Mixed-Use

Blue Onyx to Redevelop Former Mill Site in Paterson, New Jersey, into Mixed-Use Destination

by Taylor Williams September 9, 2020

PATERSON, N.J. — Locally based developer Blue Onyx Cos. will redevelop a historic two-acre property in Paterson that houses seven former mills and warehouses into a mixed-use destination. Preliminary plans for the project, which will be branded 24+Half, call for creative office and residential uses, as well as a beer garden and a 12,230-square-foot beach environment with sand, furniture, food trucks and activities. Architecture firm HWKN is leading design of the commercial, residential and public spaces. Blue Onyx acquired the site in 2019. The development team expects to break ground on the first phase of the project in summer 2021 and for the entire project to carry a construction period of about five years.

September 9, 2020

Development Leasing Activity Mixed-Use Office Top Stories Washington Western

Vulcan Developing Two Major Mixed-Use Projects Near Seattle Anchored by Amazon

by John Nelson September 8, 2020

BELLEVUE, WASH. — Vulcan Real Estate, a Seattle-based owner and developer, is underway on two mixed-use developments known as 555 Tower and West Main in the central business district of Bellevue. Amazon (NASDAQ: AMZN) has preleased the office portion of both properties, which totals more than 2 million square feet. “We are very excited to be working with Amazon again, and we are thrilled to be kicking off our first development projects in the Bellevue CBD,” says Ada Healey, chief real estate officer for Vulcan. Bellevue is an upscale suburb of Seattle that sits on the east side of Lake Washington in the state’s Puget Sound area. “It is projects like these that will help stimulate business in Bellevue and help create jobs and opportunity — from construction jobs to new roles in hospitality and local retail — in the years to come,” adds Healey. The 555 Tower will be a 42-story building comprising 967,500 square feet of office space and 28,400 square feet of retail space. The site is located at 555 108th Ave. NE, immediately adjacent to the Bellevue Transit Center and within walking distance of the future Sound Transit light rail station that is scheduled to open …

September 8, 2020

Features Mixed-Use

Mixed-Use Destinations Must Be Redesigned for Post-Pandemic World

by Taylor Williams September 3, 2020

By J.F. Finn and Duncan Paterson of Gensler Across the globe, people have replaced in-person visits to sports and entertainment venues, retail centers, convention facilities and other mixed-use environments with virtual gatherings and Zoom meetings. Yet the prevailing view in commercial real estate is that virtual engagement is not a long-term solution for authentic human interaction. In fact, the current crisis is only reinforcing the vital role that public spaces play in bringing people together and promoting health and well-being. The question is, “What has to change for mixed-use developments to be both safe and vibrant?” Here are some scenarios and opportunities we believe can help designers and developers transition into the “new normal” requirements for mixed-use environments and public spaces. Modular Building Will Gain Traction COVID-19 has created an acute need for pop-up, flexible and adaptable spaces — facilities that are tailor-made for modular construction. This current surge in demand will both accelerate the removal of many existing barriers to the growth of modular construction and provide some very compelling advantages in the future. These changes should usher in more viable U.S. manufacturers to market as other industries begin to recognize the many benefits of modular construction. Fabricating and …

September 3, 2020

Development Mixed-Use New York Northeast

CIM Group, LIVWRK Top Out 21-Story Front & York Mixed-Use Tower in Brooklyn

by Taylor Williams August 28, 2020

NEW YORK CITY — Los Angeles-based developer CIM Group and Brooklyn-based LIVWRK have topped out Front & York, a 21-story mixed-use tower located at 85 Jay St. in the Dumbo neighborhood of Brooklyn. The property is situated on 3.1 acres and will consist of 408 for-sale condominium units, 320 rental apartments and 150,000 square feet of retail space. Residential amenities will include a pool, outdoor lounge areas, coworking space and a chef’s kitchen with a private dining room.

August 28, 2020

Loans Mixed-Use New Jersey Northeast

JLL Arranges $116.3M Construction Loan for North Market Mixed-Use Project in Morristown, New Jersey

by Taylor Williams August 27, 2020

MORRISTOWN, N.J. — JLL has arranged a $116.3 million construction loan for Phase I of North Market, a mixed-use project that will be located in Morristown, about 30 miles west of New York City. At completion, the 32.6-acre project will consist of 350 multifamily units, 40,500 square feet of office space, a 150-room boutique hotel and 94,500 square feet of retail and restaurant space. Thomas Didio of JLL arranged the loan through an undisclosed life insurance company on behalf of the borrower and developer, The S. Hekemian Group LLC of Englewood, New Jersey. Phase I, which is expected to be complete in about 24 months, will focus on the multifamily component, which will include amenities such as a pool, fitness center, outdoor grilling areas, coworking space and saunas.

