Mixed-Use

IPA Negotiates Sale of Multifamily, Retail Mixed-Use Asset in Mountain View, California

by Amy Works December 5, 2019

MOUNTAIN VIEW, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Village Residences, a mixed-used complex located at San Antonio Road and El Camino Real in Mountain View. A venture between Carmel Partners and Merlone Geier Partners sold the asset for an undisclosed price. The name of the buyer was not released. Philip Saglimbeni, Stanford Jones, Bill Rose and Salvatore Saglimbeni of IPA represented the seller in the deal. Developed in 2013 and situated on 5.5 acres, The Village features 271,779 square feet of net rentable multifamily space spread across 330 apartment units and 43,206 square feet of retail space divided into 16 units. Apartments offer floor-to-ceiling windows, moveable kitchen islands and full-sized washers and dryers. On-site community amenities include an Atrium pool retreat with a fireside spa, canopied entertainment bar, grilling stations and lounge seating.

December 5, 2019

Development Louisiana Mixed-Use Retail Southeast Top Stories

Owner of Metro New Orleans Mall to Start $100M Redevelopment, Adding Office Space and Apartments

by John Nelson December 5, 2019

METAIRIE, LA. — The Richards family, the longtime owner and operator of Clearview Shopping Center in Metairie, has unveiled plans to transform the 700,000-square-foot regional mall into a mixed-use destination. Located at 4436 Veterans Memorial Blvd., the new Clearview City Center sits on a 35-acre site approximately six miles northwest of downtown New Orleans. The $100 million project will add a hotel, 260 upscale apartments, open-air restaurants with rooftop seating, 100,000 square feet of office space and green space for outdoor events and concerts. “This is what the next-generation consumer is looking for in a mixed-use development, and we’re bringing it here to the heart of Jefferson Parish,” says Thomas Richards, managing partner of Richards Clearview LLC. The redevelopment will create over 1,600 jobs and is expected to have a $123 million economic impact during construction alone, according to an analysis conduced by Greater New Orleans Inc. Once all phases are complete and Clearview City Center opens, it will support 420 total jobs and deliver $26 million in annual economic impact. Construction on the first phase of the Clearview City Center development is expected to begin in mid-2020, with the shopping center remaining fully operational throughout. The Richards family and …

December 5, 2019

Development Mixed-Use New York Northeast

Brookfield Properties Underway on $950M Mixed-Use Development in The Bronx

by Alex Patton December 4, 2019

NEW YORK CITY — Brookfield Properties is underway on construction of Bankside, a $950 million mixed-use development that will be situated on 4.3 acres in the Mott Haven neighborhood of The Bronx. Plans currently call for 1,350 apartments, 30 percent of which will be marketed at affordable rates, a public waterfront park and promenade and 15,000 square feet of retail space. Hill West Architects is designing the project. Construction will be split into two phases, with the first phase delivering 450 apartments that are expected to open by the end of 2021.

December 4, 2019

Development Mixed-Use New Hampshire Northeast

Tuscan Brands Breaks Ground on 2.8 MSF Tuscan Village Mixed-Use Development in Salem, New Hampshire

by Alex Patton December 3, 2019

SALEM, N.H. — Tuscan Brands has broken ground on construction of Tuscan Village, a 2.8 million-square-foot mixed-use project in Salem, located approximately 30 miles north of Boston. Tuscan Village will comprise 1 million square feet of office space, 800,000 square feet of retail space, 900 residential units for rent and for sale, two hotels, an entertainment district and a medical services facility. Outdoor apparel and equipment retailer L.L. Bean signed a 15,000-square-foot retail lease for a lakefront property on the development’s 6-acre lake that will allow customers to test out kayaks and other water sports equipment on-site. Completion is slated for fall 2020.

December 3, 2019

Development Mixed-Use Northeast Rhode Island Top Stories

Fortuitous Partners Plans $400M Sports-Anchored Project in Rhode Island

by Alex Tostado December 3, 2019

PAWTUCKET, R.I. — Fortuitous Partners has unveiled plans for Tidewater Landing, a $400 million mixed-use development along Pawtucket’s waterfront. The project will include office, residential and hotel space, as well as a 7,500-seat soccer stadium and sports complex for a future United Soccer League (USL) team. Fortuitous Partners will fund the project, while public investment from both the city and state will primarily focus on infrastructure and other non-stadium components of the development plan. “This is an opportunity of a lifetime for the City of Pawtucket, the Blackstone Valley and the State of Rhode Island,” says Pawtucket Mayor Donald Grebien. “This $400 million investment in one of Pawtucket’s Opportunity Zones will create jobs and be a transformative economic development at the gateway into our state.” Upon completion, Tidewater Landing will comprise more than 200 housing units, 100,000 square feet of retail space, a 200-room hotel, an indoor sports event center and 200,000 square feet of office space. The project is currently focused on the Tidewater and Division Street sites that are owned by National Grid and the city, respectively. The final development sites, phasing, construction costs and schedule for the project will be finalized during an upcoming due diligence period, …

December 3, 2019

Features Mixed-Use Student Housing

Providing the Perfect Student Housing Amenity Through Mixed-Use Space

by Katie Sloan December 3, 2019

Both on- and off-campus, today’s student housing developments are providing more than just a place for students to rest their heads. Off campus, new communities are featuring everything from fashion boutiques and restaurants, to office and event space, while residence halls are bringing academics to student’s doorsteps with built-in incubator space and classrooms. While the addition of a mix of uses may seem like the perfect fit for ground floor space, careful planning and consideration is imperative to ensure that the development is a success — especially when it comes to retail. Choosing The Right Mix On the development side, successful mixed-use space should begin with thoughtful deliberation. Developers must consider not only the needs of the student population, but the community at large. “At the outset, we evaluate whether there is true retail market demand in locations where we target development,” says JJ Smith, president of CA Student Living. “If there isn’t a sufficient population base, it can be difficult for even the best businesses to survive, much less thrive. We don’t want to force retail in locations that simply don’t make sense.” Wes Rogers, president and CEO of Landmark Properties, knows firsthand how important careful planning can be when …

