development1

Cordish Breaks Ground on $140M Luxury Apartment Project in Kansas City’s Power & Light District

by Kristin Harlow October 18, 2021

KANSAS CITY, MO. — The Cordish Cos. has broken ground on Three Light Luxury Apartments, a $140 million apartment complex in the heart of Kansas City’s Power & Light District. Three Light is the third apartment property to be built in the area, following One Light and Two Light, which are 97 percent occupied. Three Light will rise 26 stories with 288 units. The project will also include a seven-story parking garage and 7,600 square feet of ground-floor retail space. More than 30,000 square feet of amenities will include an exterior deck, infinity pool, entertainment kitchen, theater room, fitness center, business center, valet dry cleaning and coworking areas. Completion is slated for September 2023. More than 20 percent of the units in Three Light will be priced for residents who earn up to 80 percent of the area median income. The project team includes JE Dunn Construction, Hord Coplan & Macht, RD Jones + Associates and Selbert Perkins Design. The project was first announced in April.

October 18, 2021

Civic Development Texas

Cadence McShane to Build 115,000 SF Elementary School in New Braunfels, Texas

by Taylor Williams October 18, 2021

NEW BRAUNFELS, TEXAS — General contractor Cadence McShane will build a 115,000-square-foot elementary school near San Antonio that will be part of the New Braunfels Independent School District. Designed by Stantec, the new campus will function as a replacement for the Carl Schurz and Seele elementary schools and will be able to accommodate 850 students. As part of the project, which is slated for an August 2023 completion, Cadence McShane will also demolish the existing ninth grade center.

October 18, 2021

Development Multifamily New Jersey Northeast

BNE Real Estate Nears Completion of 291-Unit Multifamily Project in South Amboy, New Jersey

by Taylor Williams October 18, 2021

SOUTH AMBOY, N.J. — BNE Real Estate Group is nearing completion of Station Bay, a 291-unit multifamily development in South Amboy, about 35 miles south of New York City. Located along the Raritan Bay waterfront, Station Bay will feature studio, one- and two-bedroom units with stainless steel appliances, quartz countertops, tile backsplashes and individual washers and dryers. Residents will have access to a fitness center with yoga and spin studios, a coworking lounge with private meeting rooms, a game room and arcade, movie theater and a children’s play area. Outdoor amenities will include a pool, outdoor bar, private grilling dining areas and a lawn lounge. Information on starting rents was not disclosed.

October 18, 2021

California Development Multifamily Student Housing Western

Urban Catalyst Receives Approval for 850-Bed Student Housing Community Near San Jose State University

by Amy Works October 15, 2021

SAN JOSE, CALIF. — Urban Catalyst has received approval for development of The Mark, a 850-bed student housing community located one block from the San Jose State University (SJSU) campus in Northern California. Groundbreaking is expected before the end of this year with completion scheduled for fall 2024. The property will offer 200 units alongside shared amenities including open-air decks, common areas designed to promote student success and views of the SJSU campus. “Our goal is to offer students a robust off-campus experience that complements their educational experience,” says Erik Hayden, founder of Urban Catalyst. “The Mark will help address the long-term problem of an off-campus housing shortage around SJSU.” The project was designed by the student housing division of BDE Architecture in coordination with Gould Evans interior design and will be managed by Asset Living upon completion. The Mark is one of six projects funded through Urban Catalyst’s Fund I, which closed in December with $131 million in investments.

October 15, 2021

Development Multifamily Texas

Flournoy, PointOne Underway on 288-Unit Apartment Community in Lake Worth, Texas

by Taylor Williams October 15, 2021

LAKE WORTH, TEXAS — Georgia-based Flournoy Development Group and South Florida-based PointOne Holdings are underway on construction of Neuhaus, a 288-unit apartment community in Lake Worth, a northwestern suburb of Fort Worth. The property will consist of 12 three-story buildings, 48 detached garages and 48 carports on a 14.9-acre site. Amenities will include a pool, fitness center, outdoor grilling stations, clubhouse with gaming areas and multiple dog parks. HEDK is the project architect, and Strategic Construction is the general contractor. Flournoy Properties Group will manage the community. Completion is scheduled for fall 2022.

