development1 Archives - REBusinessOnline

Hillwood to Develop 766,994 SF Industrial Project at AllianceTexas in North Fort Worth

Taylor Williams — Tue, 07 May 2024 14:39:01 +0000

FORT WORTH, TEXAS — Hillwood will develop Alliance Westport 14, a 766,994-square-foot industrial project that will be located within the 27,000-acre AllianceTexas master-planned community in North Fort Worth. Alliance Westport 14 will feature 40-foot clear heights, 185-foot truck court depths and parking for 306 cars and 196 trailers (expandable to 500 or 312, respectively). GSR Andrade is the project architect, and Hillwood Construction Services is the general contractor. Frost Bank provided construction financing. The groundbreaking is set for June, and completion is slated for the second quarter of 2025.

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DWREI, GreenBarn Begin 1.8 MSF Office Redevelopment Project Near Philadelphia

Taylor Williams — Mon, 06 May 2024 15:15:00 +0000

COLLEGEVILLE, PA. — A partnership between David Werner Real Estate Investments (DWREI) and GreenBarn Investment Group has begun the redevelopment of The Bridge at Collegeville, a 14-building, 1.8 million-square-foot office campus located about 20 miles northwest of Philadelphia. The development team, which includes architect EwingCole and leasing agent Cushman & Wakefield, plans to renovate the existing office space on the 340-acre campus and to add another 1.4 million square feet of office, life sciences and manufacturing space. The redevelopment will also add amenities such as a fitness center, golf simulator, pickleball courts and a food truck plaza. The partnership purchased the property in August 2023 from Pfizer, which remains a tenant. In addition, chemical manufacturer Dow recently signed a long-term lease extension at the campus. A timeline for completion was not disclosed.

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Extell Development Tops Out 30-Story Medical Office Project on Manhattan’s Upper East Side

Taylor Williams — Thu, 02 May 2024 14:52:17 +0000

NEW YORK CITY — Locally based firm Extell Development Co. has topped out a 30-story, 435,000-square-foot medical office project at 1520 First Ave. on Manhattan’s Upper East Side. Designed by Perkins Eastman Architects, the building will occupy a full city block between East 79th and East 80th streets and house ambulatory care and surgical facilities. Additional building features will include multiple outdoor terraces and mechanical systems to enhance comfort and energy efficiency, as well as ground-floor retail space. The Hospital for Special Surgery (HSS) has preleased eight floors totaling 195,580 square feet to serve as the facility’s anchor tenant. HSS will house orthopedic and rheumatology physician’s offices, as well as ancillary services for treatment of musculoskeletal conditions. Newmark has been tapped to lease the remainder of the space. Lendlease provided preconstruction management services for the project, full completion of which is slated for the second quarter of 2025.

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VanTrust Real Estate Unveils Plans for Next Phase of Frisco Station Mixed-Use Development

Taylor Williams — Wed, 01 May 2024 16:10:24 +0000

FRISCO, TEXAS — Kansas City-based developer VanTrust Real Estate has unveiled plans for the next phase of Frisco Station, a 242-acre mixed-use development located on the northern outskirts of Dallas. Dubbed The Towers at Frisco Station, the next phase will consist of office, hotel, retail and restaurant uses that could total as much as 3 million square feet across five buildings. Entertainment concepts Pickle & Social and Fairway Social have already committed to the latest phase. Frisco Station, which was launched in 2015, currently features 700,000 square feet of Class A office space, 955 mid- and high-rise multifamily units and 450 hotel rooms, as well as a 30-acre park and trail system. Construction timelines for the latest phase are still being finalized.

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Rosewood Breaks Ground on 359-Unit Multifamily Project in San Antonio

Taylor Williams — Wed, 01 May 2024 15:58:46 +0000

SAN ANTONIO — Dallas-based Rosewood Property Co. has broken ground on Phase III of Tobin Estates, a 359-unit multifamily project located in the Alamo Heights area of San Antonio. In addition to the 265 apartments that will be housed in a four-story wraparound buildings, Phase III will feature 94 units with private garages within two four-story buildings. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, indoor and outdoor fitness centers, resident lounge and a rooftop deck. Project partners included Provident General Contractors, WDG Architecture, civil engineer Westwood and construction lender InterBank. Construction is expected to last about two years. Phase II of Tobin Estates totaled 311 units, and Phase I totaled 286 units.

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KRE Group Begins 345,152 SF Industrial Redevelopment in Ewing, New Jersey

Taylor Williams — Tue, 30 Apr 2024 13:29:53 +0000

EWING, N.J. — Locally based developer KRE Group has begun a 345,152-square-foot industrial redevelopment in the Northern New Jersey community of Ewing. The project will convert the 26.3-acre site of a decommissioned former naval air propulsion center into a single-story, 285,152-square-foot warehouse and three standalone flex buildings of 20,000 square feet each. The development team will also undertake various infrastructural improvements, including upgraded landscaping and lighting, the addition of a new bus stop, surface parking lots and walking trail, and enhancements to the surrounding roadways. The U.S. Navy operated the site as a vital jet engine test facility from 1951 until 1997, and a redevelopment plan for the site was introduced in 2013. A tentative completion date for the project was not disclosed.

