development1

Floridays Development to Build 276-Room Hotel in East Austin

by Taylor Williams January 27, 2022

AUSTIN, TEXAS — Sarasota, Fla.-based Floridays Development will build a 276-room hotel in East Austin. Designed by FK Architecture, the project will include a pool and an 89,123-square-foot parking garage. Other project partners include landscape architect Blacksmith Collaborative, civil engineer WPI Inc. and structural engineer SCA Consulting. A tentative construction completion date was not released, but demolition work on the site’s existing structures is underway. The hotel operator was also not disclosed.

January 27, 2022

Development New York Northeast Office

Brookfield Properties Tops Out 58-Story Two Manhattan West Office Tower

by Taylor Williams January 27, 2022

NEW YORK CITY — Brookfield Properties has topped out Two Manhattan West, a 58-story office tower located within the eight-acre Manhattan West mixed-use development that opened last fall. Designed by Skidmore, Owings & Merrill, Two Manhattan West will feature more than 2 million square feet of office space upon completion, which is slated for 2023. The building is 25 percent preleased, with law firm Cravath, Swaine & Moore committed as an anchor tenant. Brookfield completed the 67-story, 2.1 million-square-foot One Manhattan West in late 2019.

January 27, 2022

Development Florida Industrial Southeast

Amazon to Open 220,000 SF Delivery Station in Port St. Lucie, Florida

by Julia Sanders January 26, 2022

PORT ST. LUCIE, FLA. — Amazon will be opening a 220,000-square-foot delivery station in Legacy Park at Tradition, a distribution park in Port St. Lucie. Construction is expected to be complete by September. The Seattle-based e-commerce giant plans to hire 200 full-time workers to prepare customer orders for last-mile delivery at the project. The facility will be a single-story building standing 44 feet. Sansone Group is the project developer, while Threecore is the general contractor. Robert Smith of CBRE worked with Sansone Group to sign Amazon on as a tenant at Legacy Park. Once completed, Legacy Park at Tradition will total approximately 5.4 million square feet of single and multitenant light industrial and distribution facilities. Other tenants at the Class A distribution park includes FedEx Ground and Cheney Brothers.

January 26, 2022

Development Multifamily Washington Western

Cypress Equity Investments Completes 186-Unit Hailey Apartments in Tacoma, Washington

by Amy Works January 26, 2022

TACOMA, WASH. — Los Angeles-based Cypress Equity Investments (CEI) has completed the construction of Hailey, a multifamily property in Tacoma. Located at 1210 Tacoma Ave. South, Hailey features 186 apartments in a mix of studio, open one-bedroom, one-bedroom and two-bedroom floor plans with custom cabinetry, quartz countertops, stainless steel appliances, tiled backsplashes and in-unit washers/dryers. The property offers a rooftop deck with harbor and mountain views, a second-floor outdoor terrace, fitness center, community barbecue facilities, bike storage, lounge seating, barbecue stations and fire pits. Studio19 Architects served as architect and Gig Harbor-based The Rush Cos. served as general contractor for the project. Construction began in late 2017 and the community received its certificate of occupancy in October 2021.

January 26, 2022

Acquisitions Multifamily Texas

Rosewood Property Breaks Ground on 311-Unit Multifamily Project in San Antonio

by Taylor Williams January 25, 2022

SAN ANTONIO — Dallas-based Rosewood Property Co. has broken ground on Phase II of Tobin Estates, a 311-unit multifamily project located on the north side of San Antonio. In addition to the 311 units that will be housed in four buildings, Phase II will feature a building with seven townhomes and additional amenities, including a 4,500-square-foot fitness center. Project partners include Oden Hughes Construction (general contractor), WDG Architecture, Pacheo Koch (civil engineer), B2 Architecture + Design (interior designer) and LandDesign (landscape architect). Completion of Phase II is slated for fall 2023.

January 25, 2022

Development Multifamily Oregon Seniors Housing Western

LRS Architects Designs 127-Unit Seniors Housing Expansion in Portland, Oregon

by Amy Works January 25, 2022

PORTLAND, ORE. — LRS Architects Inc has completed design work for Parkview at Terwilliger Plaza just south of downtown Portland. The 10-story, 370,000-square-foot building will bring 127 independent living apartments to the existing three-building senior living campus while providing space for up to 200 new residents. The project is designed to the Passive House standard with several sustainability goals, including sustainable energy use and improved air quality. “Features such as thermal bridge-free detailing, airtight construction, energy-efficient appliances, heat recovery ventilation and a green roof are central toward creating comfortable and energy-efficient spaces and establishing a level of sustainability other complexes cannot guarantee,” says Peter Houseknecht, LRS’s lead architect on the project. “Parkview at Terwilliger Plaza is the largest Passive House-certified project on the U.S. West Coast and largest in the senior living space.” Construction on the project began in the spring 2021 and is scheduled for completion in 2023.

