Mixed-Use

Farley Building Penn District Manhattan NYC

Facebook Leases 730,000 SF of Office Space at Vornado’s Farley Building in Manhattan

by John Nelson August 4, 2020

NEW YORK CITY — Facebook (Nasdaq: FB) has signed a lease to fully occupy the office portion of The Farley Building, a mixed-use project under construction in Manhattan. The landlord, Vornado Realty Trust (NYSE: VNO), is redeveloping the historic property, which was formerly the James A. Farley Post Office Building. The social media giant will occupy 730,000 square feet in the building. A timeline for the move-in and the number of employees moving into Farley was not disclosed. “The Farley Building will further anchor our New York footprint and create a dedicated hub for our tech and engineering teams,” says Robert Cookson, Facebook’s vice president of real estate and facilities. The Farley Building spans a double-wide city block between 31st and 33rd streets and 8th and 9th avenues. The property is part of Vornado’s Penn District development. Vornado owns more than 10 million square feet in Penn District, which is undergoing a $2 billion redevelopment, not including infrastructure and transit improvements by City of New York totaling $3 billion. Penn District includes the Farley Building, Penn 1 and Penn 2, all of which are under construction. Penn 1 and 2 are redevelopments of One Penn Plaza and Two Penn Plaza, …

August 4, 2020

Development Mixed-Use Multifamily Nevada Retail Western

TRU Development, MultiGreen Properties to Build 336-Unit Apartment Community Near Las Vegas

by Amy Works July 31, 2020

HENDERSON, NEV. — TRU Development, in partnership with capital partner and real estate operating company MultiGreen Properties, has acquired a 19-acre land parcel at the southeast corner of Galleria Drive and Boulder Highway in Henderson. Terms of the acquisition were not released. The partnership plans to develop theAPEX @galleria, a 336-unit apartment community with 3.8 acres of retail development available for sale, ground lease or build to suit. Apartments will be available for lease in March 2021. The Henderson development is the first of many planned theAPEX-branded communities throughout Nevada. In the next 12 months, TRU is slated to break ground on a total of 670 units under theAPEX brand in southern Nevada, 358 units under the KAKTUSlife brand and more than 600 units under theAPEX brand in northern Nevada.

July 31, 2020

California Development Mixed-Use Multifamily Western

Mountain Pacific Starts Construction of $14M Mixed-Use Development in San Pedro, California

by Amy Works July 30, 2020

SAN PEDRO, CALIF. — Los Angeles-based Mountain Pacific Opportunity Partners, in partnership with South Bay Developers and ARK Construction & Development, has started construction 336 W. Seventh Street, a mixed-use development in San Pedro. Situated on a 14,000-square-foot opportunity zone site, the $14 million project will feature a five-story building offering 32 apartments in a mix of one-, two- and three-bedroom layouts, as well as two two-story penthouses. Three of units will be designated as affordable housing. Additionally, the property will feature 3,750 square feet of ground-floor commercial space and parking for 44 vehicles. Breen Engineering is providing architectural services for the project. Completion is slated for summer 2022.

July 30, 2020

Development Mixed-Use Texas

Gulf Coast Nears Completion of First Phase of 24-Acre Lower Heights Mixed-Use Project in Houston

by Taylor Williams July 29, 2020

HOUSTON — Gulf Coast Commercial Group is nearing completion of the initial phase of Lower Heights, a 24-acre mixed-use project located just west of downtown Houston. The project is being developed on an assemblage of former industrial sites fronting Interstate 10. The most recent addition to Lower Heights is a 35,000-square-foot office building with street-level retail space that has been preleased to Central Bank and coworking operator SheSpace. The development also features a 375-unit apartment community that is branded Alexan Lower Heights. Move-ins are underway at the five-story property, which offers studio, one- and two-bedroom units and Class A amenities. Lastly, Lower Heights includes a 37,000-square-foot retail block that houses Total Wine and Ulta Beauty. Future phases call for additional retail, office and multifamily uses.

July 29, 2020

Development Midwest Missouri Mixed-Use Top Stories

Clayco to Redevelop Vacant Hospital into $100M Mixed-Use Project in St. Louis

by Kristin Harlow July 29, 2020

ST. LOUIS — Clayco is underway on Delmar Divine, a $100 million redevelopment of a long-vacated hospital campus along Delmar Boulevard in St. Louis. The 500,000-square-foot project will become “a hub for innovation and enterprise,” according to Clayco. Completion is slated for fall 2021. The first phase will establish a nonprofit working space, a café and residential apartments. The 150 multifamily units will be geared toward professionals in fields such as social work, nursing and policing. More office space and services such as early childhood education will follow. The developers hope to attract a myriad of nonprofits, foundations and community support organizations to the project. The name “Delmar Divine” draws a sharp contrast to how the area has historically been negatively perceived, according to Clayco. For many years, the area was referred to as the “Delmar Divide” due to racial and income stratifications that existed on the north and south ends of the street. “We want to enhance growth and investment in this neighborhood,” says Bob Clark, executive chairman and founder of Clayco. “At the same time, we want to do it responsibly so we’re not displacing people or relocating anyone, but bringing prosperity, jobs and the type of development …

