DETROIT — HOK has acquired Rossetti, a Detroit-based architecture firm known for its sports venue design and renovation work. HOK says the merger strengthens its position as one of the world’s leading sports, recreation and entertainment design practices. The combined firm will operate as HOK + Rossetti. Led by Matt Rossetti, the Rossetti team will continue to operate from Detroit, a market where HOK has sought a physical presence and where Rossetti has operated for 57 years. Rossetti’s portfolio includes the Formula 1 Crypto.com Miami Grand Prix, the USTA Billie Jean King National Tennis Center and Detroit’s Ford Field, with a significant reimagination of USTA’s Arthur Ashe Stadium and Cosm Detroit currently underway. The combined HOK + Rossetti sports, recreation and entertainment practice will be led by directors Nate Appleman, Shannon Bartch, Amy Chase, John Rhodes, Matt Rossetti and Rashed Singaby. HOK, a global design, architecture, engineering and planning firm with 27 offices, designed Little Caesars Arena and the forthcoming home of Detroit City Football Club.
CHICAGO — McHugh Construction and joint venture partner Powers & Sons Construction, along with The Community Builders (TCB), have broken ground on Southbridge 1C, the latest phase in the redevelopment of the former Harold Ickes Homes at 2305 S. State St. in Chicago’s South Loop. The 12-story building will include 80 market-rate and affordable housing units in a mix of studio, one-bedroom and two-bedroom layouts. Located adjacent to the Cermak-McCormick Place CTA Green Line station, the development will feature a 1,500-square-foot, street-level retail space alongside a resident lobby. The first floor will include a bike room with 80 spaces, a dog wash station, package room, leasing office and back-of-house areas. Amenity spaces on the 12th floor will include a fitness area, outdoor terrace and resident storage. Developed by TCB and supported by the Chicago Department of Housing, Chicago Housing Authority (CHA), Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development, the 76,000-square-foot project will receive $11.9 million in tax-increment financing assistance. Gensler designed the project. Construction is slated for completion in June 2027. Southbridge 1C will include 44 affordable housing units, representing 55 percent of the total unit count. Fifteen residences will be designated for families …
LINCOLN, NEB. — Lument has provided a $21.2 million HUD/FHA Section 232/223(f) Express Lane loan for the refinancing of Pemberly Place Senior Living, a seniors housing community in Lincoln with 120 units and a licensed capacity for 132. Quintin Harris and Patrick Roan of Lument originated the financing, which features a fixed interest rate and 35-year term. The refinance pays off existing bank debt from a construction loan originated by Lument several years ago. Lument also helped structure a shareholder note to reimburse the borrower for previous capital expenditures. Built in 2017, Pemberly Place Senior Living features assisted living, independent living and memory care options. Locally owned and operated, the community has a partnership with MJ Senior Living, a Nebraska-based management company.
AURORA, ILL. — The Missner Group has acquired 657 Wolverine Drive, a 58,236-square-foot industrial building in Aurora. Located on 5.5 acres, the multi-tenant property features a clear height of 18 feet, multiple drive-in doors and loading docks, heavy power and ample parking. Built in 1997, the asset also offers outside storage. Missner plans to implement a targeted value-add program, including tenant build-outs, renovation of existing office space and structural improvements. Two units are currently available for lease, representing a total of 25,267 square feet. Steve Connolly and Mark Moran of NAI Hiffman represented the undisclosed seller, while Andrew Maletich of Cawley CRE represented the buyer. Maletich and colleague Matt Garland have been retained as the leasing brokers.
DETROIT — Barton Malow has been selected as the construction manager for Detroit City Football Club’s new home stadium, AlumniFi Field. The privately funded, 15,00-seat venue will be built between Detroit’s Corktown and Mexicantown neighborhoods. Founded in 2012, Detroit City FC’s current home is Keyworth Stadium, a 7,000-seat venue. AlumniFi Field will be designed to evoke the atmosphere of European football stadiums, featuring a natural grass pitch and three permanent grandstands with canopies. The soccer stadium is also envisioned to host other sporting events, concerts and community programming. AlumniFi Field will rise on the site of the former Southwest Detroit Hospital, a Black-owned hospital that opened in 1973 and closed in 2006. It remained vacant until its demolition earlier this year. Barton Malow will work with Detroit City FC to incorporate a permanent installation in the new stadium that honors the former hospital’s legacy and contributions to the Detroit community. Site work for the project has commenced. Foundation work, structural steel installation and interior build-out will follow.
WILMETTE, ILL. — Walker & Dunlop has provided nearly $60 million in construction take-out financing for Optima Verdana, a luxury multifamily community in Wilmette developed by Optima. Dave Hendrickson, Pat Modig, Jonathan Paine, Mo Beler, Will Crittenberger and Philippe LaPointe of Walker & Dunlop originated the Freddie Mac loan, which features a fixed interest rate and interest-only payments. Completed in 2023, Optima Verdana features 100 apartment units and 5,900 square feet of retail space. Residences average 1,499 square feet.
EDEN PRAIRIE, MINN. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center in Eden Prairie anchored by grocer Lunds & Byerlys. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties. Phillips Edison & Co. Inc. was the buyer. Prairieview Center was built in 1986 and renovated in 2018. Additional tenants include Chase Bank, Culver’s and Starbucks.
ELK GROVE VILLAGE, ILL. — Nicholas & Associates and Wingspan Development Group of the Nicholas Family of Cos. have opened the initial commercial phase of The VUE, a 10-acre mixed-use development in Elk Grove Village. The retail spaces are home to Tensuke Market and Food Court, 7 Mile Cycles, Jarosch Bakery and Vini’s Pizza. Plans for The VUE include a 271-unit apartment community, 16 rental townhomes, a multi-story clubhouse with a pool and other amenities for residents and 52,000 square feet of retail space. A newly constructed and nearly completed pedestrian overpass will connect the development with the 3,500-acre Ned Brown Forest Preserve.
ROSEMONT, ILL. — Claire’s Holdings LLC, a global accessories retailer and portfolio company of Ames Watson, has signed a 43,200-square-foot office headquarters lease at Columbia Centre III in the Chicago suburb of Rosemont. Claire’s will relocate its headquarters from Hoffman Estates, Ill., with the new space expected to open in early 2027. John Clark and Sean Moran of Newmark and Spence Mehl of RCS Real Estate Advisors represented the tenant. Joe Stevens and Steve Degodny of Transwestern represented the undisclosed landlord. Located at 9295 W. Bryn Mawr Ave., Columbia Centre III is a nine-story office building totaling 238,696 square feet. Amenities include a fitness center, onsite dining and covered parking.
BLOOMINGTON, IND. — Knighthead Funding has provided a $39.75 million first mortgage loan to refinance Stadium Crossing, a 226-unit, 734-bed student housing property in Bloomington located directly across from Indiana University Memorial Stadium. The borrower, Varsity Properties, has owned and operated the community for many years. Stadium Crossing was built in the 1980s.