Development

ARG Bull Creek Underway on 76-Acre Grove at Shoal Creek Mixed-Use Project in Austin

by Taylor Williams February 8, 2021

AUSTIN, TEXAS — Developer ARG Bull Creek Ltd. is underway on construction of The Grove at Shoal Creek, a 76-acre mixed-use project located at the intersection of 45th Street and Bull Creek Road in Austin. Master plans for the development call for 1,150 residential units in single-family and multifamily formats, 185,000 square feet of office space and 140,000 square feet of retail space. The developer is a joint venture between MileStone Community Builders, which is handling the residential portion of the project, and Castletop Capital, which is handling the mixed-use portion. To date, about 150 households have taken residence at The Grove, with several office and retail users also committing to the development. Weitzman is leasing the retail component of the project.

February 8, 2021

Development Healthcare Life Sciences Loans Massachusetts Multifamily Northeast Office

Joint Venture to Develop 194,000 SF Life Sciences Facility, 450-Unit Apartment Building in Boston

by Taylor Williams February 8, 2021

BOSTON — A joint venture between affiliates of Magellan Development Group, RAS Development, Cypress Equity Investments and USAA Real Estate will develop a 194,000-square-foot life sciences facility and a 450-unit apartment building in the Somerville area of Boston. The development represents the first phase of the master plan for the revitalization of Union Square, a project that will ultimately span 2.4 million square feet of commercial and residential space. The project also includes the addition of an MBTA Green Line station. Daniel Kaufman, Frederic Wittmann and Brett Paulsrud of JLL arranged construction financing through Bank OZK for both the life sciences and the multifamily components of the project.

February 8, 2021

Affordable Housing Development Massachusetts Multifamily Northeast

The Neighborhood Developers Underway on 77-Unit Affordable Housing Project Near Boston

by Taylor Williams February 8, 2021

EVERETT, MASS. — The Neighborhood Developers, a Massachusetts-based nonprofit organization, is underway on construction of an affordable housing project in Everett, a northern suburb of Boston. The project will add 77 units for seniors age 62 and above, as well as a 4,000-square-foot healthcare facility, to the local supply. The project also includes six townhomes that will be listed for sale at below-market prices. A completion date was not disclosed.

February 8, 2021

Development Industrial Southeast Tennessee

Amazon to Open 634,812 SF Fulfillment Center in Alcoa, Tennessee

by John Nelson February 5, 2021

ALCOA, TENN. — Amazon plans to open a 634,812-square-foot fulfillment center in Alcoa, which is located 14 miles south of Knoxville. The development, which is anticipated to launch in 2022, will create nearly 800 new, full-time jobs. Dallas-based Hillwood Development Co. Inc. is developing the project on behalf of Amazon. The Alcoa facility will be Amazon’s third fulfillment center in Tennessee to use Amazon Robotics technology and the company’s eighth fulfillment center in the Volunteer State. Amazon employees at the center will pick, pack and ship smaller customer items, such as books, electronics and consumer goods. The starting wage will be $15.

February 5, 2021

Development Louisiana Mixed-Use Multifamily Southeast

Audubon to Develop $55M Apartment Community in Metairie, Louisiana

by John Nelson February 5, 2021

METAIRIE, LA. — Audubon will develop a five-story, $55 million apartment community in Metairie known as The Metro at Clearview. The 270-unit development will feature units averaging 925 square feet and leases ranging from an average of $1,500 to $3,000 per month. The apartment complex is the multifamily component of Clearview City Center, a redevelopment of the former Clearview Shopping Center. The $100 million mixed-use development, owned by the Richards family, sits on a 35-acre site approximately six miles northwest of downtown New Orleans. The Metro at Clearview will feature two courtyards, a pool and cabanas, yoga lawn, lounge area, grilling stations, sitting area and a Zen garden. Community amenities include a 2,000-square-foot clubroom with multiple seating and entertainment areas, a catering kitchen, fully furnished fitness center and a sky lounge. The Metro at Clearview will join other planned tenants at the Clearview City Center redevelopment, including Ochsner Health System, which is developing a super clinic for comprehensive healthcare services, and Regions Bank at the intersection of Clearview Parkway and Veterans Boulevard. Audubon expects to begin construction this May and complete the development in two years. Audubon is an Atlanta-based firm specializing in the acquisition and management of multifamily properties.

February 5, 2021

Affordable Housing Development Illinois Midwest Multifamily

Evergreen Real Estate, Structured Development Begin Development of $25M Mixed-Income Community in Chicago

by Kristin Harlow February 5, 2021

CHICAGO — Evergreen Real Estate Group and Structured Development have begun development of Schiller Place Apartments on Chicago’s Near North Side. The mixed-income housing community, located on West Schiller Street, will span three buildings with 48 units. The project is being built on land formerly occupied by the Isham YMCA. Schiller Place will feature eight market-rate units. The remaining 40 units will be set aside for households earning between 30 and 60 percent of the area median income (AMI). The development team secured project-based vouchers for 24 units through the Chicago Housing Authority. Additionally, five units will be set aside for veterans and an additional five units reserved for individuals sourced through the Statewide Referral Network, which works with households earning at or below 30 percent of AMI with a head of household who has a disability or illness. Completion is slated for early 2022. GMA Construction is the general contractor and Bailey Edward is the architecture firm. Funding for the project came from the Illinois Housing Development Authority, Hudson Housing Capital, CIBC Bank, IFF and Clocktower Tax Credits. Housing and Human Development Corp. will provide onsite social services to residents.

February 5, 2021

Development Illinois Midwest Office

J.C. Anderson Completes 108,723 SF Office Buildout for Bosch in Suburban Chicago

by Kristin Harlow February 5, 2021

OAKBROOK TERRACE, ILL. — J.C. Anderson has completed a 108,723-square-foot office buildout for Bosch at One Tower Lane in Oakbrook Terrace. The project scope included a 92,840-square-foot space on the top five floors of the office building as well as a 15,883-square-foot separate space known as “the annex,” which will serve as a testing and lab facility. Bosch is relocating approximately 350 employees from its Automotive Aftermarket Division at 2800 S. 25th Ave. in Broadview, Ill. The new space includes conference and training rooms, private offices and open seating areas. The top floor boasts a 360-degree view of the Chicago skyline. Whitney Architects provided architectural services and Cushman & Wakefield provided project management services. Bosch, a supplier of technology and services, operates in four different business sectors: mobility solutions; industrial technology; consumer goods; and energy and building technology.

February 5, 2021

Development Hospitality Midwest Ohio

Shaner Hotels Opens 145-Room SpringHill Suites Property in Dublin, Ohio

by Kristin Harlow February 5, 2021

DUBLIN, OHIO — Shaner Hotels has opened a 145-room SpringHill Suites by Marriott hotel in Dublin’s Bridge Park. Shaner will operate the hotel in partnership with Crawford Hoying, a real estate developer headquartered in Central Ohio. The all-suite hotel features complimentary breakfast, a fitness center, lobby bar and 840 square feet of meeting space. Bridge Park is a 30-acre development along the Scioto River, about 18 miles northwest of Columbus, that features residential, retail, office and green space.

February 5, 2021

Development Multifamily Texas

Toll Brothers Completes 258-Unit Kilby Apartments in Frisco

by Taylor Williams February 5, 2021

FRISCO, TEXAS — Developer Toll Brothers Inc. has completed Kilby, a 258-unit apartment community located within the Frisco Square mixed-use development on the northern outskirts of Dallas. Units come in one- and two-bedroom floor plans and feature quartz countertops, stainless steel appliances and wood-style flooring. Amenities include a pool, outdoor kitchen and bar, clubroom, fitness center and a pet spa. KWA Construction served as the general contractor for the project. Rents start at approximately $1,380 per month for a one-bedroom unit, according to Apartments.com.

February 5, 2021

Development Multifamily Single-Family Rental Texas

Avanta Residential to Develop 216-Unit Single-Family Rental Community in Austin

by Taylor Williams February 5, 2021

AUSTIN, TEXAS — Avanta Residential, an affiliate of Hunt Cos., will develop a community of 216 single-family rental homes within The Colony, a 2,300-acre master-planned community in Austin. Communal amenities will include a clubhouse and pool, walking trails with fitness stations, open play areas and playgrounds. Avanta plans to break ground in the near future and to deliver the homes for rent in 2022. Alliance Bank of Arizona is providing construction financing for the project.

February 5, 2021

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