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Mixed-Use

25-Cottage-St.-Jersey-City
DevelopmentMixed-UseNew JerseyNortheast

Nasser Freres Breaks Ground on $300M Mixed-Use Project in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Developer Nasser Freres has broken ground on a $300 million mixed-use project that will be located at 25 Cottage St. in the Journal Square neighborhood of Jersey City. Designed by Handel Architects with AJD Construction serving as the general contractor, the development will consist of 622 apartments, approximately 45,000 square feet of Class A office space and ground-floor retail space, all within a 28-story building. Units will come in studio, one-, two- and three-bedroom floor plans, and the building will feature a double-height lobby lounge with a reception area. Other amenities will include a relaxation zone and spa, an art gallery and studio, children’s playroom, karaoke room, pet spa, bowling alley, screening room, game lounge, speakeasy, VR sports room with arcade games and a catering kitchen. Residents will also have access to a coworking space with a lounge, private work pods and conference rooms, as well as fitness center, coffee bar, podcast/TikTok room and a party lounge. Lastly, a landscaped rooftop envisioned by Melillo Bauer Carman Landscape Architecture will feature a lounge with kitchen and dining areas, private grilling stations and a pool with a deck and loungers. Completion is slated for the first quarter of 2026.

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DevelopmentMixed-UseNew YorkNortheastOfficeRetailTop Stories

Ingka Investments Acquires Stake in Fifth Avenue Mixed-Use Tower Development in Manhattan, Now to Feature IKEA Store

by John Nelson

NEW YORK CITY — Ingka Investments, the investment arm of Ingka Group, which owns and operates a majority of IKEA stores globally, has purchased a one-third stake in the development of a 1 million-square-foot mixed-use tower underway in Manhattan. As part of the arrangement, IKEA will open a two-level store at the base of 570 Fifth Avenue, which will include a corner entrance along Fifth Avenue. Extell Development Co. is the master developer of 570 Fifth Avenue, which will feature Class A retail space and offices at the intersection of Manhattan’s Plaza and Grand Central districts. The project marks the largest development on Fifth Avenue in more than 60 years, according to Ingka Investments. “We have been working on assembling this project for almost two decades, and Ingka Investments’ substantial commitment allows us to move forward with the construction and leasing of the best new office building in New York,” says Gary Barnett, founder and chairman of Extell Development, which will retain a two-thirds ownership stake in the development. Ingka Investments’ stake in the tower includes the planned IKEA store. IKEA will open a “customer meeting point,” the retailer’s small-format store prototype, within the tower’s 80,000 square feet of planned …

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DevelopmentFloridaMixed-UseSoutheast

City of Jacksonville Approves Incentive Package, Rezoning for 8.3-Acre PHXJAX Mixed-Use Development

by John Nelson

JACKSONVILLE, FLA. — The Jacksonville City Council has approved a $5.5 million incentive package from the Office of Economic Development for Phoenix Arts & Innovation District (PHXJAX), an 8.3-acre mixed-use project currently underway by Future of Cities (FoC) in Jacksonville. Additionally, FoC received approval for rezoning to allow for commercial and multifamily residential uses. The developer has invested $38 million into the project. Upon completion, the development will comprise 10 separate properties, with creative office space, artist studios, galleries, event and gathering spaces and retail and restaurant space. The first phase of development began in December 2023 with the groundbreaking for Emerald Station. Construction is also underway on Liberty Building, which will total 17,850 square feet. The buildings are scheduled for completion in the third quarter of 2024 and second quarter of 2025, respectively. A nearby property at 2335 Market St. will serve as an outdoor market, offering green and community activity space, and PHXJAX will also include dedicated office space for the Jacksonville Small and Emerging Business (JSEB) organization. The City of Jacksonville has also authorized a 50 percent, 15-year recaptured enhanced value (REV) grant not to exceed $1.5 million for the project.

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The-RO-Houston
DevelopmentMixed-UseTexas

TDC Breaks Ground on 17-Acre Mixed-Use Project in West Houston

by Taylor Williams

HOUSTON — Transwestern Development Co. (TDC) has broken ground on The Ro, a 17-acre mixed-use project that will be located near the River Oaks district in West Houston. The Ro will be the future home of The Birdsall Hotel & Residences, which is part of the Auberge Resorts Collection family of brands. The development will also feature a retail village with local chef-driven restaurants, boutique concepts and service-oriented shops, as well as an apartment community and Class A office space. Completion is slated for 2027.

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53-West-Houston
DevelopmentMixed-UseTexas

Braun Enterprises Completes Redevelopment of Houston Mixed-Use Property

by Taylor Williams

OUSTON — Braun Enterprises has completed the redevelopment of 53 West, a mixed-use property in the city’s Uptown neighborhood that consists of 168,000 square feet of office space and 32,000 square feet of retail space on a four-acre site. The redevelopment began in 2019 and included renovating and painting the exterior façades, remodeling the office interiors and enhancing ground-level storefronts. Braun also upgraded the property’s walkable pathways, lighting, landscaping and outdoor seating areas. Interior enhancements include upgraded common areas, restrooms, lobbies and atriums. Lastly, the development team converted one of the two office towers connected by the ground-floor retail space into Urban Office, a proprietary flexible workspace concept with private offices and shared amenities. An 11-vendor food hall opened at 53 West earlier this year as part of the repositioning, and two additional retail concepts are expected to open later this year.

