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Development

DevelopmentIndianaIndustrialMidwest

Mohr Capital Begins Construction on 827,000 SF Spec Industrial Development in Metro Indianapolis

by Kristin Harlow

WHITELAND, IND. — Mohr Capital, a Dallas-based privately held real estate investment firm, has started construction on a new speculative industrial development within Mohr Logistics Park in Whiteland. The 827,000-square-foot development will feature a clear height of 32 feet. Mohr is also scheduled to break ground on a 1 million-square-foot project within the logistics park in the next 60 days. The 827,000-square-foot building is slated for completion in October, while the 1 million-square-foot project is scheduled to wrap up in January.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

McHugh Construction, Brown & Momen Break Ground on $17.1M Mixed-Income Development in Chicago

by Kristin Harlow

CHICAGO — James McHugh Construction Co. and Brown & Momen Inc. have broken ground on 508 Pershing at Oakwood Shores, a 53-unit mixed-income development in Chicago’s Bronzeville neighborhood. As part of a public-private partnership led by The Community Builders, the residential and retail building marks the latest phase of the larger Oakwood Shores project, which will span more than 100 acres. Located at 508 E. Pershing Road, the four-story building will include 50 one-bedroom units and three two-bedroom units. There will be 7,000 square feet of amenity space and management offices as well as 3,500 square feet of street-level retail space. Completion of the $17.1 million project is slated for February 2022. Nia Architects and Antunovich Associates are the architects. Of the 53 units, 36 will be low-income housing tax credit units for households earning up to 80 percent of the area median income. The remaining 17 units will be market rate. National Affordable Housing Trust provided project funding in partnership with investor UnitedHealth Group. The project is situated on land formerly occupied by the Chicago Housing Authority’s Ida B. Wells, Madden Park and Clarence Darrow Homes. All told, Oakwood Shores will be home to more than 2,000 rental and …

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DevelopmentIllinoisMidwestRestaurantRetail

The Luminary Opens at Office Building in Downtown Chicago

by Kristin Harlow

CHICAGO — Food and beverage concept The Luminary has opened at 303 E. Wacker, a 30-story office building in Chicago’s East Loop. The café will offer coffee, tea, pastries, salads, sandwiches and snacks. Cocktails and chef-crafted bites will follow later this year. Infuse Hospitality will operate The Luminary. Infuse is also the team behind Fairgrounds Craft Coffee & Tea. Beacon Capital Partners, the owner of 303 E. Wacker, recently completed a renovation of the 944,000-square-foot building. Designed by architectural firm Norman Kelley, the lobby design now features new flooring, seating, a lighting installation and bar area.

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Abrams Hall Senior Apartments
Affordable HousingDevelopmentDistrict of ColumbiaLoansMultifamilySeniors HousingSoutheast

DHCD Provides Construction Financing for 54-Unit Affordable Seniors Housing Project in D.C.

by Julia Sanders

WASHINGTON, D.C. — The Department of Housing and Community Development (DHCD) has provided financing from local and federal resources to develop 54 affordable housing units in Wards 4 at the Abrams Hall Senior Apartments in Washington, D.C. Abrams Hall Senior LP, a joint venture between Urban Atlantic and nonprofit organization Housing Up, received $2.4 million from the District’s Housing Production Trust Fund (HPTF) to develop the assisted living facility located at 1320 Main Drive NW. The project also received a $1.1 million allocation of 9 percent low income housing tax credits (LIHTC) from DHCD. The project will receive an annual subsidy from the Local Rent Supplement Program, which is administered by the D.C. Housing Authority (DCHA). All units at Abrams Hall Senior Apartments will be available for low-income seniors — those with annual household income at or below $26,500 — who are formerly homeless and have a need for assisted living services. Additionally, the residents will access Medicaid subsidies through the Department of Health Care Finance (DHCF). The Abrams Hall Senior Apartments building will feature studio apartments to accommodate assisted living facilities for seniors who may require medical, dental, rehabilitative and counseling services, along with 24-hour supervision to ensure resident …

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Office-CityLine-Sunnyvale-CA
CaliforniaDevelopmentOfficeRestaurantRetailWestern

STC Ventures to Develop 500,000 SF of Office Space in Downtown Sunnyvale, California

by Amy Works

SUNNYVALE, CALIF. — STC Ventures, a joint venture between Sares Regis Group of Northern California and Hunter Properties, received approval from the Sunnyvale Planning Commission to develop two office buildings totaling 500,000 square feet on the former Macy’s parcel in downtown Sunnyvale. Situated between Taaffe and Murphy avenues, the buildings will be separated by a public pedestrian plaza and each offer 250,000 square feet of office space, 25,000 square feet of ground-level retail space for restaurant and entertainment uses and 13,000 square feet of outdoor space, including terraces and step backs. Additionally, the adjacent properties will offer an underground parking structure with 786 spaces. The office buildings are designed for post-COVID work environments and will feature mechanical systems that will provide employees access to fresh air and ample outdoor space. The buildings are also targeting LEED Gold certification. The office project is the latest portion of the second phase of CityLine Sunnyvale, the redevelopment of four parcels in Sunnyvale’s downtown core that will add residences, ground-level retail and office space. The development team recently received approval for a 12-story mixed-use project at 200 S. Taaffe St. that will include 479 residences, 30,000 square feet of retail space and a public …

