Development

Dinerstein Opens 40-Story Aspire Post Oak Multifamily Tower in Houston

by Taylor Williams December 8, 2021

HOUSTON — Locally based development and investment firm The Dinerstein Cos. has opened Aspire Post Oak, a 40-story multifamily tower in Houston’s Post Oak neighborhood. The property features 383 units in one-, two- and three-bedroom formats and 18,000 square feet of retail and restaurant space. The amenity package consists of a pool, spa, fitness center with a yoga studio, dog park, sports lounge with a golf simulator, package locker system with refrigeration capabilities, outdoor kitchens and lounges and various other gathering and event spaces. Gensler designed the project. Rents start at $1,983 per month for a one-bedroom unit.

December 8, 2021

Development Illinois Midwest Multifamily

LMC Completes Development of 212-Unit Luxury Apartment Project in Suburban Chicago

by Kristin Harlow December 8, 2021

ELMHURST, ILL. — LMC, a wholly owned subsidiary of Lennar Corp., has completed development of The Fynn in Elmhurst, a western suburb of Chicago. BKV Group designed the eight-story, 212-unit apartment development, which is located at 183 N. Addison Ave. BKV provided planning and pre-development services and led all engineering, architecture, interior design and landscape architecture. Amenities include a pool, community lounge, coworking stations, fitness center, exercise studio, dog run and sky club. Monthly rents start at $1,815. Residents can now receive up to two months of free rent.

December 8, 2021

Development Illinois Industrial Midwest

Peak Breaks Ground on Phase II of DuPage Business Center in West Chicago

by Kristin Harlow December 8, 2021

WEST CHICAGO, ILL. — Peak Construction Corp. has broken ground on the second phase of DuPage Business Center in West Chicago. Scannell Properties is the developer for the 250,100-square-foot speculative warehouse, which will feature a clear height of 32 feet, 30 dock positions, four drive-in doors and parking for 208 cars and 95 trailers. The facility is designed to accommodate up to four tenants. Completion is slated for the third quarter of 2022. The project team includes SpaceCo, Ware Malcomb and IMEG. Cory Ramey and Shamus Conneely of John Greene Industrial will market the project for lease.

December 8, 2021

Acquisitions Development Illinois Lee & Associates Midwest Multifamily

Lee & Associates Negotiates Sale of Multifamily Development Site in Wheeling, Illinois

by Kristin Harlow December 8, 2021

WHEELING, ILL. — Lee & Associates has negotiated the sale of a nearly four-acre site at 231 Wheeling Road in Wheeling, a northwest suburb of Chicago. The sales price was undisclosed. The buyer, General Capital, plans to build Union Apartments, a four-story multifamily property. Rick Scardino of Lee & Associates represented the seller, Palumbo Bros. David Erickson of CBRE represented the buyer.

December 8, 2021

California Development Industrial Western

CenterPoint to Develop 100,147 SF Distribution Center Near Ports of Los Angeles, Long Beach

by Amy Works December 8, 2021

SIGNAL HILL, CALIF. — CenterPoint Properties has acquired nine acres of land at 2550 Orange Ave. in Signal Hill from Signal Hill Petroleum for an undisclosed price. CenterPoint plans to develop a 100,147-square-foot distribution facility with 17 dock-high doors and 73 trailer parking stalls on the former driving range site. Tom Holland, Justin Domblaser and Alex Matar represented CenterPoint in the deal.

December 8, 2021

Civic Development Midwest Missouri

$1.5B Airport Terminal Under Construction in Kansas City to Feature Touchless Kiosks, Biometric Verification

by Kristin Harlow December 7, 2021

KANSAS CITY, MO. — Construction is underway on a new $1.5 billion terminal at Kansas City International Airport. Henderson Engineers is serving as the lead engineer and designed the technological infrastructure, which includes touchless kiosks and video walls. This infrastructure will also support a biometric verification system that will enable travelers to use their faces as boarding passes. Using three-dimensional building information modeling software, Henderson determined placement for security cameras throughout the 1 million-square-foot terminal. Siemens is assisting with innovative technology efforts. Completion of the project is slated for early 2023. The airport will transition from its current three-terminal layout to the new single terminal. Since airport operations will need to remain functional during the transition, air transport communications company SITA is designing an IT network that will prevent interruptions to security and other vital systems during the changeover. In addition to technology, Henderson’s array of building systems design services for the new terminal includes acoustics, audio-video, electrical, fire alarm, mechanical and plumbing. Skidmore Owings & Merrill is the lead architect for the project and Edgemoor Infrastructure & Real Estate is the developer.

