Mixed-Use

LeCesse, MAS Underway on $91.5M Mixed-Use Development in Elizabeth, New Jersey

by Alex Patton October 17, 2019

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group are underway on construction of Vinty, a $91.5 million mixed-use project in Elizabeth, a western suburb of New York City. Vinty will offer 267 apartment units and 37,000 square feet of ground-floor retail and office space. Amenities will include a fitness center, dog park, outdoor theater, golf simulator, pool and a greenhouse. The location’s close proximity to the Elizabeth train station offers direct access to Manhattan, Newark Penn Station and Newark Liberty National Airport. JLL arranged construction financing for the project through Citizen’s Bank. Humphreys & Partners Architects is designing the project, and March Associates is the general contractor. Residences are expected to be available for lease in spring 2021.

October 17, 2019

California Development Mixed-Use Top Stories Western

Overton Moore Properties Breaks Ground on 1.25 MSF Mixed-Use Development in Burbank, California

by Alex Tostado October 9, 2019

BURBANK, CALIF. — Overton Moore Properties (OMP) has broken ground on Avion Burbank, a planned 18-building, 1.25 million-square-foot mixed-use development in Burbank, just northwest of Los Angeles. At full build-out, the property will include six industrial buildings, nine two-story office buildings, a 150-room hotel and two retail and restaurant buildings. OMP purchased the property in 2016 from the Burbank-Glendale-Pasadena Airport Authority and received project approval from the Burbank City Council earlier this year. The 60-acre site is located next to Hollywood Burbank Airport, which Burbank-Glendale-Pasadena Airport Authority owns. The Los Angeles Times reports OMP paid $72.5 million for the property. OMP plans for the project to be certified LEED Silver and include multi-purpose walk paths, indoor and outdoor meeting areas, and bike share stations. The property will include 115 electric vehicle chargers, with wiring and space to potentially add 62 parking stalls and truck loading docks for future electric vehicle chargers. Completion is slated for December 2020. “Avion Burbank will offer users a unique environment that incorporates state-of-the-art buildings situated in an interactive work-life environment,” says Timur Tecimer, chief executive officer of OMP. “This innovative campus will also boast multiple outdoor amenities that will assist companies in recruiting and retaining the …

October 9, 2019

California Civic Mixed-Use Student Housing Top Stories Western

American Campus Communities Starts Construction of Mixed-Use Development on University of California Riverside Campus

by Jeff Shaw October 8, 2019

RIVERSIDE, CALIF. — The University of California, Riverside (UCR) and American Campus Communities (NYSE: ACC) have broken ground on North District, a mixed-use community anchored by new student housing buildings. The project will be situated on the university’s campus in Riverside, a city located in the Inland Empire about 60 miles east of Los Angeles. Upon full build-out, the project will feature up to 6,000 new student housing beds, new dining facilities, an NCAA Division I competition field, a field house sports facility, functional open spaces, multi-use spaces that can serve as classrooms, meeting spaces and study areas, and more than 100,000 square feet for retail, commercial and university services. The project, a redevelopment of the former Canyon Crest Family Housing site, is part of UCR’s vision for creating a “living-learning” campus, much like other mixed-use developments seek a live-work-play environment. The university projects enrollment will rise from approximately 24,000 students today to 35,000 by 2035, necessitating the new student housing beds. “This project will help us prepare for this tremendous growth,” says UCR Chancellor Kim Wilcox. “Part of this vision includes residential life programs that will provide a balance of privacy while embracing community to enhance the overall academic …

October 8, 2019

California Development Loans Mixed-Use Multifamily Retail Western

Partnership Receives $190M in Construction Financing for Mixed-Use Project in Beverly Hills

by Amy Works October 7, 2019

BEVERLY HILLS, CALIF. — A joint venture led by SHVO, Bilgili Group and Deutsche Finance has received a $190 million construction loan for 9200 Wilshire Boulevard, a mixed-use project in Beverly Hills. Lotus Capital Partners arranged the construction financing, which ACORE Capital provided. The joint venture acquired the residential and retail development site in May for $130 million. Comprising a full city block, the mid-rise development will feature 54 residences, a rooftop pool and 6,650 square feet of retail space.

October 7, 2019

Development Florida Hospitality Mixed-Use Southeast Top Stories

Hard Rock International Completes $700M Casino Expansion in Tampa

by Alex Patton October 4, 2019

TAMPA, FLA. — Hard Rock International has completed a $700 million expansion of Seminole Hard Rock Hotel & Casino Tampa. The development added a new 223,900-square-foot casino to the property, which includes an additional 1,000 slot machines and 41 table games throughout its new gaming spaces. The new casino brings the roster of gaming attractions up to nearly 5,000 slot machines, 179 tables and 46 poker tables.The casino now comprises 245,000 square feet of dedicated casino space, according to the Tampa Bay Times. The renovation also included construction of a 14-story hotel with 562 rooms and suites. Amenities of the new hotel include a 26,000-square-foot spa, three pools, two VIP suites, a hair and nail salon, barbershop and lounge. The top floor also features a private gaming parlor for VIP guests. Additionally, the construction included a 1,500-seat Hard Rock Event Center, where completion celebrations were held including performances from Atlanta-based rapper Big Boi and DJ Jazzy Jeff. New food and beverage options at the property include coffee café Constant Grind, the Pool Bar & Grill and Italian restaurant Cipresso. “Seminole Hard Rock Hotel & Casino Tampa is already one of the largest and most profitable casinos in the United States,” says Jim Allen, …

