Development

Alliance Residential Starts Construction of 136-Unit Seniors Housing Project in Bellevue, Washington

by Amy Works July 13, 2021

BELLEVUE, WASH. — Alliance Residential has started construction of Holden of Bellevue, the first piece of a three-phase multifamily project in downtown Bellevue. Holden will rise seven stories and feature 110 assisted living units and 26 memory care units. It is scheduled to open in late fall 2021. The second phase of the overall project will be an independent living building, followed by standard multifamily in the third phase. Its location is in close proximity to the city’s restaurants, boutiques, art galleries, public parks and museums. Milestone Retirement Communities will operate Holden of Bellevue upon opening.

July 13, 2021

California Development Hospitality Mixed-Use Top Stories Western

Alagem Capital, Cain International Unveil Plans for $2B One Beverly Hills Project

by John Nelson July 13, 2021

BEVERLY HILLS, CALIF. — Alagem Capital Group and Cain International have unveiled plans for One Beverly Hills, a 17.5-acre “urban resort” that the developers estimate will value $2 billion upon completion. The project will include two new condominium towers, an eight-acre botanical garden and a new 10-story tower comprising 42 luxury hotel rooms, 37 shared-ownership condominiums and a fine dining restaurant. One Beverly Hills also includes the revitalization of the adjacent Beverly Hilton and Waldorf Astoria Beverly Hills, two luxury hotels that Alagem Capital and Cain purchased in 2018. In June, the Beverly Hills City Council approved the project by a vote of 4 to 1. The historic development agreement between the developers and the City of Beverly Hills guarantees a $100 million public benefit fee, which Alagem Capital and Cain will pay over the course of eight years, according to the Beverly Hills Courier. None of the condominiums will be reserved for affordable housing, according to local and national media outlets. One Beverly Hills’ hotel-condo tower will include a private members club open to residents and a select number of non-residents. Members will have access to 130,000 square feet of amenities space over three levels that will be divided …

July 13, 2021

Civic Development Massachusetts Northeast

Shawmut Completes $120M Renovation of Smith College Library in Northampton, Massachusetts

by Taylor Williams July 12, 2021

NORTHAMPTON, MASS. — Shawmut Design & Construction has completed the $120 million renovation of the historic Neilson Library at Smith College in Northampton. The 200,000-square-foot building originally opened in 1909. The library now houses an innovation and entrepreneurship center, as well as a series of classroom spaces, a reading room, private study areas, sunken courtyard and event spaces including an outdoor amphitheater. The library also features a podcast studio and other labs for producing digital content. Renovations began in 2017. Project partners included architectural designer Maya Lin and principal architect Shepley Bulfinch.

July 12, 2021

Development Multifamily New Jersey Northeast

J.G. Petrucci to Develop 172-Unit Apartment Community in East Orange, New Jersey

by Taylor Williams July 12, 2021

EAST ORANGE, N.J. — Developer J.G. Petrucci Co. Inc. will build The Station at East Orange, a 172-unit apartment community that will be located just west of Newark. The property will feature one-, two- and three-bedroom units, 30 percent of which will be reserved as affordable housing, with kitchen islands and stainless steel countertops. In addition, The Station at East Orange will include 3,477 square feet of retail space and amenities such as a fitness center, business center and an art gallery. J.G. Petrucci is developing the project in partnership with TD+ Partners and the City of East Orange. A firm construction timeline is still being established.

July 12, 2021

Development Multifamily New York Northeast Seniors Housing

Capitol Seniors Housing Opens 80-Unit Assisted Living Community in New City, New York

by Taylor Williams July 12, 2021

NEW CITY, N.Y. — Capitol Seniors Housing has opened Atria New City, an assisted living and memory care community in New City, located approximately 30 miles north of Manhattan. The three-story, 70,000-square-foot community features 80 residential apartments. Atria Senior Living will operate the property. Meyer Senior Living Studio designed the project.

July 12, 2021

Development Industrial Midwest Missouri

TSI Moves into New 40,000 SF Headquarters in St. Charles, Missouri

by Kristin Harlow July 12, 2021

ST. CHARLES, MO. — TSI Global Cos. LLC has moved into its new 40,000-square-foot headquarters in St. Charles, a northwest suburb of St. Louis. The technology company provides custom-built audio-visual systems, infrastructure cabling, electric and security systems. The project team included Al Droste & Sons Construction, Gray Design Group and developer 370 Tech Center LLC. TSI performed the cabling, technology and electrical systems engineering and installment. TSI also plans to open an office in Charlotte, N.C. in effort to facilitate major clients outside of the Midwest area.

