Mixed-Use

CCR North Starts Construction of Phase II at Crismon Gateway Village in Mesa, Arizona

by Amy Works September 16, 2019

MESA, ARIZ. — CCR North LLC has started construction on Phase II of Crismon Gateway Village, an approximately $40 million mixed-use project situated at the northeast corner of Crismon and Baseline roads in Mesa. The second phase will bring a mix of tenants, including Martin Dental, Vantage West and Sassy’s Café & Bakery. Current tenants include Black Rock Coffee, Bella Nail Bar, Filiberto’s, Radius Fitness and Doc’s Artisan Ice Cream. Upon completion, the master-planned community will include 22,040 square feet of retail, restaurant and office space and a 128-unit multifamily property with individual suite patios. Mary Nollenberger and Nicole Ridberg of SVN/Desert Commercial Advisors are handling leasing efforts for the development.

September 16, 2019

Development Florida Mixed-Use Southeast Top Stories

PMG, Greybrook Plan 49-Story Mixed-Use Tower in Miami

by Alex Patton September 13, 2019

MIAMI — A development partnership between New York City-based Property Markets Group (PMG) and Toronto-based Greybrook Realty Partners are currently developing 400 Biscayne, a mixed-use project offering 646 rental apartments in Miami. Slated for completion in 2021, the 49-story building will include 51,000 square feet of commercial space and a 22,000-square-foot redesigned First United Methodist Church of Miami. PMG originally bought the development site from the church in 2018 for $55 million, and the developers broke ground on 400 Biscayne in June of this year. The church will incorporate a chapel, fellowship hall, basketball court, classrooms and offices spanning the bottom 10 floors of the building, and will have its own separate entrance and parking. “We are working hand-in-hand with First United Methodist Church and Greybrook Realty Partners to create something special for the neighborhood, which will continue to foster growth and connection in this city we love,” says Ryan Shear, managing partner of PMG. Additional amenities of the building will include a public lobby lounge and restaurant, co-working spaces, a gym and fitness studio with frequent group classes, bike storage facilities, and a massive pool. The Miami Herald reports that a portion of the units at the 400 Biscayne project …

September 13, 2019

Development Mixed-Use Northeast Pennsylvania

Pearl Properties Completes Development of 183-Unit Mixed Use Project in Philadelphia

by Alex Patton September 9, 2019

PHILADELPHIA — Pearl Properties has completed development of The Harper, a 183-unit mixed use building in Philadelphia. The 280,000-square-foot property includes office and retail space, as well as a ground-floor restaurant, co-working lounges and a fitness center with an indoor basketball court. An outdoor rooftop area features a heated pool, lounge and grilling area. DAS Architects designed the building.

September 9, 2019

California Development Mixed-Use Top Stories Western

Liberty National Buys Downtown San Diego Site to Develop 40-Story Mixed-Use Project

by Alex Patton September 6, 2019

SAN DIEGO — Liberty National Corp., a San Diego-based multifamily developer, has assembled a 1.38-acre, full-block site in San Diego and announced plans for a mixed-use project on the property. Liberty’s proposal includes a 40-story residential tower and two mid-rise buildings of six and seven stories. The property will offer a total of 640 apartments in a mix of 553 one-bedroom units, 86 two-bedroom units and one three-bedroom unit. Additionally, the development will feature 16,485 square feet of multi-tenant commercial/retail space spread across the ground floors of the three buildings. The project is located at the intersection of Park Boulevard and Broadway in downtown San Diego’s East Village. The San Diego Union-Tribune reports that the Liberty purchased the last piece of the site from the Salvation Army for approximately $7.7 million. “The site is a strategic acquisition given our interests in the area and its location at the juncture of two major entries into the downtown core on the high-activity Broadway and Park Boulevard corridors,” says Randy Williams, vice president with Liberty National. “There remains a housing shortage in San Diego. As this sought-after region continues to grow and attract talent, this new project will appeal to a wide range of residents …

September 6, 2019

Arizona Development Mixed-Use Multifamily Retail Western

High Street Residential, CBRE Global Investors Break Ground on The Fillmore Mixed-Use Project in Downtown Phoenix

by Amy Works September 6, 2019

PHOENIX — High Street Residential, the residential subsidiary of Trammell Crow Co., and a fund sponsored by CBRE Global Investors have commenced construction on The Fillmore, a mixed-use project in downtown Phoenix. Situated on 2.8 acres at the southeast corner of Fifth Avenue and Fillmore Street, Phase I will include a seven-story, 533,460-square-foot building with 348 multifamily units, 480 parking spaces and more than 7,000 square feet of ground-floor retail space. The first phase will feature one-, two- and three-bedroom apartments, as well as studio and junior one-bedroom units, ranging in size from 489 square feet to 1,626 square feet. The building will include a clubhouse featuring work-from-home suites, a tequila room for resident gatherings, billiards room, kitchen and bar, lounge, catering kitchen, double-sided fireplace and shuffleboard. Other amenities include a fitness center, swimming pool, cabanas, grilling stations, swinging lounge chairs, spa, hammocks, fire pits secure bike storage and Wi-Fi throughout the property’s common areas. Additionally, the phase will feature a second outdoor deck with a water feature, dog run and park. Completion of Phase I is slated for September 2021. Chasse Building Team is serving as general contractor. Alliance Bank is providing financing for the project.

September 6, 2019

Development Michigan Midwest Mixed-Use

Bedrock Selects ODA as Architect for Book Tower Rehabilitation in Detroit

by Kristin Harlow September 5, 2019

DETROIT — Bedrock has selected ODA as the design architect for the Book Tower, an adaptive reuse project in Detroit. The project includes a mix of residential, hospitality, retail and office space. The 486,760-square-foot office tower was originally designed by Louis Kemper in 1916 in an Italian Renaissance style. Bedrock acquired the 38-story tower in 2015 and recently completed an extensive exterior restoration, including the replacement of 2,483 windows. ODA plans to add a variety of public amenities, including retail, galleries, restaurants and a café. The project team also includes construction manager Brinker/Christman, civil engineer Giffels Webster, structural engineer Buro Happold, as well as Kraemer Design Group for historic preservation and ARUP for acoustics and security. The building was named after the famous Book Brothers of Detroit. The last tenant, Bookie’s Tavern, closed in early 2009 leaving the entire building vacant.

September 5, 2019

Loans Mixed-Use New York Northeast

ACRES Capital Provides $35M Construction Loan for Mixed-Use Property in Long Island

by Alex Patton September 4, 2019

LONG ISLAND CITY, N.Y. — ACRES Capital Corp., a New York-based lender, has provided a $35 million construction loan for 23-20 Jackson Avenue, an 82,000-square-foot mixed-use project located in Long Island City. Local real estate developer VOREA Group was the borrower. Designed by Oklahoma-based KSQ Architects, the property will feature retail across the ground floor and basement, two floors of office space and six floors of hospitality space. Marko J. Kazanjian of JLL arranged the loan, which carries a term of 24 months.

September 4, 2019

Acquisitions Colorado Mixed-Use Office Retail Western

Cushman & Wakefield Brokers Acquisition of Historic Mixed-Use Building in Denver for $6.4M

by Amy Works September 4, 2019

DENVER — Cushman & Wakefield has facilitated the sale of 1925 Blake Street, a 129-year-old mixed-use building in Denver’s Lower Downtown neighborhood. The property traded for $6.4 million, or $418 per square foot. The names of the seller and buyer were not released. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield’s Denver Capital Markets group handled the transaction. Originally constructed in 1890 as a warehouse, the three-level building was converted into an office building in 1934. At the time of sale, the 15,375-square-foot building was fully leased to four tenants.

September 4, 2019

Loans Massachusetts Mixed-Use Northeast

Urban Spaces Secures $71M Construction Loan for Mixed-Use Development in Metro Boston

by Alex Patton August 30, 2019

CAMBRIDGE, MASS. — Urban Spaces, a locally based developer, has secured a $71 million construction loan for Kendall East, a mixed-use development in Cambridge, a northeastern suburb of Boston. People’s United Bank provided the long-term loan. The development will house120 multifamily units, including 16 affordable apartments, and 15,000 square feet of retail space. Across the street, the CambridgeSide shopping center is slated for redevelopment with new office, lab and residential space. Designed by New York-based architectural firm Perkins Eastman, Woburn-based Tocci Building Corp. in building Kendall East.

August 30, 2019

Conference Coverage Features Georgia Mixed-Use Southeast

InterFace Panelists Predict More Variety, Less Food for Future Mixed-Use Projects

by Alex Patton August 29, 2019

ATLANTA — Traditionally, mixed-use developments are multifamily-based with ground-floor retail or dining and a few floors of offices in between or adjacent. That combination still works, but changing demographics demand more variety from the popular model, according to panelists of InterFace Mixed-Use Southeast on Aug. 22 at the Westin Buckhead in Atlanta. Projects like The Battery Atlanta and the upcoming Revel development in nearby Duluth are anchored by popular entertainment sites — SunTrust Park and Infinite Energy Center, respectively. Other upcoming developments in the Southeast like Kern’s Bakery in Knoxville, Tennessee, will feature student housing, while others like 12|12 Aventura in South Florida will feature seniors housing units. Speakers at the show cautioned that while restaurants are necessary elements of a successful mixed-use project and often bring some added variety, food and beverage options nationwide are becoming oversaturated, especially in mixed-use settings. Professionals involved with some of the most successful mixed-use developments in the Southeast spoke about prominent trends and the future of the product type at the conference. Overall the various speakers were bullish on the product type going forward as demand generators such as job and population growth are strong in the Southeast’s top markets. “I see two …

August 29, 2019

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