Mixed-Use

Carmel Partners Opens 910-Unit VOX at Cumulus Apartments in Los Angeles

by Jeff Shaw June 20, 2023

LOS ANGELES — Carmel Partners has completed the development of VOX at Cumulus, a 14-acre mixed-use community on the site of the former Cumulus radio station towers in Los Angeles. VOX at Cumulus features 910 apartment and townhome units, including studios, one-, two- and three-bedroom floor plants. The property also offers 100,000 square feet of retail space anchored by a Whole Foods Market. The project development team also included TCA Architects (architects), DCI (structural engineering), AMPAM (plumbing), PSOMAS (civil), DFDA (mechanical), Seal Electric (electrical) and MLA (landscaping).

June 20, 2023

Development Hospitality Mixed-Use Office Oregon Restaurant Retail Top Stories Western

BPM to Open $600M Ritz Carlton Mixed-Use Tower in Downtown Portland in August

by John Nelson June 20, 2023

PORTLAND, ORE. — BPM Real Estate Group, a locally based and privately owned development and investment company, plans to open the Block 216 mixed-use tower in downtown Portland in August. Located at 900 SW Washington St., the tower will house The Ritz-Carlton, Portland hotel, the brand’s first in the Pacific Northwest. In addition to the 251-room hotel, the high-rise will include The Ritz-Carlton Residences (132 condos and penthouses across 15 floors), shops and 134,000 square feet of office space, as well as a food hall on the ground level known as FLOCK. Development costs for Block 216 are reportedly $600 million. “As one of the tallest towers in Portland, this development is a monumental signifier of the renewal and transformation in store for this city,” says Walter Bowen, founder and CEO of BPM. “We are pleased to contribute to Portland’s continued recovery and resurgence as one of the country’s leading business centers and gateway to the Pacific Northwest travel destination locations.” The Ritz-Carlton hotel’s amenities will include a spa, signature restaurant on the 20th floor, infinity-edge pool and a 4,000-square-foot fitness center, according to the hotel website. FLOCK, which will house nine BIPOC-owned (black, indigenous and people of color) vendors, is …

June 20, 2023

Development Massachusetts Mixed-Use Northeast Top Stories

Tishman Speyer Receives $750M in Construction Financing for Mixed-Use Project in Boston

by Taylor Williams June 19, 2023

BOSTON — New York City-based real estate giant Tishman Speyer has received $750 million in construction financing for Phase I of Harvard Enterprise Research Campus, a 900,000-square-foot mixed-use project that will be located in the Allston neighborhood of Boston. Phase I of the development will consist of two life sciences buildings totaling 440,000 square feet, a 343-unit apartment complex and a hotel, all of which will be developed on a nine-acre parcel. Tishman Speyer is developing the project in partnership with the Harvard Allston Land Co. The site is adjacent to the Harvard Business School and Harvard Science & Engineering Complex in Allston. Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, will oversee the development, operations and leasing of the life sciences component. Tishman Speyer will also develop a conference facility on behalf of Harvard University. Within the multifamily component, 25 percent of the units will be designated as affordable housing for households earning between 30 and 100 percent of the area median income. At full build-out, Enterprise Research Campus will also include retail and restaurant space, as well as two acres of open green space that will host farmers markets, live music and outdoor fitness classes. …

June 19, 2023

Development Leasing Activity Mixed-Use Office South Carolina Southeast

Lima One Capital to Lease 65,000 SF for Office Headquarters at Greenville County Square Development

by John Nelson June 16, 2023

GREENVILLE, S.C. — Real estate investment lender Lima One Capital has signed a 65,000-square-foot lease at RocaPoint’s Greenville County Square development in downtown Greenville. The move from 201 E. McBee Ave. represents a $51.4 million investment for the company, which will move its operations into a newly developed office building at the $1 billion mixed-use campus. The expansion, which will create a projected 300 jobs, is expected to be complete in 2025 and will more than double its current office footprint. The South Carolina Coordinating Council for Economic Development has approved job development credits related to the project and awarded a $500,000 grant to Greenville County to aid with the costs of site preparation and building construction. Other uses coming to Greenville County Square include Whole Foods Market and Perch Kitchen + Tap.

June 16, 2023

Leasing Activity Mixed-Use Office Restaurant Retail Southeast Tennessee

AJ Capital Signs Five New Tenants to Nashville Warehouse Co. Project

by John Nelson June 16, 2023

NASHVILLE, TENN. — Adventurous Journeys Capital Partners (AJ Capital) has signed five new tenants to Nashville Warehouse Co., a mixed-use campus located at the corner of 4th Avenue South and Chestnut Street in the Wedgewood-Houston neighborhood of Nashville. Eatery HERO will lease space beginning this August, and work-focused members club The Malin will open a 16,000-square-foot coworking space beginning this fall. Additionally, contractor Hensel Phelps, talent agency Trend Management and law firm Maynard Nexsen have signed office leases at the mass-timber property. Beginning in July, Hensel Phelps and Maynard Nexsen will occupy 11,220 square feet and 7,600 square feet, respectively. Trend Management will lease 6,800 square feet beginning in December. These leases bring the property—which features 200,000 square feet of office space, public pedestrian spaces, an acre of green space, onsite parking and a fitness center — to 91 percent occupancy.

