Mixed-Use

Hanover Acquires Land in Metro Dallas for Future $950M Master-Planned Development

by John Nelson February 5, 2020

MIDLOTHIAN, TEXAS — Locally based developer Hanover Property Co. has acquired 966 acres in the southern Dallas suburb of Midlothian for the development of a $950 million master-planned community. Current plans call for 2,000 single-family homes, 26 acres of commercial space and 42 acres of industrial space. Pre-development is underway, and the initial phase is expected to be complete in early 2022. Michael Swaldi, Larry McCorkle and Nick Hayden of JLL represented the seller, ECOM Real Estate, in the transaction. Paul Whitman, also with JLL, represented Hanover Property Co.

February 5, 2020

Alabama Development Mixed-Use Southeast

Beach Co. Unveils Plans for 13-Acre Mixed-Use Development in Huntsville

by Alex Tostado February 4, 2020

HUNTSVILLE, ALA. — The Beach Co. has unveiled plans for a mixed-use development in Huntsville’s westside that will span 13 acres. The project will include 260 multifamily units, 14 townhomes, a 100-room hotel and 26,000 square feet of retail and office space. Residential amenities will include a pool, fitness area, clubhouse and ample green space with a dog park. In addition, 620 parking spaces will be included for both resident and public parking, as well as attached garages for resident parking. Nashville, Tenn.-based Smith Gee Studios is the architect. The Beach Co. acquired the land from Improving Huntsville LLC. Wesley Crunkleton of Crunkleton Commercial Real Estate Group represented the seller in the transaction. The Beach Co. expects to break ground this summer.

February 4, 2020

Arizona Development Mixed-Use Top Stories Western

Palladium Enterprises to Develop $75M Mixed-Use Project in Mesa, Arizona

by Taylor Williams February 3, 2020

MESA, ARIZ. — Palladium Enterprises, a privately held development firm, will break ground Monday, Feb. 24 on The GRID, a $75 million mixed-use project in the eastern Phoenix suburb of Mesa. The residential component of The Grid consists of 75 micro apartments that will average about 450 square feet per unit, as well as 196 regular apartments and 15 row homes. The residential space will be built on top of the Pomeroy Parking Garage and will feature amenities such as a rooftop lounge, coworking space, outdoor pool and multiple courtyards. An expected completion date has not been released. Current plans for The Grid also include 14,000 square feet of office space, plus an unspecified amount of retail and restaurant space. Pomeroy Street Plaza, a city park situated adjacent to the site, will also be upgraded as part of the project. “The GRID is exactly the type of development we want to see in downtown Mesa,” says Mayor John Giles. “Building residential, restaurant and office space on top of an underutilized parking garage will add tremendously to our growing urban neighborhood.” Palladium Enterprises is developing The Grid in partnership with the City of Mesa and Benedictine University. Three local real estate …

February 3, 2020

Development Mixed-Use North Carolina Southeast

Armada Hoffler-Led Partnership to Redevelop Historic Building in Metro Charlotte

by Alex Tostado January 30, 2020

BELMONT, N.C. — Armada Hoffler Properties Inc., along with John and Jennifer Church, and Shane Seagle of North State Development, will redevelop Chronicle Mill in Belmont. Chronicle Mill was built in 1901 as the city’s first textile mill and remained operational until 2010. The partnership will redevelop the existing building into apartments, retail and amenity space. A new five-story apartment building will also be built on the seven-acre site. Upon completion, the mixed-use community will include 240 one- and two-bedroom apartment units and 9,000 square feet of commercial space. Armada Hoffler Construction Co., a wholly owned subsidiary of Armada Hoffler Properties, will serve as the general contractor and BB+M is the architect. Developers expect to break ground in the second quarter of this year. Total redevelopment and construction costs for the Chronicle Mill project are expected to total $45 million, with expected completion in fall 2021. The Churches purchased the mill in 2013 and have been pursuing redevelopment options for the property ever since. The couple owns and develops commercial real estate in Gaston County and has managed and leased retail, office, hotel and industrial properties. Late last year, Belmont City Council members approved a conditional zoning district that will …

January 30, 2020

Development Mixed-Use North Carolina Southeast

Partnership to Develop Mixed-Use Space Within Research Triangle Park

by Alex Tostado January 29, 2020

RALEIGH, N.C. — Park Center East LLC, a partnership between KDC and Research Triangle Foundation of North Carolina, will develop Hub RTP within Research Triangle Park. Hub RTP will include 300-foot high buildings, the only high-rise buildings within Research Triangle Park. Phase I will be situated on 43 acres on the east side of the property and include the 1 million square feet of office space, as well as at least one hotel with up to 375 rooms, 850 residential units and 150,000 square feet of retail space. Future phases could total 6 million square feet. A timeline for completion was not disclosed.