December 3, 2019

Development Florida Hospitality Mixed-Use Southeast

CitizenM, Miami Worldcenter Associates Break Ground on 351-Room Downtown Hotel

by John Nelson December 2, 2019

MIAMI — Netherlands-based hotel chain citizenM and developer Miami Worldcenter Associates have broken ground on a new citizenM hotel in downtown Miami. The hotel will be part of a $4 billion mixed-use development called Miami Worldcenter. Owner, operator and developer citizenM and master developer of the mixed-use campus Miami Worldcenter Associates will make the 700 NE 2nd Ave. property into a 12-story, 351-room hotel spanning 128,000 square feet. According to plans from general contractor Suffolk Construction and architectural firm Gensler, the hotel will feature a sundeck and rooftop bar, as well as 1,850 square feet for societyM, citizenM’s branded creative spaces and meeting rooms. The site is located across the street from the MiamiCentral terminal and adjacent to Miami Worldcenter’s pedestrian-only, open-air shopping promenade. Miami Worldcenter is a 27-acre “city within a city” delivering in phases. It will feature residential, commercial and hospitality uses, as well as of 300,000 square feet of retail, restaurant and entertainment space. The project’s first phase includes the recently completed Paramount Miami Worldcenter that features 513 upscale condominiums; the 444-unit Caoba apartment tower, which opened earlier this year; and the 434-unit Luma rental tower, now underway. In addition, Hines is preparing to build a new …

December 2, 2019

California Development Loans Mixed-Use Office Restaurant Retail Western

Meridian Capital Arranges $52M in Construction Financing for Mixed-Use Project in Los Angeles

by Amy Works December 2, 2019

LOS ANGELES — Meridian Capital Group has arranged $52 million in non-recourse construction financing for Produce LA, a speculative mixed-use development located in Los Angeles. The three-year loan, which a balance sheet lender provided, features a floating rate, two one-year extension options and full-term interest-only payments. Seth Grossman and Sarah Kuebler of Meridian negotiated the financing for the undisclosed borrower. Located at 640 S. Santa Fe Ave., the 71,400-square-foot development site is located within an Opportunity Zone in the Arts District of downtown Los Angeles. When complete, the four-story, 113,600-square-foot property will feature Class A creative office space with ground-floor restaurant and retail space and a 4,300-square-foot rooftop terrace. Additionally, the project will sit above two levels of subterranean parking and include an adjacent 64-stall surface lot, totaling 216 parking spaces for the property. Produce LA is also located adjacent to the Sixth Street Viaduct project, a new bridge and 12-acre park slated to open in 2020, as well as the proposed Sixth Street metro station.

December 2, 2019

Development Florida Mixed-Use Office Southeast

Bromley to Develop 70,000 SF Boutique Office Building at Midtown Tampa Project

by John Nelson November 27, 2019

TAMPA, FLA. — Bromley Cos. has unveiled plans for a 70,000-square-foot, standalone office building within its Midtown Tampa project called The Loft at Midtown Tampa. The three-story building will feature ground-floor retail space with boutique office space on the second and third floors. The property will offer 15-foot ceilings, skylights and an outdoor terrace. Located near Midtown Commons park, The Loft will be adjacent to the dual-branded Aloft and Element hotels and 400 planned apartments. The office space will serve as an alternative to three traditional office towers already announced for the $500 million Midtown Tampa project, which will total 750,000 square feet. The first tower, Midtown One, is currently under construction with completion expected in 2021. Robin Bishop of Cushman & Wakefield’s Tampa office is Bromley’s leasing agent for The Loft.

November 27, 2019

California Development Hospitality Mixed-Use Multifamily Office Retail Top Stories Western

Republic Urban Properties, Principal Real Estate Plan $401M Gateway at Millbrae Station Mixed-Use Project in Bay Area

by Alex Patton November 27, 2019

MILLBRAE, CALIF. — A partnership between Republic Urban Properties and Principal Real Estate Investors is preparing to break ground on a transit-oriented, mixed-use project named Gateway at Millbrae Station in Millbrae, a suburb just south of San Francisco. Located at the Millbrae Bay Area Rapid Transit (BART) station, the development will comprise 157,000 square feet of office space, 320 market-rate apartments, 80 affordable housing units, a 164-room hotel, 400 homes and 44,000 square feet of retail. Development costs are estimated at $401 million. The two developers formed a partnership called Republic Millbrae LLC, which will finance, construct and own the residential and office components of the project. “Gateway at Millbrae Station promises to be the new standard for revitalizing transit stations by increasing ridership while increasing revenues and creating much-needed affordable housing and jobs for the city of Millbrae and San Mateo County,” says Michael Van Every, president and CEO of Republic Urban Properties. The Millbrae BART Station and parking garage will remain open during construction, which is scheduled to begin on Wednesday, Dec. 4. “BART’s transit-oriented development helps the Bay Area address two of its greatest challenges: worsening traffic congestion and the lack of affordable housing,” says Bevan Dufty, …

November 27, 2019

Newer Posts

Older Posts