development1

Holladay Properties Breaks Ground on $30M Luxury Apartment Complex in Lombard, Illinois

by Kristin Harlow July 13, 2021

LOMBARD, ILL. — Holladay Properties has broken ground on Lilac Station, a $30 million luxury apartment complex in the western Chicago suburb of Lombard. The 118-unit property will feature amenities such as a deck area, pet run, game court, outdoor lounge area and fitness center. There will also be an onsite restaurant. Construction is slated for completion in early 2023. Lilac Station is the third luxury apartment complex in the Chicagoland area for Indiana-based Holladay Properties, which serves as the developer and manager on each of the properties. Holladay Construction Group is the general contractor. Lilac Station is named after the lilac flower. Lombard is home to Lilacia Park, a horticultural showcase that features more than 700 lilacs and 35,000 tulips. The project is being built on the site of the former DuPage Theatre. Certain historic elements of the theater will be integrated into the design of the apartment complex.

July 13, 2021

Development Healthcare Loans Multifamily Student Housing Texas

Medistar Tops Out 19-Story Student Housing Tower at Texas A&M Innovation Plaza Campus in Houston

by Taylor Williams July 13, 2021

HOUSTON — Locally based developer Medistar Corp. and partner Healthcare Trust of America (NYSE: HTA) have topped out construction of Life Tower, a 714-bed student housing building that is part of the new three-tower Texas A&M Innovation Plaza campus in Houston. The project is transit-connected and is situated adjacent to the Texas Medical Center. CIM Group provided $135.8 million in construction financing for the 19-story, 483-unit student housing building. The Carlton Group of New York City served as the loan arranger for the construction financing. In June, construction began on Horizon Tower, a 17-story, 485,000-square-foot medical/biomedical tower and a new 13-level parking garage that will house 2,638 spaces and 15,200 square feet of retail space. Life Tower, Horizon Tower, the new garage and amenities will complement and support the Texas A&M Engineering-Medicine (EnMed) program. Completion of the student housing tower is slated for summer 2022, enabling medical, nursing and engineering students to move in prior to the fall 2022 academic semester. Horizon Tower is now leasing through Tim Relyea and Bill Hartman with Cushman & Wakefield, and scheduled for an early 2023 completion. At $550 million in total investment, Texas A&M Innovation Plaza is the largest public-private partnership of the …

July 13, 2021

Development Multifamily Seniors Housing Washington Western

Alliance Residential Starts Construction of 136-Unit Seniors Housing Project in Bellevue, Washington

by Amy Works July 13, 2021

BELLEVUE, WASH. — Alliance Residential has started construction of Holden of Bellevue, the first piece of a three-phase multifamily project in downtown Bellevue. Holden will rise seven stories and feature 110 assisted living units and 26 memory care units. It is scheduled to open in late fall 2021. The second phase of the overall project will be an independent living building, followed by standard multifamily in the third phase. Its location is in close proximity to the city’s restaurants, boutiques, art galleries, public parks and museums. Milestone Retirement Communities will operate Holden of Bellevue upon opening.

July 13, 2021

California Development Hospitality Mixed-Use Top Stories Western

Alagem Capital, Cain International Unveil Plans for $2B One Beverly Hills Project

by John Nelson July 13, 2021

BEVERLY HILLS, CALIF. — Alagem Capital Group and Cain International have unveiled plans for One Beverly Hills, a 17.5-acre “urban resort” that the developers estimate will value $2 billion upon completion. The project will include two new condominium towers, an eight-acre botanical garden and a new 10-story tower comprising 42 luxury hotel rooms, 37 shared-ownership condominiums and a fine dining restaurant. One Beverly Hills also includes the revitalization of the adjacent Beverly Hilton and Waldorf Astoria Beverly Hills, two luxury hotels that Alagem Capital and Cain purchased in 2018. In June, the Beverly Hills City Council approved the project by a vote of 4 to 1. The historic development agreement between the developers and the City of Beverly Hills guarantees a $100 million public benefit fee, which Alagem Capital and Cain will pay over the course of eight years, according to the Beverly Hills Courier. None of the condominiums will be reserved for affordable housing, according to local and national media outlets. One Beverly Hills’ hotel-condo tower will include a private members club open to residents and a select number of non-residents. Members will have access to 130,000 square feet of amenities space over three levels that will be divided …

July 13, 2021

Development Multifamily New Jersey Northeast

J.G. Petrucci to Develop 172-Unit Apartment Community in East Orange, New Jersey

by Taylor Williams July 12, 2021

EAST ORANGE, N.J. — Developer J.G. Petrucci Co. Inc. will build The Station at East Orange, a 172-unit apartment community that will be located just west of Newark. The property will feature one-, two- and three-bedroom units, 30 percent of which will be reserved as affordable housing, with kitchen islands and stainless steel countertops. In addition, The Station at East Orange will include 3,477 square feet of retail space and amenities such as a fitness center, business center and an art gallery. J.G. Petrucci is developing the project in partnership with TD+ Partners and the City of East Orange. A firm construction timeline is still being established.

