CANTON, GA. — Jeff Fuqua, president of St. Petersburg, Fla.-based The Sembler Co., has had his eye on Cherokee County, Ga., for a long time. As of the 2000 census, he says, the city was home to 57,634 people with an average income of more than $70,000. With numbers like those, Fuqua knew his 800,000-square-foot Canton Marketplace retail development would thrive. “Cherokee County has become one of the fastest-growing areas in Georgia,” he says. Fourteen tenants will soon open their doors at the $120 million Canton Marketplace, which is located off Exit 19 on Highway 20 in Canton. Bed Bath & Beyond, Best Buy, Books-A-Million, Dick’s Clothing and Sporting Goods, Kirkland’s, Kohl’s, Lowe’s Home Improvement Warehouse, PetsMart and T.J. Maxx will open throughout March and April. Chick-fil-A, SunTrust Bank and The Olive Garden have also taken up residence on outparcels. The idea for Canton Marketplace was hatched 6 years ago, an offshoot of the proposed 415-acre Canton Place. When completed, Canton Place will include residential properties, office space and a hospital. Breaking ground on Canton Marketplace was tough work, literally. “Every project we approach has a number of challenges,” he says. “Being at the edge of the mountains, we had …
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WEST BLOOMFIELD, MICH. — The $360 million Henry Ford West Bloomfield Hospital is nearing completion, and is scheduled to open to the public on March 15. The 730,000-square-foot, all-private room facility, which is attached to the existing Henry Ford Medical Center in West Bloomfield, is the first new hospital Henry Ford Health System has built since 1915. Of the 300 beds at the facility, 191 will open in March, with remaining beds scheduled to open in 2011. In order to ensure a quieter stay for patients, individual rooms do not share common walls or ceilings, which eliminates noise. Other amenities of the rooms include smart technology and space for patients’ families. Adding to the uniqueness of the hospital, a 16-bed inpatient unit has been designated for female patients only. Additionally, according to the president and CEO of the hospital, the facility will be the first to introduce patients to food menus that will contribute to the healing process, as well as integrated wellness programs designed to promote restoring, maintaining and improving health status. Henry Ford West Bloomfield Hospital will offer full-service medical and surgical services in orthopedics, obstetrics and gynecology, urology, neurosurgery and back surgery, pediatric urology, cardiovascular, women's health, …
ST. PAUL, MINN. — The University of St. Thomas Board of Trustees has approved construction of a $52 million athletic and recreation complex on the university’s main campus in St. Paul. Upon completion of the athletic facility, the university has plans to construct a $66 million student center on the same campus. “The construction jobs associated with a project of this scope come as good news to the local economy,” explains Jim Winterer, the new service director for the University of St. Thomas. “Beyond that, this is a project that is important to the long-term success of the university.” Construction of the Anderson Athletic and Recreation Complex will start in late May, with completion slated for fall 2010. The existing Shoenecker Arena, Coughlan Field House and Foley Theater will be demolished to make room for the 180,000-square-foot facility, which will be located east of St. Thomas’ football stadium. The three-level structure will include a 2,000-seat basketball and volleyball arena; an aquatic center containing an eight-lane, 25-meter swimming pool and diving area; and a new field house with a 200-meter track, locker rooms, meeting rooms, training rooms and other support facilities. Additionally, the west wing of the building will house a …
VIRGINIA BEACH, VA. — When DLH Sports opens its 230,000-square-foot DLH Sports Complex in September in Virginia Beach, it will mark the completion of a 5-year process. Long before the recession started affecting the lending markets and real estate projects across the country slowed to a crawl, officials were still straining to push the $18 million development forward. The reason? Location. Developers chose a perfect site situated near the 400-acre Airport Industrial Park, but the land had been previously used as a borrow pit. “That’s where they dig a big hole and borrow the soil to build roads,” says Robert Ruhl of the Virginia Beach Department of Economic Development. A decade ago, the gaping hole was filled with construction debris. “You had some stuff down there that probably wasn’t the most environmentally clean.” Plans for the complex were eventually pushed through, and DLH broke ground on the facility 8 months ago. Inside the property, two $1 million turf fields, two swimming pools and weight rooms for professional and amateur athletes will bring a diverse mix of sports players to the property. “There’ll be multi-level professional training going on along with non-professional athletes,” Ruhl says. He hints that the new complex …
DANVILLE, ILL. — Investment and development firm Howard & Mills Inc. and B&G Property Management are opening an office component within the Village Mall, which is located at 2917 N. Vermillion in Danville. The 78,000-square-foot office component, which has been named The Commons, will be situated in the vacant Steve & Barry’s corridor of the enclosed development. “Simply put, the center provides too much retail space for the market,” explains Jean Ramirez, vice president of retail operations for B&G Property Management. “By introducing an office component to the center, you create synergy between the retailers and the offices.” Essentially, The Commons will bring new customers to the existing retailers, and the office tenants will benefit from the retailers’ close proximity. Sears, Elder Bearman and County Market anchor the 545,000-square-foot mall, which also houses approximately 20 smaller retailers. Whether choosing where to eat lunch or trying to run errands, office tenants of the new mixed-use concept will benefit from the convenience that goes along with working close to retailers. Construction of the project is scheduled to begin when some prospective tenants have signed letters of intent. Although a general contractor has not been selected, according to Ramirez, the mall owner wants …
