Mixed-Use

Melissa-Park-Village

MELISSA, TEXAS — Texas-based developer X Capital is underway on sitework for a 59,000-square-foot mixed-use project in Melissa, located about 40 miles north of Dallas in Collin County. The project represents Phase I of a 22-acre development known as Melissa Park Village and will consist of 36,000 square feet of retail space across two buildings, as well as a two-story building with 23,000 square feet for flexible office and/or retail use. Phased deliveries across all three buildings are targeted to begin in 2027. Weitzman is the leasing agent for Melissa Park Village.

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5550-Wilshire-LA-CA

LOS ANGELES — Locally based Decron Properties has acquired 5550 Wilshire, a 163-unit apartment community in the Miracle Mile area of Los Angeles. According to the Los Angeles Business Journal, the seller was private equity real estate investor GID, headquartered in Atlanta. The asset sold for $114 million. Blake Rogers of JLL arranged the transaction. Developed in 2010, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes. Amenities include a resort-style pool, hot tub, rooftop lounges, movie theater and parking for 484 vehicles. The property also includes 14,686 square feet of ground-floor retail space that is fully leased to tenants that include Chipotle, Five Guys and FedEx Office. Decron owns and manages approximately 10,000 multifamily units and approximately 1 million square feet of retail assets across California, Washington and Arizona.

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VIRGINIA BEACH, VA. — Pembroke Realty Group has provided updates on the $300 million redevelopment of Pembroke Mall, a regional shopping mall in Virginia Beach that dates back to 1966. The project, renamed Pembroke Square, will comprise The Pembroke, a 284-unit luxury apartment community set to break ground in the coming months, and Tempo by Hilton, a 163-room hotel that is underway. Two additional phases are in pre-development, while approximately 26,000 square feet of retail space is expected to come on line through 2028. Existing components at Pembroke Square include Aviva Pembroke, a 153-unit senior living community that opened in December 2024, and existing shops and restaurants including Bath & Body Works, Kohl’s, Latitude Climbing + Fitness, Nordstrom Rack, Old Navy, REI Co-Op, Target, The Fresh Market and Walgreens. Delivery dates for The Pembroke and Tempo by Hilton were not released.

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FORT LAUDERDALE, FLA. — Hines and Urban Street Development (USD) have signed two new office tenants to join T3 FAT Village, a mass-timber office building within the $500 million FAT Village mixed-use redevelopment project in Fort Lauderdale’s Flagler Village. GXO Logistics Inc. will open a new 35,000-square-foot office at the six-story, 180,000-square-foot office building, and workplace furniture provider CBI Workplace Solutions will move its Fort Lauderdale operation to the property from Las Olas Boulevard. The companies are the first committed tenants at T3 FAT Village and will open their offices next year. Blanca Commercial Real Estate handles the office leasing assignment at T3 FAT Village. Christina Jolley, Chris Harak and Kevin Carrasco of Blanca CRE represented GXO in the lease negotiations, while David Hillegas and A.J. Belt of Cushman & Wakefield represented CBI Workplace Solutions. Hines and USD plan to announce the property’s ground-level retail and restaurant tenants later this year.

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FRISCO, TEXAS — Hunt Sports Development has formed a partnership with Peak Curated Development and Venu Holding Corp. (NYSE: VENU) to build a mixed-use district on the east side of Toyota Stadium and Soccer Center in Frisco, a suburb of Dallas in Collin County. The stadium serves as the home of Major League Soccer’s FC Dallas, which is owned by The Hunt Family. The partnership plans to transform the campus into a year-round destination for hospitality, business, dining and entertainment. Construction is expected to begin in 2027. Project costs were not released, but The Dallas Express reports that the city previously outlined a mixed-use development expected to generate more than $1 billion in private investment once fully developed. The first phase of the project will include a 290-room boutique hotel and more than 40,000 square feet of convention, meeting and event space. The hotel will include a full-service restaurant and bar, rooftop bar and lounge, spa and a fitness center. The flexible convention and event center will feature more than 25,000 square feet of dedicated meeting space, including a 15,000-square-foot ballroom, which will be divisible into smaller breakout rooms. The ballroom and event spaces can be configured for conferences and …

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CHICAGO — The 1901 Project owners have revealed renderings for the new Music Hall, a purpose-built live performance venue taking shape on the United Center campus in Chicago. Set to open in 2028 as a centerpiece of the first phase of the 1901 Project, the Music Hall will accommodate 6,000 guests and is being built specifically for live music. New renderings show an intimate performance room with three levels of viewing. The venue bowl has been designed with support from major industry consultants including RIOS, Theater Projects and Kirkegaard. Inside will be bars, merchandise locations and hospitality spaces. Outside, the venue will open directly into the larger 1901 Project campus, connecting guests with new open space, restaurants, retail, parking and a hotel. The 1901 Project is a $7 billion investment that will transform more than 55 acre surrounding the United Center into a mixed-use destination with new public spaces and parks, housing, retail, hospitality, offices and transportation improvements.

