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Mixed-Use

Waterline-Austin
DevelopmentMixed-UseTexasTop Stories

Lincoln Property Co., Kairoi Top Out 74-Story Waterline Mixed-Use Tower in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between Dallas-based Lincoln Property Co. and San Antonio-based Kairoi Residential has topped out Waterline, a 74-story mixed-use tower located at 98 Red River St. in downtown Austin. The property gets its name from the site’s location near the nexus of Waller Creek and Lady Bird Lake. According to the development team, at 1,025 feet, Waterline is now the tallest building in Texas, eclipsing JPMorgan Chase Tower in Houston, which had allegedly been the state’s tallest building since 1981. Construction of Waterline began in fall 2022 and is expected to be fully complete in late 2026. Waterline will ultimately feature 352 upscale apartments, 700,000 square feet of office space, a 251-room hotel that will be operated under the 1 Hotels brand and 24,000 square feet of ground-floor retail and restaurant space. Residential amenities will include two pools, a fitness center, lounge, kitchen and coworking space. Office tenants will also have access to a fitness center, as well as a bar and lounge and indoor meeting spaces. The partnership is now marketing office space for lease. The launch of residential leasing and the opening of the hotel are scheduled for this fall. Kohn Pedersen Fox (KPF) is …

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CaliforniaDevelopmentLoansMixed-UseMultifamilyRetailWestern

MMCC Arranges $64M in Construction Financing for Rancho Cucamonga Mixed-Use Development

by Amy Works

RANCHO CUCAMONGA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $64 million in financing for the construction of a mixed-use development project at 8500 Haven Ave. in Rancho Cucamonga. Ron Bayls of MMCC secured the financing through Parkview Financial on behalf of a private developer. At full build-out, the 248-apartment project will feature six residential buildings, a mixed-use building, ground-floor commercial space and a retail building. Planned apartment amenities include a pool, fitness center, pickleball court, clubhouse, onsite laundry and landscaped outdoor areas.

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Prism-ON3-Nutley-New-Jersey
DevelopmentMixed-UseNew JerseyNortheast

Prism Capital Partners Receives Three Approvals for Northern New Jersey Mixed-Use Redevelopment

by Taylor Williams

CLIFTON AND NUTLEY, N.J. — Locally based development and investment firm Prism Capital Partners has received three redevelopment plan approvals from the City of Clifton and the Township of Nutley, both located in Northern New Jersey, for a mixed-use project. The project is part of Prism’s 116-acre ON3 campus, which is a redevelopment of the former North American headquarters campus of pharmaceutical company Hoffmann-La Roche. The approvals pave the way for the construction of up to 1,074 multifamily units, 90,000 square feet of retail and restaurant space and a 150,000-square-foot life sciences facility, as well as a potential data center. In Clifton, Prism’s newly approved Phase IV redevelopment plan includes the multifamily and retail elements, sited on acreage along Route 3 East. The July approval covers Prism’s plan to introduce new housing, restaurants and retail space. In Nutley, ON3’s Innovation Center tract fronting Kingsland Street is earmarked for the development of a research-and-development facility. Prism has secured an undisclosed, international consumer products company to lease the property and anticipates an imminent site plan approval filing. Construction could begin in the coming weeks. Additionally, Nutley has approved Prism’s plan to redevelop 11 acres at 275 Kingsland St., a site that can accommodate …

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DevelopmentLeasing ActivityMixed-UseMultifamilyNorth CarolinaRestaurantRetailSoutheast

Ardent Closes on Land Acquisition for Westside Bottling Project in Durham, Signs Leases With Sprouts and Shake Shack

by John Nelson

DURHAM, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which at full build-out will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an existing bank branch on the site, will continue to operate at Westside Bottling. The development sits three miles west of downtown Durham and north of Duke University and Duke University Medical Center.

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One Rosslyn
Company NewsDevelopmentMixed-UseSoutheastTop StoriesVirginia

Penzance Receives Approval for 970,000 SF Mixed-Use Development in Arlington, Virginia

by Abby Cox

ARLINGTON, VA. — Penzance, a locally based commercial real estate development and management firm, has received approval from Arlington County for a proposed three-tower, luxury mixed-use development in Arlington’s Rosslyn district. Dubbed One Rosslyn, the new development will deliver more than 970,000 square feet of rental apartments, for-sale residential condominiums and retail space along Gateway Park, which will replace the current Rosslyn Gateway office buildings. Upon completion, One Rosslyn will deliver a total of 845 residential units. Penzance is developing the project in partnership with Boston-based investment manager The Baupost Group. STUDIOS Architecture and Hickok Cole collaborated to design the three-tower composition. One Rosslyn’s south tower will stand the tallest at 300 feet, while delivering 461 residences across 434,000 square feet. The northwest apartment tower, which is the second tallest building, will span 356,000 square feet and include 311 rental units. Lastly, the project’s northeast tower will offer 73 for-sale condominiums across 195,000 square feet. Residents will also have access to a private, 30,000-square-foot landscaped terrace overlooking Gateway Park. Additionally, the ground level will provide more than 14,000 square feet of curated retail space along all four blocks of the property. Designed to enhance walkability and encourage multimodal transportation, public spaces …

