denver International Airport, for $18.1 million. The asset was acquired through a bankruptcy sale. Hilltop at DIA plans to develop a master-planned community, dubbed Avelon, on the site. The community would include hospitality, residential and commercial space, as well as single-family residences and greenspace.
HOUSTON — Miami-based balance sheet lender 3650 REIT has provided a $60.5 million construction loan for The Vic on Park Row, a 363-unit multifamily project that will be located in Houston’s Energy Corridor neighborhood. Amenities will include a game room, entertainment area, business center, conference room, fitness center and a bowling alley, as well as an outdoor recreational area with a pool, dog park and playground. The developer and borrower is locally based firm Hunington Properties. A tentative completion date was not released.
ARLINGTON, VA. — JBG Smith (NYSE: JBGS), an owner and developer of mixed-use properties in the greater Washington, D.C. market, has begun construction on a pair of multifamily towers at 2000 and 2001 South Bell Street in Arlington. The development is expected to bring 775 apartments and nearly 27,000 square feet of retail space to National Landing, a neighborhood anchored by Amazon’s HQ2 campus and the Virginia Tech Innovation Campus, both of which JBG Smith is developing. “The start of construction at 2000 and 2001 South Bell Street is a major milestone in National Landing’s ongoing transformation and delivers on our pledge to build new housing in lockstep with Amazon and Virginia Tech’s growth in the neighborhood,” says Bryan Moll, executive vice president of development at JBG Smith. KPF designed 2000 South Bell Street to be a modern, 25-story glass tower with 355 multifamily units situated above approximately 15,000 square feet of street-level retail space. The adjacent 2001 South Bell Street was designed by Studios to be a 420-unit, 19-story tower with a green-glazed brick façade and approximately 10,000 square feet of street-level retail space. SK+I will serve as the architect of record for both towers, which are designed to …
NEW YORK CITY — Locally based investment firm Emmut Properties has acquired the 126-room Excelsior Hotel, located at 45 W. 81st St. in Manhattan, for $80 million. The new ownership plans to convert the property, which was built in the 1920s but has been closed since April 2020, into a 134-unit multifamily building. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia arranged acquisition financing through Franklin BSP Realty Trust for the deal.