January 25, 2022

Development Illinois Midwest Multifamily Top Stories

Developers to Begin Vertical Construction of 73-Story Apartment High-Rise in Chicago

by John Nelson January 25, 2022

CHICAGO — Co-developers Time Equities Inc., JK Equities and Oak Capitals plan to soon begin vertical construction for 1000M, a 73-story apartment high-rise in Chicago’s South Loop district. Named for its address (1000 S. Michigan Ave.), 1000M will stand 788 feet tall upon completion in 2025, making it one of the tallest apartment towers in Chicago. 1000M was originally conceived as a for-sale condominium tower but during a pause in construction during the COVID-19 pandemic, the co-developers decided to reposition the asset as a rental residential tower. Construction recommenced following a $304.5 million loan from Goldman Sachs and Deutsche Bank Wealth Management, according to various media outlets. The 738-unit apartment tower will offer residences ranging from studios to three-bedroom penthouse units. The development will also feature a golf simulator room, outdoor swimming pool with cabanas, a cookout area and a full-service 73rd floor bar and lounge offering views of the Chicago skyline. In addition, a 325-car parking garage will be concealed behind the apartments. Nearby attractions and venues include Grant Park, Lake Michigan, Soldier Field & Museum, Humboldt Park Formal Gardens, Columbia College Chicago, Hilton Chicago and Trader Joe’s. Helmut Jahn, a world-renowned German architect who was killed last year …

January 25, 2022

Acquisitions California Industrial New Mexico Western

Link Logistics, Western Realco Acquire 16.4-Acre Industrial Redevelopment Site in Corona, California

by Amy Works January 24, 2022

CORONA, CALIF. — A partnership between Link Logistics and Western Realco has purchased a 16.4-acre industrial redevelopment site located at 1375 Magnolia Ave. in Corona. Terms of the acquisition were not released. Jeff Chiate, Mike Adey and Brad Brandenburg of Cushman & Wakefield’s National Industrial Advisory Group represented the undisclosed seller in the deal. Rick Ellison and Brett Lockwood of Cushman & Wakefield will handle leasing for the new project. The site has the potential to house two Class A industrial buildings totaling more than 300,000 square feet of warehouse space. Currently, the property consists of multiple older industrial structures originally built in the mid-1990s that would be demolished.

January 24, 2022

Development Illinois Midwest Multifamily

Optima Begins Pre-Leasing 198-Unit Luxury Apartment Development in Chicago

by Kristin Harlow January 24, 2022

CHICAGO — Development firm Optima Inc. has begun pre-leasing Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood. Located at 3478 N. Broadway St., the project includes 14,000 square feet of street-level retail space. First move-ins are scheduled for April. David Hovey Sr., Optima’s CEO and founder, designed the project, while Optima’s in-house construction team served as general contractor. Units average 1,053 square feet, and monthly rents start at $2,400. Optima Lakeview features 40,000 square feet of amenities, including a rooftop sky deck, heated pool, grilling stations, basketball court, sports lounge, golf simulator, fitness center, yoga room, sauna, dog park, children’s play area, game room and chef’s kitchen. Work-from-home amenities include two conference spaces, a business center and several indoor and outdoor seating areas. Each residence comes with smart home technology, including keyless unit entry and smart thermostats.

January 24, 2022

California Development Industrial Western

Trammell Crow, CBRE Break Ground on Spec 606,343 SF Logistics Center in Tracy, California

by Amy Works January 21, 2022

TRACY, CALIF. — A joint venture between Trammell Crow Co. and CBRE Investment Management, on behalf of one of its investment funds, has broken ground on Tracy 205 Logistics Center, a logistics facility in the Northern California city of Tracy. Slated for completion in late 2022, the cross-dock building will feature 606,343 square feet of speculative industrial space with 40-foot clear heights, 185-foot truck courts, 56-foot by 60-foot column spacing, LED and sky lighting and an ESFR system. The project team includes HPA Architecture, Kier & Wright and Big D Pacific Builders. Tom Davis, Bob Taylor and Dan Davis of CBRE Central Valley will lead leasing efforts for the project.

January 21, 2022

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