FORT WORTH, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $28.9 million construction loan for Legacy Riverside Senior Living Community, a 264-unit affordable project in Fort Worth. Units, which will feature studio, one- and two-bedroom options, will be reserved for renters earning 60 percent or less of the area median income. Amenities will include a clubhouse, pool and walking paths. Phil Melton, Jeff Bradley and Cindy Hamm of Bellwether originated the loan on behalf of the borrowers, Legacy Multifamily Development and RISE Residential Construction, which will develop the property in partnership with Garland Housing Finance Corp.
CHICAGO — The Sable at Navy Pier, a 223-room, seven-story hotel, opened today at Chicago’s Navy Pier tourist attraction. James McHugh Construction Co. and Powers & Sons Construction Co. were the general contractors for the $100 million project. Developer ACRON USA owns the hotel, which is part of Hilton’s Curio brand. Maverick Hotels and Restaurants is the hotel operator. Every room at the hotel offers a waterfront view of the Chicago skyline. Construction involved integrating the new building into the pier’s existing structure. Construction began in June 2018 and was completed in October 2020, but the opening of the hotel was delayed due to COVID-19. Navy Pier itself has been closed since last fall and is expected to reopen this spring. The Sable name comes from the USS Sable, which served as a Great Lakes luxury cruise ship prior to World War II. KOO LLC was the project architect and interior designer, while Thornton Tomasetti served as structural engineer.
CHICAGO — Optima Inc. has topped off Optima Lakeview, a 198-unit luxury apartment project in Chicago’s Lakeview neighborhood. The seven-story, transit-oriented development includes 14,000 square feet of street-level retail space. First move-ins are scheduled for spring 2022. Work on the project, which is situated on the site of a former Treasure Island grocery store, began five months ago. Optima is serving as both architect and general contractor. Optima Lakeview will feature 40,000 square feet of amenities, including a rooftop sky deck, indoor basketball court, golf simulator, fitness center, yoga room, sports lounge, dog park, game room, demonstration kitchen, business center and two conference rooms. Units will feature keyless entry and smart thermostat and lighting. Optima says the units are significantly larger than what’s currently available in the market in order to accommodate dedicated space for a home office with the rise of the work-from-home model.
ELK GROVE VILLAGE, ILL. — Skybox Datacenters is underway on the development of Skybox Chicago I, a 189,000-square-foot data center in the suburban Chicago community of Elk Grove Village. The project is the first facility being developed as part of a new partnership between Skybox and Prologis Inc. The partnership will focus on data center markets across Chicagoland. Completion of the first facility is slated for November.
ROSELLE PARK, N.J. — Greystone has arranged a $65 million construction loan for a 325-unit multifamily project at 10 Westfield Ave. W. in the Northern New Jersey community of Roselle Park. The project will include the development of 16,000 square feet of retail space and a 518-space parking garage and an amenity package that consists of a courtyard, lounge, fitness center and meeting rooms. ACORE Capital provided the loan to Capodagli Property Co. Drew Fletcher, Miryam Kops and Bryan Grover of Greystone placed the debt. Completion is slated for 2023.
BOSTON — Illinois-based general contractor Cicero Construction Group has completed the renovation of the Staypineapple Boston, a 56-room boutique hotel in the city’s South End neighborhood. The project included a rebranding of the hotel, formerly known as the Chandler Inn, as part of Seattle-based Staypineapple chain, which purchased the property in February 2018. Renovations delivered upgraded beds and bathrooms to rooms, as well as new flooring, paint, wall coverings and other interior improvements to the lobby, hallways and common areas.
MYRTLE BEACH, S.C. – The Sembler Co., a St. Petersburg, Fla.-based commercial real estate developer, plans to develop The Mill, a 46-acre mixed-use project in Myrtle Beach’s Carolina Forest community. The new development is slated to include retail, office space and multifamily. Sembler is partnering with Hawthorne Residential Partners on the apartment residences. Sembler and Hawthorne expect to begin construction this summer. The Mill is situated at the intersection of River Oaks Drive and Carolina Forest Boulevard, adjacent to The Parks of Carolina Forest, a roughly 800-unit housing development by D.R. Horton Inc. The Mill will include Marketplace at The Mill, a 66,680-square-foot neighborhood shopping center that features a freestanding, 46,800-square-foot Publix, as well as a six-acre parcel ideal for a medical or traditional office, hotel, mini-storage or other commercial use. The shopping center is expected to be complete by summer 2022. The Mill will also include Hawthorne at The Mill, a 290-unit multifamily residential community. The property will offer one-, two- and three-bedroom units throughout two four-story buildings with elevator access and nine, two-story carriage-style buildings over private garages. The apartment community will also feature over 8,000 square feet of amenity space, including a luxury clubhouse with resident lounge, …
IRVING, TEXAS — State Bank of Texas, a Dallas-based commercial lender with $1 billion in assets under management, will open a 48,000-square-foot office headquarters in Irving’s Las Colinas district. Dallas-based Malone Maxwell Dennehy Architects is designing the four-story, Class A project, with State Bank of Texas set to occupy the top two floors. Construction should commence by the end of the year and is expected to be completed mid-2023.
AMARILLO, TEXAS — General contractor Adolfson & Peterson Construction, in partnership with Potter County, has broken ground on the new District Courts Building, a 158,250-square-foot civic project in Amarillo. Designed by HOK Group, the five-story building will house courtrooms, a jury assembly room, county offices, holding areas and records storage space. Completion is slated for late 2022.
MONTVALE, N.J. — Thrive Senior Living will open the welcome center on March 27 at Thrive at Montvale, a seniors housing community in the Northern New Jersey city of Montvale. The three-story building is located near Lake Tappan along the New York State border just north of Manhattan and will feature 203 units of independent living, assisted living and memory care.