CELINA, TEXAS — Locally based firm Centurion American Development Group will develop Legacy Hills, a 3,200-acre mixed-use project that will be located in Celina, about 45 miles north of Dallas. Preliminary plans call for 7,000 single-family homes, 4,100 multifamily units, 100 acres of commercial development, a 27-acre sports park, a golf course and walking trails. In addition, the site includes two 12-acre parcels that will house future schools within the Celina Independent School District. Construction of the first phase is scheduled to begin in late 2021.
DALLAS — AT&T has opened Discovery District, a project that transformed the telecommunications giant’s headquarters in downtown Dallas into a mixed-use destination with retail, restaurant, office and entertainment uses. Designed by global architecture firm Gensler, AT&T Discovery District spans 6.5 acres and includes multiple art installations, as well as interactive features for customers. The Beck Group served as the general contractor of the project, which was conceived more than five years ago.
NASHVILLE, TENN. — Rethink Community, a New York-based real estate development firm and investment manager of social impact projects in urban areas, purchased 21 acres on Nashville’s east side for a new development dubbed Rethink Community – Nashville. The site is two miles north of downtown Nashville and a half-mile from Oracle Corp.’s upcoming 65-acre campus. Rethink Community, a subsidiary of Rethink Capital Partners and a division of Seavest Investment Group, plans to build workforce apartments, for-sale townhomes, lofts and neighborhood retail and dining at the site, as well as a one-acre public park. Once complete, the firm plans to deliver programs and services for residents. BlackBirch Capital acted as exclusive advisor to Rethink Community on the capital raise for the project. In addition to Nashville, Rethink Community has projects in the development pipeline in Atlanta, Cleveland, Durham and Portland.
CAPE CORAL, FLA. — Flaherty & Collins Properties plans to develop The Cove at 47th, a $66 million mixed-use multifamily project in downtown Cape Coral. The property will include 285 luxury apartments and 19,000 square feet of commercial space on the ground level, as well as a rooftop pool and lounge. The Cove will prominently feature studios, one- and two-bedroom apartments to attract younger renters. The Cape Coral Community Redevelopment Agency recently approved the development, which is a public-private partnership between the City of Cape Coral and Flaherty & Collins. As part of the agreement, the city is contributing $20 million in sewage upgrades and $10.4 million in incentives to fund the construction of a 525-space parking garage available for public use. The 3.9-acre site is situated at the corner of Cape Coral Parkway East and SE 8th Court near Corksoakers restaurant. Flaherty & Collins purchased the land from an entity doing business as Downtown Village Square LLC. Paulette duCharme Hansen of Miloff Aubuchon Realty Group negotiated the land sale. Flaherty & Collins is aiming to break ground in early 2022, with first units coming in spring 2023. Full project completion is estimated for fall 2023.
SANDY SPRINGS, GA. — Kaplan Residential, a multifamily developer with offices in Atlanta and Miami, has sold Square One, a 203-unit mixed-use multifamily community in Sandy Springs. Atlanta-based Audubon purchased Square One for $59.2 million. Located at 6050 Roswell Road, Square One encompasses studios starting from 620 square feet to two-bedroom units spanning 1,361 square feet. Unit interiors feature stainless steel appliances, full-size washers and dryers, nine- and 10-foot ceilings, granite kitchen islands, subway tile in kitchens and bathrooms and walk-in closets. Community amenities include a rooftop bar and pool, coffee bar, onsite dog park, preferred parking for energy-efficient cars and a fitness center. The property also includes 10,000 square feet of retail space on the ground level leased to a wax salon, nail salon, gym and Vietnamese restaurant. George Morgan and Candy Morgan of George S. Morgan Development Co. Inc. partnered with Kaplan Residential for the entirety of the project. The firm enlisted architectural firm Niles Bolton Associates to design the shared amenity spaces, units and overall structure. Robert Stickel of Cushman & Wakefield represented the buyer in the transaction. Steven Kennedy of Seyfarth Shaw represented the seller. Kaplan Residential opened the five-story property, which sits at the corner …
LONG BEACH, CALIF. — Holland Partner Group and architecture firm MVE + Partners have completed Volta on Pine, a 285,415-square-foot, mixed-use, infill development in downtown Long Beach. Located at 635 Pine Ave., Volta on Pine features 271 apartments, 1,300 square feet of ground-floor retail space, subterranean parking and extensive sidewalk space. Residential units range from 629 square feet to 1,400 square feet in a mix of studio, one-, two- and three-bedroom layouts. Eleven apartments are dedicated as median-income affordable housing. Apartments include custom-finish packages, keyless entry, Nest thermostats, LED-lit vanity mirrors, soft-close drawers and cabinets, in-home washers/dryers, high-end kitchen counters and appliances, solar mesh roller shades, soaking tubs, and large balconies and windows. Community amenities include a rooftop terrace and sky lounge, fitness center, swimming pool with sun deck, hot tub, outdoor grills and firepits, parcel lockers, electric vehicle charging stations, bike storage and three levels of subterranean parking offering a total of 341 parking stalls. LRM served as landscape architect and Arial Fox provided interior design services for the project.