October 15, 2021

Affordable Housing Development Florida Multifamily Southeast

Housing Trust Group Opens $25M Affordable Housing Community in Miami

by Julia Sanders October 15, 2021

MIAMI — Housing Trust Group (HTG) has opened Max’s Landing Apartments, a 76-unit affordable housing community located in the West Kendall neighborhood of Miami. The development cost was $25 million. Located at 8905 SW 169th Court, Max’s Landing Apartments is a three-story building with 56 one-bedroom, one-bath units and 20 two-bedroom, two-bath units. The property has 11,388 square feet of retail space on the ground floor, and residential units on the second and third floors. Units range in size from 688 square feet to 1,108 square feet, and feature washer and dryer hook-ups, wide plank flooring and balconies. Community amenities include an elevator, clubroom with a kitchen and lounge seating, fitness center, business and computer room, community garden, smart storage lockers, electric car charging stations and bicycle racks. Apartments at Max’s Landing are reserved for residents earning between 30 and 80 percent of area median income (AMI), with monthly rent for qualifying residents ranging from $401 to $1,443. HTG purchased the 2.7-acre site in March 2019 and broke ground on the project in Feb. 2020. Earlier this year, the developer began leasing the property, and Max’s Landing is already fully leased. The project team includes Modis Architects, HSQ Engineers and …

October 15, 2021

Development Midwest Missouri Multifamily

Mia Rose Holdings, Benton Homebuilders Underway on Construction of Multi-Phase Project in Suburban St. Louis

by Kristin Harlow October 15, 2021

DARDENNE PRAIRIE, MO. — Mia Rose Holdings and Benton Homebuilders are underway on the construction of The Prairie, a multi-phase residential project in Dardenne Prairie, about 37 miles northwest of St. Louis. The project includes five three-story apartment buildings totaling 180 units. Benton Homebuilders is constructing nine buildings consisting of 60 three-bedroom villas. One of the apartment buildings will include first-floor retail space. Property manager 2B Residential plans to begin pre-leasing the units in early 2022. Phase I of the apartments is scheduled to open in mid-2022. The project team includes general contractor Midas Construction; architects Rosemann & Associates PC and DL Design; and civil engineer Premier Design Group. Mia Rose is teaming with entrepreneur and restaurateur Jim Cook on the development.

October 15, 2021

Civic Development Northeast Pennsylvania

Allegheny County Airport Authority Breaks Ground on $1.4B Terminal Modernization Project

by Taylor Williams October 15, 2021

PITTSBURGH — The Allegheny County Airport Authority has broken ground on the Terminal Modernization Program, a $1.4 billion expansion project that will add a new 700,000-square-foot terminal at Pittsburgh International Airport. The new terminal will be designed to improve the passenger experience by consolidating ticketing, security checkpoints and baggage claim. In addition, the project will add a multimodal complex that includes a new 3,300-space parking garage, rental car facilities and entrance roadways. The design team behind the project includes Gensler, HDR and Luis Vidal + Architects. The new terminal is expected to generate approximately $2.5 billion in economic activity and create more than 14,000 total direct and indirect jobs. The new terminal is scheduled to open in 2025.

October 15, 2021

Colorado Development Multifamily Western

High Street Residential, CBRE Investment to Develop 252-Unit Residences at Olde Town Station Near Denver

by Amy Works October 14, 2021

ARVADA, COLO. — High Street Residential and its joint venture partner CBRE Investment Management, on behalf of the CBRE U.S. Development Partners 5 fund, will develop The Residences at Olde Town Station, a multifamily community in Arvada. The four-story property will feature 252 units ranging from studio to two-bedroom layouts over two levels of structured parking. On-site amenities will include a fitness center, clubroom, lounge, rooftop deck, two courtyards with lounge seating and fire pits, a resort-style pool and a dog park. The Eisen Group is serving as architect and PCL Construction is the general contractor. Citizens Bank provided financing for the project. High Street Residential is Trammell Crow Co.’s residential subsidiary. Construction is slated to begin in early October with final completion scheduled for late 2023.

October 14, 2021

Development Industrial Texas

Hillwood to Develop Two Spec Industrial Buildings Totaling 1 MSF at AllianceTexas in Fort Worth

by Taylor Williams October 14, 2021

FORT WORTH, TEXAS — Hillwood will develop Alliance Center North 8 and 9, two speculative industrial buildings totaling approximately 1 million square feet within the firm’s 27,000-acre AllianceTexas master-planned development in Fort Worth. The cross-dock buildings will be marketed to e-commerce, logistics and manufacturing users and will feature 36-foot clear heights, 185-foot truck court depths, office space and LED warehouse lighting. In addition, Alliance Center North 8 will offer 140 car parking spaces (expandable to 260) with 116 trailer parking spaces, and Alliance Center North 9 will provide 150 car parking spaces with 221 trailer parking spaces. The groundbreaking is set for December, and completion is slated for the third quarter of 2022.

October 14, 2021

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