Mixed-Use

Lowe Acquires Former School Site in Washington, D.C., Plans 500,000 SF Art Museum-Anchored Development

by Kristin Harlow August 7, 2019

WASHINGTON, D.C. — Lowe, a national real estate investor, developer and manager, has acquired the former Randall School site at 65 I St. SW in Washington, D.C. Lowe plans to redevelop the 2.7-acre site into a 500,000-square-foot mixed-use project featuring a contemporary art museum. Lowe had first come on as partner for the project in 2017 but is now assuming control of the development from TRSW, a partnership between Telesis Corp., a national affordable housing developer, and the Rubell family, long-standing collectors and patrons of the arts. Lowe intends for the project to create an arts and cultural anchor in the Southwest neighborhood. The designated Arts District will provide a second home for the Miami-based Rubell Family Collection, an internationally acclaimed contemporary art collection that draws visitors from around the world, according to Mark Rivers, executive vice president at Lowe. At the core of the project is the restoration and repositioning of the school’s three buildings, of which two will be transformed into an approximately 31,000-square-foot art museum housing the Rubell Family Collection. Entry to the museum will be free of charge to all residents of the District. The West Randall building will be reconfigured as an 18,000-square-foot creative office …

August 7, 2019

Development Florida Mixed-Use Southeast

Miami Beach City Commission OKs $15M Ocean Terrace Project

by Alex Tostado August 2, 2019

MIAMI BEACH, FLA. — The Miami Beach City Commission has approved a two-block development of its Ocean Terrace Streetscape Plan. The City entered a private-public partnership with Ocean Terrace Holdings LLC, which will be responsible for the design, construction and full execution of the five-acre public space. The redevelopment will take four years or fewer to complete and cost $15 million. What is today an asphalt street will be converted into a pedestrian-focused green space with native trees that will provide shade, walking promenades, water features and public seating. The design was developed by landscape architecture firm Raymond Jungles Inc., the group behind the Miami Beach Botanical Gardens and the promenade in front of 1111 Lincoln Road. The redevelopment will also include a boutique residential building, an upscale hotel and repositioned retail. The City of Miami Beach will retain control of all the land.

August 2, 2019

Development Midwest Minnesota Mixed-Use

Ryan Cos. to Undertake $3M Renovation of City Center in Minneapolis

by Kristin Harlow August 2, 2019

MINNEAPOLIS — Ryan Cos. Real Estate Management is undertaking a $3 million renovation of City Center, which is comprised of nearly two city blocks in the center of Minneapolis. It includes the 51-story skyscraper, 33 South Sixth Street; a 381,630-square-foot mall; a 687-stall parking garage; and the Minneapolis Marriott. Renovation plans call for the replacement of precast concrete panels with updated structural materials, additional lighting, new signage and a second-floor covered patio space. Sussner has undertaken the brand repositioning of the property, which will include a new City Center logo and colorful graphics. Ryan Cos. will oversee the construction, which will be completed by RJM Construction.

August 2, 2019

Acquisitions Mixed-Use Multifamily Oregon Retail Western

Holland Partner, Pacific Life Buy Tupelo Alley Mixed-Use Property in Portland for $58M

by Amy Works August 2, 2019

PORTLAND, ORE. — A joint venture between Holland Partner Group and Pacific Life Insurance Co. has acquired Tupelo Alley, a mixed-use community located in Portland’s North Mississippi Avenue neighborhood. Institutional investors advised by J.P. Morgan Asset Management sold the property for $58 million. Situated on 1.4 acres at 3850 N. Mississippi Ave., the three-building Tupelo Alley features 188 apartments in a mix of studio, one- and three-bedroom layouts, averaging 770 square feet, and 10,000 square feet of ground-floor retail space. On-site amenities include indoor and outdoor gathering spaces for residents. Ira Virden and Carrie Kahn of JLL Capital Markets represented the seller, while Charles Halladay, Rick Salinas and Charlie Watson, also of JLL Capital Markets, represented the buyer in the transaction. Additionally, JLL arranged $37.7 million in acquisition financing for the buyer.

August 2, 2019

Development Mixed-Use Nevada Top Stories Western

Bleutech Park Properties to Develop $7.5B Technology-Driven Project in Las Vegas

by Kristin Harlow July 31, 2019

LAS VEGAS — Bleutech Park Properties Inc. has unveiled plans for a $7.5 billion mixed-use project known as Bleutech Park Las Vegas. The developer plans to break ground this December, and construction is expected to take six years. Bleutech has confirmed that financing is in place. Bleutech Park will be home to workforce housing, luxury residential, office, retail, hotel and entertainment space. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” plans call for use of autonomous vehicles, artificial intelligence, augmented reality, robotics and other advanced technologies. Smart buildings will be equipped with energy-generating materials using wind, water, solar and other sustainable forms of power. Flooring systems within Bleutech Park will capture and reuse the energy of human movement throughout the park, including common areas and parking structures. Resources for heating, cooling, lighting and electricity will be harvested on-site. Project partners include general contractor Martin-Harris Construction and technology company Cisco. Aerial construction, digitization and robotics will be utilized during the construction of the project, which is expected to create 25,000 jobs. “Bleutech believes in the rise of digitization and robotics in construction as this will …

