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.
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 …
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.
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.
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.
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.
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 …
ALEXANDRIA, VA. — Aventon Cos. has broken ground on Aventon Huntington, a new apartment development located adjacent to the Huntington Metro station in Alexandria that is valued at more than $100 million. The 366-unit property will be situated just south of Washington, D.C., and within a few miles of Old Town Alexandria, the Capital Beltway, Ronald Reagan Washington National Airport and Amazon’s HQ2 in National Landing. The project is slated to be complete in the spring of 2023. Located on approximately four acres at 5919 N. Kings Highway, Aventon Huntington will offer studio, one-, two- and three-bedroom apartments that include smart home technology. The seven-story property will have over 15,000 square feet of indoor amenity space including remote-working lounges with private offices, fitness and yoga studios, gaming and media lounges, a podcast studio, video conference studio, rooftop deck and indoor sky lounge with private dining space, pet spa, automated package delivery, bike storage and repair shop and covered parking. Outdoor community amenities will include a private resort-style pool, summer kitchen, outdoor media lounge and outdoor remote-working courtyard. The building will be certified Silver under the National Green Building Standard for sustainability. In January 2020, Aventon began construction on Aventon Crown, …
JACKSONVILLE, FLA. — CT Realty, in a joint venture with Diamond Realty Investments, has purchased 250 acres of industrial-zoned land in Jacksonville for the development of an eight-building, 3.2 million-square-foot logistics park. The buyers have begun developing the first phase, which spans 1.7 million square feet across three buildings, and is projected to be completed in 2022. Southeast Toyota Distributors, an independent Toyota automotive distributor, sold the site for $300 million. Guy Preston and Seda Preston of Colliers International represented both Southeast Toyota Distributors and the buyers in the land sale. The site is situated off Pritchard Road, approximately three miles west of Interstate 295 and close to Jacksonville Port Authority (JAXPORT), which handles the highest container volume of Florida’s four major seaports. JAXPORT is in the midst of a major dredging project that, upon completion in 2022, will create the deepest port on the East Coast, capable of serving high-capacity post-Panamax container ships.
LOS ANGELES — J.H. Snyder Co., with MVE + Partners as architect and designer, has completed One Museum Square, a 296,000-square-foot high-rise apartment tower in Los Angeles. Located at 640 S. Curson Ave., the 21-story building features 285 residential units; a large, open-air activity patio with dining and lounge seating; a residence lounge that opens to a patio; flexible workspaces; fitness center; and rooftop pool and hot tub. One Museum Square offers a mix of studio, one- and two-bedroom units, ranging from 495 square feet to 1,300 square feet, with private glass balconies; floor-to-ceiling windows; quartz countertops and full backsplashes; Kohler bathroom and kitchen fixtures; oversized soaking tubs or fully tiled showers; Bosch washers and dryers; custom-designed closets; extra bathroom and kitchen storage; and Fisher & Paykel appliances. The project team included SCA Engineers, NA & Associates, Limbach Engineer and Donald F. Dickerson Associates.