RICHMOND HEIGHTS, OHIO — DealPoint Merrill has acquired the remaining portion of the former Richmond Town Square regional mall in Richmond Heights, a suburb just east of Cleveland. The purchase price was undisclosed. Built in 1966, the mall was once the largest enclosed shopping center in the state with over 90 stores. It closed this year. DealPoint previously owned 33 acres of the mall site and now owns a total of 69 acres. This acquisition clears the way for the development of Belle Oaks Marketplace, a $200 million mixed-use project to be built on the site of the former mall. The 160,000-square-foot self-storage building operated by Life Storage and owned by DealPoint will remain open. Construction is scheduled to begin in the first quarter of 2022. Upon completion, Belle Oaks Marketplace will encompass 40,000 square feet of restaurants, an outdoor entertainment venue, 791 apartment units and 315,000 square feet of grocery and retail space.
CONROE, TEXAS — Houston-based Gordon Partners has completed the 35,000-square-foot expansion of Waterpoint Center, an office, retail and restaurant development located north of Houston on Lake Conroe. Retail and restaurant users that will soon be opening at the 140,000-square-foot waterfront property include Akashi Asian Bistro, Crust Pizza Co., Boardwalk Boutique, The Paleta Bar, Hunger Crush Café and Bar Lago Craft Cocktails. Gordon Partners will soon break ground on an additional 10,000 square feet of office and medical space that is expected to be complete in the first quarter of 2022.
CHICAGO — The Chicago City Council has given approval for the development of Bronzeville Lakefront, a $3.8 billion mixed-use project located in Bronzeville, a South Side neighborhood. Michael Reese Hospital and Medical Center, which closed in 2008, formerly occupied the 48-acre development site. The City of Chicago acquired the property in 2009 and cleared most of the land over the ensuing months. A team of local developers known as GRIT was selected to purchase the site for $96.9 million through a redevelopment agreement. GRIT comprises Farpoint Development, Loop Capital Management, McLaurin Development Partners, Draper & Kramer, Chicago Neighborhood Initiatives and the Bronzeville Community Development Partnership. Upon completion, Bronzeville Lakefront will offer 7 million square feet of commercial and institutional space, as well as mixed-income housing, and will create up to 20,000 temporary and permanent jobs. The development team will break ground on the $600 million first phase of the project in late 2021 or early 2022. The site is bounded by 31st Street, 26th Street, Vernon Avenue and Lake Shore Drive. Phase I will include a 500,000-square-foot Chicago Arc Innovation Building; retail space; a community center; a mixed-income seniors housing building; a new park; and the reuse of an existing building named …
SOMERVILLE, MASS. — US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments and USAA Real Estate, has broken ground on a $2 billion mixed-use project known as USQ in Somerville, just northwest of Boston. The 15-acre, transit-oriented development is situated in the city’s historic Union Square neighborhood at the southeast corner of Somerville Avenue and Prospect Street. An official groundbreaking ceremony took place this morning. Totaling 2.4 million square feet, USQ has been in the making for decades, according to the development team. Plans call for 1.2 million square feet of office and life sciences space, 1,000 apartment units and 140,000 square feet of ground-floor retail space. There will also be 3.6 acres of public space encompassing 11 new parks and two new Massachusetts Bay Transportation Authority (MBTA) stations. The first office building, 10 Prospect Street, is slated for completion in the fourth quarter of 2022. Rising seven stories and spanning 194,000 rentable square feet, the LEED Gold building will include an outdoor terrace and onsite parking. Leasing is currently underway. In the Somerville community, there are 18,000 residents who work in the scientific, technology or healthcare industries, according to the project website. Of the current …