Civic

Texas Military Department, USACE to Convert Dallas Convention Center into COVID-19 Healthcare Facility

by Taylor Williams March 30, 2020

DALLAS — The State of Texas, the Texas Military Department (TMD) and the U.S. Army Corps of Engineers (USACE) have identified the Kay Bailey Hutchison Convention Center in Dallas as a makeshift healthcare facility to treat patients suffering from COVID-19, Texas Gov. Greg Abbott announced on Sunday. The convention center, located downtown, will be the first site to be equipped with additional healthcare equipment and facilities. Local ABC affiliate WFAA reports that 250 beds will be set up with the capacity to expand to 1,400 beds if needed. In his statement, Abbott also stated that the number of hospital beds for COVID-19 patients in Texas has doubled over the past week, and announced a mandatory 14-day quarantine for anyone traveling into Texas from any part of Louisiana. According to its website, the Kay Bailey Hutchison Convention Center features 1 million square feet of exhibit space, three ballrooms, 88 meeting rooms, a 1,750-seat theater and a 9,816-seat arena.

March 30, 2020

Civic Development Iowa Midwest

Hannon Armstrong Makes $115M Preferred Equity Investment in University of Iowa Utility System Project

by Kristin Harlow March 19, 2020

IOWA CITY, IOWA — Hannon Armstrong Sustainable Infrastructure Capital Inc. has made a $115 million preferred equity investment in a utility public-private partnership including the University of Iowa, ENGIE and Meridiam. ENGIE is a natural gas distribution company and Meridiam is a global investor and asset manager specializing in the development, financing and management of long-term public infrastructure projects. The partnership will operate, maintain and upgrade the university’s energy and water utilities. Known as the Hawkeye Energy Collaborative, the partnership was awarded a $1 billion, 50-year utility management concession contract in December 2019. The collaborative will support the University of Iowa’s energy, water and sustainability goals for two campuses spanning 1,700 acres in Iowa City.

March 19, 2020

Civic Development Iowa Midwest

Stahl Completes Construction of 55,000 SF Public Library in Ankeny, Iowa

by Kristin Harlow March 4, 2020

ANKENY, IOWA — Stahl has completed the construction of the two-story, 55,000-square-foot Ankeny Kirkendall Public Library. Located at 1250 SW District Drive in the Prairie Trail development, the $14 million library also houses the city council chambers and a multi-function meeting and conference room. Construction started in June 2018 and wrapped up in February. OPN Architects designed the library. A suburb of Des Moines, Ankeny is the 10th-fastest growing city in the United States, according to the U.S. Census Bureau.

March 4, 2020

Acquisitions Civic Texas

J. Beard Arranges Sale of 100,000 SF Legends Sports Complex in Metro Houston

by Taylor Williams March 3, 2020

SPRING, TEXAS — The J. Beard Real Estate Co. has arranged the sale of Legends Sports Complex, a 100,000-square-foot commercial property located at 602 Pruitt Road in the northern Houston suburb of Spring. The asset was built in 2007 on 14.8 acres. Jeff Beard of The J. Beard Real Estate Co. represented the seller, Caduceus Management, in the transaction. Kevin Barr of Mohr Partners represented the buyer, Church Project, which will use the property as its new headquarters.

March 3, 2020

California Civic Development Western

McCarthy Tops Out 161,200 SF Academic Building at San Jose State University

by Amy Works March 3, 2020

SAN JOSE, CALIF. — McCarthy Building Cos., in collaboration with FLAD Architects, has topped out the Interdisciplinary Science Building (ISB) at San Jose State University in San Jose. The project is the first new academic building to be built on campus in more than 30 years and the first new science facility in almost 50 years. The eight-story building will serve the 3,000 undergraduate and graduate students within the College of Science and STEM and is the first phase of the San Jose State University’s new Science Park, a science and innovation center. In addition to research and teaching labs, the 161,200-square-foot facility will feature specified rooms provided for student research teams to gather and work away from chemicals and instrument setups to discuss the results of projects. Each floor of the ISB will also include collaborative hubs for students and faculty to work together. Targeting LEED Gold certification, ISB will feature modern, state-of-the-art science laboratories and research capabilities in order to meet the needs of students within the disciplines of biology, chemistry, biochemistry, biotechnology and high-performance computing.

