CHATTANOOGA, TENN. — Nuveen Green Capital has provided an $11.8 million C-PACE loan for the gut renovation of Tivoli Theatre, a historic theater in downtown Chattanooga. The 30-year C-PACE loan is being used as part of a $73.4 million construction financing package with Reinvestment Fund Inc. The financing is being used along with New Market Tax Credits and Historic Tax Credits to fund renovations and new developments, including building exteriors, roofing, windows, HVAC, lighting, plumbing, new elevators and a pit lift. Tivoli Theatre, along with an adjacent office building, will be reimagined as the new Tivoli Performing Arts Center and a new 250-seat cinema and performance art hall. The construction timeline was not released.
SWEETWATER, FLA. — Terra, a Miami-based developer, has obtained a $170 million construction loan to fund the development of Upland Park, a planned $1 billion mixed-use development in the west Miami suburb of Sweetwater. Terra is transforming Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a multimodal hub that will feature a transit station, residences, retail space and commercial uses on a 47-acre site near Dolphin Mall. The local developer is teaming up with Miami-Dade County on Upland Park in a public-private partnership. SCALE Lending, Slate Property Group’s debt financing arm, was the lead lender on the construction loan. Terra will use the loan proceeds to fund Phase I of Upland Park, which will comprise 578 apartments. The first phase is slated to break ground in early 2025. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planner Plusurbia Design, Upland Park will include more than 2,000 new mid-rise and garden-style apartments, about 282,000 square feet of shops and restaurants and approximately 414,000 square feet of commercial space. Upland Park is designed to increase public transit ridership while anchoring the new East-West Corridor of Miami-Dade County’s SMART public transportation plan. Potential transit riders will have direct access …
NASHVILLE, TENN. — Southwest Value Partners, AEG and Virentes Hospitality have announced that Shipley Do-Nuts and Sweet Paris Crêperie & Café will be opening new flagship locations at Nashville Yards in 2025. Nick Gross and Brian Ashby of CBRE represented Virentes Hospitality, which will operate both Shipley and Sweet Paris. Set to open in May, Shipley will be located within the mixed-use development’s creative office building fronting Church Street, which is anchored by CAA. The 11-story tower will feature three levels of retail, dining and entertainment leased to tenants including Iconix Fitness, EVO Entertainment, Fogo de Chão and Ocean Prime. In June, Sweet Paris will open along Signal Street on the first level of The Pinnacle, which is Nashville Yards’ indoor live music and events venue that will open in February with a Kacey Musgraves concert. Nashville Yards will be the first location in Tennessee for Sweet Paris and the brand’s 20th overall.
CARY, N.C. — Hines and Columbia Development Group, in partnership with Affinius Capital, are announcing a nearly 19,000-square-foot wave of retail leases at Fenton, including The Salty Donut, which plans to open its newest location in 2025. Located in the Raleigh suburb of Cary, the 92-acre mixed-use development is located along Cary Towne Boulevard near I-40 and the Research Triangle Park. Other retailers and restaurants that have opened recently at Fenton, or will in 2025, include Brewery Bhavana, Kendra Scott, Vega Vitality, Crawford Brothers Steakhouse and Doc B’s. Full construction of the property will feature 2.5 million square feet of residential, retail, office and entertainment spaces, as well as a seven-story hotel announced earlier this year. The Salty Donut was founded as a pop-up in Miami in 2015 and has since grown to multiple locations in Florida and Texas, as well as restaurants in Charlotte, Denver, Nashville and metropolitan Washington, D.C.
MCKINNEY, TEXAS — A partnership between the City of McKinney, located north of Dallas, and developer Cole Cannon will build a $200 million water-themed mixed-use project on a 35-acre site at the northeast corner of Stacy Road and State Highway 121. Known as Cannon Beach, the development will comprise a four-acre surf lagoon and resort-style hotel, as well as dining, entertainment and other commercial spaces. The hotel will feature a rooftop pool area that can support private events, as well as lounge areas and cabanas with food service and will connect to the surf lagoon and other water-focused attractions, including cliff diving and a stationary surf wave. The McKinney Economic Development Corp. and the McKinney Community Development Corp. are also partners on the project, conceptual terms of which are being finalized along with a site plan and agreements for infrastructure assistance, tax rebates and land acquisition. The first phase of Cannon Beach could open as early as 2026, and the development team estimates that the project could create as many as 700 new jobs and generate as much as $2 billion in regional economic impact over the next 20 years.