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park-bench-opening

ATLANTA — Live music and dueling piano bar Park Bench has signed a lease to open a new venue at Centennial Yards, a $5 billion mixed-use development underway in downtown Atlanta and the operator’s second venue in the city. The new Park Bench will be situated within the 7.5-acre “Entertainment District,” which will also include a 5,300-seat Live Nation venue, the interactive Cosm attraction that opened this summer and the Virgin Hotel. Park Bench’s newest location will sit between and adjacent to Mercedes-Benz Stadium and State Farm Arena. CIM Group and its affiliate firm Centennial Yards Co. are the master developers behind the project, which is transforming a 50-acre site in the heart of downtown formerly known locally as “The Gulch.” Known for its dueling pianos, live cover bands, DJ sets and themed karaoke nights, Park Bench first established its presence in Buckhead, where it has served patrons for 27 years.

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40_Tenth_Avenue

NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged a $293 million loan for the refinancing of 40 Tenth Avenue, a 158,957-square-foot mixed-use building located in Manhattan. The property sits in the city’s Meatpacking District near Little Island, Hudson River Park and the Whitney Museum of American Art. 40 Tenth Avenue features 112,241 square feet of office space across floors three through 10, with 46,716 square feet of retail space situated on the first and second floors. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Jordan Casella and Stanley Cayre of Walker & Dunlop secured the fixed-rate, permanent loan through Corebridge Financial on behalf of the borrower, a joint venture between Aurora Capital and William Gottlieb Real Estate. “40 Tenth Avenue stands out in building quality, location and experience — all elements that differentiate a property for tenants,” says Stolly, senior managing director of the Capital Markets Institutional Advisory team at Walker & Dunlop. “The fully leased office component, institutional tenant roster and substantial outdoor space demonstrate the continued demand for high-touch, well-located workplaces in New York.” According to Walker & Dunlop, the Meatpacking District is one of Manhattan’s most supply-constrained office and retail submarkets, making physical expansion and new commercial ground-up …

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Uptown-Landing

TAMPA, FLA. — The University of South Florida (USF) and its development partners have broken ground on the $500 million first phase of Uptown Landing, a new mixed-use project situated within walking distance of the planned USF on-campus football stadium.  The first phase of the project comprises 30 acres and will include 717 beds of student housing; 152 apartments reserved for graduate students and USF employees; four to six restaurant venues; 68,000 square feet of retail space; a hotel and conference center and academic research facilities.  Delivered through a master development agreement with ACE Fletcher LLC, this development marks the largest public-private partnership (PPP) in the history of the State University System of Florida. ACE Fletcher is a partnership between Capstone Development Partners, Aureate Development and Ellison Development. The project team also includes Provident Resources Group, CBI Construction, Baker Barrios Architects and Kimley-Horn.  Funding for the project includes $270 million in tax-exempt bond financing for the student housing, hospitality, restaurant and retail uses, as well as a roughly $225 million investment for the Translational Research Institute.  Capstone Management Partners will provide maintenance and operations services at the student housing building in a shared services agreement with USF.  The first phase is …

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KANSAS CITY, MO. — The Kansas City Royals have selected a construction team for the development of the club’s new $3 billion mixed-use village in downtown Kansas City, which will be anchored by a new 34,000-seat, open-air ballpark. The 85-acre district will be located within the city’s Crown Center neighborhood on the corporate campus of Hallmark Cards, which is a partner with the Royals on the overall development. The Royals have selected a joint venture between Minnesota-based Mortenson and Kansas City-based McCownGordon to serve as the construction manager at risk on the nearly 1.3 million-square-foot stadium. JE Dunn, also headquartered in Kansas City, will serve as a construction partner on the surrounding mixed-use district. Upon completion, which is expected in advance of the Royals’ opening day game in 2030, the mixed-use village will be the largest sports-anchored downtown development in baseball and the largest economic development project in the history of Kansas City, according to the Royals. “We’re proud to bring these outstanding construction companies together to build a world-class ballpark that will be seamlessly integrated with a best-in-class mixed-use development,” says Brooks Sherman, president of real estate and development for the Royals. “We have always said this is about …

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