JERSEY CITY, N.J. — Toll Brothers City Living is set to begin construction on Provost Square within the Powerhouse Arts District in Jersey City. Bordered by Warren Street and Marin Boulevard, the mixed-use project will feature condominiums that will contain 32 units of workforce housing; a performing arts center with a 550-seat theater, exhibition space and 16,000 square feet of classrooms, studios and rehearsal space; a 25,000-square-foot arts-oriented public plaza; and 50,000 square feet of retail space that will include shops, cafes, galleries, other art-oriented uses and the entrance to the Performing Arts Center. Provost Square was designed by Carol R. Johnson Associates.
ORLANDO, FLA. — Houston-based RIDA Development Corp. has purchased the 5.6-acre Plaza site in downtown Orlando, from Weston, Fla.-based Downtown Plaza, for $15 million. The site will be redeveloped as a $250 million mixed-use project. The property is located at 400 N. Orange Ave. on a city block bordered by Orange Avenue, Amelia Street, Livingston Street and the Linx bus station near Interstate 4.
MESA, ARIZ. — DeBartolo Development has broken ground for the construction of Mountain Vista Marketplace in Mesa. The 114-acre, 1.3 million-square-foot mixed-use project will feature 700,000 square feet of retail space, 384 upscale apartment residences and two national-brand hotels. The more than 300,000-square-foot first phase is slated for completion in spring 2009. Currently signed tenants include SuperTarget, Marshalls, Petco, Bank of America, Dick’s Clothing and Sporting Goods, Cracker Barrel Old Country Store® restaurant and Shoe Carnival. CLC Associates provided architectural services for the project, while VCC USA served as general contractor.
POLK COUNTY, FLA.— Dallas-based Trammell Crow Company, in a joint venture with Boardwalk Land Development and Met Life, is developing Posner Park, a $500 million, 368-acre mixed-use development, located at the southeast corner of Interstate 4 and Highway 27 in Polk County. Posner Commons, an 80-acre, 630,000-square-foot retail tract, will feature several major tenants: Target, Books-A-Million, Belk, Best Buy, Staples, JC Penney, Dick’s Sporting Goods, Ross Dress For Less, Michaels and PetSmart. Retail stores are slated to open this spring and early fall. Posner Park is approved for 1.5 million square feet of retail, 1 million square feet of Class A office space, 2,600 hotel rooms and 2,000 multifamily residences. The project is expected to be completed in 2018.
DULUTH, GA. — Atlanta-based The NorthPoint Group is developing Point Berkeley III, a $22 million, 210,000-square-foot office and retail complex in Duluth, located along North Berkeley Road. The project will be comprised of two retail buildings featuring two stories and 35,000 square feet and an office building featuring seven stories and 140,000 square feet. Construction began in April and is slated to complete next May. Duluth-based Ordner Construction Co. is the general contractor, and the project architect is Atlanta-based Group Six Design. Point Berkeley I and II are adjacent to the new development.
CUMMING, GA. — Cousins Properties will open the first phase of The Avenue Forsyth, a $146 million, 527,000-square-foot mixed-use development in Cumming, next month. The project began construction on the first of two phases last January, which features 463,000 square feet and includes 64,000 square feet of office space. The development is comprised of more than 50 tenants, including: Aeropostale, Barnes & Noble, AMC Avenue Forsyth 12, DSW Shoe Warehouse, Ann Taylor Loft, Circuit City, CVS/Pharmacy, Ted’s Montana Grill, Natural Body Spa & Shop and Origins. Signed tenants and retailer commitments bring the first phase to 70 percent occupancy. Cousins also owns 39 acres adjacent to the property, which is planned for future expansion of the project. The project is located at the intersection of Georgia 400 and Peachtree Parkway.
LEESBURG, VA. — Sovereign Bank is the administrative agent for a $217 million construction loan provided by several national and local financial institutions for The Village at Leesburg, a mixed-use project being developed by Cypress Equities, Kettler and The Carlyle Group. The development is comprised of a 1.2-million-square-foot vertically integrated, four-story village with residential, retail, restaurant and office space. The open-air shopping center will feature a Wegmans Food Market. The development will be located at Route 7 and Crosstrail Boulevard, which will also be the site of a new $31 million interchange expected to open in July 2009. Cypress will develop the retail portion of the project, and Kettler will develop the office and residential components, including 335 luxury apartments. Construction is slated for completion in spring 2010.
MANASSAS, VA. —Rockville, Md.-based Opus East is developing Hastings Marketplace, a 29-acre multifamily and retail development located at the corner of Wellington Road, Liberia Avenue and Prince William Parkway in Manassas. The project will consist of 125,000 square feet of retail space, featuring more than 30 stores, and 141 residential units. Phase 1 is expected to deliver next spring and will include a Harris Teeter, bank, shops and restaurants. The project will be completed in two phases. Devin Corini of KLNB is the exclusive leasing agent for the development.
ATLANTA — Ponce Park, the $375 million, 2-million-square-foot redevelopment of Atlanta’s City Hall East/Sears building, will feature The Medici Center. Residents will be comprised of scholars, researchers and artists that will address the four academies of Health and Science, Sustainability and the Environment, Globalism and Cultural Understanding and the Arts and Humanities. The project is being developed by Lawrenceville, Ga.-based The Morsberger Group and Adams & Co. and will also include 182,000 square feet of retail, 154,000 square feet of office space and 1,100 residential units, in addition to 40 units for the physically disabled. Construction is slated to begin in second or third quarter 2009, and initial occupany is scheduled for 2011.
BOLINGBROOK, ILL. —Forest City Enterprises has announced that two new tenants will be coming to The Promenade Bolingbrook, the developer’s 736,000-square-foot lifestyle center located at the intersection of Interstate 355 and Boughton Road in Bolingbrook. Chesapeake, Va.-based hotel developer LTD Management Co. will begin construction this month for a 155-room aloft hotel. Guest lofts in the hotel will feature 9-foot ceilings, oversized windows and flat-panel, high-definition televisions. The hotel is scheduled to open in June 2009. Additionally, an eight-screen Village Roadshow Gold Class Cinema is also coming to The Promenade Bolingbrook. The theater will open on the second level of the center, and will include amenities such as custom reclining seats, VIP concierge and valet services, and a full-service bar and lounge that will serve customers at their seats.