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Joint Venture to Develop 873-Bed Student Housing Community Near Texas A&M University

Taylor Williams — Mon, 29 Apr 2024 14:41:09 +0000

COLLEGE STATION, TEXAS — A joint venture between Harrison Street, The Dinerstein Cos. and Up Campus Student Living will develop an 873-bed student housing community near the Texas A&M University campus in College Station. Dubbed Aspire A&M, the community will be situated within the city’s Northgate neighborhood and will rise 19 stories. The property will include 11,000 square feet of ground-floor retail space and a 718-space parking garage. Shared amenities will include two rooftop pools, fitness facilities, study rooms, a theater and game lounge. The community is expected to be complete in advance of the 2026-2027 academic year.

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GTIS Partners Breaks Ground on 272,160 SF Industrial Project Near DFW Airport

Taylor Williams — Mon, 29 Apr 2024 14:33:34 +0000

GRAPEVINE, TEXAS — New York City-based development and investment firm GTIS Partners has broken ground on 121 Commerce Center, a 272,160-square-foot industrial project located near Dallas-Fort Worth International Airport in Grapevine. The site spans 17 acres, and the facility will feature 36-foot clear heights, 135-foot truck court depths, an ESFR sprinkler system and build-to-suit office space. Construction is scheduled to be complete before the end of the year. Stream Realty Partners has been appointed as the leasing agent. First Citizens Bank provided $24.5 million in financing for the project.

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Hobbs Brook Breaks Ground on 320,000 SF Office, Life Sciences Project in Norwood, Massachusetts

Taylor Williams — Mon, 29 Apr 2024 13:56:29 +0000

NORWOOD, MASS. — Hobbs Brook Real Estate has broken ground on a 320,000-square-foot office and life sciences project in Norwood, a southern suburb of Boston, that is a build-to-suit for commercial property insurance company FM Global. The project will replace a 1950s-era building with a four-story office, lab and research and development building, as well as add a new 930-space parking garage and outdoor amenity spaces. Payette is the project architect, and Shawmut Design & Construction is the general contractor. Completion is slated for 2026.

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Vigavi, Principal Asset Management Break Ground on 728,080 SF Industrial Project in North Houston

Taylor Williams — Thu, 25 Apr 2024 14:27:00 +0000

HOUSTON — A joint venture between locally based developer Vigavi and Principal Asset Management has broken ground on Westpoint 45, a 728,080-square-foot industrial project in North Houston. The 42-acre site at 410 West Road is located near the intersection of I-45 and Beltway 8, and the development will feature 40-foot clear heights, speculative office space and 180 trailer parking stalls. Seeberger Architecture is designing the project, and Angler Construction is serving as the general contractor. JLL will market the property for lease. Delivery is slated for early 2025.

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Realty Capital Residential Completes 275-Unit Multifamily Project in Burleson, Texas

Taylor Williams — Thu, 25 Apr 2024 14:22:00 +0000

BURLESON, TEXAS — Locally based developer Realty Capital Residential has completed Depot on Main, a 275-unit multifamily project in Burleson, located south of Fort Worth. The five-story building is situated adjacent to the city’s Old Town district at 125 N. Main St. Depot on Main offers one- and two-bedroom units ranging in size from 590 to 1,229 square feet. Amenities include a pool with a tanning deck, coworking lounge, coffee bar, rooftop deck and entertainment terrace, dog park, fitness center and outdoor grilling and dining areas. Monthly rental rates range from $1,325 to $2,260, according to Apartments.com. Merriman Anderson Architects designed the project.

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Alterman Debuts 190,000 SF Headquarters Campus in Live Oak, Texas

Taylor Williams — Tue, 23 Apr 2024 13:17:45 +0000

LIVE OAK, TEXAS — Texas-based electrical contractor Alterman has debuted its new 190,000 square-foot first headquarters campus in the northeastern San Antonio suburb of Live Oak. The 20-acre site is located at intersection of Loop 1604 and I-35, and the campus consists of a 100,000-square-foot logistics and manufacturing building and a 90,000-square-foot office building. Studio8 Architects designed the campus, and Whiting-Turner Construction served as the general contractor. Construction began in fall 2022.

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Gettys Group Completes $50M Hotel Renovation in Downtown Fort Worth

Taylor Williams — Mon, 22 Apr 2024 15:56:03 +0000

FORT WORTH, TEXAS — The Gettys Group Cos., a Chicago-based hotel design and development firm, has completed the $50 million renovation of the 403-room Sheraton Fort Worth Downtown Hotel. The hotel originally opened in 1974. The capital improvement program upgraded all the bedding, furniture and bathrooms of all guestrooms and expanded the number of suites from 25 to 37. In addition, the project team upgraded the entryway, lobby and amenity spaces, which include private and conference-style workspaces and 30,000 square feet of event space. Lastly, ownership introduced a revamped lineup of food-and-beverage offerings. Dallas-based HKS Architects designed the renovation, and an entity doing business as 1701 Commerce Acquisitions owns the hotel.

