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CHICAGO — A change in height for two luxury residential towers in the Museum Park neighborhood of Central Station in Chicago has been approved by the planning commission. The first tower, Grant Park 3, will be a 73-story building. Permission was granted to raise the height from 620 to 790 feet. The second tower, Grant Park 4, will be an 83-story building. Permission was granted to raise its height from 750 to 900 feet. Central Station LLC, the joint venture of The Fogelson Companies and Forest City Enterprises, is developing project. Demand and an effort to strive for a sleek design contributed to the increase in height. “We are moving forward because our closings and traffic demonstrate there is still a strong demand for quality lakefront developments of this caliber,” said Gerald Fogelson of The Fogelson Companies. Approximately $420 million sales have closed or are projected to close in 2008 at Museum Park, a co-development of Central Station LLC and The Enterprise Companies. The towers will feature one-, two-, and three/four-bedroom units as well as penthouses. Chicago-based architectural firm, Papageorge Haymes LLC, designed both buildings. They will be located at the corner of East Roosevelt Road and South Indiana Avenue …

WACO, TEXAS — Construction has begun on Caterpillar’s 750,000-square-foot industrial parts and distribution center in Waco. Duke Realty Corp. is developing the project. The build-to-suit building will be situated on a 77-acre site that Caterpillar owns between Bagby Road and Gateway Boulevard. Duke will incorporate sustainable elements into the construction of the building so that Leadership in Energy and Environmental Design (LEED) certification can be obtained from the U.S. Green Building Council. The cross-docked building will measure 520 feet by 1,350 feet and will feature 32-foot ceiling heights, 35 dock doors, 50 feet by 50 feet bay spacing with 60 feet spacing at the dock doors and 15,725 square feet of office space. “We are pleased to be selected by Caterpillar to construct this facility,” said Teddy Peinado, regional vice president of construction with Duke. Dallas-based GSR Andrade is serving as architect. The project is scheduled for completion in early 2009.

MISSION VALLEY, CALIF. — Behringer Harvard Opportunity REIT I, Inc. has acquired Crossroads Office Park in Mission Valley from an undisclosed seller. The seven-story office building is located two miles northeast of San Diego International Airport and five miles north of downtown San Diego. The transaction amount was undisclosed. The property is situated on a 5-acre site and provides more than 139,000 square feet of space to a diverse list of tenants. Tenants benefit from a high parking ratio of 3.8 surface spaces per 1,000 square feet of rentable office space. The building has also earned an Energy Star rating from the Environmental Protection Agency. “We acquired this well-located, value-added asset at a significant discount to replacement cost. We believe this Energy Star-rated property provides us with an attractive opportunity to create value by stabilizing its occupancy and moving rents to market levels,” said Robert Behringer, founder and CEO with Behringer Harvard. Area attractions near the property include Mission Bay Park, Sea World, Qualcomm Stadium and Fashion Valley.

BRASELTON, GA. — Mitsubishi Digital Electronics America has signed an agreement to lease 365,000 square feet at Park 85 in Braselton. The building was the first to be constructed by Duke Realty Corp. within its 318-acre master-planned business park, and Mitsubishi will be its first tenant. The lease brings the 1 million-square-foot distribution building to full occupancy. “There’s fierce competition for tenants in the current market, so we are pleased to have partnered with a high-quality tenant such as Mitsubishi Digital Electronics America,” said Chris Brown, senior vice president with Duke Realty. “Park 85 at Braselton accommodates the distribution needs of companies like Mitsubishi.” The building is located at 625 Braselton Pkwy. near the Interstate 85 and Highway 52 interchange. Mitsubishi’s previous Braselton facility was located at 1001 Cherry Dr. It will use the new facility for distribution and repairs of televisions and other electronics. Mitsubishi was represented by Demetri Koutrouvelis, Laurent Myers and Adam Singer of Studley’s Washington, D.C. office, along with Ted Haley of Studley’s Atlanta office. Duke Realty was represented in-house by Brian Sutton. Mitsubishi plans to relocate to the new facility in July.

STATESBORO, GA. — Georgia Southern University has broken ground on a 1,000-bed residence hall located in Statesboro. Centennial Place will be a 377,000-square-foot project and will house a variety of students, not only freshman, said Vicki Hawkins, director of University Housing. “We’ll have a mix of students in this residence hall,” said Vicki Hawkins, director of University Housing. “The building will feature a variety of room types, from two-bed rooms to super-suites with individual bedrooms and shared living and kitchen space. And the best part: no more than two students to a bathroom,” Hawkins said. In addition to living space, students will have computer labs and classrooms, a multi-purpose room with a kitchen, and recreational areas with computer games, table tennis, pool tables, and other amenities designed to bring them out of their rooms. Retail shops and a food court will also be included in the facility. Centennial Place will be staffed by two full-time residence hall directors, and 33 resident assistants will be appointed to oversee programming for students living. “Some of the students living in Centennial Place will be grouped by major or interest,” said Hawkins. “With a gathering space on every floor, students will be able to …

AUSTIN, TEXAS — In what will be Austin’s largest redevelopment project in history, the partnership of Trammell Crow Co., Constructive Ventures and USAA Real Estate Co. have been chosen to redevelop 2.6 million square feet of space downtown. The partnership was selected to spearhead the redevelopment of the Green Water Treatment Plant and the adjoining Austin Energy Control Center sites. Spanning six acres and five blocks, the project will include condos, apartments, offices, and retail space. Plans also call for a senior living facility, a boutique hotel and more than 5,000 parking spaces. LEED Gold status will be sought on all buildings. The partnership also proposes to make 25 percent of rental units affordable to families at 80 percent median family income and will donate approximately $2.5 million to the City’s Affordable Housing Trust Fund. Managing Director of Trammell Crow Austin, Lance Sallis, said the project will take Austin to a new level. “We are honored to have been selected by the City to lead this historic project, which will clearly change the face of downtown Austin,” Sallis said. We will work collaboratively with the City, our partners and the community to transform these sites into a dynamic new residential, …