Mixed-Use

Edens, Gables Residential Break Ground on Mixed-Use Project in Alexandria

by John Nelson March 9, 2017

ALEXANDRIA, VA. — Edens and Gables Residential have broken ground on a new mixed-use project located at 530 First St. in Alexandria. The groundbreaking ceremony was attended by principals of Edens and Gables Residential, as well as Alexandria Mayor Allison Silberberg and members of the city government. The project will include 232 apartment residences and 50,000 square feet of commercial space. The property will also feature an enhanced streetscape, public art on-site and a Capital Bikeshare station. Edens and Gables Residential plan to open the 530 First Street project in 2019.

March 9, 2017

Mixed-Use Texas

Moody Rambin Closes Sale of Flex Site in Northeast Houston

by Taylor Williams March 8, 2017

HOUSTON — Moody Rambin has finalized the sale of 7810 Fairbanks-N. Houston Road, a 23.4-acre property zoned for retail or office use in northeast Houston’s Cypress Fair neighborhood. Brent Fredricks and Bob Gulley of Moody Rambin represented the seller, The Zaidi Family Trust, in the transaction. Debbie Barela and Crystal Robinson of Fidelity National Title represented the buyer, Jarrar Holdings LLC.

March 8, 2017

Mixed-Use New York Northeast

Interior Fit-Out Completed for 45,000 SF Fernandez-Duminuco Hall Addition in Manhattan

by Haisten Willis March 7, 2017

NEW YORK CITY – Construction manager Richter+Ratner (R+R) and architect Beyer Blinder Belle have completed the interior fit-out of Xavier High School’s 45,000-square-foot Fernandez-Duminuco Hall. The project is located on six floors and the cellar level of a 25-story mixed-use building at 35 W. 15th St. Xavier is a Jesuit college preparatory school for young men founded in 1847 in the Chelsea neighborhood of Manhattan. The school’s campus includes six buildings located alongside the Church of Saint Francis Xavier. Fernandez-Duminuco Hall is Xavier’s first campus expansion in more than 90 years. The $11.7 million, nine-month project called for the construction of a science, technology, engineering, arts and math (STEAM) classroom, music facilities, a recording studio, student project space and a multi-use area that hosts theater productions and major assemblies. Fernandez-Duminuco Hall is located within a larger 170,000-square foot, 330-foot tall luxury residential condominium tower named 35XV, which was designed by FXFowle. The developer, Alchemy Properties, obtained the air rights for the new building from Xavier High School in exchange for locating the hall inside the new development. In addition to R+R, Beyer Blinder Belle and McLaren Engineering, the project team included owner’s representative Sterling Project Development; structural engineer for the …

March 7, 2017

Loans Mixed-Use New York Northeast

Madison Realty Capital Provides $18M First Mortgage Loan for Mixed-Use Portfolio in Brooklyn

by Haisten Willis March 7, 2017

NEW YORK CITY – Madison Realty Capital (MRC), an institutionally-backed real estate investment firm focused on real estate equity and debt investments, has provided an $18 million first mortgage loan to finance the acquisition of an eight-property, 64,438-square-foot mixed-use portfolio in Greenpoint, Brooklyn. The portfolio consists of 3 Sutton St., 5 Sutton St., 657 Meeker Ave., 661 Meeker Ave., 667 Meeker Ave., 669 Meeker Ave., 673 Meeker Ave. and 164-166 Kingsland Ave. The buyer contributed $11 million of cash equity to complete the acquisition, and plans to maximize value through renovation and repositioning. In total, there are 73 market rate residential units and 14 commercial units in the portfolio. Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Mike Kerwin brokered the deal.

March 7, 2017

Loans Mixed-Use Northeast Rhode Island

TARC Recapitalizes Mixed-Use Development in Providence, R.I.

by Haisten Willis March 7, 2017

Providence, R.I. – The Armory Revival Co. (TARC) has recapitalized Rising Sun Mills, a 313,000-square-foot mixed-use complex with 135 residential units and 130,000 square feet of commercial space located at 166 Valley Street in Providence. On-site management by TARC will oversee new construction commencing immediately with lobby renovations. The recapitalization will also fund tenant improvement projects, accounting for 90,000 square feet of available commercial space. CBRE’s Andrew Galvin leads the leasing efforts for Rising Sun Mills. Located two miles from downtown Providence, Rising Sun Mills is accessible from Routes 6 and 10 as well as Interstate 95. The campus includes 135 residential units and offers office tenants a parking ratio of four per 1,000 square feet. The site features a waterfall and walking/bike paths along the Woonasquatucket River. The property features the on-site Café at Easy Entertaining and offers proximity to local and regional restaurants in Olneyville Square, Atwells Avenue and on Broadway.

