NEW YORK CITY — A joint venture between Taconic Investment Partners and Denham Wolf Real Estate Services has begun a new phase of the $25 million renovation project currently under way at The BankNote, a four-building, 405,000-square-foot office and retail property located in the Hunts Point neighborhood of the Bronx, New York City. The phase, scheduled for completion this year, will include parking lot renovations, the addition of landscaping and pedestrian walkways, new lobbies, a new cooling tower, corridor upgrades, new bathrooms, and a modernization of the elevators in the Lafayette and Barretto buildings. The joint venture is seeking LEED certification for the project. The project architect is Beyer Blinder Belle.
WEST PALM BEACH, FLA. — Fort Lauderdale, Fla.-based Moss & Associates has completed construction on The Related Group’s $106 million CityPlace South Tower mixed-use project. The property encompasses a 20-story building that includes 420 residences and 9,333 square feet of ground-floor retail space. An adjoining parking structure features a 22,940-square-foot recreation space, which features a pool and spa, gardens and a cascading fountain.
MILWAUKEE — Inland Cos., TMB Development and Dermond Properties have completed the renovation of the Pabst Boiler House located at 1243 N. 10th St. in Milwaukee. As part of the Pabst Boiler House project, Inland Cos. has completed the 2,170-square-foot build-out for Albion Architects and the 4,615-square-foot build-out for AMB Development. Both tenants have taken occupancy at the building, and were the first office tenants to move into the development. The 59,180-square-foot office building is situated within the former Pabst Brewery site, which houses more than 20 buildings that are being restored. The approximately 20-acre site, which is owned by local developer Joe Zilber of Zilber Ltd., is master-planned to include more than 1.3 million square feet of office, retail and residential uses. In addition to the Pabst Boiler House, the former Keg House at the site was converted into a 95-unit loft-style apartment community. Blue Ribbon Lofts was developed by Oregon, Wis.-based Gorman & Co. Building amenities include a music studio, artists’ workspaces and galleries, a business center and conference rooms, a theater/presentation space and a fitness center.
ST. LOUIS — On January 22, the Ballpark Village mixed-use project received preliminary approval from a St. Louis Board of Alderman committee. The board’s Housing, Urban Development & Zoning Committee approved subsidies of up to $188 million for the multi-phased project. The approximately $650 million project will be developed by Baltimore-based The Cordish Company and the St. Louis Cardinals. Plans for the development call for approximately 100,000 square feet to 360,000 square feet of retail, entertainment and restaurant space; approximately 100,000 square feet to 750,000 square feet of office space; approximately 250 residential apartments and/or condo units; one or more additional uses; and approximately 1,200 parking spaces. In order for the project to commence, the full Board of Alderman must approve the project. Additionally, the project must receive state approval for subsidies through the Missouri Downtown Economic Stimulus Act.
PHILADELPHIA — Tower Investments is nearing completion for The Piazza at Schmidt’s, a $150 million mixed-use project located in the Northern Liberties neighborhood of Philadelphia. The project consists of the brownfield redevelopment of the former Schmidt’s Brewery at Second Street and Girard Avenue. Upon completion, the project will comprise 500 residential units and 100,000 square feet of retail and restaurant space. In addition, the project will feature an 80,000-square-foot public space that will host events such as concerts, open-air markets, movie nights and private social events. The space will be able to hold up to 5,000 people and will include a permanent performance stage, as well as a 16-foot by 26-foot, hi-definition video screen. The grand opening is scheduled for May. The Piazza at Schmidt’s is the beginning of Tower Investments’ revitalization of Northern Liberties. Tower currently controls 28 acres of land in the neighborhood, which will eventually contain approximately 1,500 residential units and more than 400,000 square feet of office and retail space in a combination of redevelopment and new construction projects.
HONOLULU — The Hawai‘i Community Development Authority has approved a proposed more than 20-year plan by Victoria Ward Ltd. to develop a 60-acre mixed-use project in the heart of Honolulu. The oceanfront neighborhood is planned to feature as many as 4,300 residential units; 5 million square feet of retail, restaurant and entertainment space; 4 million square feet of office and commercial space; 700,000 square feet of industrial space; and 14 acres of open space, parks and public facilities. Victoria Ward Ltd. is an affiliate of General Growth Partners Inc., a U.S.-based publicly traded REIT.
KANSAS CITY, MO. — Developer LANE4 Property Group has begun demolition of the former Bannister Mall, which is located at Interstate 435 and Bannister Road in Kansas City. The site will house The Trails, a proposed 467-acre mixed-use development. The project will include more than 1.5 million square feet of office space and a 1 million-square-foot retail component. An 18,500-seat professional soccer stadium, which will house Kansas City’s major league soccer team, the Wizards, will anchor The Trails. In addition to the stadium, the complex will include 12 soccer fields for hosting local, regional and national tournaments.
ORLANDO, FLA. — Tremont Realty Capital has assumed operational control of the 260,000-square-foot Church Street Station, located in downtown Orlando. Kuhn Church Street had taken out a $43 million first mortgage for the mixed-use property with Boston-based Tremont in 2007. Tremont has enlisted CNL Commercial Real Estate to manage the property. Current Church Street tenants include the Orlando Magic and the Cheyenne Saloon and Opera House.
NEW YORK CITY — Meltzer/Mandl Architects has completed the design for The Smith, a 13-story mixed-use building located at 75 Smith St. in the Boerum Hill neighborhood of Brooklyn, New York City. The building will feature a 93-room hotel on floors one through four, 50 residential condominiums on floors five through 13, 1,100 square feet of medical office space, and retail space fronting Atlantic Avenue. The condos will be primarily two-bedroom units, but the 12th floor residences will comprise duplex units with rooftop terraces. The property will also feature 64 parking spaces and below-grade storage space. The building’s exterior is a brick and panelized façade, and the building steps down to four stories along its State Street frontage, in keeping with the look of the surrounding neighborhood of brownstones and townhome residences. The project’s developer is Boymelgreen, and general contracting services are being provided by Alisa Construction. The project’s timetable was not released.
WILTON MANORS, FLA. — LG Wilton Park has broken ground on Gables Wilton Park, a mixed-use development encompassing 19,000 square feet of retail space and 72 apartments. The property, which is located at the intersection of N.E. 21st Court and Wilton Drive in Wilton Manors, was designed by Fort Lauderdale, Fla.-based Pasquale Kuritzky Architecture. Delivery is slated for the third quarter. Also planned on the site are 10 residential buildings containing 73 three-story apartments.