Mixed-Use

Toro Signs 11 Tenants to Medley Mixed-Use Development Underway in Metro Atlanta

by John Nelson May 18, 2023

JOHNS CREEK, GA. — Toro Development Co. (TDC) has announced leases with 11 tenants at Medley, a mixed-use project currently underway in Johns Creek, roughly 30 miles northeast of Atlanta. Upon completion, the development will include 200,000 square feet of retail, restaurant and entertainment space, as well as 900 residential units and 110,000 square feet of office space. The committed tenants include Little Rey (a concept by Atlanta-based chef and restaurateur Ford Fry), CRÚ Food & Wine Bar, AYA Medical Spa, Fadó Irish Pub, BODY20, Lily Sushi Bar, Lucciano’s Gelato, Sugarcoat Beauty, Summit Coffee, Knuckies Hoagies and Cookie Fix. Len Erickson and Kaitlyn Theriot of Franklin Street handle retail leasing at Medley, and Bryan Heller of Stream Realty Partners handles office leasing. The design-build team includes architect Nelson Worldwide, engineer firm Kimley-Horn and landscape architect Site Solutions. Demolition of a 350,000-square-foot office building is currently underway at the site. TDC plans to break ground on Medley before the end of the year.

May 18, 2023

Development Maryland Mixed-Use Retail Southeast

WRS Rezones 100 Acres at Lakeforest Mall in Gaithersburg, Maryland for Mixed-Use Village

by John Nelson May 17, 2023

GAITHERSBURG, MD. — WRS Real Estate Investments, a retail and mixed-use owner-operator based in Mount Pleasant, S.C., has successfully rezoned a 100-acre site in Gaithersburg that houses Lakeforest Mall. The Gaithersburg City Council approved the rezoning of the site to mixed-use in a 5-0 vote and also approved the sketch plan of the future development. Gensler has been engaged to lead the creation of overall design guidelines for the project. WRS purchased the core of the 1.1 million-square-foot regional mall in 2019. On a single day in 2022, the developer purchased the mall’s remaining department stores: J.C. Penney, Lord & Taylor, Sears and Macy’s. The plan calls for WRS to redevelop Lakeforest Mall as a mixed-use village comprising up to 1,600 new residential units — a mix of for-sale and rental units — and up to 1.25 million square feet of commercial uses such as retail, restaurant, dining, hospitality and life sciences. Construction may commence as early as 2024, according to WRS.

May 17, 2023

Development Georgia Hospitality Mixed-Use Multifamily Restaurant Retail Southeast

Edens to Redevelop North DeKalb Mall in Decatur, Georgia to 2.5 MSF Mixed-Use Development

by John Nelson May 16, 2023

DECATUR, GA. — Edens plans to transform North DeKalb Mall, an enclosed regional shopping mall in the Atlanta suburb of Decatur, into a 2.5 million-square-foot mixed-use development called Lulah Hills. Edens acquired the 622,297-square-foot mall in 2021 and rezoned the 73-acre site in 2022 to allow for mixed-use development. At its full build-out, Lulah Hills will feature 320,000 square feet of retail and restaurant space, 1,700 multifamily units, 100 townhomes, a 150-room hotel and a Path Foundation trail connection to nearby Emory University. North DeKalb Mall opened in 1965 and served as the first fully enclosed mall in metro Atlanta. Demolition of the mall is expected to begin later this year, with initial phases of the project to be completed by 2025. Edens owns and operates 1.5 million square feet of retail space in metro Atlanta, including Toco Hills, Merchants Walk, Andrews Square, Buckhead Marketplace, Moores Mill and Park Place.

May 16, 2023

Development Mixed-Use Texas Top Stories

Ashlar Development Breaks Ground on $800M Whitecap NPI Master-Planned Community in Corpus Christi

by Kristin Harlow May 10, 2023

CORPUS CHRISTI, TEXAS — Developer Ashlar Development LLC and owner Diamond Beach Holdings LLC have broken ground on Whitecap NPI, an $800 million master-planned community on North Padre Island in Corpus Christi. The 240-acre development will serve as the first and only coastal luxury residential and resort destination on the island, according to the development team. Upon full build-out, Whitecap NPI will feature over 600 residential options, including single-family homes, villas, condos and cross-generational housing. The homes, many with canal access for boating and water sports, will be situated in island enclaves. Bridges, boardwalks and walking paths will connect the homes to the rest of the community. A public town center and mixed-use area will provide a variety of dining, entertainment and retail options. Plans also call for a resort-style hotel, dry stack marina, yacht club, cafés, shops, galleries, markets and the Whitecap Nature Preserve. “Whitecap sets a new standard for coastal living,” says Steve Yetts, president of Ashlar Development. “The focus is on building up, not out, and enhancing the feel of community through both canal- and street-level experiences.” The project team includes PLACE Designers Inc. as residential architect, Turner Ramirez Architects for amenity and commercial architecture, Cadence as …

May 10, 2023

Arizona Development Industrial Mixed-Use Western

Greystar Breaks Ground on Phase I of Peoria Place Mixed-Use Property in Peoria, Arizona

by Jeff Shaw May 9, 2023

PEORIA, ARIZ. — Greystar has broken ground on Peoria Place, a $500 million, mixed-use, master-planned project in Peoria. The first phase is a three-building, Class A industrial park that will be known as Caliber by Greystar. At build-out, Caliber will total 411,918 square feet of Class A product broken down as a 114,446-square-foot Building A, 122,863-square-foot Building B and 174,609-square-foot Building C. Buildings A and B will offer divisibility to serve a diversity of uses and tenant sizes. Peoria Place will eventually include luxury apartments, build-to-rent single-family homes, residential over retail, 20 acres of open space and the Caliber light industrial park, which is slated for completion in the second quarter of 2024. JLL serves as the project’s exclusive leasing broker.