December 7, 2021

Affordable Housing Development Indiana Midwest Multifamily

NRP Group Opens 100-Unit Affordable Housing Community in Evansville, Indiana

by Kristin Harlow December 7, 2021

EVANSVILLE, IND. — The NRP Group has opened Homes of Evansville II, a 100-unit affordable housing community in the southwest Indiana town of Evansville. The project consists of 20 single-family homes, five duplexes and a 30-unit apartment building. The units are reserved for residents earning between 30 and 80 percent of the area median income. Twelve of the units are permanent supportive housing with services provided by ECHO Housing. HOPE of Evansville served as the joint venture partner. Additional project partners included the City of Evansville, which contributed HOME funds; Boston Financial, which provided the tax credit equity; BMO Financial Group, which provided the construction and permanent loans; and the Indiana Housing & Community Development Authority, which provided a development fund loan. Phase I of the project, completed in 2013, consisted of 40 single-family homes.

December 7, 2021

Development Florida Multifamily Southeast

Legacy Partners, Griffin Capital Open 228-Unit Multifamily Community in Downtown Tampa

by Julia Sanders December 7, 2021

TAMPA, FLA. — San Francisco Bay-based Legacy Partners and Los Angeles-based Griffin Capital Co. LLC have opened Legacy Encore, a 228-unit multifamily community in Tampa. Located at 1251 Ray Charles Blvd., the apartment property is located within Encore!, Tampa Housing Authority’s $3 billion mixed-use development in downtown Tampa. The five-story property offers studio, one- and two-bedroom floorplans. Units feature 10-foot ceilings, quartz countertops, stainless steel appliances, contemporary cabinets, smart home technology package, full-sized washers and dryers, soaking tubs, glass enclosed showers, walk-in closets and balconies. Community amenities include a heated saltwater pool, internet cafe with coworking spaces, bike repair station, pet spa with dog run and a fitness center with spin and yoga studio. The $3 billion ENCORE! destination a LEED-certified collection of seniors, workforce and luxury housing options, as well as a mixed-use destination that includes public art, green spaces, a museum and educational and cultural centers. The project team includes Dynamik Design as the architect and Summit Contracting Group as the general contractor.

December 7, 2021

Arizona Development Multifamily Western

StreetLights Residential Breaks Ground on The Alyssa Multifamily Community in Tempe

by Amy Works December 7, 2021

TEMPE, ARIZ. — StreetLights Residential has broken ground for The Alyssa, an apartment property located along E. Rio Salado Parkway in Tempe. The Alyssa will feature 335 apartments in a mix of studio, one-, two- and three-bedroom floor plans with an average size of 881 square feet. Community amenities will include two pools with an attached spa, an outdoor lounge, a bar with direct access to the pool, coffee lounge, maker’s lounge, mail room, app-activated parcel lockers, dry-clean lockers, pet spa, park and a fitness center. StreetLights Creative Studio will serve as the architect of record and is handling all interior design in-house. SLR Phoenix Construction is the general contractor and Norris Design is providing landscape design for the project.

December 7, 2021

Building-3-Northpark-35-Industrial-Park-Georgetown

Development Industrial Texas

Titan Development Breaks Ground on 172,428 SF Industrial Project in Georgetown, Texas

by Taylor Williams December 7, 2021

GEORGETOWN, TEXAS — Titan Development has broken ground on the 172,428-square-foot Building 3 as part of Phase II of Northpark35 Industrial Park, located in the northern Austin suburb of Georgetown. Phase I of the project centered on the development of Building 1, a 172,677-square-foot building that is now leased to Texas Speed & Performance, a supplier of automotive parts. Building 2 spans 157,300 square feet and is available for lease. Completion of Building 3 is slated for May 2022.

December 7, 2021

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