Development

Annex Group Underway on $23M Workforce Housing Community in Bloomington, Indiana

by Kristin Harlow January 14, 2022

BLOOMINGTON, IND. — The Annex Group has closed on funding and started construction of The Annex of Bloomington, a $23 million workforce housing community in Bloomington. The 102-unit, two-building property will be situated within an area called the University Village Downtown Character Overlay District. Completion is slated for spring 2023. The project team includes general contractor Gilliatte General Contractors Inc., architect KTGY and engineer Smith Design Group Inc. Star Financial Bank provided $18.1 million in funding. Bloomington has a high population of renters, and the student population of Indiana University puts a strain on the market, according to Kyle Bach, CEO of Annex. Bach says this new project is in response to the need for housing in the area. A percentage of the units are restricted for residents earning below 120 percent of the area median income.

January 14, 2022

Development Multifamily Texas

Banyan Residential, Bridge Break Ground on 289-Unit Multifamily Project in Dallas

by Taylor Williams January 14, 2022

DALLAS — Los Angeles-based Banyan Residential, in partnership with Bridge Investment Group, has broken ground on Banyan Flats, a 289-unit multifamily project that will be located at 2022 N. Beckley Ave., just west of downtown Dallas. Floor plans will feature micro, studio, one-, two- and three-bedroom units ranging in size from 415 to 1,425 square feet. Amenities will include a pool, fitness center, clubhouse, dog wash and a rooftop deck. JHP Architecture is designing the project. J.P. Morgan provided construction financing for the project, which is slated for a 2023 completion.

January 14, 2022

California Development Retail Western

Progressive Real Estate Negotiates $1.7M Sale of Development Site in Hemet, California

by Amy Works January 14, 2022

HEMET, CALIF. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million. The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific plans have been released yet. Chris Lindholm of Progressive Real Estate Partners represented both parties in the transaction.

January 14, 2022

Build-to-Rent Development Single-Family Rental Texas

Taylor Morrison to Develop 240-Unit Single-Family Rental Community in Metro Houston

by Taylor Williams January 14, 2022

CYPRESS, TEXAS — Arizona-based homebuilder Taylor Morrison (NYSE: TMHC) will develop a 240-unit single-family rental (SFR) community in the northwestern Houston suburb of Cypress. Homes will come in one-, two- and three-bedroom formats and will range in size from approximately 750 to 1,250 square feet. Communal amenities will include a pool, fitness center, event lawn and a dog park. Christopher Todd Communities will operate and manage the property. Initial occupancy is slated for late 2023.

January 14, 2022

Development Multifamily New York Northeast

Grubb Properties to Develop 173-Unit Multifamily Project in Hempstead, New York

by Taylor Williams January 14, 2022

HEMPSTEAD, N.Y. — Charlotte, N.C.-based Grubb Properties, in partnership with First Street Capital, will develop a 173-unit multifamily project within a Qualified Opportunity Zone in the Long Island community of Hempstead. Grubb Properties will operate the community, which will include 2,500 square feet of commercial space, under its Link brand. About 10 percent (17) of the units will be designated as affordable housing. Construction is scheduled to begin in the third quarter, and initial occupancy is slated for the third quarter of 2024. Grubb Properties is also underway on Link-branded projects in Manhattan’s Financial District and in the Long Island City area of Queens.

January 14, 2022

Development Illinois Midwest Multifamily

McHugh Construction Underway on Platform 4611 Apartment Project in Chicago

by Kristin Harlow January 13, 2022

CHICAGO — McHugh Construction has started building Platform 4611, a nine-story apartment building in Chicago’s Uptown neighborhood. The project includes 200 units and 9,000 square feet of ground-floor retail space. The developers are The John Buck Co. and Free Market Ventures. Pappageorge Haymes Partners is the architect. Levels two through eight will include a mix of studio, one- and two-bedroom units, while the top floor will include four three-bedroom penthouse units and a host of building amenities. Plans call for touchless entry, reservable office space on each floor, a fitness center and a rooftop amenity floor with coworking space and an outdoor terrace. Completion is slated for late 2022 or early 2023. The name Platform 4611 is a nod to the project’s transit-oriented nature. The Wilson Chicago Transit Authority (CTA) train station is located across the street.

January 13, 2022

Development Healthcare Illinois Midwest

IMPACT Strategies Completes Construction of Three-Story Medical Office Building in O’Fallon, Illinois

by Kristin Harlow January 13, 2022

O’FALLON, ILL. — IMPACT Strategies has completed construction of the 50 West Office Building in O’Fallon, about 18 miles east of St. Louis. The three-story building, located near the HSHS St. Elizabeth’s Hospital campus, will house the practice of Dr. Joshua Wilson of Advanced Vision Care as well as SSM Physical Therapy. TR,i Architects designed the 36,000-square-foot property. Construction took less than 12 months.

January 13, 2022

Development Florida Retail Southeast

St. Joe Co. Breaks Ground on 350,000 SF Shopping Center in Panama City Beach, Florida

by Julia Sanders January 13, 2022

PANAMA CITY BEACH, FLA. — St. Joe Co. has broken ground on Watersound West Bay Center, a 350,000-square-foot shopping center development located on an approximately 110-acre site in Panama City Beach. The project will include a mix of retail, restaurant, office and medical space. Site work on Watersound West Bay Center is underway, with vertical construction slated to begin in the fall. St. Joe Co. plans to build the project to feature golf cart and pedestrian connectivity. Other plans include mixed-use buildings with first floor shopping and dining options and second floor office space, as well as a grocery store and pharmacy. Located near the intersection of State Road 79 and West Bay Parkway, Watersound West Bay Center is situated adjacent to the Latitude Margaritaville Watersound community, an active adult community that at full buildout will comprise 3,500 homes.

January 13, 2022

Development Retail South Carolina Southeast

Morgan Cos. to Develop 200,000 SF Shopping Center in Beaufort, South Carolina

by Julia Sanders January 13, 2022

BEAUFORT, S.C. — The Morgan Cos. has plans to develop Beaufort Station, a 200,000-square-foot shopping center in Beaufort. The firm acquired 31 acres for the project. The sales price and seller for the land were not disclosed. Construction is expected to start this quarter, with the project slated for completion by the fall of 2023. Beaufort Station will be located at the southwest corner of Robert Smalls Parkway and Parris Island Gateway. The shopping center development already had four anchor tenants sign leases: Hobby Lobby, Ross Dress for Less, Ulta Beauty and Old Navy. Zach Means of Divaris Real Estate Inc. represented The Morgan Cos. in the land transaction, and Mark Hall of Judge Realty represented the sellers.

January 13, 2022

Mountain-Creek-East-Logistics-Center-Dallas

Development Industrial Texas

Eider Creek, Crow Holdings Break Ground on 467,541 SF Spec Logistics Center in Dallas

by Taylor Williams January 13, 2022

DALLAS — A partnership between locally based development and investment firm Eider Creek Capital and a fund backed by Crow Holdings has broken ground on Mountain Creek East Logistics Center, a 467,541-square-foot speculative industrial project in southwest Dallas. Ricardo Quinones of Davidson Bogel Real Estate represented the development team in its acquisition of the four-parcel, 25-acre site on which the project will be developed. Completion is slated for August. CBRE has been tapped to lease the development.

January 13, 2022

Newer Posts

Older Posts