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

By J.F. Finn and Duncan Paterson of GenslerAcross 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 …

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

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

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

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 …

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

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 …

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

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 …

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

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

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

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 …

Third & Urban, FCP Open Sylvan Supply Development in Nashville

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 …

Sunnyvale City Council Approves Next Phase of CityLine Sunnyvale Mixed-Use Project in California

SUNNYVALE, CALIF. — Sunnyvale City Council has approved a Downtown Specific Plan and Development Agreement that allows for the next phase of CityLine Sunnyvale to begin. STC Venture, a partnership between Sares Regis Group of Northern California and Hunter Properties, is developing the multi-phase redevelopment project in downtown Sunnyvale.The new phase will add 792 residential units and 653,000 square feet of office space above 182,000 square feet of ground-floor retail space on four …

Realty Capital Management Acquires 77 Acres for Mixed-Use Project in Mansfield, Texas

MANSFIELD, TEXAS — Realty Capital Management has acquired 77 acres in the Fort Worth suburb of Mansfield for the development of Watson Branch, a mixed-use project. Preliminary plans call for 10,000 square feet of retail and restaurant space, 250 single-family homes, a 190-unit active adult community by Greystar, a 350-unit apartment complex by Trinsic Residential and a 10-acre public park. Louisiana-based First Guaranty Bank partnered with Dallas-based Realty Capital Partners to finance the …

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