Saturday, April 27, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Mixed-Use

Affordable HousingDevelopmentGeorgiaLife SciencesMixed-UseMultifamilySoutheast

Trammell Crow, GATV Complete Phase I of Mixed-Use Science Square Development in Atlanta

by John Nelson

ATLANTA — Trammell Crow Co. (TCC) and Georgia Advanced Technology Ventures (GATV) — an affiliate of the Georgia Institute of Technology (Georgia Tech) — have completed construction of the first phase of Science Square, a mixed-use development situated adjacent to the Georgia Tech campus in Atlanta. Comprising 18 acres, the development features Science Square Labs, a life science building, and The Grace, a 14-story residential tower. Perkins + Will designed Science Square Labs, which totals 368,258 square feet and features lab and clean-up space. The 13-story building features a 38,000-square-foot solar panel array on top of the parking garage and 22 electric vehicle charging stations. Amenities at the property include a fitness center, conference space and private meeting rooms, and a tenant lounge and event space dubbed The Commons that features a 16,000-square-foot sky deck on the fifth floor. Portal Innovations has signed a 33,000-square-foot lease as the first tenant at the property, which includes 33,136 square feet of pre-built speculative lab and office suites, as well as space for custom-built units. The Grace, designed by Rule Joy Trammell + Rubio, comprises 280 units with a mix of market-rate and affordable residences. Amenities include a bike room, club room, outdoor …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseTexas

Wilks Development, Frisco EDC Unveil Plans for 242-Acre Firefly Park Mixed-Use Project

by Taylor Williams

FRISCO, TEXAS — A partnership between Fort Worth-based Wilks Development and the Frisco Economic Development Corp. has unveiled plans for Firefly Park, a 242-acre mixed-use project that will be located on the northern outskirts of Dallas. The site at the intersection of U.S. Highway 380 and the Dallas North Tollway sits at the gateway to the PGA of America’s headquarters campus. Preliminary plans call for 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining and entertainment space, 1,200 hotel rooms, 230 townhomes and 1,970 mid-rise and high-rise residential units. Firefly Park will also feature a 45-acre park with multiple lakes, hiking trails, public art installations and family-friendly amenities. The first phase of the development will center on construction of the Dream Hotel, 650,000 square feet of Class A offices, upscale dining and shopping space and the 45-acre park. Construction is scheduled to begin in the coming days, with a formal groundbreaking ceremony to take place in late June.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMixed-UseMultifamilyRestaurantRetailTop Stories

Kansas City Current Plans $800M Riverfront Mixed-Use Development

by Jeff Shaw

KANSAS CITY, MO. — The Kansas City Current, a professional women’s soccer team, has unveiled plans for an $800 million mixed-use project on the Missouri riverfront in downtown Kansas City. The development follows completion of CPKC Stadium, a women’s soccer stadium that seats 11,500 people, in March. According to the project team, the $120 million venue is the first soccer stadium to be designed and built exclusively for women. Partners for the mixed-use project include Palmer Square Capital Management, Marquee Development and the Port Authority of Kansas City. The stadium will anchor the mixed-use district, along with Berkley Riverfront Park and the Missouri riverfront. The development will feature hundreds of multifamily units, food and beverage offerings, and new public recreational spaces such as a new town square and a riverfront promenade. The public areas will be programmed with family-friendly events like movie nights, food festivals, fitness classes and live music. Additionally, 10 percent of all residential units across all phases of the project will be set aside for tenants earning up to 50 percent of the area median income. “Kansas City was founded at the confluence of the Missouri and Kansas Rivers,” says Angie Long, co-founder and co-owner of the KC Current. “With the …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMixed-UseSoutheast

City of Orlando Approves 8.5-Acre Downtown Sports and Entertainment District

by John Nelson

ORLANDO, FLA. — The City of Orlando has given final approval for the development of the sports and entertainment district situated on 8.5 acres adjacent to the Kia Center (formerly Amway Center), home arena of the NBA’s Orlando Magic. The co-developers, SED Development LLC, JMA Ventures LLC and Machete Group, recently named the project Westcourt. The developers plan to break ground on the 900,000-square-foot mixed-use development later this year. The Orlando Sentinel reports the project will cost roughly $500 million to develop. The development will include a 260-room hotel, 270 residential units, 3,500-seat live entertainment venue, Class A offices, restaurants, shops, 1,140-space parking garage and a 1.5-acre outdoor green space. The development team expects to deliver the project by March 2027 and create approximately 3,400 jobs for the region.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMixed-UseMultifamilyOfficeSoutheast

Grover Corlew to Add 360 Residential Units, Renovate Office Buildings at Hillsboro Center in Deerfield Beach, Florida

by John Nelson

DEERFIELD BEACH, FLA. — Grover Corlew has received final site plan approval for the addition of 360 residential units and renovations to existing office buildings within the Hillsboro Center master-planned development at 600 and 700 Hillsboro Blvd. in Deerfield Beach, a city in South Florida’s Broward County. The developer has also been approved for the demolition of 45,000 square feet of existing two-story office space at the site. The residential units will be Mayla-branded luxury apartments. Plans also include upgrades to nearby public streets, parks, traffic signals and intersections, as well as onsite public plazas and a new road through the development. Grover Corlew is scheduled to break ground on the project in late 2025. The developer has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Blvd. Office tenants including GardaWorld Security Corp., Tomberg, Morris & Poulin and The Craneware Group have signed leases for more than 20,000 square feet of space at the property.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMixed-UseTexas

