Mixed-Use

United Properties, Principal Real Estate Announce Phase II of Inova Dry Creek in Denver

by Nellie Day June 14, 2016

DENVER — A joint venture between United Properties and Principal Real Estate Investors have announced the second phase of Inova Dry Creek, a 650,000-square-foot, mixed-use campus in Denver. Phase II will contain a second speculative Class A office building containing 235,800 square feet. Construction will commence in the coming weeks, with an expected delivery date in the third quarter of 2017. Development plans call for three additional buildings on the 58-acre site. The developers broke ground on Inova 1, the first phase of the campus, in September. It is slated for completion in November, with Comcast taking occupancy in the first quarter of 2017. The JV will also soon break ground on Inova Flex, a 70,632-square-foot flex property at the campus. Power Home Remodeling Group has recently signed a lease at this space. Powers Brown Architecture has designed the project, while Adolfson & Peterson Construction is serving as the general contractor for Inova 1.

June 14, 2016

Mixed-Use Multifamily New York Northeast Office Retail Top Stories

WinnDevelopment, GDD Properties Break Ground on $200M Redevelopment of The Sibley Building in Rochester

by Katie Sloan June 14, 2016

ROCHESTER, N.Y. — WinnDevelopment and GDD Properties, in a public-private partnership with New York State, have broken ground on the $200 million redevelopment of The Sibley Building, located at the intersection of East Avenue and East Main Street in downtown Rochester. The Sibley Building opened in 1868 as the city’s first department store, and earned a spot on the National Register of Historic Places in 1984. The property will be rebranded as Sibley Square, with the name, logo and signage to be changed in the coming weeks. The phased redevelopment will begin with the $100 million construction of 96 modern apartments on the ninth through 12th floors of the building. Phase I will also include the addition of boutique retail, local artisan foodservice tenants, office space and active senior living apartments, as well as a complete rehabilitation of the façade and windows of the property. The residential components of the building will be named The Lofts at Sibley and The Residences at Sibley. Leases for active adult units at The Residences will be available by the end of this year. Redevelopment of the top floor of the building, once home to the Tea Room of the Sibley Department Store, is …

June 14, 2016

SLS Atlanta Hotel & Residences Midtown Atlanta

Georgia Hospitality Mixed-Use Multifamily Southeast

SBE, Trillist to Develop Hotel, Condo Tower in Midtown Atlanta

by John Nelson June 13, 2016

ATLANTA — Los Angeles-based sbe and Atlanta-based Trillist Cos. Inc. have partnered to develop the SLS Atlanta Hotel & Residences in Midtown Atlanta. The mixed-use tower will feature 213 hotel room and suites, 56 condominium residences, dining options and meeting spaces. Ranging in size from 1,600 to 4,000 square feet, the residences will feature a mix of two-, three- and four-bedroom units. Trillist and sbe plan to break ground on the tower in early 2017 with completion slated for early 2019. Dakota Development, a subsidiary of sbe, will collaborate with Trillist on the property’s design and concept. SLS Atlanta Hotel & Residences will be situated near the Woodruff Arts Center, High Museum of Art, Midtown Mile and Piedmont Park.

June 13, 2016

California Mixed-Use Multifamily Top Stories Western

Century West Partners to Break Ground on $280M Multifamily Development in Metro Los Angeles

by Katie Sloan June 10, 2016

GLENDALE, CALIF. — Century West Partners will break ground today on Next on Lex, a $280 million, mixed-use multifamily development located in the Los Angeles suburb of Glendale. The transit-oriented development, located at 201 Lexington Drive, will occupy a full block and will feature four, six-story buildings that include a mix of one-, two- and three-bedroom units and studio lofts. The property will also offer 10 live-work units, as well as three levels of underground parking with space for 753 cars and 152 bicycles. Next on Lex will include 8,140 square feet of retail space, which will be occupied by a Citibank branch alongside other tenants. Amenities at Next on Lex will include outdoor living areas; pools and hot tubs; landscaped courtyards including a rooftop deck and sky lounge; multiple sun decks; and a variety of community spaces. The property will also feature an onsite business center; yoga studio and fitness center; a media room; game room; private massage room; and party room and kitchen. Demolition on the existing office building on-site took place in April, according to reports by the Los Angeles Times. Santa Monica, Calif.-based Killefer Flammang Architects (KFA) designed the project. Chicago-based W.E. O’Neil Construction is the …

June 10, 2016

Indiana Midwest Mixed-Use

Hendricks Commercial Properties to Develop $260M Mixed-Use Project in Indianapolis

by Christina Cannon June 8, 2016

INDIANAPOLIS — Indianapolis Public Schools has selected Hendricks Commercial Properties to develop a former Coca-Cola bottling plant in downtown Indianapolis. The $260 million mixed-use project will encompass over 1 million square feet of space and be situated on 11 acres. The proposed development will include a boutique hotel, retail, residential units, entertainment options, creative office spaces, educational facilities and structured parking. The development will be located along Massachusetts Avenue, an arts and entertainment district.

