BARTLESVILLE, OKLA. — Locally based investment firm Copper Tree Inc. has acquired Price Tower, a historic building in Bartlesville, about 45 miles north of Tulsa. Designed by Frank Lloyd Wright, the 19-story building was originally constructed in 1956 as the headquarters for H.C. Price, a manufacturer of pipelines and machinery for the oil and gas industry. Copper Tree plans to implement a capital improvement program to restore the building’s infrastructure and reposition it as a lifestyle hub.
PITTSBURGH — Pittsburgh International Airport has unveiled designs for the next phase of its $1.4 billion redevelopment. The latest stage of the project will center around a passenger tunnel/bridge that connects the existing hub of the airport with the new terminal that is under construction. The development team broke ground on the new, 700,000-square-foot terminal in October 2021 and expects to complete the project in 2025. The new terminal will consolidate ticketing, security checkpoints and baggage claim operations and offer a multi-modal complex with a 3,300-space parking garage, rental car facilities, parking lots and roadways.
OAKLAND PARK, FLA. — Walker & Dunlop has arranged $51 million in construction financing for Sky Building, a mixed-use development located in the South Florida city of Oakland Park. The borrower, locally based NRI Investments, previously signed a development agreement, lease agreement and purchase and sale agreement for the 2.1- acre site with the City of Oakland Park. Sky Building will house 136 affordable and workforce units, which are connected by a skybridge to the City of Oakland Park’s new City Hall, alongside roughly 15,000 square feet of ground-floor retail space. The site is within an opportunity zone approximately three miles north of downtown Fort Lauderdale. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, David Strange and Keith Melton of Walker & Dunlop arranged the financing via senior construction lenders and debt and equity funds. The financing was underwritten at 80 percent loan-to-cost and is non-recourse through the capital stack, according to Walker & Dunlop. The construction timeline for Sky Building was not disclosed.
SAN ANTONIO — CBRE has arranged the $5.3 million sale of the Villita Assembly Building, a 24,785-square-foot event center in downtown San Antonio. The single-story building was constructed on 1.1 acres in 1958 and includes a banquet hall, kitchen and an outdoor plaza. Andrew Price of CBRE represented the seller, CPS Energy, in the transaction. The buyer, GrayStreet Partners, intends to upgrade and restore the Villita Assembly Building and keep it as an event venue.
FISHERS, IND. — Thompson Thrift has acquired 62 acres that will be utilized as part of the $550 million expansion to Fishers District in the northeast Indianapolis suburb of Fishers. The firm concurrently sold a portion of the acquired land to the City of Fishers, where the site will be used for the development of a 7,500-seat arena and event center. The overall expansion of Fishers District includes: Slate, a garden-style multifamily community with direct access to Fishers District; the Union, an expansion to the multifamily and commercial options already opened at Fishers District; and the new arena and event center, which will offer additional restaurant, retail and entertainment spaces. Once completed in 2024, the event center will house the Indy Fuel, a minor-league ice hockey team affiliated with the Chicago Blackhawks and the Rockford IceHogs. The event center will also host concerts, theater productions, conventions and other sporting and community events. SCI Architects designed the property. Thompson Thrift began work on the Fishers District development in 2015. The first phase received an award from the Indianapolis Chamber of Commerce in 2020. “A project of this magnitude requires patience, persistence and vision,” says Ashlee Boyd, a managing partner at Thompson Thrift Commercial. “We have brought development, design and building experts together …
KANSAS CITY, MO. — The new 40-gate terminal at Kansas City International Airport has opened for commercial air service. At just over 1 million square feet and a budget of $1.5 billion, the terminal marks the largest single infrastructure project in the city’s history, according to the airport. The new terminal features spacious gate areas, nearly 50 local and national food and beverage concepts, and shopping experiences. Two moving walkways expedite transfers between the two concourses. Consolidated and flexible security checkpoints with 16 lanes were designed to accommodate the ebb and flow of passenger volume. A new 6,200-space garage is adjacent to the terminal with covered parking. The new terminal replaces the previous three-terminal format at the airport. Terminal A was razed to make way for construction of the new terminal and garage. Terminals B and C remained in operation, but they officially close with the opening of the new terminal. The two old terminals will be razed. The Terminal B garage will remain open and serve as employee parking, and the Terminal C garage will be used for public parking in the future. Led by developer Edgemoor Infrastructure & Real Estate and its design-build partner Clark | Weitz | …
