Development

Krusinski Completes Construction of Chariot Logistics Center in Melrose Park, Illinois

by Kristin Harlow May 21, 2021

MELROSE PARK, ILL. — Krusinski Construction Co. has completed Chariot Logistics Center in Melrose Park, a western suburb of Chicago. The developer was Ridgeline Property Group. The three-building, 623,000-square-foot project is situated on the site of the former Maywood Park Racetrack, a horse racing venue that closed in 2015. All three buildings were leased to an e-commerce tenant prior to completion. Building 1 totals 236,000 square feet, Building 2 spans 252,000 square feet and Building 3 totals 135,000 square feet. Each building has a clear height of 32 feet. Demolition and site work took approximately six months. Krusinski also built new infrastructure elements, including roads, detention ponds, water mains, stormwater systems and utility lines. The project team included Harris Architects, Progressive AE and Kimley Horn.

May 21, 2021

Acquisitions Development Retail Utah Western

Midtown National Group Acquires Highland Marketplace in Utah, Plans 65,000 SF Development

by Amy Works May 20, 2021

HIGHLAND CITY, UTAH — Midtown National Group (MNG) has purchased Highland Marketplace shopping center and 9.2 acres of development land in Highland City. Located at 5300 W. 11000 North, the shopping center offers 40,000 square feet of existing retail space with storefronts ranging from 1,010 square feet to 5,641 square feet. A 65,000-square-foot athletic facility is slated to be built on the development land, which is on the north boundary of the shopping center. Lance Pendleton of Mountain West Commercial Real Estate handled the transaction and will manage the retail and office leasing opportunities for the property.

May 20, 2021

California Development Industrial Restaurant Retail Western

Shasta Management to Open 100-Acre Cannabis Retail, Manufacturing Project in Imperial County

by Amy Works May 20, 2021

HEBER, CALIF. — Shasta Management has signed a long-term lease for 100 acres of mixed-use space at the northeast corner of State Route 111 and East Heber Road in Imperial County’s Heber. The company plans to open a cannabis campus on the site with retail and manufacturing space. The first phase of the complex is scheduled to open in mid-June with a 9,000-square-foor retail center, including two 2,000-square-foot retail dispensaries along with a 5,000-square-foot consumption lounge and restaurant. The adult-only consumption lounge will feature a high-end glass shop, lounge areas, 85-inch TVs, gaming stations and vibe centers. Cannabis concierges will assist guests with purchases and products, as well as offer tasting flights and product education. Upon completion, the campus will be a fully integrated cannabis space with two indoor cultivation centers, totaling 37,000 square feet, and six greenhouse cultivation centers, totaling 60,000 square feet. The second phase, slated to open this fall, will include a 3,300-square-foot distribution center, 3,000 square feet of manufacturing space and several 25,000-square-foot greenhouses. Additionally, an adjacent building will house a quick-service restaurant, liquor lounge and a full-service restaurant. The campus’s name and branding, along with additional tenants, will be announced at a later date.

May 20, 2021

Alabama Development Multifamily Southeast

Daniel Corp. Breaks Ground on $60M Apartment Development in Huntsville

by Julia Sanders May 20, 2021

HUNTSVILLE, ALA. — Daniel Corp. has broken ground on a new $60 million luxury apartment development in east Huntsville known as Village at Hays Preserve. The project team includes Birmingham-based general contractor Doster Construction Co. and architectural firm Nelson Architects. The 336-unit Village at Hays Preserve will be a seven-building complex located on 22 acres along U.S. Highway 431. Community amenities will include a clubhouse, saltwater pool and an onsite nature trail within Hays Nature Preserve. Construction is expected to complete in early 2023 with first units becoming available in 2022. Doster Construction is also working on another development in downtown Huntsville known as Constellation, a mixed-use property. The company is working with developer Heartland Real Estate Partners LLC on that project.

May 20, 2021

Development Mixed-Use Texas

Partnership Breaks Ground on Phase I of 138-Acre Mixed-Use Project in Kyle, Texas

by Taylor Williams May 20, 2021

KYLE, TEXAS — A public-private partnership between Austin-based Momark Development, the City of Kyle and Cardinal MF LLC has broken ground on Phase I of The Brick and Mortar District, a 138-acre mixed-use project in Kyle, located south of Austin. The site is located within the 2,200-acre Plum Creek master-planned community. The 21-acre Phase I will comprise a 300-unit apartment building with 7,000 square feet of ground-floor retail, restaurant and coworking space, as well as two parks totaling 6.6 acres that will be connected by a walking trail with art installations. Amenities at the apartment community will include two pools and a fitness center. The first units are expected to be available for occupancy in March 2022. At full buildout, The Brick and Mortar District will consist of approximately 2,500 residential units, 150,000 square feet of retail space, 250,000 square feet of office space and 35 acres of parkland and trails.