July 31, 2019

Development Georgia Mixed-Use Southeast

Armada Hoffler, S.J. Collins Enterprises to Develop $80M Mixed-Use Project in Metro Atlanta

by Alex Tostado July 30, 2019

ROSWELL, GA. — A joint venture between Armada Hoffler Properties and S.J. Collins Enterprises has unveiled plans to develop Southern Post, an $80 million, 240,000-square-foot mixed-use project in historic downtown Roswell. Southern Post will include 125 apartment units, 80,000 square feet of creative office space and 40,000 square feet of retail space. The joint venture worked with the City of Roswell in the design of Southern Post to honor the city’s historic charm. Armada Hoffler will be the majority partner in the joint venture, which anticipates closing on the purchase of the land from the City of Roswell in the fourth quarter of 2019 and commencing construction in the first quarter of 2020. Armada Hoffler Construction Co., a wholly owned subsidiary of the Armada Hoffler Properties, will serve as general contractor for the project, which is situated about 23 miles north of downtown Atlanta.

July 30, 2019

Development Florida Mixed-Use Southeast

Roger B. Kennedy Construction Delivers $75M Town Center Project in Central Florida

by Alex Tostado July 30, 2019

LAKE MARY, FLA. — Roger B. Kennedy Construction has delivered Griffin Farm at Midtown Town Center, a mixed-use property that includes 263 apartment units and 50,000 square feet of retail space. This marks the fourth time the Florida-based general contractor has worked with developer Unicorp National Developments Inc. to deliver a project. The apartments, called Drake Midtown Apartments, include two five-story buildings and are valued at more than $65 million. The retail portion includes seven single-story buildings that are valued at $10 million. Retail tenants include Dunkin’, First Watch, Hand & Stone, Mattress One and Tipsy Nail & Salon Bar.

July 30, 2019

Development Mixed-Use North Carolina Southeast

Spectrum, Invesco Break Ground on Mixed-Use Development in Charlotte’s South End

by Alex Tostado July 26, 2019

CHARLOTTE, N.C. — A joint venture between Spectrum Cos. and Invesco Real Estate has broken ground on a mixed-use development that will span five acres in Charlotte’s South End. The project will include two 11-story office buildings, an urban park with event space, restaurants, retail space and a 200-room hotel. The project will be located one block from the Carson light rail stop in South End and two blocks from Uptown. The two office towers will total 577,000 square feet of space and offer a fitness center, conference center and private terraces. LendingTree, an online lending marketplace, will anchor the development, moving its headquarters into 175,000 square feet in the first office building, which is set to be complete in January 2021. Construction on the hotel is expected to begin in summer 2020 and be delivered in late 2021.

July 26, 2019

California Development Mixed-Use Multifamily Office Retail Top Stories Western

San Francisco Planning Commission OKs Pinterest-Anchored Mixed-Use Project

by John Nelson July 26, 2019

SAN FRANCISCO — For the second time in a week, the San Francisco Planning Commission has approved a significant mixed-use development in the city’s SoMa (South of Market) district. Following its approval of the Flower Mart redevelopment project, the commission has approved a 1.1 million-square-foot mixed-use development located at 88 Bluxome St. The project, led by developers Alexandria Real Estate Equities Inc. (NYSE: ARE) and TMG Partners, is nearly 60 percent preleased. The co-developers describe 88 Bluxome as a “high-tech office and laboratory project.” Social media giant Pinterest has signed on to anchor the development with a 490,000-square-foot office lease. The Bay Club, a fitness and social club offering events and a wide range of sports classes, will also anchor the project. The 88 Bluxome campus will feature a technology and life science facility with ground-floor retail space and outdoor deck space on multiple levels of the building. The project also includes an expansion of the neighborhood’s existing Gene Friend Recreation Center, adding two swimming pools and a public activity space. Other features of 88 Bluxome will be a childcare center, a pedestrian “art walk” with commissioned pieces from internationally renowned and local artists, light industrial space available for use …

July 26, 2019

Development Maryland Mixed-Use Southeast

Stonebridge, Montgomery County Break Ground on 530,000 SF Mixed-Use Tower in Downtown Bethesda

by Alex Tostado July 23, 2019

BETHESDA, MD. — A public-private partnership between Stonebridge and Montgomery County in Maryland has broken ground on Avocet Tower, a 530,000-square-foot, 250-foot tall mixed-use building in Bethesda’s Central Business District. The transit-oriented tower will be located at 7373 Wisconsin Ave., directly across the street from the Bethesda Metro Station. Avocet Tower will comprise 370,000 square feet of office space and a 220-room AC Hotel by Marriott. Delivery is expected in summer 2021. Pickard Chilton designed the building, and Cooper Carry is the architect of record. The development team is expecting the tower to earn LEED Platinum certification and will include modern mechanical systems, secured bicycle storage, electric vehicle charging stations, bio-retention basins on the roof terrace and glass elements throughout the entire office area. Other amenities will include a fitness and business center on the 18th floor, as well as a restaurant available to the public.

July 23, 2019

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