July 12, 2021

Development Georgia Multifamily Southeast

McShane Completes Construction of 315-Unit Archer Multifamily Community in Acworth, Georgia

by Julia Sanders July 12, 2021

ACWORTH, GA. — McShane Construction Co. has completed construction at The Archer, a 315-unit apartment community in Acworth. The property was built on behalf of RangeWater Real Estate, a real estate company based in Atlanta. The Archer features 12 four-story, garden-style buildings with one- to three-bedroom unit options, as well as granite countertops, stainless steel appliances, in-unit washers/dryers and private balconies. Community amenities include a central clubhouse, fitness center, social room with a game table, an indoor/outdoor double-sided fireplace, swimming pool, pool deck with private cabanas, an outdoor bar with a kitchen and grilling area and a trellised fire pit area. Located northwest of Atlanta in Cobb County, the development offers access to Interstate 75. Poole & Poole Architecture provided the architectural services for The Archer. McShane Construction Co. is a construction firm based in Rosemont, Ill.

July 12, 2021

Acquisitions Development Mixed-Use Multifamily North Carolina Office Restaurant Retail Southeast

SLI Capital, Regent Acquire 15 Parcels in Raleigh for Phase II of East End Market

by Julia Sanders July 9, 2021

RALEIGH, N.C. — A joint venture between SLI Capital and Regent Partners has acquired 15 parcels totaling approximately 10 acres in Raleigh for the second phase of the East End Market mixed-use development. Seven undisclosed entities sold the 15 parcels to the joint venture for a total of approximately $18 million. Located on Whitaker Mill Road between Wake Forest Road and Atlantic Avenue, East End Market is a mixed-use, food and beverage destination that will offer a collection of restaurants, apartments, shops and office spaces. Phase I of East End Market began in March and is expected to be completed by the end of the year with the first tenants expected to move in shortly thereafter. The tenant lineup includes East End Bistro, a French chop house by acclaimed restaurateur Giorgios Bakatsias; Shady Grove Cider Co., Raleigh’s first cidery; Common Desk, a Texas-based coworking brand; and local businesses Campion Capital and Piedmont Capital. Phase II will include new construction featuring 235,000 square feet of office space, 40,000 square feet of retail and food and beverage and 465 apartments. The project is fully capitalized via a joint venture with Koch Real Estate Investments. Construction will commence without any preleasing, according to …

July 9, 2021

Connecticut Development Life Sciences Loans Northeast Office Top Stories

CBRE Arranges $180M Construction Loan for Life Sciences Development in New Haven, Connecticut

by Julia Sanders July 9, 2021

NEW HAVEN, CONN. — CBRE has arranged a $180 million construction loan for the development of a life sciences facility at 101 College Street in New Haven. The project will total 525,000 square feet and include office and biomedical lab space. The property is already over 70 percent pre-leased to tenants including BioLabs and Arvinas, which will move its headquarters to the property. Yale University will serve as the anchor tenant, occupying 125,000 square feet of space in the building and three of its 10 floors, according to Yale News. The lobby and first floor will include a combination of event space and retail offerings. A commercial bank led the financing with participation from Webster Bank. Heather Brown, Robert Borden and Grace Keating of CBRE arranged the loan on behalf of the developers on the project, Harrison Street and Winstanley Enterprises. “Arvinas’ exciting pipeline of therapies targeting oncology and neurodegeneration represents the type of groundbreaking research being done in Connecticut and New Haven, and we look forward to supporting their continued growth,” says Carter Winstanley, a principal at Winstanley Enterprises. “We are also honored that Yale has made a significant commitment within the building to continue its cutting-edge discovery and …

July 9, 2021

Development Industrial Midwest Minnesota

Opus to Build 35,600 SF Industrial Expansion for North Star Sheets Near St. Paul

by Kristin Harlow July 9, 2021

COTTAGE GROVE, MINN. — The Opus Group will build a 35,600-square-foot expansion for North Star Sheets at Southeast Industrial Park in Cottage Grove, about 10 miles south of St. Paul. North Star Sheets, a producer of corrugated paper products for manufacturing needs, currently occupies a 168,000-square-foot building on 16 acres. The company will use the expansion to increase capacity and add another rail spur to enhance its rail service infrastructure. Opus will serve as developer, design-builder, architect and structural engineer. Hillcrest Development LLLP owns Southeast Industrial Park. Eric Rossbach and Andy Heieie of Colliers International are the leasing agents for the property.

July 9, 2021

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