MIAMI — The City of Miami’s Urban Design Review Board (UDRB) has approved the design of a new 12-story mixed-use tower in the city’s Little River neighborhood. The project team includes locally based developer B Developments and Stantec, which is serving as architect, MEP engineer and structural engineer for the development. The tower will be located on a 3.5-acre site at 79th Street and Biscayne Boulevard and feature 355 apartments, 589 parking spots and 35,500 square feet of retail space on the ground level. Set to break ground next year, the property will feature a mix of studio, one-, two- and three-bedroom apartments, as well as a beach entry pool, fitness center, outdoor dining terrace and a shaded pet area.
BROOK PARK, OHIO — Haslam Sports Group (HSG) and the Cleveland Browns have selected Lincoln Property Co. as the development partner for the Browns’ 176-acre mixed-use entertainment district in the suburb of Brook Park. The development, designed by HKS, will be anchored by a new enclosed stadium for the 80-year-old NFL franchise, which is owned by Haslam. Located adjacent to Cleveland Hopkins International Airport, the 67,000-seat stadium will also host concerts, sports tournaments, events and conferences year-round. The entertainment district surrounding the stadium will be developed across multiple phases and will ultimately include 300,000 square feet of retail space, two upscale hotels, 1,100 apartments and 500,000 square feet of office space. Phase I, which is planned to deliver along with the stadium in 2029, will include 450 hotel rooms, 575 apartment units, 96,000 square feet of traditional retail and 137,000 square feet of experiential retail.
JOHNS CREEK, GA. — Six new tenants have signed leases at Medley, a 43-acre mixed-use property currently underway in the north Atlanta suburb of Johns Creek. Locally based Toro Development Co. is the master developer of the project and plans to break ground in January. The newly signed tenants include Sephora, Rena’s Italian Fishery & Grill, High Country Outfitters, BODYROK, Petfolk and an undisclosed grocer. Previously announced tenants for the development, which is now roughly 75 percent leased, include Ford Fry’s Little Rey, CRÚ Food & Wine Bar, Fadó Irish Pub, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, AYA Medical Spa, 26 Thai Kitchen and Bar, Five Daughters Bakery, Drybar Shops, Minnie Olivia, Burdlife, AMorino, Pause Studio, Fogón and Lions and Clean Your Dirty Face. Medley is currently about 75 percent leased. Upon completion in late 2026, Medley will comprise 150,000 square feet of retail, restaurant and entertainment space; a 175-room boutique hotel; 110,000 square feet of office space; 750 multifamily residences and 133 townhomes; and a 25,000-square-foot plaza. Toro also recently announced that it obtained construction financing for the project, including an undisclosed amount of equity from Ascentris, as well as a $158 million loan …
FALLS CHURCH, VA. — Trammell Crow Co. (TCC) has signed a 68,000-square-foot lease with The Johns Hopkins Health System Corp. at The Wellness Center at West Falls in Falls Church. The nonprofit will occupy the fourth, fifth and sixth floors of the 126,000-square-foot property. Andy Thau, Conn Curry and Yorke Allen of JLL are leasing and marketing the remainder of The Wellness Center. The LEED Gold-certified, Class A medical office building that has been open and operating since February. Located at 7171 Cardinal Lane, the property offers curbside patient pick-up and drop-off, locker rooms with showers, an amenity bar, bike storage and covered parking. The Wellness Center is part of the larger West Falls mixed-use development by Hoffman & Associates.
FISHERS, IND. — Thompson Thrift has opened Fishers Event Center, a 7,500-seat arena within The Crossing at Fishers District in the Indianapolis suburb of Fishers. The venue will serve as a home to three professional sports teams — Indy Fuel Hockey Club of the ECHL, Indy Ignite of the Professional Volleyball Federation and Fishers Freight of the Indoor Football League. The arena will also host a variety of community events and concerts. The event center marks a $200 million investment by the city within Thompson Thrift’s $750 million Fishers District mixed-use development. Once completed, the 123-acre project will incorporate multifamily, townhome, hotel, office, dining, shopping and entertainment offerings. Thompson Thrift is actively leasing space for The Union at Fishers District, another phase expected to break ground in the first quarter of 2025. The Union will feature 57,000 square feet of retail, restaurant and entertainment space, 251 luxury apartment homes, 135 luxury boutique hotel rooms and 70,000 square feet of Class A office space. Thompson Thrift first began work on the Fishers District development in 2015.