Development

Mosaic-South-Orange-New-Jersey

SOUTH ORANGE, N.J. — New Jersey-based developer Mark Built Homes has completed Mosaic South Orange, a 42-unit multifamily project located about 20 miles west of New York City. Units come in one-, two- and three-bedroom floor plans and range in size from 790 to 1,665 square feet. Residences are furnished with quartz countertops, custom cabinetry, full-size washers and dryers and smart technology, and select residences have private balconies and patios. Amenities include a rooftop deck and clubroom with lounge seating, a fitness center, coworking lounge and indoor and outdoor social spaces. Rents start at $2,995 per month for a one-bedroom apartment.

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CHICAGO — Chicago Fire FC has released renderings and further details for its $650 million soccer-specific stadium in downtown Chicago. The development, announced earlier this month, will be privately financed by the club’s owner and chairman, Joe Mansueto. The stadium will anchor The 78, Related Midwest’s 62-acre project located along the Chicago River just south of Roosevelt Road. Designed by Gensler in “Chicago School” fashion, the new stadium will seat approximately 22,000 fans. The bowl is designed to prioritize the match viewing experience with seating positions that are lower and closer to the action. There will be 50 suites, more than 500 Loge seats and 3,500 Club seats. An exposed steel canopy over the seating bowl will direct light and crowd noise back to the pitch, creating an environment that enhances the Fire’s home-field advantage. A dedicated supporter section will be built at the core of the stadium for the most passionate fans. The section is purpose-built to be loud with room for approximately 2,000 fans on safe-standing bleachers. In addition to Fire matches, the stadium can host a variety of other sports and entertainment events such as international soccer matches, rugby matches, concerts, festivals, live performances, charity events, trade …

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PINGREE GROVE, ILL. — Freight Union Inc. will build a 61,858-square-foot maintenance facility with 30 repair bays, two docks and 238 trailer positions in Pingree Grove, a far northwest suburb of Chicago. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Freight Union in the transaction, which marks the second build-to-suit project the Entre team has completed for the tenant. Freight Union built its first facility in Hampshire, Ill., in 2023. The project in Pingree Grove will serve as Freight Union’s new corporate headquarters. Entre procured the development by assembling 11 acres in four separate transactions and obtaining use approval for transportation, truck maintenance and trailer parking.

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PRINCETON, N.J. — New Jersey-based owner-operator Garden Communities has begun leasing Phase I of Lofts at Princeton, a 154-unit apartment complex in Central New Jersey. Phase I features one-, two- and three-bedroom units with a maximum size of 1,620 square feet. Lofts at Princeton will ultimately consist of 656 duplex and loft-style units that will be developed across three phases and amenities such as a pool, outdoor lounge with grilling stations, pocket parks, an entertainment/game room, children’s playroom and a package handling center. Rents start at $2,400 per month for a one-bedroom apartment.

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The-Estates-at-Short-Hills

SHORT HILLS, N.J. — The Silverman Group, a New Jersey-based developer, has broken ground on The Estates at Short Hills, a 62-unit multifamily project in Northern New Jersey. Designed by Michels & Waldron Associates, the property will feature 10 one-bedroom units, 49 two-bedroom apartments and three three-bedroom residences. Amenities will include a rooftop terrace, outdoor courtyard, fitness center, resident lounge and game room, package and mail rooms and garage bike storage. The building will also house 10,000 square feet of medical office space on the ground floor. The first units are expected to be available for occupancy in early 2027.

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MIAMI — Walker & Dunlop has arranged a $125 million construction loan for Cassi, a 20-story apartment tower located at 91 N.E. 36th St. in Miami’s Design District. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and Michael Stepniewski led Walker & Dunlop’s New York Capital Markets team in arranging the financing on behalf of the borrower, a joint venture between the Miami Design District Associates and The Forbes Co. Amerant Bank was the lead lender, with Bank Hapoalim also participating. Cassi will feature one-, two- and three-bedroom apartments averaging 1,509 square feet in size. The tower will also include 23,000 square feet of retail space.  

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SAVANNAH, GA. — Fort Lauderdale, Fla.-based DoveHIll has placed a preferred equity investment for the redevelopment of a boutique hotel in Savannah’s Historic District. The project will deliver The Sabal House, a 64-room luxury hotel, in place of the former President’s Quarter Inn. The hotel is located on Oglethorpe Square and directly across from the Owens-Thomas House. In addition to upgraded and brand new hotel rooms, The Sabal House will feature Oak Steakhouse, a restaurant concept by Indigo Road Hospitality Group. Terms of DoveHill’s investment were not released. The hotel’s management firm, TPG Hotels & Resorts, says the development team includes Procaccianti Cos., Kim King Associates and Ross Hotel Partners.

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Park-Center-Seven-Oaks-Bakersfield-CA

BAKERSFIELD, CALIF. — BWE has secured a $61 million construction loan to finance the first phase of Park Center at Seven Oaks, a planned 520-unit multifamily community in Bakersfield. Upon completion, Park Center at Seven Oaks will be the largest multifamily development in Kern County, Ariz. Phase I will include 352 garden-style apartments. Located at the southwest corner of S. Allen Road and White Lane, the initial southern phase of Park Center Apartments will feature 17 residential buildings, a leasing office, fitness center and pool house. Of the 352 planned units, 152 will be one-bedroom/one-bath units and the remaining 200 will be two-bedroom/two-bath units. Apartment amenities will include quartz countertops, subway tile backsplash, white Shaker cabinets, hardwood-style plank flooring, stainless steel appliances, in-unit washers/dryers, fiber optic internet, private patios and nine-foot ceilings. Community amenities will include a clubhouse with kitchen, lounges, coworking spaces, storage, a mail room, fitness center with yoga studio, two pools, pergola-shaded barbecue patios and fire pits and a shared active-use turf area with corn hole, volleyball and ping pong. The pet-friendly community will also offer a fenced dog run and onsite dog wash station. Tom Turnage and Alex Gregoire of BWE originated the four-year, floating-rate loan with …

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CHICAGO — Friedman Properties has completed renovations at the Reid Murdoch Building in Chicago’s River North neighborhood. The improvements included the construction of a 5,600-square-foot amenity suite with a new lounge and fitness center. Housed on the fourth floor, the lounge features a café with complimentary coffee drinks, an audiovisual system, refrigeration and warming drawers for larger events and multiple seating configurations to accommodate individuals or small groups. Two conference rooms are available with video conferencing technology. Other features include high-speed internet and a mural by artist Kate Lewis. The fitness center includes cardio equipment with integrated video content and streaming, Peloton bikes and free weights. Tenants have access to locker rooms with showers and towel service as well as a personal trainer. A first phase of renovations completed earlier this year included a 5,388-square-foot speculative office suite on the third floor that includes a lounge and collaboration space, two conference rooms, three private offices, 29 flexible workstations and an open kitchen. The lobby was also renovated. Originally constructed in 1914, the Reid Murdoch Building long served as the office, warehouse and manufacturing facilities for Reid, Murdoch & Co., one of the country’s largest wholesale grocers. The building hosted traffic …

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OTSEGO, MINN. — Kraus-Anderson has broken ground on a new $18.4 million fire and emergency service station for the City of Otsego, a northeast suburb of the Twin Cities. Operations at the two-story, 35,000-square-foot facility are set to begin on Jan. 1, 2027. Wold Architects and Engineers designed the project. The south side of the facility is designed for emergency response operations and will house six large apparatus bays for fire engines, a dedicated gear contamination area, storm shelter, hose/training tower and training mezzanine to support ongoing firefighter development. The north side of the building is dedicated to firefighter and staff well-being with bunk rooms, quiet rooms, laundry and gear storage, a full kitchen and dayroom, separate kitchenette, fitness center, conference rooms, offices and remote workspaces. Site development will include new utility infrastructure, drive lanes, public and staff parking areas, snow melt aprons, sidewalks, stormwater management ponds, a screened trash enclosure and landscaping.

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