Mixed-Use

High Street Residential to Develop 280,000 SF Mixed-Use Project in East Austin

by Taylor Williams March 13, 2020

AUSTIN, TEXAS — High Street Residential, a subsidiary of Trammell Crow Co., will develop The Block Yard, a 280,000-square-foot mixed-use project in Austin. Designed by JHP Architecture, the transit-oriented development will be situated on four acres at 2900 E. Martin Luther King Blvd, adjacent to the Capital Metro MLK Light-Rail Station and just two miles north of downtown. Plans for the project currently call for 302 residential units, 63,800 square feet of office space and 4,200 square feet of ground-floor retail space. Construction of the office and residential components is expected to be complete in July 2021 and January 2022, respectively. LEVY Architects has been tapped to design the commercial component and project interiors, and CBRE will handle leasing of the commercial space.

March 13, 2020

Development Mixed-Use Texas

Namhawk to Develop $300M Carrollton Gateway Mixed-Use Project in Metro Dallas

by Taylor Williams March 12, 2020

CARROLLTON, TEXAS — Locally based developer Namhawk LLC will develop Carrollton Gateway, a $300 million mixed-use project that will be located adjacent to Interstate 35 in the northern Dallas suburb of Carrollton. The first phase of the transit-oriented development calls for a 325-unit multifamily property with a fitness center, pool and coworking and meeting spaces. Phase II will feature a 150,000-square-foot office building. Namhawk is also planning a hotel as part of the project. Namhawk has selected The Ratliff Group to provide construction and program management services for the project. A construction timeline has not yet been released.

March 12, 2020

Development Illinois Midwest Mixed-Use

Habitat Co. Begins Development of $200M Mixed-Use Project in Chicago

by Kristin Harlow March 11, 2020

CHICAGO — The Habitat Co. has secured financing and begun development of the first phase of Ogden Commons, a $200 million mixed-use project in Chicago’s North Lawndale neighborhood. The project is being developed in a public-private partnership between Habitat, Sinai Health System, Cinespace Chicago Film Studios, the Chicago Housing Authority (CHA) and the city of Chicago. Upon completion, the 10-acre development will be home to 120,000 square feet of commercial and retail space as well as 350 mixed-income housing units. Located in a federally designated qualified Opportunity Zone, the site is bordered by Ogden Avenue, Fairfield Avenue and Rockwell Street. Ogden Commons will be located on land that once housed the CHA’s former Ogden Courts and Lawndale public housing developments. Through a combination of debt and Opportunity Zone equipment, PNC Bank funded $15 million of the $22 million development cost for Phase I, which includes 50,000 square feet of retail space housed in a three-story building. Signed tenants include Steak n’ Shake, Ja’ Grill and Wintrust Bank. The rest of the building will be leased to Sinai and Cinespace. Construction of the residential component is expected to begin in 2021. Current plans for the first residential phase call for a …

March 11, 2020

California Development Loans Mixed-Use Office Restaurant Retail Western

Stockdale Capital Partners Secures $330M Construction Loan for The Campus at Horton in San Diego

by Amy Works March 10, 2020

SAN DIEGO — Stockdale Capital Partners has closed on a $330 million loan with a group of funds managed by Alliance Bernstein to continue the redevelopment efforts at Horton Plaza in San Diego. Exterior construction is scheduled to begin soon with 600 to 800 construction workers expected on-site to build the mixed-use creative office and retail redevelopment. Stockdale Capital originally announced its redevelopment plans for Horton Plaza Mall in January. The Campus at Horton will include 700,000 square feet of creative office space and 300,000 square feet of retail space. The development is targeting LEED Platinum, WELL Platinum and WiredSource certifications, with sustainability efforts at the forefront of design and construction. Completion is slated for the end of 2021. Developers estimate the project will bring 3,000 to 4,000 jobs to the community.