March 7, 2017

Florida Hospitality Mixed-Use Southeast

MDM Group Buys Site at Miami Worldcenter for $45M

by John Nelson March 7, 2017

MIAMI — MDM Group has closed on the $45 million purchase of five acres at N.W. 7th Street and 1st Avenue within Miami Worldcenter, a $2 billion development now under construction that will feature residential, retail, office and hospitality components. The seller was Old Arena LLC, an entity led by Nitin Motwani. The site, the original home of the former Miami Arena, will house the Marriott Marquis Marriott Worldcenter Hotel & Expo Center. The project will be built in two phases, the first of which will include 600,000 square feet of conference and exposition space and 1,100 hotel rooms. Phase II will comprise a 600-room hotel tower. The development is expected to generate thousands of jobs during construction phases and hundreds of direct and indirect jobs once the hotel and conference center are fully operational. The design team includes Miami-based architect Nichols Brosch Wurst Wolfe & Associates and interior designer RTKL. MDM Group expects to break ground on the project by the end of the year. Master developer Miami Worldcenter Associates, led by Art Falcone and Motwani, will deliver Miami Worldcenter in phases over the coming years.

March 7, 2017

Mixed-Use South Carolina Southeast

NASH, Newland Acquire 4,000-Acre Nexton Community Near Charleston

by John Nelson March 6, 2017

SUMMERVILLE, S.C. — North America Sekisui House LLC (NASH) and development partner American Newland Communities LLP (Newland) have purchased 4,000 acres in Summerville from WestRock Land and Development for an undisclosed price. The acquired land is situated within the Nexton master-planned development near Charleston. WestRock will continue to develop its commercial land fronting I-26 and US 176, including the PPCP Medical Campus, the Nexton town center retail space and other commercial and retail projects. Nexton has been approved for up to 13,000 residential units, comprising single-family detached, single-family attached and multifamily. Currently, more than 200 homes have been sold or are currently under construction within Nexton. The Nexton acquisition is the first development project in the Charleston area for both NASH and Newland, whose plans for the project were not disclosed.

March 6, 2017

Mixed-Use Multifamily New York Northeast Retail

Urstadt Biddle Properties Sells Retail Property for Redevelopment in White Plains, New York

by Amy Works March 3, 2017

WHITE PLAINS, N.Y. — Urstadt Biddle Properties has completed the disposition of its Westchester Pavilion property, a former power center mall in White Plains. Maple and Broadway Holdings, a subsidiary of Lennar Corp. through its Lennar Multi-Family Communities, acquired the site for $56.6 million. The buyer plans to raze the property and develop a high-end, mixed-used property with residential and retail space.

March 3, 2017

Georgia Mixed-Use Southeast

W.C. Bradley to Develop Riverfront Mixed-Use Project in Columbus, Georgia

by John Nelson March 3, 2017

COLUMBUS, GA. — The W.C. Bradley Co. has unveiled plans for its land holdings along the Chattahoochee River in Uptown Columbus. The master plan, known as The River District, includes W.C. Bradley’s holdings from its corporate headquarters at 1017 Front Ave. to the Frank K. Martin Pedestrian Bridge on 14th Street in Columbus and almost nine acres in Phenix City, Ala. The River District’s first phase will be a 7.5-acre mixed-use complex between 13th and 14th streets known as Riverfront Place, which will include two apartments buildings, retail and office space and either an office building or hotel overlooking the river. The groundbreaking for the first building in Riverfront Place, called The Rapids, will take place within the next 60 days. The Rapids will be a 415,000-square-foot mixed-use building that will include 226 apartments, shops and a restaurant. The Rapids will feature three elevated courtyards including a garden-style pool, outdoor bar and TV area, bocce ball court, outdoor ping pong table, grilling stations, communal dining table, fire pit and poolside cabanas. Other amenities will include a 24-hour fitness center, private residents’ lounge with pool table, an indoor bar area and a TV room. The Rapids represents an estimated investment of …

March 3, 2017

Midwest Mixed-Use Nebraska Top Stories

Jasper Stone Plans $1.2B Mixed-Use Development in Omaha

by Kristin Harlow March 3, 2017

OMAHA, NEB. — Jasper Stone Partners has received preliminary governmental approval for Avenue One, a $1.2 billion mixed-use development in west Omaha. The Omaha Planning Board unanimously approved the nearly 200-acre project this week, according to the Omaha World-Herald, the local daily newspaper. Avenue One will be located south of 192nd and Dodge streets. The development will feature office, retail, residential, hotel and civic spaces, as well as public green spaces and walking trails. Jasper Stone plans to break ground later this year on the project, which will consist of 1.3 million square feet of office and retail space, and more than 2,000 residential units. Phase I of construction is slated for completion in late 2018. Avenue One will be one of the largest projects of its kind in Omaha and is expected to have an annual economic impact of more than $1 billion, according to a news release from the developers. Jasper Stone is working with Block Real Estate Services LLC during the master planning phase. Other participants in the project include HOK for architecture and land planning, Omaha-based Olsson and Associates for engineering and design, Pansing Hogan Ernst & Bachman and Husch Blackwell for legal services and Pinnacle …

March 3, 2017

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