development1

Direct Retail Partners to Begin Redevelopment of Shops at Worthington Place Mall in Suburban Columbus

by Kristin Harlow April 21, 2021

WORTHINGTON, OHIO — Direct Retail Partners has received the final zoning approval to begin construction on Phase I of the redevelopment of the Shops at Worthington Place in Worthington, a northern suburb of Columbus. The project, known as High North, will transform the shopping mall into a mixed-use development, anchored by a 125,000-square-foot Class A office building. Five floors of office space will sit atop four levels of structured parking. The first floor will be surrounded by a WiFi-enabled public courtyard. Dining and grocery options like Panera Bread, First Watch, Pies & Pints and Kroger will remain in the development. About 21,000 square feet of the existing mall will be demolished, according to online news publication Columbus Underground. Collin Wheeler, Aaron Duncan and Brad Stricker of CBRE are marketing the office portion for lease.

April 21, 2021

Arizona Development Multifamily Western

Banyan Breaks Ground on 651-Unit Banyan North Tempe Apartments in Arizona

by Amy Works April 21, 2021

TEMPE, ARIZ. — Los Angeles-based Banyan Residential has broken ground for the first phase of Banyan North Tempe, a 651-unit multifamily community in Tempe. Working with Indianapolis-based Milhaus, Banyan annexed a 16.5-acre site, which is the first time the City of Tempe has expanded its boundaries in more than a decade. Construction is now underway for the $177 million development, with the first phase slated for completion in early 2023. Designed by Todd & Associates, Banyan North Tempe will feature 310 studio, one-, two-, three- and four-bedroom units in its first phase and a total of 651 units at full build-out. Community amenities will include two swimming pools, a fitness center, an outdoor spa, a clubhouse and library. The development team secured a $52 million construction loan from UMB Bank and Academy Bank. McShane Construction Co. is serving as general contractor on the project.

April 21, 2021

Development Mixed-Use Texas

Lincoln Property Co. to Develop Mixed-Use Project in Dallas

by Taylor Williams April 20, 2021

DALLAS — Dallas-based Lincoln Property Co. will develop a mixed-use project in the Preston Center area of Dallas. The project will consist of a 12-story, 225,000-square-foot office building and a 14-story, 128-unit multifamily complex, as well as retail and restaurant space. Construction is set to begin in May. Lincoln Property Co.’s commercial division will occupy 59,000 square feet of space at the office building, and Sewell Automotive Cos. has committed to 26,500 square feet of office space. Lincoln Property Co. is developing the project on land owned by Saint Michael and All Angels Episcopal Church following a five-year collaborative effort to secure entitlements for the site from the City of Dallas.

April 20, 2021

Development Florida Multifamily Southeast

Strategic Property Partners Opens Heron Residential Building at Water Street Tampa

by Julia Sanders April 20, 2021

TAMPA, FLA. — Strategic Property Partners LLC, the Tampa-based developer behind the $3 billion Water Street Tampa development underway, has opened Heron, a 420-unit apartment community located at 815 Water St. Water Street Tampa’s first residential building is now offering in-person tours for potential residents. Construction on the development started in November 2018. The residential property offers one-, two- and three-bedroom apartments ranging in size from 555 to 2,206 square feet. Each unit features a private terrace ranging from 122 to 753 square feet, as well as floor-to-ceiling windows, quartz counters, custom cabinetry and kitchen appliances by Fisher & Paykel. Additionally, each residence includes floating bathroom vanities, soaking tubs and rainfall showerheads. Heron includes a parking garage and 40,000 square feet of ground-level retail space, including a GreenWise Market. Orlando-based ZRS Management Co. manages Heron and will oversee its programming, including virtual and in-person events. These will include cooking demonstrations with chefs, fitness and meditation classes and expert discussions on topics like sleep wellness and urban gardening. Heron’s amenities include a rooftop pool with cabanas, outdoor kitchen and barbecue areas, fitness center, bar and lounge spaces on each of its dual towers. The property will be the first residential development …

April 20, 2021

Development Illinois Midwest Multifamily

Draper and Kramer Tops Off 120-Unit Wrigleyville Lofts in Chicago

by Kristin Harlow April 20, 2021

CHICAGO — Draper and Kramer Inc. has topped off a 120-unit multifamily project located at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. The developer has named the project Wrigleyville Lofts, as it is situated 2.5 blocks north of Wrigley Field. Draper and Kramer plans to begin pre-leasing this summer for fall 2021 move-ins. The project includes 108 one-bedroom units and 12 two-bedroom units, as well as 14,000 square feet of ground-floor retail space. Lakeview Ace Hardware, which occupied the single-story structure previously on the site, will return to anchor the corner commercial space. Lakeview Ace is also a minority partner in the development. Amenities will include a rooftop deck, meeting areas, a coffee shop, clubroom, fitness center and private parking garage. Rents will start at roughly $1,900 per month. The Chicago regional office of HUD financed the project, with Gershman Mortgage acting as the HUD lender. Leopardo Construction is the general contractor and Sullivan, Goulette & Wilson Architects is the architect.

