NEW YORK CITY — Meridian Capital Group has arranged $4 million in financing for a mixed-use property in the Hell’s Kitchen neighborhood of Manhattan. Provided by JPMorgan Chase, the seven-year loan features a fixed-rate of 3.8 percent. Located at 755 Ninth Ave., the five-story property features 20 apartments and 2,000 square feet of retail space. Brian Flax and Blake Orman of Meridian’s New York City headquarters office negotiated the financing for the undisclosed borrower.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. and its wholly-owned subsidiary The Woodlands Development Co. have officially opened Restaurant Row at Hughes Landing, a mixed-use development including restaurants, retailers, multifamily residences, entertainment venues, office buildings and an Embassy Suites by Hilton hotel. California Pizza Kitchen, Del Frisco’s Grille, Escalante’s Fine Tex-Mex & Tequila and Local Pour are now open in Restaurant Row, with Truluck’s and Fogo de Chão under development. Retailers now open include Cadence Bank, CUPS Frozen Yogurt, KB Kasuals, Kriser’s Natural Pet, Pier 1 Imports, Starbucks, Venetian Nail Spa and Whole Foods Market. Other retails, including 18|8 Fine Men’s Salons, Macaron by Patisse and Willa Boutique, will open at Hughes Landing soon.
LAKEVIEW, ILL. — Centrum Partners LLC has broken ground on a five-story, 36-unit apartment building, Centrum Lakeview, located at 3400 N. Lincoln Ave. in Lakeview, a Chicago suburb. The project is slated for completion in 2016, and the 40,000-square-foot building will offer one- and two-bedroom apartments ranging from 535 to 1,036 square feet. Unit amenities include floor-to-ceiling windows, modern kitchens and upgraded bathrooms. Community amenities include a fitness room, billiard room, secure bike storage, same-day dry cleaning and package storage. The complex will have 6,000 square feet of retail space on the first floor. The property is located adjacent to the ‘L’ Brown Line stop at Paulina. All building materials have been sourced locally, and Centrum has plans to add a green roof, electric car charging station and a recycling program. Centrum acquired the property from KF Lakeview LLC in 2014. The building was vacant at the time of sale. Centrum Lakeview is one of the first developments approved under the city’s 2013-revised TOD (Transit Oriented Development) ordinance.
HOUSTON — Thor Equities has secured construction financing for Kirby Collection, a new mixed-use development at 3200 Kirby Drive in Houston. The 1 million-square-foot residential, office, retail and entertainment development is located in the River Oaks neighborhood of Houston, bounded by Kirby Drive and West Main, Colquitt and Lake streets. The project features a 25-story, 385,000-square-foot residential tower with 199 apartments comprising seven two-story townhomes and seven two-story loft spaces with private yards. The residences will overlook a deck with more than an acre of landscaped amenities, including a pool with cabanas, fire pits and a bar area. Kirby Collection’s 13-story, 210,000-square-foot, Class A office building is located near downtown Houston, the Galleria/Uptown District, Greenway Plaza and the Texas Medical Center. The development is scheduled to break ground in October and open in the fourth quarter of 2017. Richard Keating is the design architect for Kirby Collection, and Dianna Wong Architecture + Design is the interior designer. Houston-based Kirksey is the architect of record.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 741 Fulton St. in Brooklyn. BBD Enterprises sold the 2,600-square-foot property, which features multifamily and retail space, for $2.3 million. Dwane Omar Jones represented the seller and the buyer, a local private investment partnership, in the transaction.
LITTLE ELM, TEXAS — Victory Real Estate Group, a commercial development and investment firm based in Dallas, has begun construction on a seven-acre tract located on the east side of FM 423, just south of Little Elm Parkway between Eldorado Parkway and FM 720/Main Street. The site will house Victory at Creekside, a mixed-use retail development that will include six pad sites, along with a 6,000-square-foot retail center. Victory anticipates completion of Victory at Creekside by the end of this year. The new retail center is 100 percent leased to tenants such as Fast Lane Car Wash, Jack in the Box, Taco Villa and Kiddie Academy Child Care.
ST. PAUL — The Opus Group has broken ground on a six-story, mixed-use luxury apartment and retail development located on West Seventh Street in St. Paul. The redevelopment replaces an 80-year-old former Seven Corners Hardware store as well as an adjacent church. Demolition work has already occurred. The property will include a combination of 191 studio, one- and two-bedroom units and three-bedroom townhouse-style residences, as well as 11,500 square feet of ground-level retail space. The residential development will include an outdoor courtyard featuring a pool, hot tub, bocce ball and grill areas, as well as a terrace-level patio and club room with river views. Opus Development Company LLC is the developer, Opus Design Build LLC is the design builder and Opus AE Group LLC is the architect and structural engineer. Elness Swenson Graham Architects Inc. is the design architect. The project is scheduled for completion in January 2017.
MINNEAPOLIS — Doran Construction has completed construction on Latitude 45, a luxury apartment building located at 301 Washington Ave. South for Alatus LLC. The building is 13 stories and contains 319 units, with 10,000 square feet of retail on the ground floor. The facility came in under budget and ahead of schedule. Alatus is a real estate developer with expertise in residential high-rise development, office redevelopment, parking management and single-family home redevelopment. The Doran Cos. offer commercial development, general contracting and management of multifamily residential and commercial properties.
NASHVILLE, TENN. — GBT Realty Corp. has acquired a one-acre site in Hillsboro Village, a historic Nashville neighborhood, from Regions Bank with plans to develop a $45 million mixed-use project. The site is located at the corner of 21st Avenue South and Wedgewood Avenue. The plans for the development, known as Village 21 at Regions Park, include 22,000 square feet of retail space and 101 Class A apartment residences. Regions Bank will operate a 3,800-square-foot bank branch in the retail portion, which will also include a two-story, 6,000-square-foot restaurant. Regions will occupy a temporary, on-site facility during construction, which is scheduled to wrap up in spring 2017. The multifamily portion of Village 21 will feature a courtyard deck that includes a pool, outdoor grilling area and fire pit. Other amenities will include a fitness center, yoga lawn, clubroom and surface and below-grade parking totaling 250 spaces. The development team includes EOA Architects, Yates Construction, Littlejohn Engineering and Waller Law Firm.
BEE CAVE, TEXAS — Work has begun on a 126,000-square-foot, mixed-used project in the Austin suburb of Bee Cave. The first phase of the project will consist of 46,000 square feet of retail space. Construction on the first phase is expected to last 10 months. Immediately following, a second phase will begin consisting of an 80,000-square-foot office condo concept available to buy or lease. Pathfinder PFP Retail LLC is developing the project, while Austin-based brokerage firm St. Croix Capital Advisors is handling the marketing and leasing. Jay Macliver with Construction Strategies Management Group, a sister company to the brokerage house, is overseeing construction of the development. Two retailers have signed on board; Pioneer Bank will have a 3,000-square-foot branch, pending regulatory approval. Also Serasana, a day spa, will occupy 3,500 square feet. Southstar Bank is the lender for Gateway to Falconhead, IE2 is the construction firm, Land Strategies is the land planner, Gary Shaw is the architect and Garrett Ihnen is the engineer.