HOUSTON — Several projects are complete or under way at Park 10, Wolff Companies’ 550-acre master-planned community located in the West Houston Energy Corridor. Along Park Row Boulevard, construction is advancing for four office projects. Woodcreek Development is working on The Reserve at Park 10, a 150,000-square-foot, Class A office building. Yancy Hausman recently completed a two-story, 32,000-square-foot headquarters building for Epic Energy. The National Association of Corrosion Engineers has also completed a two-story, 18,000-square-foot building on its existing campus. Finally, construction is under way for a new 66,000-square-foot building on Sercel’s 27-acre campus. Another project currently in the construction stage is a new $5.3 million fire station for the city of Houston. It is scheduled for completion in February 2010. Dallas-based Western International is also finalizing plans for the development of a 120-room Residence Inn by Marriott, which will be located at the corner of Barker-Cypress Road and Park Row. It will be situated near the new Medical Center – West, a 170-acre campus that will be the home to the west campuses of Texas Children’s Hospital and The Methodist Hospital. The $500 million first phase of the medical center is scheduled for completion in 2010. Finally, Moody National …
Mixed-Use
VACAVILLE, CALIF. — Westrust has acquired the assets of Nut Tree Associates, the master planner of Nut Tree and Nut Tree Family Park in Vacaville. Westrust is currently developing the 30-acre, 333,000-square-foot Nut Tree Retail hybrid lifestyle/community center that encompasses the legendary Nut Tree road stop. Westrust plans to relocate key elements of Family Park, including the Nut Tree train, carousel and historic ice cream structure, into the historic Hackberry tree area of the retail center. Construction of Nut Tree Plaza, the new amusement and entertainment venue, commenced in June with completion scheduled for early August. Nut Tree Associates currently owns, or has options to purchase, the remaining approximately 36 acres of the original 77-acre master planned project.
HOUSTON — Seven projects are currently under way at Interwood, Wolf Companies’ 440-acre master-planned business park located at the entry to Houston’s George Bush Intercontinental Airport, at the intersection of Beltway 8 and John F. Kennedy Boulevard. Three of the projects will be completed this summer. The first is Denver-based The Urban Group’s 62,000-square-foot, Class A office building, located at 15109 Heathrow Forest Pkwy. In addition, Austin-based Live Oak-Gottesman is wrapping up a 35,000-square-foot office building, located at the intersection of Interwood South and Heathrow Forest parkways, for the U.S. Customs & Border Control Protection Services. Finally, BRG Cornerstone Development will soon complete the first building for Weller Truck Parts. Construction of a second building for the company will begin this fall. Upon full completion, Weller will occupy approximately 42,000 square feet on its 4-acre site. The other four transactions have just started or will soon commence. First, Dallas-based Western International has broken ground for a 131-room Fairfield Inn & Suites hotel, which is scheduled for a fall completion. The company recently completed a 134-room TownePlace Suites hotel, also within Interwood. Boston-based Cabot Properties has purchased 23 acres of land, located at JFK Boulevard and Interwood South Parkway, for the …
MURFREESBORO, TENN. — Swanson Cos. has broken ground on the 158,113-square-foot Gateway Village mixed-use development in Murfreesboro. The LEED project will include retail, restaurant, residential and office space. Completion is expected during the first quarter of next year.
MCCLELLAN PARK, CALIF. — McClellan Park, a 3,000-acre mixed-use development in McClellan, has received a $95 million secured credit facility from Wells Fargo Bank. The facility was arranged with the participation of Bank of America, Safe Credit Union and River City Bank. The new facility is for up to a 5-year term and provides up to $95 million through a revolving line of credit. McClellan Park features an airport, a full-service hotel, a fitness facility, a rail system and dormitories, as well as office, industrial and retail space. The project, which is entitled for more than 16 million square feet of commercial, retail, office and residential buildings, consists of 8.5 million square feet of useable buildings and 500 acres of developable land.
NEW YORK CITY — CetraRuddy’s Hospitality Group has completed designs for CassaNY. Construction is currently underway on the 50-story independent hotel and condominium. Located at West 45th St. in Manhattan, New York City, the hotel will feature 57 residences and 166 hotel rooms and amenities such a world-class restaurant, a spa, a landscaped garden, a terrace, a lounge, and 24-hour concierge. CetraRuddy additionally serves as architect and is overseeing all construction for the project. The designs were completed in collaboration with Enrique Norten’s TEN Arquitectos. The project is anticipated to be complete in summer 2010.
FLOSSMOOR, ILL. — Rosemont, Ill.-based McShane Construction Co. has broken ground for a new mixed-use project in Flossmoor. Construction consists of a single-story, 15,116-square-foot building situated on 1.79 acres at 19801 Governors Highway. Upon completion, which is expected in February 2010, the building will contain a mix of retail, medical office and professional office space. Drs. Kung and Labana have already signed a lease for 7,000 square feet of space within the building, which is located near St. James Hospital, Ingalls Memorial Hospital and Advocate South Suburban Hospital. KLLM Architects is serving as project architect. Financing for the project is being provided by Old Plant Trail Community Bank.
FISHERS, IND. — Carmel, Ind.-based J.C. Hart Co. has purchased 13 acres of the 725-acre Saxony mixed-use property, located at 131st St. in Fishers. The company is starting construction thus summer for The District at Saxony, a 269-unit apartment project that will be located near a 20-acre lake. Construction is scheduled to take approximately 2 years. The planned rent is set from $675 to $1,425 per month. Saxony is a $1 billion project that, upon full build-out, will contain 1,300 residences, 1 million square feet of retail, and 3.5 million square feet of office and industrial space in a pedestrian-friendly environment.
ST. LOUIS – Paric Corp. is advancing renovations for a $6.9 million multi-use project located at 1818 Washington Ave. in St. Louis. The two-story, 59,000-square-foot building will include 39 loft-style apartments and 9,000 square feet of ground-floor retail space. Paric is also repairing and replacing the façade, windows and storefronts, as well as adding new sidewalks, landscaping and pedestrian lighting. The owner is 1818 Washington Development LP, a partnership of local developers.
NEW YORK CITY — A partnership between Lincoln Equities Group and an affiliate of Grosvenor Investment Management has taken the first steps toward the creation of a new waterfront multifamily and retail project in the Astoria neighborhood of Queens, New York City. The partnership has submitted an application to begin the city’s uniform land use review process, which if successful, would re-zone an industrial area located along the East River known as Halletts Point for residential and commercial use. The new multi-use community would contain 2,000 units of market-rate housing, 500 units of affordable housing, a waterfront park, a neighborhood supermarket, additional retail and restaurants. The project would consist of seven buildings averaging 32 stories in height. The Halletts Point area, which is situated at the intersection of First Street and 26th Avenue, presently contains mostly vacant industrial buildings and storage yards, and is zoned for manufacturing use. Lincoln is developing the project, with GIM PA Partners LP, the Grosvenor affiliate, serving as capital partner. The project was master-planned by Studio V.