June 16, 2023

Development District of Columbia Loans Mixed-Use Multifamily Retail Southeast

Tishman Speyer Obtains $150M Construction Loan for Mazza Gallerie Mall Redevelopment in D.C.

by John Nelson June 15, 2023

WASHINGTON, D.C. — Tishman Speyer has secured a $150 million construction loan to fund the mixed-use redevelopment of Mazza Gallerie, an obsolete, three-story shopping mall in Washington, D.C.’s Friendship Heights neighborhood. The mall closed its last store this past Christmas, according to local media reports. RBC Capital Markets provided the financing. The reimagined development will comprise 320 rental apartments and 90,000 square feet of retail space, including 20,000 square feet of new ground-level retail space fronting Wisconsin Avenue. Tishman Speyer will maintain the mall’s 70,000-square-foot retail concourse that will once again be anchored by T.J. Maxx. The redevelopment will also maintain over 800 parking spots across four below-grade levels. Demolition of the existing structure is underway, and completion of the residential portion and first wave of new retail openings is anticipated for 2025. The project’s design-build team includes general contractors Davis Construction and Smoot Construction and architects 3XN and Eric Colbert & Associates (architect of record).

June 15, 2023

Affordable Housing Civic Development Florida Mixed-Use Multifamily Southeast

HTG Breaks Ground on $100M Mixed-Use Development in Hollywood, Florida

by John Nelson June 15, 2023

HOLLYWOOD, FLA. — Housing Trust Group (HTG) has broken ground on University Station, a $100 million mixed-use development, in a public-private partnership with the City of Hollywood. The project will comprise 216 units of workforce housing, a 635-space parking garage, retail space and new home for Barry University College of Nursing and Health Services. All of University Station’s apartments will be reserved for individuals and families at various income thresholds, including 22, 30, 40, 60, 70 and 80 percent of the area median income (AMI), with rents ranging from $374 to $1,634. The three-building development will be situated on 2.5 acres of city-owned land next to the future Broward Commuter Rail (BCR) South Station. Funding sources include LIHTC equity from Raymond James and debt from Bank of America and National Housing Trust Fund. The State of Florida and Broward County also contributed debt and civic funds for the project. The development team includes Corwil Architects and general contractor ANF Group Inc. HSQ Group will serve as the civil engineer, BNI Engineers will serve as the structural engineer and RPJ Inc. Consulting Engineers will serve as the MEP engineer. B. Pila Design Studio will handle interior design, and Witkin Hults + …

June 15, 2023

Affordable Housing Development Mixed-Use Multifamily North Carolina Southeast

Beechwood Receives Approval for 43-Acre Residential Development in Chapel Hill, North Carolina

by John Nelson June 14, 2023

CHAPEL HILL, N.C. — Beechwood Carolinas, a subsidiary of The Beechwood Organization, has received approval from the Town of Chapel Hill to develop a 43-acre residential district on the city’s south side. Known as South Creek by Beechwood, the development will include market-rate and affordable housing apartments and townhomes, for-sale condominiums, 21,000 to 52,000 square feet of commercial and retail space and open gathering areas. Total housing units will total 815 residences, a vast majority of which will be condominiums. The development will be situated along the 15-501 corridor at 4511 S. Columbia St., about two miles south of University of North Carolina-Chapel Hill. Council members unanimously approved the site’s rezoning in early June. Beechwood Carolinas plans to break ground in late 2024 and anticipates first occupancy in 2025. The developer’s project partners include architectural firm FMK Architects and Lee Bowman of Legion Land & Development.

June 14, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs Perch Kitchen & Tap to Lease at $1B Greenville County Square Development

by John Nelson June 13, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed Perch Kitchen & Tap to open a restaurant and brewery at Greenville County Square, a $1 billion mixed-use development in Greenville. Perch Kitchen & Tap is the first committed food-and-beverage tenant and will join Whole Foods Market in the development’s first phase. Charleston-based Palmetto Brewing Co. is partnering with Perch to operate the restaurant’s brewery portion. Perch is based in Chicago and is part of the 4 Star Restaurant Group. The new restaurant and brewery will feature 7,200 square feet of indoor dining and kitchen space and a 2,100-square-foot outdoor patio. Additionally, the new 250,000-square-foot Greenville County administrative building is set to open soon at the development.

June 13, 2023

Development Florida Mixed-Use Office Southeast

Brand Atlantic, Wheelock Street Capital Complete Redevelopment of Office Building in Downtown West Palm Beach

by John Nelson June 13, 2023

WEST PALM BEACH, FLA. — Brand Atlantic Real Estate Partners and Wheelock Street Capital have completed the redevelopment of 111 Olive, a boutique office building in downtown West Palm Beach. The building is the first phase of Banyan & Olive, a Class A mixed-use development within the city’s Clematis Waterfront District. 111 Olive features newly renovated offices with 14-foot ceilings and pine timber wood ceilings. The building offers two 9,000-square feet suites and two 5,000-square feet suites, with one of the smaller suites fully built out for immediate move-in. Tenant amenities include a golf simulator lounge and clubroom seating; art installations throughout the main lobby, elevator lobby lounges and office corridors; shower cabana changing rooms with private lockers and towel service; dedicated parking at 300 Banyan garage with direct connection from the main lobby; concierge attendant at main lobby desk for security, guest registry, mail, package storage and tenant requests; and club-level amenities at 300 Banyan, featuring an indoor/outdoor fitness center, open-air lounge and reservable outdoor event space.

June 13, 2023

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