Jefferson Bank Provides $20M Construction Loan for Metro Austin Mixed-Use Project

by Taylor Williams

GEORGETOWN, TEXAS — San Antonio-based Jefferson Bank has provided a $20 million construction loan for Phase I of The Preserve, a mixed-use project in the northern Austin suburb of Georgetown. Phase I will feature two industrial flex buildings, two retail buildings and one office building totaling 50,700 square feet across the five structures. The borrower, locally based developer OM Properties, expects for construction of Phase I to last 18 to 24 months. Other project partners include Mode Design Co. (architect), NAVCON Group (general contractor) and 2P Consultants (civil engineer).

Continue Reading
FacebookTwitterLinkedinEmail
325-331-Marine-Ave-Newport-Beach-CA
AcquisitionsCaliforniaMixed-UseMultifamilyRetailWestern

Faris Lee Investments, SSG Realty Corp. Broker $4.4M Sale of Mixed-Use Property in Newport Beach, California

by Amy Works

NEWPORT BEACH, CALIF. — Faris Lee Investments and SSG Realty Corp. have arranged the sale of 325-331 Marine Avenue, a mixed-use property on Newport Beach’s Balboa Island. The asset traded for $4.4 million, equating to $1,193 per square foot for the building and $842 per square foot for the land. Jeff Conover, Shaun Riley, Scott DeYoung and Greg Lukosky of Faris Lee Investments, along with Greg Swedelson and Jon-Eric Greene with SSG Realty Corp., represented the undisclosed buyer and seller in the transaction. Situated on two separate parcels, the property offers storefront retail with two second-floor residential units. The asset is currently home to two street-level retail shops and two residential tenants.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMarylandMixed-UseSoutheast

NAI Michael Cos. to Develop 600,000 SF Mixed-Use Project in Bowie, Maryland

by John Nelson

BOWIE, MD. — NAI Michael Cos. will develop South Lake Marketplace, a 600,000-square-foot mixed-use project within the $1.3 billion South Lake development underway in Bowie, a city in suburban Maryland that is roughly equidistant from Baltimore and Washington, D.C. Karington LLC, an affiliate of NAI Michael Cos., owns South Lake, which also features residential units being developed by Chesapeake Realty Partners. South Lake Marketplace will feature a grocery anchor, as well as other retail, restaurant, sports entertainment and hospitality concepts. The development will be situated adjacent to Liberty Sports Park, which features 10 professional sports fields and attracts 344,000 tournament attendees annually, according to NAI Michael Cos. The ceremonial groundbreaking for South Lake Marketplace is expected to take place in May or June.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseSoutheastTop StoriesVirginia

Bruce Smith Enterprise, Cordish Cos. Propose $1.4B Mixed-Use Casino Development in Petersburg, Virginia

by Kristin Harlow

PETERSBURG, VA. — Bruce Smith Enterprise and The Cordish Cos. have responded to a request for proposal issued by the City of Petersburg with plans to co-develop a $1.4 billion mixed-use project. Plans call for a gaming and entertainment district anchored by a Live!-branded casino and hotel. The project site is located at the intersection of Wagner Road and I-95 in Petersburg, about 24 miles south of Richmond. The partners intend to quickly open an initial Phase I casino within a year to begin creating jobs, vendor opportunities and economic benefits for the city. This first phase will include 1,000 slot machines, 23 table games, a 15-table poker room, casino bar and casual restaurant, and more than 1,500 free parking spots. Upon full build-out, Live! Casino & Hotel Virginia would feature more than 400,000 square feet of gaming, hotel and dining space; 35,000 square feet of meeting and convention space; a 200-room hotel; 1,600 slot machines; 46 table games; a sportsbook; 3,000-seat entertainment venue; and eight food options. The project is expected to create 7,500 new jobs, including 6,000 construction jobs and 1,500 “living-wage” jobs averaging $70,000 in annual compensation, according to the development team. In its first 10 years, …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMichiganMidwestMixed-Use

Bedrock Tops Off Construction of Hudson’s Project Site in Detroit, Signs GM as Tenant

by Kristin Harlow

DETROIT — Developer Bedrock has topped off construction of its Hudson’s site project in downtown Detroit. Meanwhile, General Motors Co. plans to leave Renaissance Center for the new development in 2025, according to Crain’s Detroit Business. The project marks Detroit’s largest ground-up development in the past 50 years, according to the developer. Upon completion, the property will house more than 1.5 million square feet of retail, office, dining, hospitality, residential and event space. Construction will continue in a phased approach. Bedrock recently announced on its social media platforms that the name of the development is now Hudson’s Detroit. Construction of the project on the former J.L. Hudson’s department store site began in 2017. Setbacks such as unanticipated underground obstructions and design changes have pushed the development well beyond its original schedule, reports Crain’s. Originally proposed to be 734 feet, the tower now rises 680 feet. GM’s current home, the RenCen, is the tallest building in Detroit and has suffered since the pandemic. Bedrock and GM plan to spend the next year analyzing what to do with the 5.5 million-square-foot property, according to Crain’s.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts