Development

Chelsea Investment, Sudberry Properties Open $155M Affordable Housing Development at Civita in San Diego

by Amy Works March 31, 2021

SAN DIEGO — Chelsea Investment Corp. and Sudberry Properties have opened Siena affordable apartments for seniors and Stylus affordable apartments for families in Civita urban village, located in the Mission Valley area of San Diego. The adjacent properties are located on Russell Park Way between Civita Boulevard and Friars Road. The $155 million project is one of the largest new affordable housing projects in San Diego County and brings the total of affordable apartments in Civita to 456. Civita is the redevelopment of a 79-year-old sand and gravel quarry into a sustainable, transit-oriented village. Siena features 103 apartments for seniors in earning 30 percent to 60 percent of area median income (AMI). The one- and two-bedroom units range from 540 square feet to 783 square feet, with rents starting at $468 per month. Stylus offers 203 two- and three-bedroom apartments for families earning 50 percent to 60 percent of AMI. The units range from 770 square feet to 1,040 square feet, with rents starting at $1,037 per month. Additionally, Stylus features 37,000 square feet of ground-floor retail space, which LA Fitness will occupy. Each apartment community has its own clubroom with kitchen, on-site management, computer lab, laundry facilities on each …

March 31, 2021

Development Industrial Washington Western

Bridge Development, PCCP Acquire South Tacoma Land Parcel for Bridge Point Lakewood 90 Industrial Development

by Amy Works March 31, 2021

LAKEWOOD, WASH. — Bridge Development Partners and Pacific Coast Capital Partners (PCCP) have purchased a 4.2-acre land site in Lakewood for the development of Bridge Point Lakewood 90, an industrial property in the South Tacoma submarket. The project team plans to break ground on the 92,445-square-foot building in May, with delivery expected in first-quarter 2022. The warehouse and distribution facility will feature a front-loading configuration, 32-foot clear ceiling heights, ESFR sprinklers, LED lighting, a 124-foot truck court, 14 exterior dock doors (four drive-in) and parking for 88 cars. Bill Condon and Matt McGregor of Colliers International represented the undisclosed seller in the transaction and will serve as leasing brokers for the project.

March 31, 2021

Arizona Development Industrial Western

VanTrust Enters Southern Arizona Market with Development of Two Amazon Sortation Centers in Tucson, Glendale

by Amy Works March 31, 2021

TUCSON AND GLENDALE, ARIZ. —VanTrust Real Estate has commenced construction of two Amazon sortation centers, including the VanTrust’s first Southern Arizona project in Tucson. The properties are a 270,000-square-foot facility on a 46-acre site at East Corona Road and South Alvernon Way in Tucson and a 270,000-square-foot asset on 42 acres at North Sarival Road and Maryland Avenue in Glendale. Irvine, Calif.-based HPA Architecture designed both of the facilities. The Tucson location will be Amazon’s fourth building to open in Southern Arizona and the first project in Pima County for VanTrust.

March 31, 2021

Development Florida Multifamily Southeast Top Stories

Melo Group Breaks Ground on 57-Story Downtown 1st Apartment Tower in Miami

by Kristin Harlow March 31, 2021

MIAMI — Melo Group has started construction of Downtown 1st, a transit-oriented multifamily development at 22 SW 1st St. in Miami’s central business district (CBD). The 57-story tower will include 560 market-rate apartments, 10,000 square feet of office space and 3,000 square feet of ground-floor retail space. Completion is slated for 2022. Downtown 1st will include one-, two- and three-bedroom apartments. Units will feature glass balconies with bay and city views. Building amenities will include two swimming pools, a fitness center, business center, social room/game room, 24-hour concierge/security and a multi-level garage with valet service. The site for Downtown 1st is in close proximity to Miami-Dade County’s Government Center, the Main Public Library, the Miami-Dade County Courthouse, Miami-Dade College’s Wolfson Campus, the New World School of the Arts and Brightline’s MiamiCentral Melo is also building Downtown 5th, twin 52-story apartment towers in Miami’s CBD. Pre-leasing is underway for the 1,042 units, which are slated for completion this summer. The firm is planning a third multifamily project nearby dubbed Downtown 6th that will total roughly 800 units. All told, Melo Group is expected to deliver nearly 2,500 residential units to Miami’s CBD over the next two years. “We’re bullish on downtown Miami’s CBD,” says Carlos Melo, co-principal of …