May 9, 2023

Development Mixed-Use Texas

Developer Unveils Plans for 348-Acre Adelton Master-Planned Community in Bastrop, Texas

by Taylor Williams May 8, 2023

BASTROP, TEXAS — West Bastrop Village Ltd., an entity backed by Austin-based developer Benchmark Land Development Inc., has unveiled plans for Adelton, a 348-unit master-planned community in Bastrop, about 30 miles east of Austin. Adelton will be constructed in phases and will ultimately feature 1,200 residential units, 125,000 square feet of commercial space, four miles of trails and 50 acres of parks, greenbelts and other communal outdoor spaces. Amenities will include a pool, beer garden-style outdoor pavilion, playground and a sports court. Single-family homebuilders David Weekley Homes and Empire Communities are underway on the residential component of the project and building two-, three- and four-bedroom homes that range in size from 1,400 to 2,800 square feet. The first move-ins will begin this summer.

May 8, 2023

Development Florida Loans Mixed-Use Southeast

Office America, Avanti Receive $31.5M Construction Financing for Mixed-Use Project in South Florida

by John Nelson May 8, 2023

LAKE WORTH BEACH, FLA. — Office America Group and Avanti Way Group have received $31.5 million in construction financing for the development of Deco Green, a mixed-use project located at 1715 N. Dixie Highway in Lake Worth Beach. Designed by Martin Architectural Group, the development in Palm Beach County will span 125,000 square feet and comprise 125 residential units, 8,000 square feet of office and retail space and roughly 20,000 square feet of green space. Construction is scheduled to begin in late 2024.

May 8, 2023

Acquisitions Georgia Mixed-Use Southeast

Armada Hoffler Agrees to Acquire Commercial Portion of The Interlock in Atlanta for $215M

by John Nelson May 5, 2023

ATLANTA — Armada Hoffler has entered into a purchase agreement to acquire the commercial portion of The Interlock, a nine-acre mixed-use development in Atlanta’s West Midtown district. The seller and developer, locally based SJC Ventures, has agreed to sell about 311,000 square feet of office and retail space at The Interlock for $215 million. Armada Hoffler served as the general contractor for The Interlock. The acquisition includes offices anchored by Georgia Advanced Technology Ventures, a cooperative organization of nearby Georgia Tech, as well as retail space leased to Puttshack and Velvet Taco, among other tenants. The acquisition also includes an 835-space parking garage and Rooftop L.O.A., a 38,000-square-foot rooftop destination that includes a full-service restaurant, indoor and outdoor bars, an event pavilion and swimming pool. The commercial portion of The Interlock is currently 89 percent leased, with another 6 percent of space spoken for. Not included in the sale is the 161-room Bellyard hotel or the project’s multifamily or student housings components. Armada Hoffler plans to fund the acquisition using $100 million of new fixed-rate financing, the conversion of its existing mezzanine loan into equity and the issuance of units of limited partnership interest in the company’s operating partnership to …

May 5, 2023

Development Florida Hospitality Mixed-Use Office Restaurant Retail Southeast Top Stories

Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida

by John Nelson May 5, 2023

POMPANO BEACH, FLA. — The Cordish Cos. and Caesars Entertainment Inc. (NASDAQ: CZR) are co-developing The Pomp, a 223-acre mixed-use development in Pompano Beach. The property’s name pays homage to the former Pompano Park racetrack on the project site, which is located 35 miles north of Miami and 10 miles north of Fort Lauderdale. Upon completion, The Pomp will feature 1.3 million square feet of retail and entertainment space, as well as 4,000 residential units, two hotels and approximately 1.4 million square feet of office space. The project will include the existing Harrah’s Pompano Beach casino, which is owned by Caesars. Cordish’s Live! brand will anchor the development’s entertainment and dining component. Called Live! at The Pomp, the brand will offer more than 25,000 square feet of food-and-beverage venues, including a Sports & Social and PBR Cowboy Bar. Sports & Social will occupy a 18,000-square-foot space with features such as an LED media wall, emcees and DJs, live fan-cams, competitions and games. The 7,000-square-foot PBR Cowboy Bar will offer music, bars and a mechanical bull. The venues will open into a central plaza that will host live music, family-friendly events, cultural celebrations, festivals, social activities and experiences and additional dining options. “It’s …

May 5, 2023

Development Georgia Mixed-Use Retail Southeast

NAP, Nuveen Break Ground on Mixed-Use Redevelopment of Forum Peachtree Corners in Metro Atlanta

by John Nelson May 4, 2023

PEACHTREE CORNERS, GA. — North American Properties (NAP), a mixed-use developer and owner based in Cincinnati, has partnered with Nuveen Real Estate to begin the redevelopment of The Forum Peachtree Corners. The duo acquired the north-suburban Atlanta shopping center in March 2022 and are breaking ground on the project that will add a 125-room boutique hotel, 381 apartments, experiential retailers, eateries, structured parking and new public spaces to the site. In addition to these uses, the developers will implement concierge services and valet offerings to patrons. Prior to the groundbreaking, NAP and Nuveen rebranded the property (formerly known as The Forum on Peachtree Parkway) and invested in upgrades to maintenance, security and software, as well as rolled out an event calendar. The construction timeline was not disclosed, but the developers plan to deliver the redevelopment in phases, beginning with the retail- and pedestrian-focused upgrades.

May 4, 2023

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