development1

Ryan Cos. Tops Out 213-Unit Seniors Housing Project in Austin

by Taylor Williams November 21, 2023

AUSTIN, TEXAS — Minneapolis-based developer Ryan Cos. has topped out Grand Living at The Grove, a five-story, 213-unit seniors housing project in Central Austin. The 348,353-square-foot building will house 177 independent and assisted living apartments, as well as 36 memory care apartments. Grand Living at The Grove will feature studio, one- and two-bedroom apartments that will range in size from 450 to 1,600 square feet. Ryan Cos. is co-developing the project with Grand Living and Castletop Capital. PACE Loan Group and Bankers Trust provided financing for the project. Construction began about a year ago, and delivery is slated for early 2025.

November 21, 2023

Development Multifamily Texas

High Street Residential Completes 370-Unit Montgomery Apartments in Allen, Texas

by Taylor Williams November 17, 2023

ALLEN, TEXAS — Developer High Street Residential has completed The Montgomery, a 370-unit apartment community located northeast of Dallas in Allen. Designed by JHP Architecture with interiors by Britt Design Group, The Montgomery features one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, island kitchens and individual washers and dryers. Amenities include a pool, fitness center, outdoor grilling and dining areas, clubroom and a dog park. Rents start at $1,545 per month for a one-bedroom apartment.

November 17, 2023

Development Multifamily Texas

High Street Residential Completes 363-Unit Legacy Square Apartments in Plano

by Taylor Williams November 16, 2023

PLANO, TEXAS — Developer High Street Residential has completed Legacy Square, a 363-unit apartment community located north of Dallas in Plano. Designed by GFF with interiors by Britt Design Group, Legacy Square features one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, island kitchens, custom cabinetry and tile backsplashes. Private balconies/yards are also available in select units. Amenities include a pool, fitness center, outdoor grilling and dining areas, a playground, cyberlounge, business center, clubroom and a package room. Rental rates start at $1,665 per month for a one-bedroom apartment.

November 16, 2023

Development Mixed-Use New York Northeast

Simone Development to Undertake 1.8 MSF Expansion of Hutchinson Metro Center in The Bronx

by Taylor Williams November 15, 2023

NEW YORK CITY — Locally based firm Simone Development Cos. will undertake a 1.8 million-square-foot expansion of Hutchinson Metro Center, a mixed-use development located in the Morris Park neighborhood of The Bronx. Specific plans for the expansion are still being finalized, but the development can support additional life sciences, technology, healthcare and academic space, as well as hospitality, housing and retail uses. Upon completion, Hutchinson Metro Center will consist of more than 4 million square feet across 75 acres.

November 15, 2023

Development New York Northeast Retail

MediaPro North America Breaks Ground on Production Studio in Yonkers, New York

by Taylor Williams November 15, 2023

YONKERS, N.Y. — MediaPro North America, a provider of Spanish programming, in partnership with Great Point Media, has broken ground on a new film and entertainment production studio at 1500 N. Broadway in Yonkers, a northern suburb of New York City. The campus will feature three sound stages totaling 20,000 square feet, as well as post-production facilities and other amenities to support a range of media production and entertainment endeavors. First Citizens Bank provided construction financing for the project. Completion is slated for next fall.

November 15, 2023

Development Mixed-Use Texas

PAGEWOOD, Wile Interests Unveil Plans for Mixed-Use Redevelopment Project in Houston

by Taylor Williams November 14, 2023

HOUSTON — A partnership between two locally based firms, PAGEWOOD and Wile Interests, has unveiled plans for East Blocks, a mixed-use redevelopment in Houston. The project will transform a 10-block stretch of mid-20th century warehouses in the East Downtown neighborhood into a district of walkable restaurants, shops, offices and green spaces. The project will be developed in phases over the next three years, with the first phase calling for 196,000 square feet of retail and restaurant space, 112,000 square feet of office space and 650 parking spaces. Gensler is the project architect. Construction of Phase I is scheduled to begin in the second quarter.

November 14, 2023

Development Multifamily New Jersey Northeast

Garden Communities Begins Leasing 520-Unit Apartment Community in East Brunswick, New Jersey

by Taylor Williams November 14, 2023

EAST BRUNSWICK, N.J. — New Jersey-based developer Garden Communities has begun leasing Legacy Place, a 520-unit multifamily project located in the Northern New Jersey community of East Brunswick. The development features studio, one-, two- and three-bedroom units across two buildings with garage parking and 18,000 square feet of retail space, all on a 25-acre site. Amenities include a pool, outdoor grilling and dining areas, a coworking lounge, fitness center, dog park and walking trails. Rents start at roughly $2,300 per month for a one-bedroom apartment.

November 14, 2023

Development Multifamily Northeast Pennsylvania

Bozzuto Completes 250-Unit Ember at Berwyn Apartments Near Philadelphia

by Taylor Williams November 10, 2023

BERWYN, PA. — Maryland-based developer Bozzuto has completed Ember at Berwyn, a 250-unit apartment complex located about 25 miles northwest of Philadelphia. Ember at Berwyn features studio, one-, two- and three-bedroom floor plans that range in size from 438 to 1,476 square feet. Amenities include a fitness center with a yoga studio, business center with coworking space and conference rooms, courtyards with grilling and dining stations, a dog park, pool and a social lounge. Bozzuto developed the project via a joint venture with developer ECHO Realty. Rents start at $1,910 per month for a studio apartment.

November 10, 2023

Ocean-Gate-Apartments-Long-Branch-New-Jersey

Development Multifamily New Jersey Northeast

Developer Opens 170-Unit Ocean Gate Apartments in Long Branch, New Jersey

by Taylor Williams November 9, 2023

LONG BRANCH, N.J. — A developer doing business as Ocean Cooper Revitalization LLC has opened Ocean Gate, a 170-unit apartment complex in the Northern New Jersey community of Long Branch. Designed by Monteforte Architectural Studio, the property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and tile backsplashes. Outdoor amenities include a heated pool and sundeck, fire pits, private grilling and dining areas and a movie wall. Residents also have access to a clubhouse with a lounge, catering kitchen, coworking spaces, game room and a children’s play area, as well as a fitness center, pickleball and volleyball courts, a package room and a dog run. Rents start in the low $3000s per month for a one-bedroom apartment.

November 9, 2023

Development Industrial Loans Texas

Bank OZK, PGIM Provide $75.9M in Construction Financing for Metro Houston Cold Storage Project

by Taylor Williams November 8, 2023

BAYTOWN, TEXAS — Bank OZK and PGIM Real Estate have provided $75.9 million in construction financing for a 281,849-square-foot cold storage facility that will be located on a 30.7-acre site within TGS Cedar Port Industrial Park in the eastern Houston suburb of Baytown. Bank OZK provided a $50 million senior loan for the development, and PGIM provided the remaining $25.9 million. The borrower and developer is Philadelphia-based BG Capital. New Jersey-based FreezPak Logistics will operate the facility, which will house a range of temperature-controlled spaces to accommodate operations such as storage, processing, packaging and distribution. Completion is slated for next August.

November 8, 2023

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