COLUMBUS, OHIO — Olshan Properties, together with Easton’s master developer The Georgetown Co., has opened a 136-room Aloft Hotel at Easton Town Center in Columbus. The new hotel is the fourth to open at Easton, a shopping and entertainment destination, in recent years. The hotel features a 7,500-square-foot restaurant, a fitness center, pool and designated event space. The Aloft brand is a business boutique hotel concept from Marriott. There are 140 Aloft locations worldwide.
SAN DIEGO — Chelsea Investment Corp. and Sudberry Properties have opened Siena affordable apartments for seniors and Stylus affordable apartments for families in Civita urban village, located in the Mission Valley area of San Diego. The adjacent properties are located on Russell Park Way between Civita Boulevard and Friars Road. The $155 million project is one of the largest new affordable housing projects in San Diego County and brings the total of affordable apartments in Civita to 456. Civita is the redevelopment of a 79-year-old sand and gravel quarry into a sustainable, transit-oriented village. Siena features 103 apartments for seniors in earning 30 percent to 60 percent of area median income (AMI). The one- and two-bedroom units range from 540 square feet to 783 square feet, with rents starting at $468 per month. Stylus offers 203 two- and three-bedroom apartments for families earning 50 percent to 60 percent of AMI. The units range from 770 square feet to 1,040 square feet, with rents starting at $1,037 per month. Additionally, Stylus features 37,000 square feet of ground-floor retail space, which LA Fitness will occupy. Each apartment community has its own clubroom with kitchen, on-site management, computer lab, laundry facilities on each …
PRESCOTT VALLEY, ARIZ. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley. Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages. The community is scheduled to open in summer 2022. Link Senior Development leads the project as the developer. Ankrom Moisan is serving as the architect on the project, Seabold Construction as the general contractor and Insight Senior Living as the management company.
CLERMONT, FLA. — Penler, an Atlanta-based multifamily real estate investment and development firm, has broken ground on a 288-unit apartment community in Clermont, which is a western suburb of Orlando. Penler expects the project to be open for residents in the spring of 2022. Located directly behind the Publix at East Town Center on West Colonial Drive, the unnamed apartment community will feature one-, two- and three-bedroom floor plans within two-story buildings. The garden-style apartments will allow residents to enter their units directly from the outside without passing through hallways or common stairwells, which is meant to limit exposure to contagions, according to Penler. Outdoor amenities will include a lawn, pool deck, grilling area, dog park and a pond facing the South Lake Trail. The nine-mile trail connects to the 22-mile West Orange Trail. The community will also have a 6,000-square-foot clubhouse with a fitness center, resident lounge, leasing center and a bike shop with storage. Interiors will feature open floor plans, quartz countertops, stainless steel appliances, vinyl plank flooring, high-end lighting and washers and dryers. Average rents are projected to be $1,568 per month, with one-bedroom units starting at $1,367, two-bedrooms at $1,593 and three-bedrooms starting at $1,931.
GEORGETOWN, TEXAS — Walker Real Estate and Chalk Hill Ventures have completed construction of an active adult community in Georgetown, a northern suburb of Austin. Located on a 12-acre site near Rabbit Hill, NorthStar Georgetown includes 298,800 square feet of active adult living comprising 210 apartments. Roscoe Property Management is the operator. Other project partners include Pi Architects, Square One Consultants, Pat Berry Design and Skybeck Construction.
NORTH CHARLESTON, S.C. — Jamestown, an Atlanta-based developer and owner of adaptive mixed-use developments around the world, has partnered with Southeast real estate developers William Cogswell and Jay Weaver to redevelop the 45-acre North Charleston Navy Yard. Decommissioned in 1996 but still home to dozens of companies, the waterfront campus will be reimagined into a 1.2 million-square-foot mixed-use neighborhood called Navy Yard Charleston. The project will add new office space, residences, shopping and dining to the nearby Park Circle neighborhood, as well as new green spaces, a concert hall and an outdoor events venue. The development team expects to break ground and begin renovations this year. No other construction timelines or associated costs were disclosed. While Navy Yard Charleston will go through extensive renovations, the team has made a commitment to preserve the area’s architectural detail and history, and bring new amenities to the community. The team also plans to establish a neighborhood employment program, which will reserve project-specific positions for local residents who live within the neighborhood and include a training program to help job seekers enhance their skills. Beginning its operation as a working dry dock in 1901, the Navy Yard maintained a naval presence on the North …
SANTA ROSA, CALIF. — JLL Capital Markets has arranged financing for development of The Lodge at Piner Road, a 92-unit seniors housing community. Blue Mountain Enterprises and Calson Management are developing the property, located in Santa Rosa, part of Sonoma County. Although the amount of the financing was undisclosed, it represents a 75 percent loan-to-cost ratio. A private lender provided the funds. The Class A property will total 37,762 square feet and consist of 66 assisted living units and 26 private memory care units. The property is adjacent to both a local bus stop and a Sonoma-Marin Rail Transit (SMART) station, which was recently completed in 2017, to allow connectivity to both Santa Rosa and San Francisco. Bercut Smith led the JLL Capital Markets team in the financing.
FRISCO, TEXAS — General contractor Adolfson & Peterson Construction (AP Construction) has reached the midpoint of the development of PGA of America’s 106,622-square-foot headquarters building in Frisco. The building will be situated on a 6.2-acre tract within the new 660-acre campus, which will also include two new championship golf courses, a 500-room Omni PGA Frisco Resort and a golf entertainment district. Approximately 150 employees will work in the four-story headquarters building, which is scheduled to be fully complete in the first quarter of 2022. PGA of America originally announced its relocation from South Florida to Frisco in December 2018. At the time, the organization projected an initial investment of $500 million in the local economy, a figure that is anticipated to grow to $2.5 billion over the next 15 to 20 years.
PHILADELPHIA — American Real Estate Partners (AREP) has completed the $15 million renovation of 1600 Market Street, a 39-story, 825,968-square-foot office tower in Philadelphia’s Center City neighborhood. According to LoopNet Inc., the property was built in 1980 and initially renovated in 1997. The project included a number of health and wellness upgrades, such as elevating exterior air settings to maximize HVAC exchanges of fresh air, using MERV 13 air filters throughout and installing ultraviolet light and ion technology air purifiers in elevators. AREP originally acquired the asset in 2018 and began this renovation project in December 2019.
HOUSTON — A partnership between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has begun work on Seton Lake Logistics Center, a 255,704-square-foot speculative industrial project in northwest Houston. Designed by Powers Brown Architecture, the cross-dock building will feature 32-foot clear heights, 36 trailer parking stalls and an ESFR sprinkler system. Rosenberger Construction is the general contractor for the 16.8-acre project, which is expected to be complete in October. CBRE has been tapped to lease the building.
