development1

Omnibuild Reaches Construction Midpoint of 38-Story Hospitality Project in Manhattan

by Taylor Williams September 9, 2021

NEW YORK CITY — Locally based construction firm Omnibuild has reached the midpoint of construction of a 38-story hospitality project at 150 W. 48th St. in Midtown Manhattan that will house three hotels. The Hampton Inn, Home 2 Suites and Motto Hotel will offer a total of 1,046 rooms across the three brands. Additional features will include two ground-floor lobbies with entrances, retail space, a café and restaurant, rooftop bar and two gyms. Sam Chang of The McSam Hotel Group is developing the project, and Gene Kaufman Architects PC is designing it. Completion is slated for next fall.

September 9, 2021

Development Loans Multifamily Northeast Pennsylvania

Pacific Western Funds $30M Construction Loan for Philadelphia Multifamily Development

by Taylor Williams September 9, 2021

PHILADELPHIA — Pacific Western Bank has funded a $30 million construction loan for a 142-unit multifamily development in the East Falls neighborhood of Philadelphia. Amenities will include a pool, fitness center, wellness room, resident lounge, game room and private workspaces. The property will also house 10,450 square feet of ground-floor retail space. Gregg Wallace of AMA Financial placed the debt on behalf of the developer, a joint venture between Philadelphia-based Method Co. and Cimbra Partners. Completion is slated for the middle of 2023.

September 9, 2021

California Development Industrial Life Sciences Office Western

Sterling Bay West, Harrison Street to Acquire Life Sciences Portfolio in Sorrento Mesa, Plan 1.1 MSF Development

by Amy Works September 8, 2021

SAN DIEGO — Sterling Bay West and Harrison Street have agreed to acquire an office and life sciences portfolio in San Diego’s Sorrento Mesa submarket. City Office REIT is selling the assets for an undisclosed price. Located at 10390-10445 Pacific Center Court, 5910 Pacific Center Blvd. and 9985 Pacific Heights, the portfolio comprises four life sciences lab buildings, an empty building ready for speculative office/lab space, two office buildings totaling 420,229 square feet and five acres of excess land. The buyers plan to develop up to 1.1 million square feet of ground-up, Class A life sciences campus facilities on the site. Construction is slated to begin in 2023 and will be completed in phases.

September 8, 2021

Development Industrial Kansas Midwest Self-Storage

Hunt Midwest Builds Fifth Self-Storage Facility in Metro Kansas City

by Kristin Harlow September 8, 2021

LENEXA, KAN. — Hunt Midwest has completed its fifth StorTropolis self-storage facility in the Kansas City area. The 110,670-square-foot facility is located in Lenexa and includes 760 climate-controlled units. Situated at 19585 W. 102nd St., the three-story property features drive-thru access to fully enclosed loading areas and elevators. The largest units can accommodate RV storage. Strickland Construction, a Kansas City-based construction company specializing in storage complexes, served as general contractor. Storage Asset Management, a privately owned, third-party management company specializing in self-storage, operates the facility. Hunt Midwest launched its StorTropolis brand in 2018.

September 8, 2021

Development Florida Multifamily Seniors Housing Southeast

Origin Construction to Build $75M Seniors Housing Community in Port St. Lucie, Florida

by Julia Sanders September 7, 2021

PORT ST. LUCIE, FLA. — Miami-based Origin Construction will build America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and deliver in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community. America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 villas in 60 buildings surrounding four lakes with walking and biking trails. Each of the 60 buildings will include four to six villas, each with its own garage. The recreational space will include a two-story clubhouse encompassing over 26,000 square feet with a restaurant, exercise facilities, sports bar and a salon. Community amenities will include a pool, spas, pickleball court, bocce, fire pits and an outdoor dining facility.