March 31, 2021

Alabama Development Multifamily Southeast

Novare Group, BCDC to Develop 290-Unit Apartment Community in Madison, Alabama

by Julia Sanders March 30, 2021

MADISON, ALA. — Novare Group and Batson-Cook Development Co. (BCDC) plan to develop a new apartment community in Madison. Synovus Bank provided construction financing to the co-developers, and Marble Capital provided equity for the 290-unit, mid-rise community. The Synovus loan was not disclosed but reportedly totaled $31.5 million. The unnamed project will include three, four-story residential buildings with two ground-floor retail spaces totaling 5,000 square feet. Each building will have conditioned corridors and elevators, and there will be 483 surface parking spaces and 25 detached garages. The property will offer studios, one- and two-bedroom units. Community amenities will include a resort-style swimming pool, private coworking lounge with private rooms and a conference room, fitness center with a yoga and spin room, dog park, clubroom with demo kitchen and fireplace and direct access to the Singing River Trail, a 70-mile-long Northern Alabama trail system. The project will also include eight live/work units. Located at 375 Lime Quarry Road, the community will be adjacent to Town Madison, a 563-acre mixed-use urban, walkable community. Niles Bolton Associates is the architect, Walter Schoel Engineering Co. is the civil engineer and Doster Construction Co. is the general contractor. Construction will commence in April, with the …

March 30, 2021

Arizona Development Multifamily Seniors Housing Western

Link Senior Development, Insight Senior Living Start Construction of Ativo Senior Living of Prescott Valley, Arizona

by Amy Works March 30, 2021

PRESCOTT VALLEY, ARIZ. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley. Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages. The community is scheduled to open in summer 2022. Link Senior Development leads the project as the developer. Ankrom Moisan is serving as the architect on the project, Seabold Construction as the general contractor and Insight Senior Living as the management company.

March 30, 2021

Development Florida Multifamily Southeast

Penler Breaks Ground on 288-Unit Apartment Community in Clermont, Florida

by Julia Sanders March 30, 2021

CLERMONT, FLA. — Penler, an Atlanta-based multifamily real estate investment and development firm, has broken ground on a 288-unit apartment community in Clermont, which is a western suburb of Orlando. Penler expects the project to be open for residents in the spring of 2022. Located directly behind the Publix at East Town Center on West Colonial Drive, the unnamed apartment community will feature one-, two- and three-bedroom floor plans within two-story buildings. The garden-style apartments will allow residents to enter their units directly from the outside without passing through hallways or common stairwells, which is meant to limit exposure to contagions, according to Penler. Outdoor amenities will include a lawn, pool deck, grilling area, dog park and a pond facing the South Lake Trail. The nine-mile trail connects to the 22-mile West Orange Trail. The community will also have a 6,000-square-foot clubhouse with a fitness center, resident lounge, leasing center and a bike shop with storage. Interiors will feature open floor plans, quartz countertops, stainless steel appliances, vinyl plank flooring, high-end lighting and washers and dryers. Average rents are projected to be $1,568 per month, with one-bedroom units starting at $1,367, two-bedrooms at $1,593 and three-bedrooms starting at $1,931.

March 30, 2021

Development Multifamily Seniors Housing Texas

Walker Real Estate, Chalk Hill Ventures Complete Active Adult Community in Georgetown, Texas

by Taylor Williams March 30, 2021

GEORGETOWN, TEXAS — Walker Real Estate and Chalk Hill Ventures have completed construction of an active adult community in Georgetown, a northern suburb of Austin. Located on a 12-acre site near Rabbit Hill, NorthStar Georgetown includes 298,800 square feet of active adult living comprising 210 apartments. Roscoe Property Management is the operator. Other project partners include Pi Architects, Square One Consultants, Pat Berry Design and Skybeck Construction.

March 30, 2021

Arizona Development Industrial Western

Wadsworth Development Purchases 10-Acre Site for Spec Industrial Project in Phoenix

by Amy Works March 30, 2021

PHOENIX — Wadsworth Development Group has acquired a 10-acre land parcel located at the southwest corner of 15th Avenue and Pinnacle Peak Road in the Deer Valley submarket of Phoenix. An undisclosed seller sold the property for $6.1 million. Wadsworth plans to develop a speculative industrial project offering 136,000 square feet spread across three buildings. Slated for completion this August, the facilities will feature 28-foot to 32-foot clear heights, grade-level loading, 227/480-volt power and above-market parking ratio. Robert Lundstedt, Skip Corley and Chase Heinemann of DAUM Commercial represented the seller and procured the buyer in the transaction.

March 30, 2021

Development Healthcare Loans Northeast Pennsylvania

JLL Arranges $220M Construction Loan for Downtown Philadelphia Healthcare Project

by Taylor Williams March 30, 2021

PHILADELPHIA — JLL has arranged a $220 million construction loan for a 452,000-square-foot healthcare project that will be located at 1101 Chestnut St. in downtown Philadelphia’s Center City district. Jefferson Health will occupy the 19-story ambulatory clinic, which is expected to be complete in the first quarter of 2024. Chad Orcutt and Jim Galbally of JLL arranged the debt through a syndicate of banks on behalf of the development team, a joint venture between National Real Estate Advisors LLC, Joss Realty Partners, SSH and Young Capital.

March 30, 2021

Newer Posts

Older Posts