July 29, 2020

Development Mixed-Use North Carolina Southeast Top Stories

Developer Trio Plans 11-Acre ATC West Mixed-Use Project in Downtown Durham

by John Nelson July 28, 2020

DURHAM, N.C. — A trio of real estate owners and developers has unveiled plans for an 11-acre mixed-use development in downtown Durham. Capitol Broadcasting Co. (CBC), Hines and USAA Real Estate have formalized a joint venture to move forward with the 700,000-square-foot project known as ATC West. Construction is expected to begin in late 2021 or early 2022. The development will be situated on the west side of the American Tobacco Campus (ATC), an adaptive reuse district that houses warehouses built and formerly leased by American Tobacco Co., parent company of the Lucky Strike cigarette brand. The original use of the ATC site dates back to 1890. CBC owns ATC, as well as the neighboring Durham Bulls Athletic Park. The new venture will be an expansion of the overall ATC district. Plans for the first phase of ATC West will be on eight acres and include 313,000 square feet of space in two mass-timber creative office buildings that are branded under Hines’ T3 product. (T3 stands for timber, transit and technology.) “ATC West will fit with the historic look of the original American Tobacco Campus while embracing the amenities, efficiencies and innovations of new builds,” says Kurt Hartman, senior managing …

July 28, 2020

California Development Mixed-Use Multifamily Retail Western

Coldwell Banker Negotiates $14.4M Sale of Mixed-Use Development Site in Temple City, California

by Amy Works July 24, 2020

TEMPLE CITY, CALIF. — Coldwell Banker Commercial has arranged the sale of a development site located at 5570 Rosemead Blvd. in Temple City. An undisclosed buyer acquired the site for $14.4 million. The buyer plans to redevelop the 1.4-acre land parcel into a mixed-use community with 73 residential units and 15,000 square feet of ground-floor retail space. The four-story building will offer units ranging from 732 square feet to 1,251 square feet, with three live-work units and lofts on the top floors. A 12,000-square-foot building, which was formerly used as the Learning Center, currently occupies the site. Steve Hayashi of Coldwell Banker Commercial George Realty represented the undisclosed seller in the deal.

July 24, 2020

Development Maryland Mixed-Use Multifamily Southeast Student Housing

Greenberg Gibbons, Caves Valley Partners to Open Student Housing Community Within $350M Towson Row in August

by Alex Tostado July 21, 2020

TOWSON, MD. — Greenberg Gibbons and Caves Valley Partners will open Phase I of Towson Row, a $350 million mixed-use development in Towson, in August. The first phase includes Altus, a 214-unit student housing community that will include retail and restaurant space on the ground level. Gilbane Development Co. is developing and managing Altus, which is located at the corner of Susquehanna Avenue and Towson Row, one mile north of Towson University. Located on the first level of the Altus building will be a 2,860-square-foot wine and spirits store, a 2,272-square-foot nail salon and a 2,750-square-foot BurgerFi restaurant. Towson University announced it will open for in-person and online classes Aug. 24. Towson Row is a five-acre mixed-use development that will include a 45,000-square-foot Whole Foods Market, more than 75,000 square feet of retail/restaurant space, 150,000 square feet of office space, 231 apartment units, the adaptive reuse of the former National Guard armory building into Towson University’s StarTUp and a 220-room dual-branded hotel.

July 21, 2020

Development Florida Mixed-Use Retail Southeast

Skanska USA Completes $92M Renovation of St. Petersburg Pier, Adds New Shops and Restaurants

by Alex Tostado July 20, 2020

ST. PETERSBURG, FLA. — Skanska USA has completed a $92 million renovation of the historic St. Petersburg Pier on behalf of the City of St. Petersburg. The 26-acre area now includes 44,000 square feet of retail and restaurant space, including the St. Pete Museum of History and Tampa Bay Watch Discovery Center. Other tenants include The Driftwood Café; Doc Ford’s Rum Bar & Grille; Spa Beach Bistro; Teak, a waterfront restaurant; and Pier Teaki, a rooftop bar. The five-story Pierhead building includes shops and a fishing platform. The pier area also includes the 35,000-square-foot Pier Plaza, which includes a playground, splash pad and seating areas. The 1,400-foot St. Petersburg Pier, which juts out into Tampa Bay, was originally built in 1889 and is the eighth pier in the city’s history. Rogers Partners, ASD | SKY and landscape architect Ken Smith Workshop designed the project.

July 20, 2020

Development Mixed-Use New York Northeast

Lendlease, L+M Development Secure Equity Partner for 42-Story Mixed-Use Project in Manhattan

by Taylor Williams July 20, 2020

NEW YORK CITY — A partnership between Australian multinational developer Lendlease and New York-based L+M Development Partners has secured Daiwa House Texas Inc. as a new equity partner for the development team’s 42-story mixed-use tower in Manhattan’s Morningside Heights area. Daiwa House Texas is a U.S. subsidiary of Daiwa House Industry Co., Japan’s largest homebuilder that is pursuing an initiative to expand across the United States. The project, which will be located at 100 Claremont Ave., will feature 165 residential condominiums, 54,000 square feet of academic space for the Union Theological Seminary and 49,000 square feet of faculty housing. Completion is slated for spring 2023.

July 20, 2020

Newer Posts

Older Posts