June 8, 2016

Connecticut Loans Mixed-Use Northeast Office Retail

Cornerstone Realty Negotiates $2.9M Acquisition Loan for Mixed-Use Property in Connecticut

by Amy Works June 7, 2016

MIDDLETOWN, CONN. — Cornerstone Realty Capital has arranged $2.9 million in financing for the acquisition of a mixed-use property in Middletown. The office and retail property consists of five buildings totaling 47,250 square feet. Additionally, the property features 104 parking spaces. The name of the borrower was not released.

June 7, 2016

Colorado Mixed-Use Western

OZ Architecture to Design DriveTrain Mixed-Use Development in Denver

by Nellie Day June 6, 2016

DENVER — Developers Tom and Brooke Gordon have chosen OZ Architecture to design DriveTrain, a mixed-use development to be built in Denver’s RiNo neighborhood. The development is projected to cost between $75 million and $90 million, according to reports by the Denver Business Journal. The project will include pedestrian-friendly, interconnected residential, retail, restaurants, incubator space for local chefs and artists, underground parking and a 120-room boutique hotel. The property’s residential component will include condominiums ranging from penthouses, to micro-units and affordable housing. Groundbreaking is expected to take place in early 2017, with completion scheduled for late 2018.

June 6, 2016

Hospitality Loans Mixed-Use Northeast Office Retail Rhode Island

Rhode Island Approves $7M in State Relocation, Redevelopment Credits for Three Project

by Amy Works May 26, 2016

WESTERLY, PROVIDENCE AND WARWICK, R.I. — Rhode Island Commerce Corp. Board of Directors and Rhode Island Governor Gina Raimondo have approved more than $7 million in state relocation and redevelopment credits. Funding three projects, the economic development tools include $362,055 in tax credits under the Qualified Jobs Incentive Tax Credit Program to support company relocation and growth, $3 million for the first Tax Increment Financing agreement to support hotel development and $3.6 million Rebuild Rhode Island tax credits to fund the redevelopment of a historic property. Ivory Ella, a socially-minded online retailer, will receive the $362,055 for the relocation of 40 of its current jobs, 19 of which qualify under the Qualified Jobs Incentive Tax Credit program, from Connecticut to Westerly. Homewood Suites Hotels – Exchange Street LLC will receive $3 million for the construction of a $24.5 million 120-room hotel with ground-floor retail in downtown Providence. The board approved $3.6 million in Rebuild Rhode Island tax credits to support the adaptive reuse of a vacant historic mill complex along the Pawtuxet River in Warwick. The property will be redeveloped into a 200,000-square-foot mixed-use development, costing an estimated $34.6 million.

May 26, 2016

Midwest Mixed-Use Ohio

Nationwide Realty Investors to Develop Mixed-Use Building at Grandview Yard

by Christina Cannon May 26, 2016

COLUMBUS, OHIO — Nationwide Realty Investors is set to begin the development of a mixed-use building at the north end of Grandview Yard, a 1.2 million-square-foot commercial development in Columbus. The four-story Manchester Building will consist of over 14,000 square feet of restaurant and retail space and 123 residential units. The property will be located on Yard Street adjacent to the new Nationwide campus.

May 26, 2016

Mixed-Use Multifamily New Jersey Northeast Retail

Brunetti Organization to Develop 2,400-Acre Mixed-Use Town Center in New Jersey

by Amy Works May 25, 2016

OLD BRIDGE, N.J. — The Brunetti Organization is developing The Oaks at Glenwood, a 2,400-acre mixed-use town center development in Old Bridge. Construction for the 90,000-square-foot ShopRite supercenter is slated to begin soon, with occupancy of the grocery store and other retail tenants scheduled for summer 2017. ShopRite will anchor the retail portion of the property. Upon completion, the mixed-use property will feature 2,000 residential units and more than 500,000 square feet of retail space. The Goldstein Group is marketing the retail portion of the property.

May 25, 2016

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