August 27, 2020

California Civic Development Mixed-Use Restaurant Retail Western

Plenitude Holdings Plans 87-Acre Sports Entertainment Project Near Los Angeles

by Amy Works August 26, 2020

CARSON, CALIF. — Plenitude Holdings, a real estate investment partnership between Blanchard Entities and Shopoff Realty Investments affiliated entities, is developing The Creek at Dominguez Hills in Carson. Located off the 405 Freeway and north of East Del Amo Boulevard, the 87-acre development will offer more than 500,000-square-feet of retail, recreation and sports wellness space. In addition to retail, the project will feature a 199,000-square-foot, multi-use indoor sports complex designed to accommodate basketball and volleyball practice and team competitions, along with indoor turf training areas and a mezzanine level for viewing the courts below. The facility will be accessible to local sports groups, and open for daily community use and fitness programming. Additionally, The Creek at Dominguez Hill will offer more than eight acres of open space, including a three-kilometer jogging path, a 6.6-acre community park, a zipline and ropes course, and a clubhouse featuring a rooftop deck suitable for community and special events. Plenitude Holdings is finalizing the development plans and expects to break ground in mid-2021. The company has retained Sports Facilities Management to manage the property and partnered with FlyingTee, an active entertainment, golf and dining company, for their first location in California. FlyingTee will offer private …

August 26, 2020

Development Mixed-Use Nevada Top Stories Western

Matter Real Estate Begins Construction of $400M UnCommons Mixed-Use Project in Las Vegas

by Taylor Williams August 24, 2020

LAS VEGAS — San Diego-based developer Matter Real Estate Group has started construction of UnCommons, a $400 million mixed-use project in Las Vegas. Designed by Gensler, the development is located on a 40-acre site at Interstate 215 and Durango Drive on the city’s southwest side. Plans currently call for 500,000 square feet of Class A office space and 830 multifamily units, as well as retail and restaurant space. Completion of Phase I is scheduled for early 2022. The Las Vegas Review-Journal reports that construction on the project was delayed due to COVID-19. Subsequently, the development team has pivoted to “near hospital-quality” HVAC systems and interior finishes made of materials designed to limit the spread of diseases like the novel coronavirus. “We recognized with COVID-19 that a fundamental shift was taking place that would render many office structures as unsafe and therefore obsolete practically overnight,” says Jim Stuart, partner at Matter Real Estate Group. “With the adjustments we made to our building systems, plus additional design attributes, we believe we have unlocked the answer for employee safety that will serve as the preferred model moving forward.” The retail and restaurant component will take the form of a public outdoor venue that …

August 24, 2020

Loans Mixed-Use Texas

JDI Realty Provides $6.6M Bridge Loan for Mixed-Use Project in San Antonio

by Taylor Williams August 18, 2020

SAN ANTONIO — Chicago-based JDI Realty has provided a $6.6 million bridge loan for The Granary at Briggs Ranch, an 865-acre mixed-use project in San Antonio. The nonrecourse loan will be used to pay off the current first mortgage, fund an interest reserve and cover other pre-development costs before the property’s eventual sale. Current plans for the project include roughly 2,500 single-family homes, 1,900 apartments and a central town square. The borrower was Convergence Brass LLC.

August 18, 2020

Leasing Activity Midwest Mixed-Use Multifamily Office Ohio Retail

ACRE Provides $68.5M Refinancing for City Club Apartments in Cincinnati

by Amy Works August 18, 2020

CINCINNATI — Asia Capital Realty Estate (ACRE) has provided $68.5 million of floating-rate debt to refinance City Club Apartments. The loan, which was underwritten with a loan-to-value ratio of 63.4 percent, has a two-year term and two single-year extension options. Located at 309 Vine St. in Cincinnati, City Club Apartments is a mixed-use property featuring 294 apartments and penthouses, 31,928 square feet of office space and 17,498 square feet of retail space. The sponsor acquired the property in 2016 as a vacant office building and recently repositioned the asset into a Class A mixed-use apartment community. At the time the financing closed, 90 percent of the multifamily units were leased, 100 percent of the retail space was leased and 67 percent of the office space was occupied. Chicago-based Draper and Kramer brokered the transaction.

August 18, 2020

Development Mixed-Use Southeast Tennessee

Third & Urban, FCP Open Sylvan Supply Development in Nashville

by Alex Tostado August 17, 2020

NASHVILLE, TENN. — Third & Urban and FCP have opened Sylvan Supply, a 194,000-square-foot adaptive reuse project in Nashville’s Sylvan Park neighborhood. The property offers 162,000 square feet of office space and 32,000 square feet of retail and restaurant space. Sylvan Supply is located at 401 Charlotte Ave., three miles west of downtown Nashville. The site is home to the former Madison Mill. Office tenants include consulting firm Accenture, Keller Williams Realty Nashville and consulting firm FortyAU. Retail and restaurant tenants include Radish Kitchen, fitness center Row House, Woodland Wine Merchant, Bearded Iris Brewing, Pure Barre and Otaku Ramen. Bill Adair and Ashley Albright Marshall of JLL handle the office leasing efforts at Sylvan Supply, while Elliott Kyle of Equitable Property Co. oversees retail leasing. Centric Architecture designed the property, and Hodgson Douglas was the landscape architect.

August 17, 2020

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