May 20, 2021

Development Hospitality Texas

Hill Associates Completes 195-Room Canopy by Hilton RiverWalk Hotel in San Antonio

by Taylor Williams May 20, 2021

SAN ANTONIO — Developer Hill Associates has completed the Canopy by Hilton RiverWalk, a 195-room hotel in San Antonio. The 22-story boutique hotel is a redevelopment of a historic former bank building that was originally constructed in the late 19th century. Amenities include a guest lounge, fitness center, meeting rooms and a terrace bar that includes a suspended bottle rack and an interactive water feature. The design team included Gensler (architect of record), Lake Flato Architects, Mark Zeff Design (interior) and TBG Partners (landscape).

May 20, 2021

Acquisitions Development Multifamily Texas

Origin Investments Buys $7.2M Preferred Equity Stake in Multifamily Project Near Fort Worth

by Taylor Williams May 20, 2021

MANSFIELD, TEXAS — Chicago-based Origin Investments has purchased a $7.2 million preferred equity stake from in Haven at Mansfield, a 257-unit multifamily project under construction on the southern outskirts of Fort Worth, from Guefen Development Partners. Slated for a May 2022 completion, Haven at Mansfield will offer units with granite countertops, stainless steel appliances and full-size washers and dryers. Amenities will include a pool, fitness center, clubhouse and an indoor/outdoor social lounge.

May 20, 2021

Development Multifamily New Jersey Northeast

Accurate Builders & Developers Begins Leasing 256-Unit Apartment Complex in Raritan, New Jersey

by Taylor Williams May 20, 2021

RARITAN, N.J. — New Jersey-based Accurate Builders & Developers has begun leasing Crossings at Raritan Station, a 256-unit apartment complex in Raritan, located in the northern-central part of the Garden State. The transit-oriented property features studio, one- and two-bedroom units with quartz countertops, stainless steel appliances, tile backsplashes and modern espresso cabinets. Private balconies are also available in select residences. Amenities include a coffee bar, fitness center, tennis court, basketball court, dog park, meditation garden, outdoor grilling areas and Amazon package lockers. Monthly rental rates start at $1,578 for a studio unit.

May 20, 2021

Development Midwest Minnesota Multifamily

Kraus-Anderson Breaks Ground on $80M Apartment Tower in Minneapolis

by Kristin Harlow May 20, 2021

MINNEAPOLIS — Kraus-Anderson has broken ground on Moment, an $80 million apartment tower in downtown Minneapolis. The developer, Sherman Associates, acquired the site from Thrivent Financial, whose headquarters recently opened nearby. Designed by ESG Architects, the 222-unit project will also include 15,300 square feet of commercial space. The second floor of the 10-story building will be home to Firefighters for Healings and its Transitional Healing Center for injured firefighters and burn victims. The center will provide 12 suites for families awaiting a patient in the hospital or discharged patients. Amenities will include a pool, sauna, sports simulator, work-from-home space and rooftop lounge. Two solar gardens will offset the building’s energy usage. Completion is slated for fall 2022. “We were inspired by the people likely to live there, the healthcare workers at the neighboring Hennepin Healthcare Center,” says Valerie Doleman, senior vice president with Sherman. “We designed an environment that encourages people to celebrate moments of joy, find moments of peace, moments of pause and share moments with each other. We wanted to encourage people to live in the moment.”

May 20, 2021

Development Midwest Multifamily Wisconsin

Wingspan Development Group, BCDC Begin Development of 300-Unit Apartment Project Near Milwaukee

by Kristin Harlow May 20, 2021

OAK CREEK, WIS. — Wingspan Development Group and Batson-Cook Development Co. (BCDC) have begun development of Hub13, a 300-unit apartment project in Oak Creek, which is located just south of Milwaukee. The 34-acre garden-style community will be situated at 781 S. 13th St. Plans call for nine buildings with units ranging in size from studios to three bedrooms. Amenities will include a fitness center, yoga studio, clubhouse, pool, Zen garden, dog park, coworking space, wine room and package system. The property will border an 11-acre nature preserve. First Merchants Bank provided project financing. JLA Architects is the architect, Ayres Associates is the civil engineer and Nicholas & Associates is the general contractor. The first units are scheduled for completion by the end of the year.

May 20, 2021

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