BRIDGEWATER, N.J. — New York City-based real estate investment trusts SL Green Realty Corp. and Gramercy Capital Corp. have sold their interests in a three-building office campus located at 55 Corporate Dr. in Bridgewater. The interests were acquired by another REIT, Inland American Real Estate Trust, for $230 million. The office property is situated on 149 acres at the intersection of interstates 78 and 287. The property was originally developed in 1987 for AT&T, which occupied it until 2005. Currently, the property is fully occupied by pharmaceutical company sanofi-aventis USA Inc. as its headquarters. “The existence of assumable debt for the property was one of the key ingredients in being able to transact in this environment,” said Gary Gabriel, executive vice president with Cushman & Wakefield’s Capital Markets Group and one of the brokers involved in the transaction. He adds that Inland’s strong position in this climate made it one of the few companies today that could come up with the capital to complete a transaction of this size. In addition to its headquarters campus, sanofi-aventis’ largest U.S. research center is located in Bridgewater, bringing its total amount of space within the city to several hundred thousand square feet. Gabriel, …
COLUMBUS, OHIO — This summer, the city of Columbus and Capitol South Community Urban Redevelopment Corp. are knocking down the City Center shopping mall in downtown Columbus to make way for Columbus Commons. Plans for the 8.9-acre project call for a mix of office and retail uses anchored by a city park. In December 2007, New York-based The Georgetown Company was selected by Capitol South to serve as the project’s development manager. MSI was retained as the land use planner for the multi-phased project. With the help of consultants from CB Richard Ellis and input from local community members, Capitol South decided that demolition was the best option for the site. “Our goals were to avoid excess costs and examine all possibilities for reuse of the building before considering demolition,” explains Amy Taylor, chief operating officer of Capitol South. “After looking at the site from many different perspectives, we found that attempting to reconfigure the current structure was vastly more expensive than simply starting over.” Demolition of the 1.2 million-square-foot mall is slated for completion in less than a year. By 2010, the site — which is located south of the Ohio Theater, the Fifth Third Center and the Hyatt …
LANSING, MICH. — The Michigan Economic Development Corp. (MEDC) has committed to helping 10 companies grow in Michigan, and has committed to backing four brownfield redevelopment projects in the state. The 14 projects are expected to generate more than $330 million in new investment in the state, as well as create and retain a total of 8,912 jobs. Eight of the largest planned projects include: • Monroe — Great Lakes Towers LLC is planning to invest an initial $19 million to locate its first manufacturing facility in Monroe. The company, which eventually plans to manufacture more than 500 wind towers each year, will create 290 jobs. The Michigan Economic Growth Authority (MEGA) has approved a $3.7 million state tax credit over 10 years. Additionally, the city of Monroe is considering an abatement and infrastructure improvements to the Port of Monroe for support. • Detroit — W Industries plans to invest $36 million to expand its metal fabrication operations in Detroit. The expansion, which is expected to create 943 jobs, will allow the auto supplier to diversify into the aerospace and defense sectors. The MEGA board has approved a state tax credit of $9.7 million over 10 years. Also, the city …
NEW YORK CITY — Related Cos. and the Metropolitan Transit Authority (MTA) have reached an agreement to delay the closing for New York City’s Hudson Yards mixed-use project for up to an additional year. The original deadline for the two parties to come to terms for the project was January 31. The agreement provides the MTA with a non-refundable, $8.6 million payment in exchange for the extension, of which up to half may be used to offset expenses incurred by the MTA, the city of New York and the developer regarding, principally, the continuation of the zoning and ULURP process. In a statement, Related cites the economic downturn and the collapse of the traditional commercial lending market as reasons the extension was needed. “Today’s agreement acknowledges current economic realities without derailing our partnership on this important site for New York’s future. The development team made their commitment to the project clear and this new understanding keeps us on the path to obtain the funding critically needed for the MTA’s current capital plan,” said Elliot Sander, executive director and CEO of the MTA, in a prepared statement. Hudson Yards will be located on 26 acres above the current site of the …
CARBONDALE, ILL. — A joint venture between Holland Construction Services and JE Dunn Construction has begun site development on an expansion and renovation of athletic facilities at Southern Illinois University-Carbondale (SIU-C). The centerpieces of the $83 million, multi-phased Saluki Way project are a 12,000-seat football stadium and the renovated 8,460-seat Saluki Arena basketball venue. In addition to the renovation, a 53,000-square-foot, two-story addition is planned for the northeast face of Saluki Arena. The $25.3 million football stadium will measure 37,000 square feet in size, and will house 12,000 fixed seats plus lawn seating. Designed by Image Architects Inc., the football stadium will feature concessions areas, as well as a press box and club area with eight private, enclosed luxury suites. Plans for the $29.9 million renovation of Saluki Arena call for new seating, improved accessibility in compliance with the Americans with Disabilities Act, a new scoreboard, new concession areas, additional restrooms and other fan amenities. The $11.5 million addition, which was designed by 360 Architecture, will become the main entrance for the arena, and will include its ticket office, football and basketball team facilities, an auditorium and administrative space. The project is being funded by public and private sources, with …