Mixed-Use

Ackerman, MDH Partners to Develop $85M Mixed-Use Expansion at Lee + White Project in Atlanta

by Alex Patton May 22, 2020

ATLANTA — A partnership of local developer Ackerman & Co. and MDH Partners will soon begin construction of an $85 million multifamily, office and retail expansion to the Lee + White retail property in Atlanta’s West End neighborhood. The partnership acquired the 11-building, 433,204-square-foot property from Stream Realty Partners in September 2019 and began redeveloping the former industrial property as a mixed-use dining and beverage destination. Atlanta-based Smith Dalia Architects is the master designer of the project. Development plans include the ground-up construction of a two-story glass structure featuring a 17,000-square-foot food and retail “collective” on the first floor and 18,000 square feet of loft offices on the second floor. The team will convert multiple warehouses on the property into 127,000 square feet of modern office space, as well as 250 multifamily units. Monday Night Brewing currently anchors the property with its 22,000-square-foot Monday Night Garage brewery and event space. Other tenants include Wild Heaven Beer, ASW Distillery, Cultured South Fermentation Co. and Hop City Craft Beer & Wine. All current tenants have been implemented into the master plan and will remain in their current spaces. The property is located directly along the Atlanta BeltLine’s Westside Trail, a 22-mile walking trail …

May 22, 2020

Development Illinois Midwest Mixed-Use

Habitat Co. Tops Off Phase I Building of $200M Mixed-Use Project in Chicago

by Kristin Harlow May 22, 2020

CHICAGO — The Habitat Co., along with James McHugh Construction Co. and Bowa Construction, have topped off a 50,000-square-foot office and retail building that marks Phase I of the $200 million Ogden Commons mixed-use project in Chicago’s North Lawndale neighborhood. The building, scheduled for completion in January, will house Steak n’ Shake, Ja’ Grill and Wintrust Bank on its ground floor. The second and third floors will include medical office space leased to Sinai Health System for outpatient services. Cinespace Chicago Film Studios will also lease office space on the second and third floors for its two nonprofit affiliates. Habitat formed a public-private partnership with Sinai Health System, Cinespace Chicago Film Studios, the Chicago Housing Authority (CHA) and the city of Chicago to develop the 10-acre block along Ogden Avenue. Upon completion, the project will include 120,000 square feet of commercial and retail space and more than 350 mixed-income housing units. The project site was formerly home to the CHA’s Ogden Courts and Lawndale public housing developments. Ogden Commons is being financed through a combination of debt and Opportunity Zone equity. PNC Bank funded $15 million of the $22 million development cost for Phase I. Construction of the residential component …

May 22, 2020

Acquisitions Mixed-Use Texas

Ryman Hospitality Terminates Agreement to Purchase Block 21 Mixed-Use Development in Austin

by Taylor Williams May 22, 2020

AUSTIN, TEXAS — Nashville-based REIT Ryman Hospitality Properties Inc. (NYSE: RHP) has terminated its agreement to purchase Block 21, a mixed-use development that occupies a full city block in downtown Austin. Ryman initially agreed in December to purchase the property from Stratus Properties Inc. (NASDAQ: STRS) for $275 million, including a debt assumption of $142 million. As a result of the termination of the transaction, Ryman will forfeit its nonrefundable deposit of $15 million provided to Stratus in connection with the execution of the purchase agreement in December 2019. Originally developed in 2010, Block 21 houses the 2,750-seat Moody Theater, The project also features W Austin Hotel & Residences, 3TEN ACL Live club, 40,000 square feet of Class A office space and 18,000 square feet of retail and restaurants space.

May 22, 2020

Kansas Market Reports Midwest Midwest Market Reports Mixed-Use

Building Momentum: How Public-Private Partnership Revitalized Downtown Topeka, Kansas

by Kristin Harlow May 21, 2020

The city of Topeka has built significant momentum in the five years since its downtown revitalization. Capital investment and strategic planning at the city’s center had a reverberating effect across town, from the expansion of vocational-technical training to the growth of Kanza Fire Commerce Park. Public-private partnership The year 2015 was pivotal with a $9.4 million public-private investment in infrastructure and amenities along Kansas Avenue, the main downtown thoroughfare. The city invested $5.8 million in roadway, sewer and streetscape infrastructure. Meanwhile, private businesses sponsored pocket parks with statues, benches and fountains. The Downtown Topeka Foundation brought another $4 million in private funding to the effort through its “Imagine Downtown” capital campaign. Since that day, local investors like AIM Strategies LLC have purchased more than 25 buildings on the avenue for gradual restoration into thriving businesses like Iron Rail Brewing, Cyrus Hotel and The Pennant restaurant, bowling alley and vintage arcade. Popular annual festivals and parades expect to see even more traffic after the unveiling of the next phase of major downtown investment. Evergy Plaza With 30-foot digital screens and the 50-foot CapFed On 7th Stage, Evergy Plaza was developed as a hub for community and a catalyst for business. The …

May 21, 2020

Development Michigan Midwest Mixed-Use Top Stories

Michigan Strategic Fund Approves $256M Red Cedar Mixed-Use Development in Lansing

by Kristin Harlow May 20, 2020

LANSING, MICH. — The Michigan Strategic Fund (MSF) has voted to approve the brownfield and tax-increment financing (TIF) plan for the Red Cedar project, a $256 million mixed-use development along Michigan Avenue in Lansing. The approval gives the developer, Continental/Ferguson Lansing LLC, the green light to move forward with construction. The developer expects to break ground on 181 market-rate apartments as well as an assisted living and memory care facility late this summer. A 792-bed student housing component is scheduled for completion in fall 2021. Construction of two dual-brand hotels, Hyatt House and AC Hotel by Marriott, is set to begin next year. Plans also call for a restaurant, retail space and a public park with an amphitheater and connection to the Lansing River Trail. The 35.5-acre project will connect the Lansing State Capitol to Michigan State University and adjacent communities along the Michigan Avenue corridor. The project will redevelop the long-abandoned Red Cedar golf course site. The MSF rejected a previous version of the project in March, according to Lansing City Pulse. The Lansing Brownfield Redevelopment Authority approved the local portion of the plan last year. “The approval of the project is positive news, especially with the unforeseen economic …

May 20, 2020

Company News District of Columbia Mixed-Use Southeast

Vogel Realty to Install New HVAC Systems in Historic D.C. Mixed-Use Building in Response to COVID-19 Concerns

by Alex Tostado May 19, 2020

WASHINGTON, D.C. — Vogel Realty has voluntarily implemented plans to install new heating and air conditioning systems designed to minimize airborne viruses and bacteria at Chelsea Gardens in Washington, D.C. The 105-year-old mixed-use building has been closed since D.C. Mayor Muriel Bowser announced stay-at-home orders for the District. Vogel Realty also plans to install handwashing stations and anti-microbial surfaces in the building before it can reopen on Saturday, May 30. The new HVAC systems will limit airflow between workspaces, bring more fresh air into units and neutralize viruses and bacteria. Chelsea Gardens was originally built as an office building in 1905 and was renovated 20 years ago to include retail and residential space.

May 19, 2020

Development Mixed-Use Texas

215 Westheimer LLC Breaks Ground on 13,200 SF Mixed-Use Project in Houston’s Montrose Area

by Taylor Williams May 18, 2020

HOUSTON — Locally based limited liability company 215 Westheimer LLC has broken ground on a 13,200-square-foot mixed-use project in Houston’s Montrose area. The first floor will feature retail and restaurant space, and the second floor will offer both traditional and medical office space. Identity Architects is designing the project, and Davis Commercial Real Estate is handling leasing. Construction is expected to be complete by the end of 2020.

May 18, 2020

Development Midwest Mixed-Use Ohio Retail

Columbus Crew Soccer Club Releases New Renderings for $230M Downtown Stadium

by Kristin Harlow May 15, 2020

COLUMBUS, OHIO — Columbus Crew SC, a Major League Soccer organization, has released new renderings for its stadium, which is currently under construction downtown. Completion is slated for summer 2021. Situated in the city’s Arena District, the stadium will feature a beer garden and a “crewhouse.” Premium club members will have access to an exclusive covered entrance. Project costs of the 20,000-seat venue are estimated at $230 million. The larger Confluence Village development will feature nearly 1,000 residential units as well as office and commercial space. The Crew’s current stadium is expected to be repurposed into a community sports park.

May 15, 2020

Development Florida Mixed-Use Southeast Top Stories

Rieber Developments Breaks Ground on 10-Story Mixed-Use Project in Suburban Miami

by Kristin Harlow May 13, 2020

AVENTURA, FLA. — Rieber Developments has broken ground on 12|12 Aventura, a 10-story mixed-use project featuring medical office, luxury senior residences and a food hall. The property is situated in Aventura, approximately 20 miles north of Miami. Arquitectonica designed the development, which will include a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of office space and a 160-unit senior living component with a structured parking garage. The roof will feature gardens and micro-parks. Along with its sister project Ivory 214, the development will serve as the epicenter of what the developer is calling the Aventura Health District. Located at 21290 Biscayne Blvd., 12|12 Aventura is less than one mile from Aventura Mall and directly adjacent to Aventura Hospital. “Breaking ground on 12|12 Aventura is a significant milestone for us, especially in these challenging times,” says Bernardo Rieber, principal of Rieber Developments. “Our philosophy in creating this project has always been to bring something new and unique to the neighborhood, melding community, culture, health and wellness to benefit the area.” Cervera Real Estate will serve as the exclusive brokerage for the office condos, 40 percent of which are sold and under contract. Winmar Construction, an affiliate of Coastal Construction, …

May 13, 2020

Development Maryland Mixed-Use Southeast

Holland Properties Breaks Ground on 85,000 SF Mixed-Use Development Near Baltimore

by Alex Tostado May 12, 2020

COLUMBIA, MD. — Holland Properties has broken ground on Lakeside Center, a planned 85,000-square-foot mixed-use development in Columbia. The project will comprise 55,000 square feet of retail space and 30,000 square feet of medical and office space. The office space will be designed with COVID-19 in mind, and will include features such as touchless building entry, touchless elevators and medical-grade HVAC systems. The property will also offer a parking ratio of five spaces per 1,000 square feet and exterior building signage for primary office or medical tenants. The property is situated near the intersection of Dobbin Road and Snowden River Parkway, 16 miles southwest of downtown Baltimore. Holland Construction is the owner, property manager and general contractor for Lakeside Center. Ryan Minnehan and Matt Copeland of KLNB will oversee retail leasing at the property, while David Fritz and Spence Daw, also with KLNB, will oversee office leasing. A timeline for construction was not disclosed.

May 12, 2020

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