SIOUX FALLS, S.D. — McCarthy Building Cos. Inc. will construct the $215 million expansion of the Sioux Falls Regional Water Reclamation Plant. The first major expansion since the plant was built in the 1980s, the project is expected to increase the facility’s capacity by 50 percent — from 21 million to 30 million gallons per day — and enhance operational efficiencies to meet growing demand throughout the community and region. Completion is slated for 2025. Plans call for the construction of a new three-story “headworks” building, where wastewater initially enters the treatment process; the installation of new generators and an extensive electrical system upgrade; installation of three additional aeration basins, where wastewater is treated by microbes; four “final clarifiers,” which are large circular pools where solids are separated from treated water; and the expansion of an area of the plant where water is treated with chlorine, including the addition of more storage tanks. The project received funding through loans from the State Revolving Fund, a program that provides low-interest loans to water, wastewater and sewer projects. In addition to McCarthy, project partners include Carollo Engineers Inc. and locally based Henry Carlson Construction. Sioux Falls and the surrounding area are experiencing …
KANSAS CITY, MO. — The new 40-gate terminal at Kansas City International Airport has opened for commercial air service. At just over 1 million square feet and a budget of $1.5 billion, the terminal marks the largest single infrastructure project in the city’s history, according to the airport. The new terminal features spacious gate areas, nearly 50 local and national food and beverage concepts, and shopping experiences. Two moving walkways expedite transfers between the two concourses. Consolidated and flexible security checkpoints with 16 lanes were designed to accommodate the ebb and flow of passenger volume. A new 6,200-space garage is adjacent to the terminal with covered parking. The new terminal replaces the previous three-terminal format at the airport. Terminal A was razed to make way for construction of the new terminal and garage. Terminals B and C remained in operation, but they officially close with the opening of the new terminal. The two old terminals will be razed. The Terminal B garage will remain open and serve as employee parking, and the Terminal C garage will be used for public parking in the future. Led by developer Edgemoor Infrastructure & Real Estate and its design-build partner Clark | Weitz | …
SIOUX FALLS, S.D. — McCarthy Building Cos. Inc. will construct the $215 million expansion of the Sioux Falls Regional Water Reclamation Plant. The first major expansion since the plant was built in the 1980s, the project is expected to increase the facility’s capacity by 50 percent — from 21 million to 30 million gallons per day — and enhance operational efficiencies to meet growing demand throughout the community and region. Completion is slated for 2025. Plans call for the construction of a new three-story “headworks” building, where wastewater initially enters the treatment process; the installation of new generators and an extensive electrical system upgrade; installation of three additional aeration basins, where wastewater is treated by microbes; four “final clarifiers,” which are large circular pools where solids are separated from treated water; and the expansion of an area of the plant where water is treated with chlorine, including the addition of more storage tanks. The project received funding through loans from the State Revolving Fund, a program that provides low-interest loans to water, wastewater and sewer projects. In addition to McCarthy, project partners include Carollo Engineers Inc. and locally based Henry Carlson Construction. Sioux Falls and the surrounding area are …
AUBURN, ALA. — Birmingham, Ala.-based HPM has completed construction of the Tony and Libba Rane Culinary Science Center at Auburn University. The dual-purpose, 142,000-square-foot property houses learning environments for culinary students, as well as a boutique hotel, the 1856 teaching restaurant, brewery and a food hall. HPM served as program manager on the project and provided project management support for Auburn University Facilities Management during the pre-construction and construction phases. Auburn alumnus and board of trustees member Jimmy Rane helped kickstart the project with a $12 million gift dedicated to the building’s construction. The board later approved naming the facility in honor of his parents, Tony and Libba Rane. The property is situated at the corner of East Thach Avenue and South College Street in downtown Auburn. HPM also oversaw the construction of a $10 million, six-story parking garage nearby before breaking ground on the culinary facility in 2019. The design-build team for the property include architect Cooper Carry, facility operator Ithaka Hospitality Partners, the Auburn University Facilities Management department and general contractor Bailey-Harris Construction.