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Ryan Cos. Begins Leasing 347-Unit Oak House Apartments in Leander, Texas

Taylor Williams — Mon, 22 Apr 2024 15:44:19 +0000

LEANDER, TEXAS — Minneapolis-based developer Ryan Cos. has begun leasing Oak House Apartments, a 347-unit multifamily community located north of Austin in Leander. Oak House consists of 10 buildings that house one-, two- and three-bedroom units on a 20-acre site. Amenities include a pool, fitness center, outdoor grilling and dining areas, clubroom, coffee bar and a dog park. Ryan Cos. developed the property in a joint venture with Denver-based Brue Baukol Capital Partners. Dallas-based Humphreys & Partners Architects designed the project, and Cadence McShane Construction served as the general contractor. First Horizon Bank provided construction financing. Rents start at $1,300 per month for a one-bedroom apartment. The first move-ins will begin this summer.

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Partnership Begins Leasing 475-Unit Multifamily Project in Metro Boston

Taylor Williams — Mon, 22 Apr 2024 15:04:55 +0000

REVERE, MASS. — A partnership between National Real Estate Advisors, Cathexis and The HYM Investment Group has begun leasing Amaya, a 475-unit multifamily project located in the northeastern Boston suburb of Revere. Designed by ICON Architecture, the project is part of the redevelopment of the 161-acre former Suffolk Downs racetrack and houses 24,000 square feet of ground-floor retail space. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, landscaped courtyards, an outdoor kitchen with grilling stations, fitness center and a game room with an arcade. Ullico, a Washington, D.C.-based insurance company, financed construction of the project. Rents start at roughly $2,400 per month for a studio apartment.

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Logistics Property Co. to Develop 408,000 SF Industrial Project in Northeast Austin

Taylor Williams — Fri, 19 Apr 2024 15:24:13 +0000

AUSTIN, TEXAS — Chicago-based Logistics Property Co. will develop a two-building, 408,000-square-foot industrial project at 12821 Titanium St. in northeast Austin. The site is roughly one mile from State Highway 130 and 15 miles from the downtown area. The development will consist of a 175,000-square-foot rear-load building and a 233,000-square-foot cross-dock building. Construction is slated to begin in the second quarter and to last about a year. Locally based brokerage firm AQUILA Commercial will market the property for lease.

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McGrath Real Estate Completes 336-Unit Multifamily Project in Metro Houston

Taylor Williams — Fri, 19 Apr 2024 15:20:00 +0000

TOMBALL, TEXAS — Locally based developer McGrath Real Estate Partners has completed Adora on Rosehill, a 336-unit multifamily project located in the northeastern Houston suburb of Tomball. The site spans 15.4 acres, and the building houses one-, two- and three-bedroom units that range in size from 599 to 1,393 square feet. Residences are furnished with stainless steel appliances, granite countertops, custom cabinetry and individual washers and dryers. Amenities include a pool, business center, clubhouse, pickleball courts, outdoor lounge area and a dog park. Rents start at $1,350 per month for a one-bedroom apartment.

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NorthPoint Development Breaks Ground on 954,701 SF Industrial Project in Pilesgrove, New Jersey

Taylor Williams — Thu, 18 Apr 2024 13:45:00 +0000

PILESGROVE, N.J. — Missouri-based NorthPoint Development has broken ground on a 954,701-square-foot industrial project in the Southern New Jersey community of Pilesgrove. Designed by studioNorth Architecture and built by Peak Construction Corp., the project represents the fourth building in the Turnpike 1 Trade Center development. Building features will include a clear height of 40 feet, 96 docks, four drive-in doors, 2,000 square feet of office space and parking for 536 cars and 244 trailers. Completion is scheduled for the fourth quarter.

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HLCI to Develop 246,310 SF Industrial Project in Southeast Austin

Taylor Williams — Wed, 17 Apr 2024 15:24:44 +0000

AUSTIN, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop SouthPark 183, a 246,310-square-foot industrial project in Austin. The 19.1-acre site is located within an opportunity zone, approximately nine miles from downtown Austin and two miles from Austin-Bergstrom International Airport. HLCI acquired the land in December with plans to develop three shallow-bay buildings. Construction is scheduled to begin in the first quarter of next year.

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Marquis Completes Phase I of Renovations at 240-Bed Seniors Housing Property in Philadelphia

Taylor Williams — Wed, 17 Apr 2024 15:09:31 +0000

PHILADELPHIA — Marquis Health Consulting Services has completed Phase I of a renovation project at Roosevelt Rehabilitation & Healthcare Center in the Rhawnhurst neighborhood of Philadelphia. The 240-bed skilled nursing facility provides post-hospital care, short-term rehab and long-term residential care. A centerpiece of the renovation to date is the addition of a 3,600-square-foot rehab therapy gym and the incorporation of a spacious activities of daily living suite. Renovation highlights also include modernized dining area and lounges, as well as updates to resident rooms and nurses’ stations.

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