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LoansMixed-UseSoutheastTennessee

JLL Arranges $135M Refinancing for Cummins Station Mixed-Use Development in Nashville’s Gulch District

by John Nelson

NASHVILLE, TENN. — JLL has arranged a $135 million loan for the refinancing of Cummins Station, an adaptive reuse mixed-use development in Nashville’s Gulch district spanning 408,000 square feet. JLL arranged the five-year, fixed-rate loan on behalf of the borrower, DZL Management. Located at 209 10th Ave. S, Cummins Station features creative office spaces and 46,000 square feet of retail space. According to the property website, current office tenants include DZL, Gibson Brands, Serendipity Labs, Bohler, Unlock Health, Eventbrite, Revive and Wayspring. Retailers include Gibson Garage, Morning Glory Deli, Pullman Standard and Wild Wasabi. The brick property dates back to 1906.

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DevelopmentHospitalityMixed-UseMultifamilySoutheastVirginia

Capital Square Plans Multifamily, Hospitality Development in Scott’s Addition Neighborhood of Richmond

by John Nelson

RICHMOND, VA. — Capital Square has launched a new opportunity zone fund, with plans to develop a multifamily and hospitality property at 1600 Roseneath Road in Richmond. Plans for the 2.2-acre development include 220 apartment units and 100 apartment-hotel rooms. Dubbed CSRA Opportunity Zone Fund IX LLC, the fund aims to raise $77 million in equity from accredited investors to fund the project. This marks the ninth opportunity zone fund for Capital Square and its sixth development in the Scott’s Addition neighborhood of Richmond. The unnamed property will be situated within walking distance of several restaurants, breweries and attractions, including the Virginia Museum of Fine Arts, Science Museum of Virginia and Virginia Museum of History and Culture.

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645-681-N-Robertson-Blvd
CaliforniaDevelopmentHospitalityLoansMixed-UseRetailWestern

Priority Capital Advisory Arranges $35M Refinancing for Robertson Lane Mixed-Use Project in West Hollywood

by Amy Works

WEST HOLLYWOOD, CALIF. — Priority Capital Advisory has arranged $35 million in debt financing to refinance Faring’s planned Robertson Lane, a 400,000-square-foot retail and hotel project in West Hollywood. Centennial Bank provided the financing, which Zachary Streit of Priority Capital Advisory arranged. Located at 645-681 N. Robertson Blvd., the 84,506-square-foot development site is an assemblage of eight contiguous lots. The assembled site was originally entitled for a 10-story, 237-room hotel with dining, nightclub, entertainment and retail space, a rooftop pool and a three-level, 750-car underground parking garage. In 2022, the ownership submitted a revised plan for a 123-room luxury hotel and seven-story office tower over ground-floor retail space and a subterranean garage. Current plans include the adaptive reuse and rehabilitation of the Factory Building, a historical building dating to 1929.

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DevelopmentMidwestMixed-UseOfficeOhioTop Stories

Joint Venture Plans $100M Mixed-Use Redevelopment of Former Medical Mutual Headquarters in Downtown Cleveland  

by Kristin Harlow

CLEVELAND — Spark GHC and Cleveland Construction Inc. have formed a joint venture to redevelop a 400,000-square-foot office building in downtown Cleveland into mixed-use space. Dubbed Project Scarlet, the $100 million development involves the adaptive reuse of the Rose Building, which formerly served as the headquarters of insurance company Medical Mutual. The joint venture plans to transform the property into a boutique hotel with apartment units and ground-floor retail space. The project team says the development will not only breathe new life into a historic structure, but also address the evolving needs of the Cleveland community for contemporary living spaces and upscale hospitality offerings. Founded in 1934, Medical Mutual is the oldest and one of the largest health insurance companies based in Ohio. The Rose Building had served as the home of Medical Mutual since 1947, but the insurer announced in late 2022 that it would leave the downtown offices for its suburban headquarters in Brooklyn, Ohio, according to Cleveland.com. Since 2020, the Cleveland market has emptied nearly 2.4 million square feet of office space due to negative absorption, according to Newmark. The office vacancy rate increased to 23.4 percent in the first quarter of 2024, up 50 basis points …

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Firefly-Park-Frisco
Market ReportsMixed-UseTexasTexas Market Reports

Mixed-Use Developers in North Texas Prioritize Infrastructure

by Taylor Williams

By Taylor Williams If you build it, they will come — assuming “it” is equipped with the all the facilities, necessities and conveniences of 21st-century living.  As residents and consumers, it is remarkably easy to overlook the critical pieces of infrastructure that enable these necessities and conveniences. From the perspective of end users, these facilities and systems are not instrumental to the success of commercial and residential developments because they are taken for granted as minimal requirements for occupancy. Further, in many cases, the infrastructure is not visible to the naked eye.  Yet for developers, particularly those in high-growth regions like North Texas, infrastructure is anything but an afterthought.  “In the eyes of developers, infrastructure is a primary aspect of any project,” says Jack Turnage, development manager at Wildcatter Realty Partners, the developer behind The Greenbelt, a 325-acre mixed-use project in Hunt County. “Without that, the only way to navigate our site is on horseback.” Located in Greenville on the northeastern outskirts of Dallas, The Greenbelt is one of numerous large-scale mixed-use projects sprouting up in the region. Plans call for close to  1,000 single-family and multifamily units; several hundred thousand square feet of commercial space; numerous restaurant pad sites; …

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