MCKINNEY, TEXAS — EastGroup Properties has broken ground on Phase I of McKinney 121, a 212,200-square-foot industrial project that will be located on the northern outskirts of Dallas. The site, which offers proximity to State Highway 121, can support an additional 168,800 square feet of new development. Completion of the two-building Phase I is slated for summer 2022. Lee & Associates is leasing the project.
ONTELAUNEE, PA. — Crow Holdings Industrial will develop Route 61 Logistics Center, a 652,080-square-foot industrial project in Ontelaunee, located near Reading in the southern part of the state. The property will feature a clear height of 40 feet, 484 car parking spots, 182 trailer parking stalls and 124 loading docks. Crow Holdings acquired the nearly 60-acre site from the economic development arm of the Greater Reading Chamber Alliance (GRCA), which purchased the land in 2019 and subsequently rezoned it for industrial use. Construction will begin before the end of the year. JLL is marketing the property for lease. The project is Crow Holdings’ first in the Lehigh Valley.
CHICAGO — Structured Development has broken ground on the first two residential buildings at The Shops at Big Deahl, a mixed-use development in Chicago’s Lincoln Park neighborhood. The Seng is a four-story, 34-unit affordable condo building whose income-restricted buyers will be selected by the Chicago Community Land Trust, a nonprofit corporation administered and staffed by the Chicago Department of Housing. Completion of The Seng is slated for December 2022. Common Lincoln Park is a 10-story, 400-bed co-living community that will be operated by New York-based co-living provider Common. Completion of Common Lincoln Park is slated for March 2023. Each unit will feature one to four bedrooms that will be furnished along with a communal kitchen and living area. Co-living refers to a type of communal living where residents have their own private bedrooms but share common areas with others. Both buildings will join the newly completed Movement Lincoln Park, a 40,000-square-foot climbing, yoga and fitness gym. Structured also plans to build an additional 327-unit market-rate apartment tower on the western end of the property. The groundbreaking for the 27-story project is scheduled for March 2022. The Shops at Big Deahl is named after the former Big Deahl Productions studio that …
WOODBURY, MINN. — A joint venture between PCCP and Watermark Cos. has unveiled plans to develop Canvas at Woodbury North, an 89-unit build-for-rent (BFR) community in Woodbury near St. Paul. The development team plans to deliver the first homes in fall 2022, with final completion slated for fall 2023. The project marks the joint venture’s second BFR community on the east side of the Twin Cities. The unit mix will consist of two-, three-, four and five-bedroom floorplans ranging from 1,200 to 2,966 square feet. All homes will feature washers and dryers, two-car garages, backyards, smart home technology, pet retreats and package drop-off boxes. Residents will have access to a clubhouse, fitness center, pool and dog park.
GEORGETOWN, TEXAS — Dallas-based Green Point Property Co. will develop GTX Logistics Park, an industrial project in the northern Austin suburb of Georgetown that will ultimately consist of roughly 3 million square feet of space on a 231-acre site. Phase I of the project will center on a 409,822-square-foot warehouse that will have 36-foot clear heights, 66 dock doors and 2,500 square feet of office space. Completion of this building, which will be located within a Qualified Opportunity Zone, is slated for the third quarter of 2022. Colliers has been tapped to lease GTX Logistics Park. Clint Coe, Chris McColpin and Dom Espinosa of JLL arranged construction financing through Community Bank of Texas on behalf of Green Point.
GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located roughly midway between Dallas and Fort Worth, and North Carolina-based operator Concord Hospitality have broken ground on two hotels totaling 276 rooms. The Hilton Garden Inn will total 129 rooms and will offer a restaurant, pool, fitness center and business services. The Homewood Suites will consist of 147 suites with full kitchens and multiple formats, as well as two restaurants and a convention center with a 10,000 square-foot ballroom that connects to the hotel. Merriman Anderson designed the hotels, both of which are located within the 170-acre EpicCentral mixed-use development and will connect to the existing development via walkways and two pedestrian bridges. The openings are scheduled for 2023.
DENTON, TEXAS — Christopher Todd Communities will develop a 316-unit single-family rental community in Denton. Homes will come in one-, two- and three-bedroom formats and will range in size from 750 to 1,250 square feet. Amenities will include a pool, fitness center and a dog park. David Davidson Jr., Edward Bogel and Ryan Turner of Davidson & Bogel Real Estate brokered the sale of the land. Construction is scheduled to begin in the second quarter, with the first move-ins slated for late 2023.
UPPER MACUNGIE, PA. — Kushner Real Estate Group (KRE) and The Silverman Group have begun leasing a 273-unit apartment community in the Lehigh Valley community of Upper Macungie. Lehigh Hills features one- and two-bedroom units that are furnished with granite countertops, stainless steel appliances and individual washers and dryers. Amenities include a pool, outdoor grilling and picnic areas, fitness center with a yoga studio, conference room, lounge areas, package lockers, tot lot and a dog park. Rents start at $1,975 per month for a one-bedroom apartment. Move-ins are scheduled to begin in January.
BUCKEYE, ARIZ. — Shopoff Realty Investments and Contour Real Estate have acquired 54 acres of land in Buckeye for the development of two warehouse logistics-oriented buildings. Terms of the transaction were not released. Located at the southeast corner of Southern Avenue and Rainbow Road, the proposed development will feature 900,000 square feet of warehouse space. Additionally, the property is located immediately adjacent to the Union Pacific rail line.
ATLANTA — New York City-based The Georgetown Co. and affiliates of Atlanta-based RocaPoint Partners plan to co-develop Campus 244, a mixed-use development in Atlanta’s Central Perimeter submarket that will exceed 1 million square feet in size. Situated on 12.8 acres near the Dunwoody MARTA station, the first phase of Campus 244 will include an adaptive reuse of an existing office building into a five-story, 400,000-square-foot building. The office building formerly was the headquarters of Gold Kist, a chicken producing company. Building features include 15-foot ceilings, private outdoor terraces, balcony space and 90,000-square-foot floor plates. Additionally, the building has amenities focused on health and wellness, such as HVAC systems, touchless elevator and restroom technologies, open staircases and operable windows. In addition to the adaptive reuse office building, the first phase will include a 145-room Element Hotel, which is part of Marriott International’s Bonvoy portfolio of 30 brands. The hotel will feature a lobby bar, greenspace and areas to gather for meetings, remote work and collaboration. The Campus 244 property will also have 25,000 square feet of restaurant space. S9 Architecture, the architectural firm responsible for the adaptive reuse design of Ponce City Market in Atlanta’s Old Fourth Ward district, will handle …