January 29, 2020

Development Mixed-Use Multifamily New York Northeast

Lambrou, Bridges to Develop 218,000 SF City Harbor Mixed-Use Development in Ithaca, New York

by Alex Patton January 29, 2020

ITHACA, N.Y. — A partnership between Lambrou Real Estate and Bridges Development Group will develop City Harbor, a 218,000-square-foot mixed-use development in the Upstate New York city of Ithaca. The property will be located at 101 Pier Road, formerly the site of Johnson Boat Yard, on the southern shore of Finger Lake. A multifamily component of the project will feature 158,000 square feet of residential space with 156 one- and two-bedroom units, a fitness center, restaurant and other amenities. The project will also feature a 60,000-square-foot medical building and a 1,700-foot shoreline promenade. HOLT Architects is designing the project, and Edger Enterprises Inc. is the general contractor. The development team expects to break ground in May and to complete the first phase about 18 months later.

January 29, 2020

Acquisitions Georgia Mixed-Use Southeast

Midtown West Associates Sells Brickworks Mixed-Use Portfolio in Atlanta for $80M

by John Nelson January 28, 2020

ATLANTA — Midtown West Associates LLC, a real estate development and management firm based in Atlanta, has sold Brickworks, a portfolio of retail and office buildings in Atlanta’s West Midtown district. Charlotte-based Asana Partners purchased the portfolio for an undisclosed price, but Atlanta Business Chronicle reports Brickworks traded for nearly $80 million. Patterson Real Estate Advisory Group marketed the 194,000-square-foot portfolio for sale. Richard Martin, managing director of Midtown West Associates, previously redeveloped his family’s obsolete brick warehouses in the city’s former industrial district into an adaptive reuse campus that is now leased to tenants such as Octane Coffee, Hop City, Food Terminal, Earl’s Bike Shop, Five Seasons Brewing, Snap Fitness, Nouvelle Nail Spa, Lola West Salon, Bocado, and Carvana. Brickworks also features several art galleries and workspaces, home décor and apparel stores and offices, including a regional office for Facebook. Brickworks and Jamestown’s Westside Provisions District are widely considered the catalysts behind Atlanta’s West Midtown’s boom, attracting best in class restaurants, shops and offices, as well as spurring new development. Asana Partners has made several investments in Atlanta’s prime neighborhoods recently, including Krog Street Market, a food hall in Inman Park; the Plaza Theatre and Majestic Diner in Poncey-Highland; …

January 28, 2020

Development Mixed-Use North Carolina Southeast

Jamestown, Grubb Ventures to Construct $150M Phase I of Mixed-Use Project in Raleigh

by Alex Tostado January 27, 2020

RALEIGH, N.C. — Jamestown and Grubb Ventures will develop Phase I of Raleigh Iron Works, a planned mixed-use project that will feature 500,000 square feet of office space, 90,000 square feet of retail space and 220 multifamily units. Phase I is expected to cost more than $150 million to develop and will include a new seven-story multifamily building and the renovation of historic steel mills and warehouses that were once part of Peden Steel. The new residential building will pay homage to historic Raleigh. The historic buildings will be repurposed into office and retail spaces, featuring original architectural details and distinctive finishes. Construction will begin this year and continue through 2023 with plans for additional development. The project site is situated at Raleigh’s Five Points, Person Street and Mordecai neighborhoods, about three miles north of downtown Raleigh.

January 27, 2020

Development Kansas Midwest Mixed-Use

Opus Completes Edison District Project in Overland Park, Kansas

by Kristin Harlow January 24, 2020

OVERLAND PARK, KAN. — The Opus Group has completed construction of the Edison District, a 125,000-square-foot retail and office development in downtown Overland Park. Located on the southwest corner of Marty and 80th streets, the five-story building offers shared office space managed by Edison Spaces on the second floor. The third through fifth floors will feature speculative office space. The project is also home to Strang Hall, a food hall with seven chef-driven concepts. Adjacent to the building is a skyway-connected parking garage with more than 400 stalls, 24 of which will remain available to the public. The project is also home to an outdoor activity plaza for hosting local events. Tim Barton and Matt Druten own Edison District. In addition to serving as developer of the project, Opus was the design-builder, interior designer, architect and structural engineer. Michael Hsu Architects provided interior design and furniture selection services for Strang Hall. Wiegmann Associates served as mechanical contractor and installed a high-efficiency HVAC system. AREA Real Estate Advisors is marketing the speculative office and retail spaces for lease.

January 24, 2020

California Development Loans Mixed-Use Multifamily Retail Western

Buchanan Mortgage Funds $55M Construction Loan for The Orchard Mixed-Use Project in Azusa, California

by Amy Works January 24, 2020

AZUSA, CALIF. — Buchanan Mortgage Holdings has closed a $55 million loan for construction of The Orchard, a mixed-used residential and retail development in Azusa, approximately 20 miles east of Los Angeles. The borrower, Serrano Development Group, will use the loan to construct 163 market-rate apartments and 31,700 square feet of retail space. The transit-oriented development will be located in downtown Azusa at the corner of North Azusa Avenue and U.S. Route 66. The project will consist of two Class A multifamily buildings connected via a second-story footbridge, subterranean parking and ground-floor retail space. The project marks the second collaboration between Serrano Development Group and Buchanan Mortgage Holdings.

January 24, 2020

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