September 7, 2021

Affordable Housing Development Illinois Midwest Multifamily

Skender Builds 16-Unit Affordable Housing Project in Wilmette, Illinois

by Kristin Harlow September 3, 2021

WILMETTE, ILL. — Skender has completed construction of Cleland Place, a three-story, 16-unit affordable housing project located at 1925 Wilmette Ave. in Wilmette, about 14 miles north of downtown Chicago. Housing Opportunity Development Corp. (HODC) will operate the property, which will house working families, seniors and veterans. The project is part of the Public Housing Voucher program, meaning residents pay 30 percent of their income and Housing Authority of Cook County subsidizes the rest. Cleland Place is named for Jean Cleland, a long-time Wilmette resident and founding member of HODC. The building includes one- and two-bedroom units. Amenities include a laundry room, covered parking and social activities for residents. Cordogan Clark & Associates served as architect.

September 3, 2021

285-Hancock-St.-North-Quincy-Massachusetts

Development Massachusetts Multifamily Northeast

Bozzuto, Atlantic Development Complete Phase I of Metro Boston Multifamily Project

by Taylor Williams September 3, 2021

NORTH QUINCY, MASS. — A partnership between Maryland-based developer Bozzuto and Atlantic Development has completed Phase I of The Abby, a 218-unit multifamily project at 285 Hancock St. in North Quincy, located south of Boston. The transit-served community will ultimately consist of 610 apartments across three buildings and 50,000 square feet of retail space, the bulk of which is preleased to Target. Construction of the second phase, which will consist of 137 units and amenities such as a wellness center, rooftop pool and a lounge area, is nearing completion. Phase III will include 255 units, more amenities and retail space and is slated for a fall 2022 completion.

September 3, 2021

Development Florida Multifamily Southeast Student Housing

TREO Group Completes $36M Student Housing Development Near University of Miami

by Julia Sanders September 2, 2021

MIAMI — Miami, Fla.-based The TREO Group has completed Vox Miami, a 326-bed student housing community located at 7202 S.W. 72nd St. in south Miami. The development cost for the 193,250-square-foot project was $36 million. Vox Miami offers a mix of one-, two-, three- and four-bedroom units with a TV in every living room, floor-to-ceiling windows, stainless steel appliances, washers and dryers, walk-in closets in most units, exposed industrial ceilings, furniture and cable and internet included. Community amenities include study lounges, a rooftop terrace and swimming pool, fitness center and parking. The property is fully leased for the 2021 school year. The student housing property is about 1.6 miles from the University of Miami campus. The development is also near retailers and restaurants including Deli Lane Café & Sunset Tavern, Petco, Publix and Shake Shack. Construction for the development started in 2019. The project’s development team included Moss Construction and Perkins & Will.

September 2, 2021

California Development Industrial Western

Voit Breaks Ground on 87,189 SF Spec Industrial Property in Rialto, California

by Amy Works September 2, 2021

RIALTO, CALIF. — The Voit Co. has broken ground on Renaissance Commerce Center, a speculative industrial property located at 1993, 2033 and 2133 W. Casmalia St. in Rialto. Totaling 87,189 square feet, the single-tenant industrial asset will feature a 34,015-square-foot building, a 28,837-square-foot facility and a 24,337-square-foot property. Each building will offer state-of-the-art amenities, including dock-high doors, 26- to 28-foot clear heights, ample parking and designated office space within each building. Completion is slated for first-quarter 2022. Juan Gutierrez and John Viscounty of Voit Real Estate Services will represent The Voit Co. in lease or sale of the property.

September 2, 2021

Development Office Southeast Virginia

Skanska to Build $129M Office Development in Arlington, Virginia

by Julia Sanders September 1, 2021

ARLINGTON, VA. — Skanska USA will invest $129 million to build 3901 Fairfax, an office development in Arlington. Construction is expected to begin this month, and the project is slated for completion in 2023. 3901 Fairfax will be a nine-story, approximately 204,514-square-foot office building and will include a private rooftop deck, conference center, ground floor fitness center, 250-space parking garage with electric car charging stations, ground-floor retail space and a public plaza. Skanska USA received WELL Core Pre-certification for the project and will try to get LEED and WiredScore Gold certifications, as well as an Energy Star certification.

September 1, 2021

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