April 20, 2021

Arizona Development Industrial Western

Cold Summit to Develop 357,000 SF Cold Storage Facility in Glendale, Arizona

by Amy Works April 20, 2021

GLENDALE, ARIZ. — Cold Summit Development is planning Cold Summit PHX, a speculative cold storage facility and the company’s first project in the Phoenix metro area. Sitework and construction are slated to begin immediately for completion by December 2021. The project is located at 9600 N. 151st Ave. in Glendale within the Woolf Logistics Park with Class I railway connectivity through BNSF. The 357,000-square-foot project, which is expandable to 485,000 square feet, will include high-quality office space, flexible structural bay spacing to accommodate multiple racking configurations, a 51-foor clear height in the warehouse with full temperature convertibility, 156 trailer drop spots and more than 75,000 pallet positions.

April 20, 2021

Development Multifamily Texas

Partnership Tops Out 326-Unit Canton at Classen Curve Apartments in Oklahoma City

by Taylor Williams April 19, 2021

OKLAHOMA CITY — A partnership between Houston-based Hines and Humphreys Capital has topped out The Canton at Classen Curve, a 326-unit apartment community in Oklahoma City. Designed by Dwell Design Studio and HPA Design Group, the midrise property will offer studio, one- and two-bedroom units. Amenities will include multiple private outdoor courtyards, a heated pool, private fitness center, clubroom, resident library, outdoor dog run, dog spa and modern package facilities. Preleasing is expected to begin in October, with the first units becoming available for occupancy in January 2022.

April 19, 2021

Development Florida Loans Mixed-Use Southeast

Tricera Capital Obtains $50.8M Loan for Adaptive Reuse Development in West Palm Beach

by Julia Sanders April 19, 2021

WEST PALM BEACH, FLA. — Tricera Capital, a Miami-based real estate investment firm led by Ben Mandell and Scott Sherman, has obtained a $50.8 million loan for The Press, a mixed-use project in West Palm Beach. The transaction refinances an existing loan and provides Tricera with the necessary funding to complete the redevelopment of the Palm Beach Post campus. Jason Krane and Simon Ziff of Ackman-Ziff Real Estate Group arranged the financing on behalf of Tricera through Chicago-based Monroe Capital LLC. Law firm Polsinelli served as Tricera’s legal representative for the transaction. Located on more than 11 acres at 2751 S. Dixie Highway, The Press is an adaptive reuse project in which nearly all existing structures are being preserved. The property includes a 125,000-square-foot retail component known as the Shops at the Press and an adjacent 140,000-square-foot office building branded as Workspaces at the Press. Tricera finalized a long-term lease with Joseph’s Classic Market to anchor Shops at the Press, and the company expects to deliver the Joseph’s space by summer 2022. Joseph’s, a family-owned Italian specialty market founded in 2005, is leasing more than 15,000 square feet. Tricera also completed a lease with retailer Tipsy Salonbar, a South Florida-based …

April 19, 2021

Development Industrial Midwest Ohio

Kroger Opens First Customer Fulfillment Center Nationwide

by Kristin Harlow April 19, 2021

MONROE, OHIO — The Kroger Co. (NYSE: KR) has opened its first customer fulfillment center (CFC) in the country. The 375,000-square-foot facility is located in Monroe, a city north of Cincinnati. The CFC can fulfill thousands of orders per day and has the capability to support fulfillment of pickup orders. Powered by Ocado Group, a grocery e-commerce company, the CFC combines vertical integration, machine learning and robotics with affordable and fast delivery service for fresh food, according to Kroger. Onsite associates will support delivery operations and help process, package and load orders. The Monroe CFC will employ nearly 400 associates. After placing an order via Kroger’s website or app, customers in regions where there is a CFC will have their groceries delivered by a Kroger delivery associate in a temperature-controlled van. The Kroger delivery network will also continue to leverage stores and third-party partners to deliver certain orders. In May 2018, Kroger and Ocado formed an exclusive partnership for the rollout of CFCs across the country. The companies also plan to roll out components of the software solutions into Kroger stores in order to support fulfillment of curbside pickup orders. A CFC in Groveland, Fla. near Orlando is scheduled to …

April 19, 2021

Affordable Housing California Development Multifamily Western

West Hollywood Community Corp. Starts Construction of 41-Unit Affordable Housing Property in Los Angeles

by Amy Works April 19, 2021

LOS ANGELES — West Hollywood Community Corp. has broken ground for the development of Mariposa Lily, an affordable multifamily property located in the Pico-Union neighborhood of Los Angeles. Mariposa Lily will feature 40 residential units of affordable and permanent supportive housing, as well as a manager’s apartment. HED designed the infill seven-story property, which reflects an art-deco style.

April 19, 2021

Newer Posts

Older Posts