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Company NewsGeorgiaMixed-UseMultifamilySoutheast

Hunt Cos. Acquires Majority Interest in Carter

by John Nelson

EL PASO, TEXAS AND ATLANTA — Hunts Cos. Inc. has acquired a controlling interest in Carter, a mixed-use and residential real estate investment and development firm based in Atlanta. The El Paso-based firm is acquiring the majority stake in Carter and buying out longtime CEO and chairman Bob Peterson, who has subsequently announced his retirement. Current CEO and president Scott Taylor will continue to oversee the day-to-day operations at Carter post-acquisition. Terms of the transaction were not released. The partnership aims to grow Carter’s banking relationships, expand the company’s mixed-use development platform and secure additional investment opportunities in key markets. Hunt Cos. and Carter have previously collaborated on Prospect Lake Wire, a 22-acre mixed-use development underway in Lakeland, Fla., and for The DeSOTA, a luxury apartment development in Sarasota, Fla.

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Fulshear-Central
DevelopmentMixed-UseTexas

Janapriya Group Breaks Ground on 22-Acre Mixed-Use Project in Fulshear, Texas

by Taylor Williams

FULSHEAR, TEXAS — The U.S. subsidiary of Indian development and investment firm Janapriya Group has broken ground on a 22-acre mixed-use project in Fulshear, a western suburb of Houston. Designed by Kirksey Architecture, Fulshear Central will feature approximately 130,000 square feet of retail, restaurant and office space, as well as open green space and walking trails. Completion is slated for early 2026.

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290 Lumpkin
GeorgiaLoansMixed-UseSoutheast

CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia

by Abby Cox

ATHENS, GA. — CCI Real Estate has obtained $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries (BCM) building at the University of Georgia (UGA) in Athens. Affinius Capital provided financing for the mixed-use redevelopment project. New South Construction will serve as the general contractor on the project, which is slated for completion by June 2027. Dubbed 290 Lumpkin, the eight-story development will serve as the new location for UGA BCM and will offer 240 residential units that will feature one- and two-bedroom apartments. Amenities will include a 356-space parking deck, rooftop deck, student lounge, offices and new ministry spaces that can accommodate more than 500 people. Additionally, the ground floor will include retail space, a coffeehouse and a fitness center. Originally housed at 450 S. Lumpkin St., BCM has been active on UGA’s campus since 1961. CCI is also redeveloping the BCMs at the Georgia Institute of Technology in Atlanta, as well as Georgia Southern University in Statesboro, Ga.

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AcquisitionsDevelopmentMarylandMixed-UseMultifamilyRetailSoutheast

EYA Buys Vacant Shopping Center in Metro D.C., Plans Residential Conversion

by John Nelson

ROCKVILLE, MD. — Locally based EYA has purchased Rockshire Village Center, a long-vacant shopping center located on a 7.3-acre site in Rockville, a suburb of Washington, D.C. The firm plans to convert the retail center into a walkable residential neighborhood comprising 60 residential units (31 single-family detached homes and 29 townhomes), as well as 5,200 square feet of commercial/retail space and a community gathering space. Fifteen percent of the residences will be designated as moderately priced dwelling units. Public features of the new neighborhood will include a park, playground, open lawn with seating and recreation areas, pedestrian-friendly streetscape with connections to Rockshire Community Pool and the Carl Henn Millennium Trail, 29 parking spaces for the pool and sitewide landscaping. EYA plans to begin construction in August, with final completion planned for 2027.

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Westside-Village-Fort-Worth
DevelopmentMixed-UseTexas

Keystone Group, Larkspur Capital Underway on $1.7B Mixed-Use Redevelopment in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between two locally based developers, Keystone Group and Larkspur Capital, is underway on Westside Village, a $1.7 billion mixed-use redevelopment project in Fort Worth. The 37-acre site is an assemblage of parcels that includes the former home of the Fort Worth Independent School District. Plans currently call for 880,000 square feet of office space, 238,000 square feet of retail, restaurant and entertainment space, 1,785 multifamily units and a 175-room hotel, all of which will be developed over four phases. Demolitions of multiple existing buildings on the site are now complete, and the project team has successfully rezoned about half the acreage. In addition, the first office and multifamily buildings within the development are now in the design phase, and construction of both buildings is expected to begin before the end of the year. Negotiations with several retailers are also underway, with construction of those individual buildings also slated to commence before the end of the year. 

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