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Mixed-Use

DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Stonecrest Resorts Signs 12 Tenants as Part of Stonecrest Mall Redevelopment in Metro Atlanta

by John Nelson

STONECREST, GA. — Stonecrest Resorts LLC, developer of the Sears adaptive reuse project at The Mall at Stonecrest in metro Atlanta, has announced 12 new tenants coming to the development. Phase I of the redevelopment project, called Priví, was the arrival of the SeaQuest Interactive Aquarium that opened in November 2021. The second phase of the project is set to open this fall and include Hand & Stone Massage and Facial Spa; Baldwin’s Literary Social Bookstore & Coffee Bar; 3 Degrees Infrared Sauna Suites; The Lions Cage MMA Fight & Fitness Gym; Garden Life Juice Bar & Café; The Original Hot Dog Factory; Picasso’s Splat Room; Naturally Gifted Treasures & Finds; and Bricks 4 Kidz. In addition to the new shops and restaurants, Phase II will include 6,000 square feet of event space, a coworking space, studios and a fine art gallery. Construction of Phase III and the development of Phase IV will continue this winter, with a planned opening of an upper-level food hall in summer 2023 and the TRYP by Wyndham hotel coming on line in 2024. Once fully developed, Priví will be a family entertainment and lifestyle destination featuring over 200,000 square feet of eateries, shops, services, …

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CaliforniaDevelopmentMixed-UseTop StoriesWestern

Anaheim City Council Approves $4B ocV!BE Mixed-Use Entertainment District Surrounding Honda Center

by Jeff Shaw

ANAHEIM, CALIF. — The Anaheim City Council has approved plans for the $4 billion ocV!BE mixed-use entertainment district to surround the Honda Center, home of the NHL’s Anaheim Ducks. With this approval, construction of the project is scheduled to begin before the end of the year. Plans for the 95-acre development call for a 5,700-seat concert hall, 50,000-square-foot market hall, 20 acres of public space, two hotels totaling 650 rooms, approximately 1.1 million square feet of office space and 1,500 apartments with a 15 percent affordable housing component. The site is already home to the Anaheim Regional Transportation Intermodal Center (ARTIC), offering rail, bus, taxi and other transportation services to surrounding areas. The development will also include several sustainability features such as rooftop solar panels on all the parking garages and a central utility plant which will provide energy efficiency throughout the campus, providing a 25 percent savings in power usage. As a result, ocV!BE will seek LEED certification for all office, hotel and concert hall buildings. It will also seek WELL Building Standard certification for all commercial and residential buildings. The Samueli Family, which currently owns the Anaheim Ducks and manages the Honda Center, is leading the development team. …

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DevelopmentFloridaLoansMixed-UseNorthmarqSoutheast

Northmarq Secures $78.5M Construction Loan for Pinnacle Apartments in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Northmarq has secured a $78.5 million construction-to-permanent financing for the development of Pinnacle Apartments, a 376-unit multifamily community located at 8760 Pinnacle Park Blvd. in Jacksonville’s Southside submarket. Ryan Whitaker of Northmarq originated the loan through a life insurance company on behalf of the undisclosed borrower. The 10-year loan features five years of interest-only payments followed by a 30-year amortization schedule. Planned amenities at Pinnacle include a business center, clubhouse, lounge, 24-hour fitness center, two resort-style swimming pools with sundecks, grill and picnic areas, a movie theater room with recliner seating, car care center, EV charging, indoor bike storage, game room, parking garage, dog agility park and an indoor pet spa. The construction timeline was not disclosed.

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DevelopmentGeorgiaHospitalityMixed-UseMultifamilyOfficeSoutheast

MetLife, Granite Complete Midtown Union Mixed-Use Development in Atlanta

by John Nelson

ATLANTA — MetLife Investment Management and Granite Properties have delivered Midtown Union, a mixed-use development located at 1331 Spring St. in Midtown Atlanta. The project comprises three buildings: a 26-story office tower, the 26-story Mira at Midtown Union apartment high-rise and the 14-story Kimpton Shane Hotel. The office and multifamily towers opened in July, and the hotel just opened on Sept. 21. The office tower spans 612,000 square feet and will be anchored by Invesco, which plans to occupy 300,000 square feet beginning in early 2023. The Mira comprises 355 studio, one-, two- and three-bedroom apartments, as well as upscale amenities. Kimpton Hotels & Restaurants will operate the hotel, which features 230 rooms, meeting and event space, the Hartley Kitchen and Cocktails restaurant and the Aveline cocktail lounge. MetLife partnered with StreetLights Residential on the apartment tower and AMS Hospitality on the Kimpton Shane Hotel. The design-build team for the overall Midtown Union campus includes architect Cooper Carry and general contractor Brasfield & Gorrie, as well as Studio 11 Design for the hotel design. Brooke Dewey and Adam Viente (office) and Coleman Morris (retail) of JLL are leading leasing efforts at Midtown Union.

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DevelopmentMixed-UseNorth CarolinaSoutheast

CBRE to Lead Overhaul of EpiCentre Mixed-Use Development in Uptown Charlotte

by John Nelson

CHARLOTTE, N.C. — CBRE has announced plans to lead the marketing, property management and renovations at the 302,324-square-foot EpiCentre mixed-use development in Uptown Charlotte, which opened in 2008 before CBRE took it out of receivership in 2021. CBRE plans to begin a renovation project at the development, which has been renamed Queen City Quarter after Charlotte’s nickname “The Queen City.” Streetsense, a global urban design and placemaking agency, has been engaged to shape the physical and branding elements of the property. Significant repairs to the courtyard, parking garage, patios and roof are underway and expected to be complete by year-end. In 2023, Queen City Quarter’s public staircases and escalators will also be renovated, and new landscaping, lighting, benches and security cameras will be installed. CBRE’s Kivett Williams is the exclusive marketing and leasing agent for the retail space at Queen City Quarter, and CBRE’s Kris Westmoreland is the exclusive marketing and leasing agent for the office space and will be involved in the rebranding. The development can accommodate traditional retail, restaurants and office tenants in addition to creative office, medical office and various other office and retail uses. CBRE Property Management is leading the property management services at the property. …

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AcquisitionsMixed-UseMultifamilyNorth CarolinaSoutheast

Matthews Brokers $44.8M Sale of Loray Mill Lofts in Gastonia, North Carolina

by John Nelson

GASTONIA, N.C. — Matthews Real Estate Investment Services has brokered the $44.8 million sale of Loray Mill Lofts, an adaptive reuse development located at 300 S. Firestone St. in Gastonia, a suburb of Charlotte. Originally constructed in 1902 and renovated in 2016, Loray Mill Lofts is situated on 12 acres and comprises 189 apartments and 75,000 square feet of commercial space. Atlanta-based TriBridge Residential purchased the 600,000-square-foot mixed-use property from an entity doing business as Loray Mill Redevelopment LLC. Jack Lenihan and Connor Kerns of Matthews represented the seller in the transaction.

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DevelopmentMixed-UseSoutheastVirginia

Northland Buys 22-Acre Mixed-Use Development Site in Metro Richmond for North End Project

by John Nelson

GLEN ALLEN, VA. — Northland has purchased a 22-acre mixed-use development site in the Innsbrook neighborhood of Glen Allen, a suburb of Richmond. The New England-based private equity investment firm is planning to build a live-work-play development with main street-style retail space at the site, which is dubbed North End. The site is currently zoned for up to 700 multifamily units, 55,000 square feet of retail space and a 150-room hotel. Northland will begin early stages of design and master planning efforts this year. Additionally, Highwoods Properties is planning to develop a Class A, 315,000 square-foot office building adjacent to the site. North End marks Northland’s entry to the metro Richmond market.

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Affordable HousingDevelopmentGeorgiaIndustrialMixed-UseMultifamilyRetailSoutheast

Atlanta BeltLine Inc. Selects Culdesac to Develop 20-Acre Murphy Crossing Mixed-Use Project in Southwest Atlanta

by John Nelson

ATLANTA — Atlanta BeltLine Inc. (ABI) has selected development firm Culdesac for the 20-acre Murphy Crossing project located at 1050 Murphy Ave. in southwest Atlanta’s Oakland City neighborhood. Culdesac, which recently delivered a “car-free” mixed-use development in Tempe, Ariz., will be working with Urban Oasis Development, Kronberg Urbanists + Architects, LDG Consulting and T. Dallas Smith and Co. on the Murphy Crossing project, which will be branded Murphy Crossing by Culdesac. Plans for the development are subject to change pending community feedback, but preliminarily the project will comprise new and existing buildings that will house market-rate and affordable housing apartments, a grocery store, retail and dining options, light industrial space, coworking spaces, arts and culture programming and a farmer’s market, honoring the site’s history as the location for the Georgia Farmers Market in the 1940s and 1950s. Murphy Crossing by Culdesac will give residents proximity to the Oakland City and West End MARTA stations. Additionally, 25 percent of the residential units will be designated permanently affordable with an additional 5 percent of units deemed affordable for at least the next 30 years. The target rent restriction for the affordable units is between 60 and 80 percent of the area median …

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AcquisitionsAffordable HousingFloridaMixed-UseMultifamilyRestaurantRetailSoutheast

Avanath Capital Purchases City View Mixed-Use Development in Orlando for $62.5M

by John Nelson

ORLANDO, FLA. — Avanath Capital Management has purchased City View, a mixed-use development located at 595 Church St. in Orlando, for $62.5 million. The buyer purchased the asset using a combination of its commingled fund equity and debt financing from JPMorgan Chase and Fannie Mae. Marcus & Millichap’s Affordable Housing Advisors division brokered the sale. Nearly half of City View’s 266 apartments are designated affordable, with the property’s rent restrictions continuing until 2050. Avanath Capital has taken steps to preserve the current designations of 28 units at 50 percent of area median income (AMI), 79 units at 60 percent of AMI and 24 units at 120 percent of AMI. The property was 96.9 percent occupied at the time of sale. In addition to the apartments and resident amenities, City View houses 13 commercial tenants occupying nearly 25,000 square feet, including boutique retail, restaurant, deli and financial education/literacy users, as well as the Orlando Police Department. Avanath Capital plans to complete interior renovations of the market-rate units to bring finishes and rents in-line with those of market competitors. Additionally, the firm will upgrade City View’s common areas and retails spaces and replace the roof, HVAC and boiler.

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One-Westfield
Affordable HousingDevelopmentMixed-UseMultifamilyNew JerseyNortheastOfficeRetailSeniors HousingTop Stories

HBC, Streetworks Unveil Plans for 731,000 SF Mixed-Use Redevelopment Project in Westfield, New Jersey 

by Katie Sloan

WESTFIELD, N.J. — A partnership between Hudson Bay Co. (HBC) and StreetWorks Development, the company’s property development division, has unveiled plans for a mixed-use redevelopment project in Westfield, roughly 22 miles west of New York City.  The developer plans to convert a 731,000-square-foot building previously occupied by a Lord & Taylor department store, as well as several town-owned parcels, into One Westfield Place, a transit-served development with an array of uses and pedestrian features. Preliminary plans call for 310,000 square feet of office space across two buildings; 27,000 square feet of retail and restaurant space throughout the development; 154 age-restricted apartments and townhomes; 69 market-rate apartments; an unspecified amount of affordable housing in accordance with local and state requirements; and two parking garages that can accommodate over 450 cars. The development team also plans to revitalize the downtown area with pocket parks, event spaces, water features and a mobility hub connecting the two sides of the train station that offers storage, bike stations and ride sharing areas. The joint venture will collaborate with Dan Biederman — president of Biederman Redevelopment Ventures, which runs the programs in New York City’s Bryant Park — to develop a plan to strategically program events and …

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