March 10, 2020

Acquisitions Development Mixed-Use Northeast Pennsylvania Top Stories

SomeraRoad Buys Out Partners for SouthSide Works in Pittsburgh, Plans $167M Development and Renovation

by John Nelson March 10, 2020

PITTSBURGH — SomeraRoad Inc., a value-add investment and development firm based in New York City, has taken full ownership of SouthSide Works in Pittsburgh’s South Side neighborhood. The adaptive reuse project was formerly the site of J&L Steel Works and now houses approximately 280,000 square feet of retail space, 180,000 square feet of office space and 85 apartments. The project opened in 2004. SomeraRoad plans to undertake more than $37 million in capital improvements and invest $130 million in new development at the project, including 230 apartments and 200,000 square feet of office space fronting the Monongahela River. Another key feature of the new development plan is the conversion of the SouthSide Works Cinema to a 77,000-square-foot creative office space dubbed Box Office. SomeraRoad plans for the new office space to house about 500 office workers. The Kansas City office of HOK Architecture will design Box Office, which SomeraRoad will begin work on this summer. “The cinema’s grand entry, high ceilings and efficient useable floorplate, coupled with steel and glass improvements and the adaptive reuse appeal, creates a unique office conversion opportunity Pittsburgh hasn’t seen before,” says Jon Reeser, SomeraRoad’s vice president of acquisitions and head of its Pittsburgh office. …

March 10, 2020

Loans Mixed-Use New York Northeast

JLL Secures $210M Acquisition Loan for Mixed-Use Building in Manhattan

by Alex Patton March 9, 2020

NEW YORK CITY — JLL has secured a $210 million acquisition loan for 530 Broadway, a 200,000-square-foot mixed-use building in the SoHo neighborhood of Manhattan that was originally built in 1898. LoanCore Capital LLC provided the loan to a joint venture between local real estate developer SHVO, Deutsche Finance America and BLG Capital Ltd. The joint venture purchased the 11-story property from a partnership of Wharton Property Advisors and Thor Equities. Michael Tepedino, David Sitt and Robert Tonnessen of JLL arranged the financing.

March 9, 2020

Development Mixed-Use North Carolina Southeast

Nuveen, Crosland Southeast to Develop Mixed-Use Project in Charlotte

by Alex Tostado March 9, 2020

CHARLOTTE, N.C. — Nuveen Real Estate and Crosland Southeast have acquired a 12-acre parcel in Charlotte’s Plaza Midwood neighborhood to develop a mixed-use project. The development will feature retail, restaurant and office space, as well as residential units. The site is situated at the corner of Pecan and Central avenues, two miles from downtown Charlotte. The development team will complete the project in phases over a five-year period. Further details of the plans were not disclosed.

March 9, 2020

Development Midwest Missouri Mixed-Use

CapStone Holdings Invests $40M in City Foundry STL Development in Downtown St. Louis

by Kristin Harlow March 5, 2020

ST. LOUIS — CapStone Holdings Inc., a business incubator and investment group, has acquired a $40 million stake in City Foundry STL, a food hall and office project set to open in downtown St. Louis this summer. CapStone represents one of the largest single-entity investors in the $210 million first phase of the project, which will feature 122,000 square feet of restaurant and entertainment space, 105,000 square feet of retail and 107,000 square feet of office. City Foundry is a redevelopment of the former Federal Mogul factory. The Lawrence Group is the developer for the 15-acre project.

March 5, 2020

Development Mixed-Use Texas

Bright Realty Moves Forward With 140-Acre Crown Centre Mixed-Use Project in Metro Dallas

by Taylor Williams March 4, 2020

LEWISVILLE, TEXAS — Locally based firm Bright Realty has received approval from the City of Lewisville to move forward with the development of Crown Centre, a 140-acre mixed-use project that will be located along State Highway 121 on the northern outskirts of Dallas. The site is approved for up to 2,000 multifamily units, 3 million square feet of office space, 500 hotel rooms and covered parking, as well as 140,000 square feet of retail and open green space. The development will also feature three open spaces with lakes and trails that will connect the buildings, as well as outdoor event space. Construction of a 109,000-square-foot office building is underway at the site and is expected to be complete later this year.

March 4, 2020

Loans Mixed-Use Texas

JLL Arranges Financing for Montrose Collective Mixed-Use Project in Houston

by Taylor Williams March 4, 2020

HOUSTON — JLL has arranged construction financing and joint venture equity for Montrose Collective, a mixed-use project that will be located in Houston’s Montrose District. Preliminary plans call for 150,000 square feet of creative office, medical office and retail space across four buildings. Colby Mueck, Ryan West, Matthew Putterman, Jett Lucia and Matthew Williamson of JLL arranged the construction loan through Bank OZK and delivered an institutional investor advised by JPMorgan Asset Management as the joint venture equity partner. The borrower was locally based development and investment firm Radom Capital.

March 4, 2020

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