SOUDERTON, PA. — A partnership between J.G. Petrucci Co. and Boston-based Cabot Properties will develop a 148,960-square-foot speculative industrial project in Souderton, located north of Philadelphia in Montgomery County. The property will feature a clear height of 32 feet, 24 loading positions and 24 trailer storage positions. Completion is slated for this fall. Jon Mikula, John Plower and Mike Lachs of JLL arranged the partnership between the two developers.
EWING, N.J. — New Jersey-based Atlantic Realty Development Corp. has begun leasing the 164-unit Phase I of Ewing Town Center, an apartment community in Ewing, located outside of Trenton. The complex is part of a larger project known as Ewing Town Center that will be a conversion of a former General Motors plant into a development that will ultimately feature 1,182 units, 90,000 square feet of retail space and 14,000 square feet of office space. The first apartment complex, known as the Witherspoon, offers two-bedroom flats and townhomes.
ST. LOUIS — Mac Properties, a multifamily residential developer with offices in Chicago, Kansas City and St. Louis, has delivered a luxury apartment tower in St. Louis called One Hundred Above the Park. Clayco was the general contractor for the 36-story project, which overlooks Forest Park within the city’s Central West End neighborhood. “We are proud to have completed this world-class landmark for St. Louis in the midst of the pandemic,” says Matt McKenna, Clayco’s vice president of residential construction. “The project’s success is the result of months-long planning, scheduling and logistical collaboration between all stakeholders.” Mac Properties worked closely with St. Louis Development Corp. and the City of St. Louis to bring One Hundred Above the Park to fruition, and Clayco kept construction on schedule by completing one floor per week. Architect Jeanne Gang of Studio Gang designed One Hundred Above the Park with a “scalloped” glass façade. The angled exterior gives each of the 316 apartments a corner living room with double windows, which helps Mac Properties to improve energy efficiency by promoting natural lighting. Each floorplate is designed into a leaf-shaped pattern, which gives the tower a tiered look. “We hope residents enjoy this distinctive high-rise for …
SAVANNAH, GA. — Clark Construction Group has broken ground on the expansion of Savannah Convention Center located at 1 International Drive in Savannah. Clark Construction is the construction manager and general contractor for the $271 million project, which is slated for completion in 2023. The complex will remain open during the entirety of the expansion project. The project will double the Savannah Convention Center’s exhibit hall space to 200,000 square feet, add a 58-foot-wide hangar door, 40,000-square-foot ballroom, 15 additional meeting rooms and a 900-space parking garage. The redevelopment will enable Savannah to contend for larger conventions and events. The project’s delivery is anticipated to create as many as 600 construction jobs. In 2017, the Georgia General Assembly first approved the initial funding to begin design efforts in concert with Atlanta-based Thompson, Ventulett, Stainback & Associates and Savannah-based Hanson Architects — the two firms that designed the original convention center. Clark Construction first began preconstruction work on the project in October 2018. Over the last 28 months, the company has worked in close coordination with the Savannah-Georgia Convention Center Authority and the Georgia State Financing and Investment Commission (GSFIC) leaders to support extensive budgeting efforts, design development and advance subcontractor …
SOUTH SAN FRANCISCO, CALIF. — Healthpeak Properties will commence construction on Nexus on Grand, a life sciences development located at 233 E. Grand Ave. in South San Francisco. The Class A development will consist of a five-story, 141,000-square-foot building and an adjacent parking structure. The purpose-built lab building will feature modern design, prominent location on East Grand Avenue, flexible and efficient floor plates and lab-ready building systems that will accommodate a number of life sciences users. Nexus on Grand will be Healthpeak’s third ground-up development in the San Francisco market since 2015, following the leasing of The Cove at Oyster Point and The Shore at Sierra Point.
DENTON, TEXAS — Dallas-based developer Hunt Southwest has broken ground on Phase I of I-35 Convergence, a speculative industrial project in the North Texas city of Denton that could ultimately feature as much as 500,000 square feet of Class A space. The site is located within Westpark Industrial Park, just northwest of the Interstate 35 East/West split. Building I will span 250,000 square feet and will include 32-foot clear heights and an ESFR sprinkler system. Building II will be a build-to-suit for a user with a 100,000- to 250,000-square-foot requirement. Completion of Building I is slated for December. Colliers International is leasing the project.
CLAYTON, MO. — Midas Construction has broken ground on a $47 million Residence Inn by Marriott hotel in Clayton, a suburb of St. Louis. The extended-stay hotel will rise 12 stories with 170 rooms. Completion is slated for 2022. A street-level bar will include indoor and outdoor seating. There will also be 3,300 square feet of meeting space with an outdoor terrace and bar. Guests will enjoy complimentary breakfast and access to a 1,500-square-foot fitness center. Joining Midas on the project team are CECO Concrete Construction Inc., SSC Engineering and Castle Contracting LLC.
NEW YORK — JLL Capital Markets has arranged $393 million in construction financing for a project that will convert a 399,029-square-foot office building at ABC/Disney’s former headquarters building in Manhattan into a life sciences facility with purpose-built research and lab space. The borrower, a partnership controlled by New York City-based developer Taconic Partners and investment firm Nuveen Real Estate, purchased the building at 125 West End Ave. in 2019 for $230 million. With the vacating of the property by its primary tenant, which operated out of the building from 1985 until its lease expired in January of this year, the partnership is set to begin construction. The senior lender on the four-year, floating-rate financing package was a fund backed by Apollo Global Management, while Oaktree Capital Finance also provided mezzanine debt for the project. Evan Pariser and Geoff Goldstein of JLL placed the financing. The 125 West End Ave. building is located less than a quarter-mile from Lincoln Square and is close to the 1, 2 and 3 subway lines as well as West Side Highway. Additionally, the project is situated just 18 miles from the John F. Kennedy International Airport in New York City. The existing building’s specs allow …
TEMPE, ARIZ. — Milhaus is developing Milhaus North Tempe, a $177 million, two-phase multifamily community at 1245 E. Curry Road in Tempe. The $91 million first phase is slated to break ground this month. The project is Milhaus’ entry into the Arizona market. The community will feature 310 studio, one-, two-, three- and four-bedroom units in the first phase and a total of 621 units at full buildout. Onsite amenities will include a pool deck, grill stations, outdoor spa, commercial grade fitness center, clubhouse with work and entertainment areas, library and a dog park. Los Angeles-based Banyan Residential is a co-developer on the project. The project team also includes Todd & Associates, McShane Construction, design-art llc and Rick Engineering.
MISSION VIEJO, CALIF. — Denver-based Confluent Senior Living, Scottsdale, Ariz.-based Concord Development Partners and Denver-based MorningStar Senior Living have broken ground on MorningStar of Mission Viejo, a 132-unit seniors housing community. The property will be situated at the former Avery Plaza business center at the intersection of Marguerite and Avery parkways in Mission Viejo. Slated to open in early 2023, the community will feature independent living, assisted living and memory care units. The property will offer studio, one- and two-bedroom suites, as well as 126 below-grade parking spaces. Community amenities will feature 13,809 square feet of outdoor space, including a pool, dog park, community garden and outdoor dining area; a spa and wellness center; and 24-hour staffing including full-time licensed nurses. The project team includes KTGY Architecture + Planning, Snyder Langston as general contractor and David Evans & Associates as civil engineer.