October 4, 2019

Loans Mixed-Use Texas

JLL Arranges $42M Refinancing for Century Square Mixed-Use Property in College Station

by Taylor Williams October 4, 2019

COLLEGE STATION, TEXAS — JLL has arranged a $42 million loan for the refinancing of Century Square, a mixed-use property in College Station. Built in 2018 and located adjacent to Texas A&M University’s campus, the development features 159,128 square feet of retail space, 57,204 square feet of office space, two hotels totaling 303 rooms and 249 multifamily units, as well as open green spaces. The refinancing did not cover the hospitality and residential components. Ares Management Corp. provided the nonrecourse loan to the borrower, a partnership between Houston-based Midway Cos. and Chicago-based Harrison Street. Colby Mueck, Timothy Joyce, Stephen Skok, Stuart Hepler, Katherine Miller and Charlie Strauss of JLL handled the transaction.

October 4, 2019

Acquisitions Georgia Mixed-Use Southeast

JLL Arranges Sale of Alpharetta City Center in Georgia

by Alex Tostado October 3, 2019

ALPHARETTA, GA. — JLL has arranged the sale of Alpharetta City Center, a mixed-use development featuring 168 residential units, a town green and 82,700 square feet of retail and restaurant space. Amorance, the multifamily community on-site, spans two buildings, offering one- and two-bedroom floor plans averaging 1,067 square feet. The property, which South City Partners and Morris & Fellows delivered in 2018, features communal amenities such as a clubroom with outdoor patio, catering kitchen, communal living room with a fireplace and TV, swimming pool courtyard, grilling area, fire pit, lounge seating areas, and a fitness center with yoga and spin rooms. The District, a 41,650-square-foot collection of local boutiques and service providers, sits at street level below the apartments. The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants spanning two acres of parks and green spaces across three city blocks of Main Street. The retail and restaurants were fully leased at the time of sale. David Gutting, Margaret Caldwell (now with Arden Capital Advisors), Derrick Bloom and Margaret Jones of JLL represented the sellers, South City Partners and Morris & Fellows, in the transaction. CBRE Global Investors purchased the property on behalf of a separate account client …

October 3, 2019

Connecticut Development Loans Mixed-Use Northeast

JLL Arranges $97.5M Construction Loan for Mixed-Use Project in Stamford, Connecticut

by Alex Patton October 1, 2019

STAMFORD, CONN. — JLL has arranged a $97.5 million construction loan for the development of the second phase of Atlantic Station, a mixed-use project in Stamford, located approximately 35 miles northeast of New York City. Bank OZK provided the floating-rate loan. The first phase of Atlantic Station was completed in 2018 and comprised 325 rental units, 321 parking spaces and 16,000 square feet of retail space. The second phase will include 325 condominium units, approximately 48,000 square feet of retail space and a 534-space parking garage. Mike Tepedino, Michael Gigliotti and Scott Findlay of JLL arranged the loan on behalf of the developer and borrower, RXR Realty. Construction of Phase II is slated for completion by 2021.

October 1, 2019

Development Massachusetts Mixed-Use Northeast

Callahan Breaks Ground on 410,000 SF Mixed-Use Development in Amesbury, Massachusetts

by Alex Patton October 1, 2019

AMESBURY, MASS. — Callahan Construction Managers has broken ground on Maples Crossing, a 410,000-square-foot mixed-use development in Amesbury, located approximately 40 miles north of Boston. Developed by Global Property Development Corp., the 70-acre entertainment and lifestyle center will be anchored by six ice hockey rinks. The Daily News of Newburyport reports that the development costs $70 million and will also include an office building, restaurant and hotel. Andrus Architecture is designing the project, which is slated for completion by the end of 2020.

October 1, 2019

Company News Development Georgia Mixed-Use Southeast

Integral Group Adds Three Developers, Alamo Drafthouse to Assembly Yards Project in Metro Atlanta

by Alex Tostado October 1, 2019

DORAVILLE, GA. — The Integral Group has added three development partners at Assembly Yards, a 165-acre mixed-use redevelopment of the former General Motors plant in Doraville. Paces Properties has joined the development team as the retail partner, StreetLights Residential will serve as the multifamily partner and Ashton Woods Homes as the single-family home builder. Additionally, Alamo Drafthouse Cinema, a Texas-based chain of movie theaters with in-house dining and bar service, will open its first Georgia location at Assembly Yards in 2021. Paces Properties expects to build 125,000 square feet of retail space, including a 16,000-square-foot food hall. Dallas-based StreetLights Residential will construct 300 multifamily units, while Ashton Woods will deliver 150 townhomes. The partnerships with Paces, StreetLights and Ashton Woods combined will add $175 million of development to the site. The first set of retail openings is scheduled for early 2021. In May, Serta Simmons Bedding also celebrated the grand opening of its new 250,000-square-foot headquarters at Assembly alongside Georgia Gov. Brian Kemp and Doraville Mayor Donna Pittman. At the same time, NAVYA launched an autonomous shuttle, the first-of-its-kind in the region.

October 1, 2019

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