March 3, 2020

Civic Development Michigan Midwest

Developer Stephen Ross to Contribute $100M for Detroit Center for Innovation Project

by Kristin Harlow February 24, 2020

DETROIT — Stephen Ross, philanthropist and chairman of Related Cos., has announced a $100 million gift to advance construction of the Detroit Center for Innovation (DCI). The project, which will be located on the former Wayne County Jail site on Gratiot Avenue will also be made possible by a contribution of land from Quicken Loans founder Dan Gilbert. The first phase of construction for the 14-acre project is expected to begin in 2021. Anchoring the project will be a 190,000-square-foot research and education center to be operated by the University of Michigan. Designed by architecture firm Kohn Pedersen Fox, the center will serve up to 1,000 graduate and senior-level undergraduate students pursuing degrees in high-tech innovation fields such as mobility, artificial intelligence, data science, cybersecurity and financial technology. The initial phase of the DCI will also include incubator and start-up services for entrepreneurs, collaboration space, residential units, a hotel and conference center. Ross has previously given nearly $400 million to the university.

February 24, 2020

Acquisitions Civic Midwest Missouri

Avison Young Brokers Sale of Historic School Building in St. Louis

by Kristin Harlow February 14, 2020

ST. LOUIS — Avison Young has brokered the sale of 9221 Minnesota Ave., a 22,259-square-foot, historic school building in St. Louis, for an undisclosed price. Known as Carondelet School, the property was built in 1871 and is listed on the National Register of Historic Places. It underwent a $4.8 million renovation in 2009. The buyer, goBrandgo, is a marketing and brand management firm. Steve Stradal of Avison Young represented the seller, Carondelet Holdings LLC. Gershman Commercial Real Estate represented the buyer.

February 14, 2020

Civic Development New York Northeast

JLL Completes $38M Iona College Building in New Rochelle, New York

by Alex Patton February 12, 2020

NEW YORK CITY — JLL Project and Development Services has completed construction of Iona College’s new LaPenta School of Business, a 68,000-square-foot building in New Rochelle, a northern suburb of New York City. Development costs were approximately $38 million. The project included a complete renovation of the college’s existing four-story business school and the ground-up construction of a 35,000-square-foot addition. Peter Rader led the JLL project management team. Gensler served as the project architect, and Pavarini North East Construction Co. was the general contractor.

February 12, 2020

Civic New York Northeast Northeast Market Reports

Passive House Construction Can Help NYC Developers Save on Emissions Costs

by Alex Patton February 12, 2020

Recently, New York City passed the Climate Mobilization Act bill as a way to counter climate change. If passed into law, the bill’s foundation would require buildings that are larger than 25,000 square feet to cut climate emissions by 40 percent by 2030 and by more than 80 percent by 2050. The legislation also requires certain buildings to cover roofs with plants, solar panels, small wind turbines or a combination of those elements. Rent-regulated housing, as well as structures of worship, won’t be subject to the emissions cap. However, building owners whose properties are subject to the new law will be fined $268 for every ton of emission beyond an individual building’s limit. To make the necessary changes to avoid these massive penalties — such as replacing outdated heating, cooling and lighting systems — owners will need to retrofit older buildings with updated energy-efficient technology. The legislation demonstrates what a metropolitan version of the Green New Deal, the national movement for a multi-trillion dollar, climate-friendly plan, might look like. The legislation is expected to create thousands of blue collar jobs and make it easier for the city to take advantage of future state and federal funding for clean energy projects …

February 12, 2020

Civic Development New York Northeast

The Whittle School to Open 620,000 SF Campus at The Wheeler in Brooklyn

by Alex Patton February 6, 2020

NEW YORK CITY — Private education institution The Whittle School & Studios will open a 620,000-square-foot campus at The Wheeler, a 10-story tower in Brooklyn. Tishman Speyer recently completed construction of the tower, which is situated on top of a renovated Macy’s department store. The developer is finalizing construction of 11 Hoyt, an adjacent 48-unit condominium tower on the site of the former Macy’s parking garage. Shimoda Design Group was the architect of the project. The Whittle School will open its early learning program later this year, followed by its full Kindergarten through 12th grade program in September 2021. The Wall Street Journal reports that the project is expected to cost $300 million. Mark Aloia, Gary Rosenberg and Arielle Frost of Rosenberg & Estis P.C. represented Whittle in the lease negotiations.

February 6, 2020

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