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Mixed-Use

615 River Road
DevelopmentLoansMixed-UseMultifamilyNew JerseyNortheastTop Stories

S3 Capital Provides $255M Construction Loan for Mixed-Use Development Along Hudson River in New Jersey

by Abby Cox

EDGEWATER, N.J. — S3 Capital has provided a $255 million construction loan to finance the first phase of a $1 billion mixed-use development located on the Hudson River in the Northern New Jersey city of Edgewater. Galaxy Capital arranged the financing on behalf of the borrower and developer, New York City-based The Maxal Group. The initial phase of the project, dubbed 615 River Road, will be the first building in the planned development, which will ultimately comprise 1,200 residential units and more than 1,000 parking spaces, along with a 2.5-acre public waterfront park to link up with the 18.5-mile Hudson River Waterfront Walkway. A timeline for construction has not been announced. “We are thrilled to partner with The Maxal Group as they develop a transformative project that will bring much-needed state-of-the art housing and transit access to the Edgewater waterfront,” says Shawn Safdie of S3 Capital. “This transaction reflects our commitment to supporting best-in-class developers delivering new product to undersupplied markets.” 615 River Road will include a 25-story luxury apartment building featuring 381 units, ground-floor retail space and parking for roughly 500 vehicles. The property will also include a new public ferry terminal that will provide direct service to Manhattan’s west side. …

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Report: 26th Street Partners Acquires Krog Street Market, Adjacent Properties in Atlanta

by John Nelson

ATLANTA — Locally based 26th Street Partners has acquired Krog Street Market, a 30,000-square-foot adaptive reuse food hall and market in Atlanta’s Inman Park district, according to the Atlanta Business Chronicle. Charlotte-based Asana Partners sold the property, along with the adjacent Atlanta Stove Works, SPX Alley and Butler and Gravel buildings. The sales price was not reported, but Asana purchased the Krog District buildings in 2018 for $45.8 million. Paces Properties originally redeveloped the 1920s-era warehouse that was also formerly used as the home of Tyler Perry Studios into Krog Street Market in 2014. The property’s tenant roster includes Hop City, Fred’s Meat & Bread, Jeni’s Splendid Ice Creams, Superica, Ticonderoga Club, The Collective and The Merchant. Additionally, Patagonia has a large store at Krog District and Yeti will soon open a shop at the property, according to the Chronicle.

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Shake Shack to Join Tenant Mix at $5B Centennial Yards Project in Downtown Atlanta

by John Nelson

ATLANTA — Burger chain Shake Shack has signed a long-term lease for a new 3,010-square-foot restaurant at Centennial Yards, a $5 billion mixed-use development underway in downtown Atlanta. CIM Group and affiliate Centennial Yards Co. are transforming the 50-acre site that was locally known as the Gulch into a high-end entertainment and hospitality destination near Mercedes-Benz Stadium (home of the Atlanta Falcons and Atlanta United) and State Farm Arena (home of the Atlanta Hawks). The restaurant will be Shake Shack’s first location in downtown Atlanta and is expected to open next year. Other previously announced tenants joining Centennial Yards include a 5,300-square-foot Live Nation entertainment venue and Cosm, an immersive experiential sports and entertainment operator. Other food-and-beverage options include the Wild Leap brewery and Khao Thai Isan, a Thai tapas concept within The Mitchell residential tower. Shake Shack has previously announced plans to open a restaurant in another sports and entertainment district in Atlanta: The Battery, where it will backfill Wahlburger’s.

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Build-to-RentDevelopmentGeorgiaMixed-UseMultifamilySingle-Family RentalSoutheast

Mallory & Evans to Develop $95M Mixed-Use Community in Athens, Georgia

by John Nelson

ATHENS, GA. — Atlanta-based Mallory & Evans has plans to develop The Shoals, a mixed-use development located near University of Georgia in Athens. The $95 million Phase I will feature 285 residences, 456 parking spaces (garage and street), green spaces and more than 20,000 square feet of retail and commercial space. Residences will come in studio to four-bedroom configurations in multiple formats — townhomes, duplexes, cottages, live/work units and single-family homes — and are expected to deliver in 2027. Phase I will span 22 acres of the 90-acre site, which will interface with the Athens Firefly & Greenway Trail system. Ultimately, The Shoals will feature more than 600 residences and commercial space across four connected pocket neighborhoods.

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DevelopmentGeorgiaHospitalityMixed-UseRetailSoutheast

Selig Sells 45 Acres at LaGrange Mixed-Use Campus for Georgia’s First Professional Cricket Stadium

by John Nelson

LAGRANGE, GA. — Selig Enterprises has sold 45 acres at Sola, the Atlanta-based company’s 180-acre mixed-use campus in LaGrange. The buyer, the founders of DAS Cricket Academy and NJ Blackcaps in New Jersey, plan to develop Georgia’s first professional cricket stadium on the site. The LaGrange Cricket Stadium will be the first privately owned cricket stadium in the United States and the fourth cricket stadium in the country. The open-air stadium will break ground this fall and is slated to be completed in the first quarter of 2027. The project will have 10,500 seats, expandable to 25,000, and be designed to International Cricket Council regulations. The stadium will also have a FIFA-regulated soccer field and host various events. Additionally, a hotel with a sports-focused food-and-beverage program is planned on the 45-acre site, complementing the Marriott hotel currently under construction within Sola that Noble Investment Group is developing, as well as the Great Wolf Lodge resort that is situated on the northern end of the Sola campus. Selig plans to add offices, apartments, single-family homes and 150,000 square feet of retail at the Sola development in the near future.