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DevelopmentMixed-UseTexas

GTB Development Nears Start of Phase II of 120-Acre Mixed-Use Project in Metro Austin

by Taylor Williams

GEORGETOWN, TEXAS — Temple, Texas-based GTB Development will soon begin construction on Phase II of Highland Village, a 120-acre mixed-use project that will be located in the northern Austin suburb of Georgetown. Phase II of the development includes 299 single-family homes and a 14.8-acre (approximately 300 to 325 units) multifamily community, as well as unspecified amounts of retail, office and medical office space. The development team, which includes development manager American Southwest Co., expects to complete infrastructure hookups by the end of the second quarter of 2022. Phase I of the project began in July 2019 and ended in April 2020 with the delivery of 49 single-family residences known as The Oaks at Highland Village.  

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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Bridge Development Acquires Site in Downers Grove for Phase III of Industrial Project

by Kristin Harlow

DOWNERS GROVE, ILL. — Bridge Development Partners LLC has acquired a 9.2-acre site at 5300 Belmont Road in Downers Grove, a southwest suburb of Chicago. Bridge will develop Phase III of Bridge Point Downers Grove at the site. Construction is scheduled to begin this summer following the demolition of an existing building. Plans call for a 126,445-square-foot industrial building with a clear height of 32 feet, 13 exterior dock doors, two drive-in doors, a 130-foot truck court and parking for 137 cars. Completion is slated for the fourth quarter. Sean Henrick and David Friedland of Cushman & Wakefield represented Bridge in the transaction. CBRE represented the undisclosed seller.

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3-Times-Square
DevelopmentNew YorkNortheastOffice

Rudin Family Launches Renovation at 3 Times Square Office Building in Manhattan

by Taylor Williams

NEW YORK CITY — The Rudin Family, a locally based owner-operator, has launched a multimillion-dollar capital improvement program at 3 Times Square, a 30-story office tower in Midtown Manhattan. The program will include the creation of a new three-story lobby, touchless entry mechanisms, upgraded elevator systems and dedicated amenity space on the 16th floor. The new amenity deck will feature a coffee bar, fitness center with locker rooms, outdoor dining spaces and a conference and event center that can hold up to 220 people. The 885,000-square-foot building was originally completed in 2001 as the North American headquarters of Reuters Group PLC. Rudin has tapped FXCollaborative, which originally designed the building, as the project architect. Cushman & Wakefield will handle leasing of the redeveloped building. An expected completion date was not released.

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CaliforniaCivicDevelopmentLife SciencesOfficeTop StoriesWestern

BioMed Realty Wins Municipal Approval for 910,000 SF Expansion of Life Sciences Campus in Bay Area

by John Nelson

EMERYVILLE, CALIF. — The City of Emeryville in Northern California’s Bay Area has approved BioMed Realty’s proposal to expand its Emeryville Center of Innovation life sciences campus. The 12-acre property is located about four miles north of Oakland and 10 miles east of San Francisco. The expansion will add 910,000 square feet of Class A laboratory and office space to the development. Phase I of the expansion, which BioMed Realty expects to begin in 2022, will span 265,000 square feet. “We are grateful for our partnership with the City of Emeryville to develop purpose-built lab research facilities that support the growth of the industry and help our business partners attract and retain talent,” says Salil Payappilly, vice president of BioMed Realty. BioMed Realty is currently modernizing an existing 303,000-square-foot building at Emeryville Center of Innovation. The building, which is not part of the newly announced expansion, will be fully occupied by Zymergen Inc., a biomanufacturing company and Emeryville’s largest employer. Zymergen signed a lease in 2019 for its new corporate headquarters and to accommodate the expansion of its operations. BioMed Realty expects to complete Zymergen’s building in early 2023. Emeryville Mayor Dianne Martinez says that the origin of the life …

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DevelopmentMarylandMixed-UseMultifamilyRetailSoutheast

Brandywine Realty Trust, Terrapin Development to Build $300M Mixed-Use Neighborhood on UM Campus in College Park

by Julia Sanders

COLLEGE PARK, MD. — Terrapin Development Co. (TDC), in partnership with the University of Maryland (UM) College Park, has entered into an exclusive development agreement with Brandywine Realty Trust for an upcoming mixed-use project on the UM campus. The Philadelphia-based REIT will develop a mixed-use neighborhood spanning five acres in College Park, within UM’s Discovery District. The development project is set to cost over $300 million. The Discovery District’s development will feature 550,000 square feet of Class A workspaces encompassing research, office, collaboration and retail space, as well as 200 to 250 multifamily residential units. The property will be located close to mass transit and major roadways and will serve as a natural extension of UM’s research enterprise. The Discovery District will provide pedestrian movement along the Baltimore Avenue corridor and campus. The project is adjacent to the new Purple Line, offering connections to Metro light rail system. The development has set forth sustainability goals, including LEED classification, to responsibly develop the land. The development plan will be executed over four phases. Baltimore-based Ayers Saint Gross and Michael Vergason Landscape Architects are the development’s architects.

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