REBusinessOnline

Holland Partner, MVE + Partners Complete 285,415 SF Mixed-Use Project in Long Beach

LONG BEACH, CALIF. — Holland Partner Group and architecture firm MVE + Partners have completed Volta on Pine, a 285,415-square-foot, mixed-use, infill development in downtown Long Beach.Located at 635 Pine Ave., Volta on Pine features 271 apartments, 1,300 square feet of ground-floor retail space, subterranean parking and extensive sidewalk space.Residential units range from 629 square feet to 1,400 square feet in a mix of studio, one-, two- and three-bedroom layouts. Eleven …

DealPoint Merrill Acquires Former Richmond Town Square Mall in Suburban Cleveland, Plans $200M Redevelopment

RICHMOND HEIGHTS, OHIO — DealPoint Merrill has acquired the remaining portion of the former Richmond Town Square regional mall in Richmond Heights, a suburb just east of Cleveland. The purchase price was undisclosed. Built in 1966, the mall was once the largest enclosed shopping center in the state with over 90 stores. It closed this year.DealPoint previously owned 33 acres of the mall site and now owns a total of 69 acres. This acquisition clears the way for the development of Belle Oaks …

Gordon Partners Completes 35,000 SF Mixed-Use Expansion Project at Lake Conroe

CONROE, TEXAS — Houston-based Gordon Partners has completed the 35,000-square-foot expansion of Waterpoint Center, an office, retail and restaurant development located north of Houston on Lake Conroe. Retail and restaurant users that will soon be opening at the 140,000-square-foot waterfront property include Akashi Asian Bistro, Crust Pizza Co., Boardwalk Boutique, The Paleta Bar, Hunger Crush Café and Bar Lago Craft Cocktails. Gordon Partners will soon break ground on an additional 10,000 …

City of Chicago Approves $3.8B Mixed-Use Project at Former Michael Reese Hospital Site

CHICAGO — The Chicago City Council has given approval for the development of Bronzeville Lakefront, a $3.8 billion mixed-use project located in Bronzeville, a South Side neighborhood. Michael Reese Hospital and Medical Center, which closed in 2008, formerly occupied the 48-acre development site. The City of Chicago acquired the property in 2009 and cleared most of the land over the ensuing months. A team of local developers known as GRIT was selected to purchase the site for $96.9 …

Joint Venture Breaks Ground on $2B USQ Mixed-Use Project in Metro Boston

SOMERVILLE, MASS. — US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments and USAA Real Estate, has broken ground on a $2 billion mixed-use project known as USQ in Somerville, just northwest of Boston.The 15-acre, transit-oriented development is situated in the city’s historic Union Square neighborhood at the southeast corner of Somerville Avenue and Prospect Street. An official groundbreaking ceremony took place this morning.Totaling 2.4 …

NAP, Hoar Complete $400M Redevelopment of Colony Square in Midtown Atlanta

ATLANTA — North American Properties (NAP) and Hoar Construction have completed the redevelopment of Colony Square, a mixed-use development located at the intersection of 14th and Peachtree streets in the Midtown neighborhood of Atlanta. The project comprised four phases and the total development cost was $400 million.Over the past four years, the developers have completed a 200,000-square-foot renovation of two existing buildings, the ground-up construction of a new building featuring a …

Veteran Services USA, Lockwood Buy Hotel Portfolio for $225M, Plan Mixed-Use Redevelopments

MIAMI AND SOUTHFIELD, MICH. — Veteran Services USA and Southfield, Mich.-based Lockwood Asset Management have bought a 10-property hotel portfolio totaling more than 1.6 million square feet, for $225 million. The seller(s) was not disclosed.Veteran Services USA plans to redesign and convert existing buildings into mixed-use properties with Radisson Hotel accommodations. The properties will include separate studio and one-bedroom residential apartments for veterans age 55 and over who live …

Alagem Capital, Cain International Unveil Plans for $2B One Beverly Hills Project

BEVERLY HILLS, CALIF. — Alagem Capital Group and Cain International have unveiled plans for One Beverly Hills, a 17.5-acre “urban resort” that the developers estimate will value $2 billion upon completion. The project will include two new condominium towers, an eight-acre botanical garden and a new 10-story tower comprising 42 luxury hotel rooms, 37 shared-ownership condominiums and a fine dining restaurant.One Beverly Hills also includes the revitalization of the adjacent Beverly …

SLI Capital, Regent Acquire 15 Parcels in Raleigh for Phase II of East End Market

RALEIGH, N.C. — A joint venture between SLI Capital and Regent Partners has acquired 15 parcels totaling approximately 10 acres in Raleigh for the second phase of the East End Market mixed-use development. Seven undisclosed entities sold the 15 parcels to the joint venture for a total of approximately $18 million.Located on Whitaker Mill Road between Wake Forest Road and Atlantic Avenue, East End Market is a mixed-use, food and beverage destination that will offer a collection of …

Northeast Developers Push for Local Retail in Mixed-Use Projects

By Taylor Williams As consumers throughout the Northeast move closer to returning to their pre-pandemic lifestyles, unleashing pent-up demand on the retail, restaurant and entertainment sectors, owners of mixed-use properties are gaining a renewed appreciation for local concepts that create a special sense of identity. Of course, the inclusion of local uses and concepts in the larger overall retail tenant base is nothing new in the world of mixed-use development. And sources agree that having …

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