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2875-Broadway-Manhattan
LoansMixed-UseNew YorkNortheast

Tremont Realty Capital Provides $34.5M Refinancing for Manhattan Mixed-Use Building

by Taylor Williams

NEW YORK CITY — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $34.5 million loan for the refinancing of a mixed-use building on Manhattan’s Upper West Side. The 23,300-square-foot building at 2875 Broadway houses retail and healthcare uses. Tremont funded the floating-rate loan, which has a two-year initial term with three one-year extension options, through its affiliate, Seven Hills Realty Trust (NASDAQ: SEVN). Meridian Capital Group arranged the debt on behalf of the sponsor, a partnership between TPG Angelo Gordon and Premier Equities.

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CaliforniaDevelopmentLeasing ActivityMixed-UseRetailWestern

Cain International Provides Updates on $10B One Beverly Hills Mixed-Use Project

by Kristin Harlow

BEVERLY HILLS, CALIF. — Cain International has provided updates on One Beverly Hills, a 17.5-acre mixed-use project in metro Los Angeles that is valued at roughly $10 billion. Luxury fashion brand Dolce & Gabbana, as well as restaurants Casa Tua Cucina and Los Mochis, have been confirmed as three of the first tenants within the development’s 200,000-square-foot retail district, which is planned to ultimately feature 45 shopping and dining options. In addition, construction is underway on Aman Beverly Hills, which will consist of a 78-suite hotel, two residential towers, a private club and 10 acres of botanical gardens and open space. The latter element will connect The Beverly Hilton hotel, which is currently being renovated, and the Waldorf Astoria Beverly Hills hotel. 

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DevelopmentHospitalityMixed-UseNevadaRestaurantRetailTop StoriesWestern

Bally’s Unveils Plans for 35-Acre Entertainment Resort Destination on Las Vegas Strip

by John Nelson

LAS VEGAS — Bally’s Corp. (NYSE: BALY) has announced plans for Bally’s Las Vegas, an entertainment resort destination planned on the 35-acre site of the former Tropicana Las Vegas hotel and casino. The casino and sports entertainment operator is partnering with JLL and Marnell Cos. on the development, which is being submitted to Clark County for entitlements. Bally’s Las Vegas will share the site with the new Las Vegas Athletics Major League Baseball ballpark, a move by the Oakland Athletics that was announced and approved in 2023. Bally’s expects construction at Bally’s Las Vegas to begin in the first half of 2026. “Bally’s Las Vegas represents a once-in-a-generation opportunity to redefine the heart of the Strip,” says Soo Kim, chairman of the board of directors at Bally’s. “With world-class partners like JLL and Marnell, and with the arrival of Major League Baseball, we are not just building an integrated resort. We are creating a landmark destination that unites sports, entertainment, dining and hospitality on a scale only Las Vegas can deliver.” Plans for Bally’s Las Vegas include two luxury hotel towers totaling 3,000 rooms, an entertainment venue with a seating capacity of 2,500 and more than 500,000 square feet of …

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Developer-Panel-InterFace-Houston-Retail-Mixed-Use
Conference CoverageMarket ReportsMixed-UseRetailTexasTexas Market Reports

InterFace Panel: Houston Retail, Mixed-Use Developers Face All Manner of Barriers to Supply Growth

by Taylor Williams

Executing ground-up development for pure-play retail space — or retail product in mixed-use settings — in Houston is immensely challenging these days for a variety of reasons, despite the fact that the city has the underlying job and housing growth needed to justify a greater inventory of retail product. While all retail developers in Houston face similar headwinds in terms of costs of capital and construction materials/labor, as well as elevated tenant improvement (TI) costs and hefty required return thresholds from investors, it’s difficult to single out any one of those factors as most responsible for the dearth of new retail development. Some issues will be felt more acutely in some submarkets than others. Certain companies may have better connections and capital situations such that they can circumvent some of the uncontrollables. But no matter the combination of barrier-to-entry factors, the net result is the same: a market that cannot adequately supply retail product to meet demand. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. At the annual InterFace Houston Retail & Mixed-Use conference that took place on Aug. …

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Affordable HousingDevelopmentGeorgiaIndustrialMixed-UseMultifamilySoutheast

Atlanta Beltline Issues RFP for Mixed-Use Development on Southside Trail

by John Nelson

ATLANTA — Atlanta Beltline has issued a request for proposals (RFP) for new mixed-use development on a site along the Beltline’s Southside Trail. The 13.7-acre site is located at 356 University Ave. near the city’s historic Pittsburgh neighborhood that the Beltline purchased in 2023. Atlanta Beltline met with more than two dozen community groups since April 2024 to discuss future plans for the site. Based on the community feedback and the Beltline’s newly completed master plan, the RFP is seeking a mix of market-rate and affordable housing, as well as a mix of commercial and industrial uses. More specifically, the RFP calls for at least 30 percent of residential units reserved as permanently affordable (10 percent at or below 80 percent AMI, 20 percent at or below 50 percent AMI); a minimum of 30 percent of total floor area dedicated to light-industrial use; affordable commercial space (at least 20 percent at rents 30 percent below market for more than 10 years); a partnership with an arts, cultural or community organization for onsite programming; and accessible green spaces, ADA pathways and Beltline connectivity. To date, the Beltline has acquired nearly 90 acres preserved for residential and commercial affordability for both residents …

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