Development

RightQuest Breaks Ground on 264-Unit Luckey Ranch Apartments in San Antonio

by Taylor Williams May 18, 2021

SAN ANTONIO — Dallas-based multifamily developer RightQuest Residential has broken ground on Luckey Ranch San Antonio, a 264-unit apartment community on the city’s west side. The property will be located on a 13-acre site adjacent to the Luckey Ranch master-planned community. Units will feature one- and two-bedroom floor plans and will be furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities will include a pool, fitness center, business center, media room, outdoor grilling areas, package lockers, a pet park and onsite storage space. Project partners include Allen, Texas-based Cross Architects, San Antonio-based civil engineering firm Macina, Bose, Copeland & Associates Inc. and Houston-based general contractor Nations Construction. The Houston Group provided construction financing for the project. The first units are expected to be available for occupancy in spring 2022. Rents will start at $1,075 per month for a one-bedroom unit.

May 18, 2021

Development Georgia Leasing Activity Restaurant Southeast

Rosé Bistro & Champagne Bar to Open at Atlantic Station in West Midtown Atlanta

by Julia Sanders May 18, 2021

ATLANTA — Rosé Bistro & Champagne Bar, a Parisian cuisine and wine bar concept, is set to open this fall at Atlantic Station, the 138-acre retail, restaurant and entertainment destination in West Midtown Atlanta. Located at 232 19th St., the bistro will feature a wine list and French dishes for brunch, dinner and light bites. Houston-based Hines is the property management firm at Atlantic Station. Situated near Atlantic Green, Rosé Bistro & Champagne Bar will offer a raw bar, indoor and outdoor dining and a full bar with cocktails including rosé champagne punch and French 75. The 1,634-square-foot bistro is the newest restaurant to join the tenant mix at Atlantic Station. With additional tenants to be announced, Atlantic Station plans to open tenants such as Azotea Cantina, LINDBERGH and Toscano Ristorante Italian this year. Another current tenant is the Regal Atlantic Station, which just opened back up after being closed since October 9, 2020 due to COVID-19.

May 18, 2021

Valley-Tool-&-Manufacturing-Milford-Connecticut

Connecticut Development Industrial Northeast

Valley Tool & Manufacturing to Open 100,000 SF Industrial Facility in Milford, Connecticut

by Taylor Williams May 18, 2021

MILFORD, CONN. — Valley Tool & Manufacturing LLC has acquired 8.1 acres in Milford, located in the southern coastal part of the state, for the development of a 100,000-square-foot industrial facility. Jon Angel of Angel Commercial LLC represented Valley Tool & Manufacturing in its site selection and acquisition of the land assemblage, which consists of seven parcels that were purchased in two separate transactions. Construction is underway, and the facility is expected to open by the end of the year.

May 18, 2021

Civic Development New Jersey Northeast

Legacy Engineers, CCH Underway on $50M Redevelopment of Newark Symphony Hall

by Taylor Williams May 18, 2021

NEWARK, N.J. — A team of industry professionals that includes New York-based Legacy Engineers and New Jersey-based architecture firm Clarke Caton Hintz (CCH) is underway on the $50 million redevelopment of Newark Symphony Hall. The building was originally constructed in 1905 and was added to the National Register of Historic Places in 1977. The development team is repositioning the building in three phases over five years. Earlier this month, the team unveiled the new façade and streetscape. The project will also upgrade the city block, adding bike lanes, a central island and transportation access. New Jersey-based consulting firm Reh + Main Design & Development managed the selection process of the historic preservation architect for the initial phase of the project.

May 18, 2021

Development New York Northeast Office Top Stories

Paramount Group Plans $250M Renovation at 60 Wall Street Office Tower in Manhattan

by John Nelson May 18, 2021

NEW YORK CITY — Paramount Group Inc. (NYSE: PGRE) has announced plans to overhaul the base and interior spaces at 60 Wall Street, a 47-story office tower in Lower Manhattan’s Financial District. The project is set to kick off when the building’s sole occupant, Deutsche Bank, vacates the tower next summer. Paramount Group plans to invest $250 million for the renovation, according to New York Business Journal. Originally built in 1989, the 1.6 million-square-foot tower is LEED Gold-certified and sits along Wall Street with Pine Street bounding the property on the north. Paramount Group, a New York City-based owner and manager of Class A office towers, has tapped architectural firm Kohn Pedersen Fox (KPF) to oversee the renovation. The firm has also selected Paul Amrich and Howard Fiddle of CBRE to lease and manage 60 Wall Street for tenants to replace Deutsche Bank. The revitalization plan includes opening the base of 60 Wall Street’s façade with new triple-height windows and a vast skylight to allow for more natural lighting. The renovation is set to also include the installation of a 100-foot green wall, which will improve air quality and provide greenery to the tower’s public spaces. The indoor green wall …

May 18, 2021

Development Loans Maryland Multifamily Southeast

JLL Arranges $82.6M Construction Financing for Multifamily Project in Columbia, Maryland

by Julia Sanders May 17, 2021

COLUMBIA, MD. — JLL has arranged an $82.6 million construction loan for the development of Marlow, a 472-unit apartment community with 32,340 square feet of ground-floor retail space located in downtown Columbia. Mark Gibson, Jamie Leachman, Drake Greer and Jackson Cabot of JLL secured the floating-rate construction loan on behalf of the borrower, an affiliate of The Howard Hughes Corp. The four-year loan includes a one-year extension option. Located at 6200 Valencia Lane, Marlow will total 510,181 rentable square feet and include studio, one-, two- and three-bedroom floorplans, in addition to eight loft units with two-story layouts. Initial delivery of the apartments is expected in fall 2022. The Marlow will be part of Merriweather District, Howard Hughes Corp.’s 14 million-square-foot master-planned development. Merriweather District will total 2.3 million square feet of office space; 320,000 square feet of retail space; 1,900 multifamily units; a 250-room hotel, community pavilion; and about 60 acres of open space. The Merriweather District features Symphony Woods, a 40-acre parkland area, and Merriweather Post Pavilion, a music and community venue.

May 17, 2021

California Development Multifamily Student Housing Western

Farco Properties Buys Multifamily Development Site Near USC in Los Angeles for $5M

by Amy Works May 17, 2021

LOS ANGELES — Farco Properties has acquired an 0.29-acre development site located near the University of Southern California (USC) in Los Angeles. A private seller sold the property for $5 million. Located at 647 W. 28th St., the multifamily site provides a development opportunity on the area’s “Fraternity/Sorority Row” within walking distance of USC. The site, which is currently unentitled and used as a parking lot, is within a designated opportunity zone and is classified as a tier 3 transit-oriented community. Farco Properties plans to develop a multifamily property on the site. Laurie Lustig-Bower and Kamran Paydar of CBRE represented the seller in the transaction.

May 17, 2021

Arizona Development Industrial Western

Marwest, Willmeng Construction Break Ground on 235,000 SF Build-to-Suit Industrial Property in Mesa

by Amy Works May 17, 2021

MESA, ARIZ. — Marwest Enterprises, as developer, and Willmeng Construction, as general contractor, have broken ground on a 235,000-square-foot build-to-suit industrial facility for Canada-based ElectraMeccanica Vehicles Corp., a Canada-based designer and manufacturer of environmentally efficient electric vehicles. The facility will feature an assembly line and manufacturing plant, research center, 22,000-square-foot office space and 19,000 square feet of lab space. ElectraMaccanica will lease the building from Marwest Enterprises. Ware Malcomb is serving as architect and Hunter Engineering is serving as engineer for the project. Situated on 18 acres adjacent to the Phoenix-Mesa Gateway Airport, the facility will have the production capacity of up to 20,000 vehicles per year and employ 200 to 500 people. Completion is slated for spring 2022.

May 17, 2021

Development Iowa Midwest Office

R&R Realty Group to Renovate Two Buildings at Regency West Office Park in West Des Moines

by Kristin Harlow May 17, 2021

WEST DES MOINES, IOWA — R&R Realty Group has unveiled plans to renovate Buildings 7 and 8 at its Regency West Office Park in West Des Moines. The pandemic spurred the renovation, according to R&R. “As our customers are returning to their offices, they’re telling us that amenities are still very important in order to entice the workforce back to the office and to retain the workforce working in the office,” says Mark Ruprpecht, president of R&R. New amenities at Regency West will include collaborative spaces with germ-resistant materials and space for social distancing. A fitness center will be equipped with treadmills, elliptical machines and Peloton bikes. A space known as the Veranda at Regency West will include large windows that can open to the outdoors. An automated coffee shop and a grab-and-go market will provide food and beverage options. These amenities will be available to all Regency West tenants, regardless of which building they occupy at the 623,000-square-foot complex. R&R plans to invest more than $1 million over the next 12 months for the new amenities.

May 17, 2021

Development Office Texas Top Stories

Hillwood Urban Plans to Develop 38-Story Office Building in Downtown Dallas

by Taylor Williams May 17, 2021

DALLAS — Hillwood Urban, a division of Fort Worth-based industrial giant Hillwood, plans to develop Field Street Tower, a 38-story office building that will be located at 1201 Field St. at the crossroads of Uptown and downtown Dallas. A total price tag for the project was not disclosed. The site of Field Street Tower is adjacent to Klyde Warren Park and across from the Perot Museum of Nature and Science. The 520,000-square-foot property will rise 600 feet, making it the tallest office building developed in downtown Dallas in the last three decades, according to the development team. Field Street Tower will feature amenities such as a tenant lounge, coffee bar, conference facilities, a 9,000-square-foot fitness center and a half-acre of outdoor green space with views of Klyde Warren Park. The building will also house retail and restaurant space with outdoor seating. In addition, the HVAC system will be equipped with an ultraviolet air purification system to protect tenants from airborne contagions. Pickard-Chilton is designing the project, while BOKA Powell is the architect of record. The Office of James Burnett is handling landscape design. Construction is set to begin in June. The development team believes the building could be available for …

May 17, 2021

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