NASHVILLE, TENN. — Bridgewood Property Co., a Houston-based developer of senior living properties, has acquired land at 3808 Cleghorn Ave. in Nashville for the development of a mid-rise, luxury retirement community. With guidance and input from zoning counsel; Tune, Entrekin & White PC; the Metropolitan Planning Department; and local neighborhood groups, the property received zoning approval in February 2021 to build 205 senior living units within a 12-story facility. The new Bridgewood community in the city’s Green Hills neighborhood will offer independent living, assisted living and memory care residences and will be located close to the neighborhoods of Belle Meade, Forest Hills and Hillwood. The purchase price of the land was not disclosed. ESa is the project architect of the unnamed community, and Catalyst Design Group will provide civil engineer services. The project’s construction timeline was not disclosed.
ALAMEDA, CALIF. — NorthMarq has arranged $166 million in joint venture equity and construction financing for The Launch, a 368-unit waterfront apartment community in Alameda. The Launch will be located at 1777 Clement Ave. at the northern edge of Alameda Island along the Oakland Estuary. The property is located 16 miles from San Francisco and 39 miles from San Jose. The project will feature a mix of market-rate, below-market-rate and work-live units along with an onsite leasing office. Amenities will include four interior courtyards with a pool, spa, dog runs, barbecue area, fire pits, lounge seating, rooftop decks, a fitness room and a club room. The Launch will have 416 off-street parking spots provided for residents, along with bike parking. The building offers a street-level connection from Clement to the Bay Trail and other marina amenities through a double-height, 20-foot-wide pedestrian corridor. John Kerslake, Briana Harney and Griff Whitlock of NorthMarq secured the debt and joint venture equity for the development of The Launch. The financing package totaled $166 million, of which $62 million is joint venture equity and $104 million is construction financing. Bay West Group/Pacific Development and the investor, an institutional real estate manager, formed a joint venture …
NEW CANEY, TEXAS — Locally based developer Signorelli Co. has revealed updated site plans for the Valley Ranch Medical District, a 200-acre campus within the firm’s Valley Ranch master-planned community located northeast of Houston in New Caney. Valley Ranch Medical District will consist of a 25-acre regional hospital with over 250 beds, a 13.7-acre medical school campus and a 21-acre medical research facility. A day surgery, pediatric clinic and approximately 28 acres devoted to medical offices will be included as well. The development will also include retail, restaurants and academic buildings. The detention and drainage for the entire development is scheduled to be complete in the next 120 days with site work for streets and utilities to follow immediately.
AUSTIN, TEXAS — A partnership between Austin-based Pearlstone Properties and New York-based ATCO Properties & Management will develop Vesper, a 284-unit multifamily project that will be located in Austin’s historic Rainey Street District. The 41-story building will offer an average unit size of 975 square feet, with 10 units being reserved for households earning up to 80 percent of the area median income. Amenities will include a rooftop clubhouse, pool, outdoor kitchen, fitness center, dog park and coworking space. STG Design is the project architect, and McCray & Co. is the interior designer. Wuest Group is the civil engineer, and AECOM Hunt is the general contractor. Construction is expected to begin over the summer and to be complete in the first quarter of 2024.
DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas. The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022. Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.
NAPERVILLE, ILL. — Lincoln Property Co. and Calamos Real Estate have selected McShane Construction Co. to build a 285-unit luxury apartment project at CityGate Centre in Naperville, a western suburb of Chicago. Known as Lincoln at CityGate, the four-story project will include a 430-space parking garage and a shell for a 37,893-square-foot rooftop event center. Residents will have access to amenities such as a lounge, library, fitness and yoga rooms, bike lounge, storage, dog spa and pool area. Completion is slated for February 2023. CallisonRTKL is the architect. CityGate Centre is home to a hotel, office space and bars and restaurants.
CARTERET, N.J. — Crow Holdings Industrial will develop a 1.2 million-square-foot speculative industrial facility on a 126-acre site in the Northern New Jersey community of Carteret. The development will consist of three buildings ranging in size from 335,000 to 480,000 square feet that will feature 40-foot clear heights, 174 dock doors, 140 trailer parking spaces and six drive-in ramps. Crow Holdings acquired the site from Rahway Arch Properties and plans to begin construction this summer. Cushman & Wakefield has been tapped to lease the project.
NEW ORLEANS — Lineage Logistics, an industrial REIT specializing in cold storage real estate, will build a $42 million expansion of its Jourdan Road cold storage facility at Port of New Orleans (Port NOLA). The State of Louisiana is providing $10 million in capital outlay funds, while Port NOLA is providing $2 million in funds. Michigan-based Lineage Logistics is investing the remaining $30 million in capital for the cold storage project, and also is expected to utilize Louisiana’s Quality Jobs Program. The cold storage complex is located along the Inner Harbor Navigation Canal. The development plans are for the complex to grow from 160,000 square feet to 304,000 square feet. Lineage Logistics plans to retain 188 existing jobs with the new project, while creating an estimated 50 new direct maritime and warehousing jobs. Louisiana Economic Development estimates the project will result in an additional 56 new indirect jobs, for a total of more than 100 new permanent jobs in the region. In 2020, Lineage Logistics’ facilities in New Orleans partnered with Port NOLA to export 380,000 tons of poultry to global markets. The development expansion will support imports of fresh produce as well. In 2012, Port NOLA and New Orleans …
SCHERTZ, TEXAS — Phelan-Bennett Development and its equity partner, Dallas-based Rosewood Property Co., have broken ground on Four Oaks Distribution Center, a 170,000-square-foot speculative industrial project in the northeastern San Antonio suburb of Schertz. The rear-load facility will be situated on a 9.5-acre site near Tri-County Industrial Park. Building features will include 30-foot clear heights, 32 dock doors and 147-foot truck court depths. Construction is expected to be complete in the fourth quarter. Calvin J. Coatsworth Architects is designing the facility, and R.C. Page Construction is serving as general contractor. JLL will handle leasing. Completion is tentatively slated for the fourth quarter.
KANSAS CITY, MO. — Hunt Midwest has unveiled plans to build out an additional 700,000 square feet of Class A space in SubTropolis, the world’s largest underground business complex, located in Kansas City. The expansion, built on a speculative basis, will provide tenants with space for warehousing and distribution operations. With more than 7 million square feet of industrial space, SubTropolis offers lower operations and leasing costs than traditional above-ground industrial buildings, according to Hunt Midwest. It also offers a naturally temperature-controlled climate, helpful for storing inventory with a limited lifespan or specific temperature needs. A substantial portion of the business complex is currently utilized for e-commerce; archival and document storage; pharmaceutical and animal health facilities; and food distribution.