July 12, 2021

Development Industrial Midwest Missouri

TSI Moves into New 40,000 SF Headquarters in St. Charles, Missouri

by Kristin Harlow July 12, 2021

ST. CHARLES, MO. — TSI Global Cos. LLC has moved into its new 40,000-square-foot headquarters in St. Charles, a northwest suburb of St. Louis. The technology company provides custom-built audio-visual systems, infrastructure cabling, electric and security systems. The project team included Al Droste & Sons Construction, Gray Design Group and developer 370 Tech Center LLC. TSI performed the cabling, technology and electrical systems engineering and installment. TSI also plans to open an office in Charlotte, N.C. in effort to facilitate major clients outside of the Midwest area.

July 12, 2021

Development Georgia Multifamily Southeast

McShane Completes Construction of 315-Unit Archer Multifamily Community in Acworth, Georgia

by Julia Sanders July 12, 2021

ACWORTH, GA. — McShane Construction Co. has completed construction at The Archer, a 315-unit apartment community in Acworth. The property was built on behalf of RangeWater Real Estate, a real estate company based in Atlanta. The Archer features 12 four-story, garden-style buildings with one- to three-bedroom unit options, as well as granite countertops, stainless steel appliances, in-unit washers/dryers and private balconies. Community amenities include a central clubhouse, fitness center, social room with a game table, an indoor/outdoor double-sided fireplace, swimming pool, pool deck with private cabanas, an outdoor bar with a kitchen and grilling area and a trellised fire pit area. Located northwest of Atlanta in Cobb County, the development offers access to Interstate 75. Poole & Poole Architecture provided the architectural services for The Archer. McShane Construction Co. is a construction firm based in Rosemont, Ill.

July 12, 2021

Development Industrial Midwest Minnesota

Opus to Build 35,600 SF Industrial Expansion for North Star Sheets Near St. Paul

by Kristin Harlow July 9, 2021

COTTAGE GROVE, MINN. — The Opus Group will build a 35,600-square-foot expansion for North Star Sheets at Southeast Industrial Park in Cottage Grove, about 10 miles south of St. Paul. North Star Sheets, a producer of corrugated paper products for manufacturing needs, currently occupies a 168,000-square-foot building on 16 acres. The company will use the expansion to increase capacity and add another rail spur to enhance its rail service infrastructure. Opus will serve as developer, design-builder, architect and structural engineer. Hillcrest Development LLLP owns Southeast Industrial Park. Eric Rossbach and Andy Heieie of Colliers International are the leasing agents for the property.

July 9, 2021

Development Industrial Leasing Activity Texas

HomeGoods to Open 1 MSF Distribution Center at Carter Park East in Fort Worth

by Taylor Williams July 9, 2021

FORT WORTH, TEXAS — HomeGoods, a division of Massachusetts-based discount retail giant TJX Cos., will open a 1 million-square-foot distribution center within Carter Park East, a 556-acre industrial development in Fort Worth. The 100-acre build-to-suit property will also serve as a regional distribution center for HomeGoods’ sister brand, Homesense. Seth Koschak, Jeff Rein and Forrest Cook of Stream Realty Partners represented the developers of the building, New York-based Clarion Partners and a fund advised by Crow Holdings Capital, in the lease negotiations. Tony Kepano and Nathan Lawrence with CBRE represented the tenant. Rob Riner Cos. is the master developer of Carter Park East, which is located south of Interstate 20 and east of Interstate 35 on the south side of Fort Worth.

July 9, 2021

Development Industrial New Jersey Northeast

J.G. Petrucci Breaks Ground on 1.8 MSF Port Logistics Center at Logan in New Jersey

by Taylor Williams July 9, 2021

LOGAN TOWNSHIP, N.J. — Developer J.G. Petrucci Co. Inc. has broken ground on Port Logistics Center at Logan, a 1.8 million-square-foot industrial project in Logan Township, located in the southern part of the state. Construction is underway on Building A, which will span 1 million square feet and feature a clear height of 40 feet, 663 vehicle parking spaces and 241 trailer parking spaces. Completion of Building A is slated for the fourth quarter. The other three buildings, which total 261,000, 253,500 and 331,870 square feet, are currently being marketed for lease.

July 9, 2021

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