development1

Larken Associates Breaks Ground on 254-Unit Apartment Project in Readington, New Jersey

by Taylor Williams February 5, 2021

READINGTON, N.J. — Larken Associates, a New Jersey-based developer, has broken ground on The Ridge at Readington, a 254-unit apartment project that will be located about 50 miles west of New York City. The property will feature 21 different floor plans with quartz countertops, stainless steel appliances and individual washers and dryers. Amenities will include a clubhouse with a theater room, pool, gym, outdoor lounge, children’s play area, a dog park and walking trails. Completion is slated for summer 2022.

February 5, 2021

Development Georgia Industrial Southeast

VanTrust Breaks Ground on 515-Acre Interstate West Industrial Development Near Savannah

by John Nelson February 4, 2021

BRYAN COUNTY, GA. — VanTrust Real Estate LLC has broken ground on the 515-acre Interstate West industrial development in Bryan County, just 30 miles west of Savannah. The first phase includes a 1.2 million-square-foot speculative, Class A warehouse that will deliver in the fourth quarter. Overall the park will have the capacity for 4.9 million square feet of industrial space. Danny Chase and David Sink of Colliers International | Savannah are marketing Interstate West for lease on behalf of VanTrust. Situated just off Interstate 16 and Highway 280, Interstate West will be situated about 22.6 miles from Port of Savannah, 15 miles from Interstate 95 and 18 miles from the Savannah/Hilton Head International Airport. VanTrust Real Estate LLC is a full-service commercial real estate development company based in Kansas City, Mo. No other development team members were disclosed.

February 4, 2021

Development Multifamily Seniors Housing Texas

Legacy Delivers $186M Seniors Housing Project in North Dallas

by Taylor Williams February 4, 2021

DALLAS — Legacy Senior Communities (LSC) has delivered The Legacy Midtown Park, a seniors housing community in North Dallas. Located on a 12-acre plot, the property features 184 independent living apartments, 51 assisted living apartments, 36 memory support residences and 54 private skilled nursing and rehabilitation suites. Development costs were estimated at $186 million. Construction began in 2018, with the final building, Aaron Towers Independent Living, receiving a temporary certificate of occupancy in December 2020. Aaron Towers offers 40,000 square feet of amenities and common space designed by local D2 Architecture with interiors by Austin-based StudioSix5. Apartments range in size from 800-square-foot studios to 2,600-square-foot penthouses.

February 4, 2021

Development Hospitality Michigan Midwest Multifamily

Barbat Holdings Completes Transformation of Former Archdiocese Building in Detroit, Leases to Sonder

by Kristin Harlow February 4, 2021

DETROIT — Barbat Holdings LLC, a West Bloomfield-based development firm, has completed the transformation and revitalization of 305 Michigan Ave. in Detroit. Now known as Gabriel Houze, the 100,000-square-foot, 10-story property is located in the city’s central business district across from the Westin Book Cadillac. Built in 1915 and formerly known as the Gabriel Richard Building, the property housed the Archdiocese of Detroit for over 50 years. Furniture store Weil & Co. first occupied the property upon its opening. CIBC financed the project in partnership with Invest Detroit. Sonder USA Inc., a residential hospitality concept that offers short-term rentals, has leased the entire building except for 8,000 square feet of retail space on the ground floor. Sonder will offer 125 units for lease. The Houze Living brand is a subsidiary of Barbat Holdings. The developer expects to complete Montgomery Houze in Ann Arbor and Birmingham Houze in Birmingham this summer.

February 4, 2021

Development Multifamily Texas

StreetLights Residential Completes 358-Unit Margo Apartments in Frisco

by Taylor Williams February 4, 2021

FRISCO, TEXAS — Locally based developer StreetLights Residential has completed The Margo, a 358-unit apartment community located at 4545 Mission Ave. in the northern Dallas suburb of Frisco. The Margo features studio, one-, two- and three-bedroom units that range in size from 507 to 2,094 square feet and that feature custom cabinetry, wood-style flooring and individual washers and dryers. Private balconies and yards are also available in select units. Communal amenities include a pool with cabanas and a sun deck, coworking spaces, a pet lawn and spa, outdoor kitchen and a media lounge. Gables Residential is managing the property. Rents start at $1,145 per month for a studio unit, according to Apartments.com.

February 4, 2021

California Development Industrial Office Western

Seefried Industrial, Clarion Partners Break Ground on 1 MSF Tracy Logistics Park in California

by Amy Works February 4, 2021

TRACY, CALIF. — Seefried Industrial Properties, in a joint venture with Clarion Partners, has broken ground on Tracy Logistics Park, a more than 1 million-square-foot speculative office and warehouse project in East Tracy. Seefried and Clarion originally purchased the 76-acre site in January for an undisclosed amount. Located at the northeast corner of Grant Line and Chrisman roads, Tracy Logistics Park will feature a 210,000-square-foot building, a 507,800-square-foot building and a 309,000-square-foot building. Tenants will have the opportunity to occupy space ranging from 20,000 square feet to 500,000 square feet. The buildings will feature tilt-up construction, clear heights ranging from 32 feet to 36 feet, 180-foot- to 185-foot-deep truck courts, a combined 236 trailer spaces, ESFR sprinkler systems and ample parking. Completion is slated for fourth quarter of this year. HPA is serving as architect, K&W as civil engineer and Alston Construction as general contractor. Mike Goldstein and John Steinbuch of Colliers International will handle marketing and leasing efforts for the project.

February 4, 2021

Development Massachusetts Multifamily Northeast Seniors Housing

Callahan Breaks Ground on 114-Bed Assisted Living Project in Metro Boston

by Taylor Williams February 4, 2021

HANOVER, MASS. — Callahan Construction Managers has broken ground on a 114-bed assisted living community in Hanover, located southeast of Boston. Benchmark Senior Living will operate the property, which will comprise 97 units and 91,000 square feet. Amenities will include a library, activity rooms, salons, wellness rooms and outdoor courtyards. Completion is slated for summer 2022. The project marks Callahan’s fourth assisted living project with Benchmark in New England.

February 4, 2021

Development Mixed-Use Multifamily Retail Southeast Tennessee

Mill Creek Residential to Develop 15-Story Apartment Tower in Nashville

by John Nelson February 3, 2021

NASHVILLE, TENN. — Mill Creek Residential will develop a mixed-use apartment community known as Modera Gulch. The 15-story development will feature 378 apartment homes and approximately 18,000 square feet of ground-floor retail space. Modera Gulch will feature studio, one-, two- and three-bedroom units with an average size of 901 square feet and select den layouts. Community amenities will include an amenity deck of the sixth floor, outdoor swimming pool, rooftop dog park and observation deck, barbecue area with picnic tables, pet spa, clubhouse, game room, cyber café, conference room and a coffee bar. The apartment’s fitness center will include a yoga/Pilates studio, TRX System and individual training options. Residents will have access to controlled-access garage parking, dedicated bike storage and additional storage. Modera Gulch will be situated at 810 Division St. in Nashville’s Gulch neighborhood. The apartment community will be located less than one mile from Amazon’s new Operations Center of Excellence in Nashville Yards and near attractions including the Frist Art Museum, Country Music Hall of Fame and the city’s famed Lower Broadway district. The community is also less than two miles from Nissan Stadium, home of the Tennessee Titans. Mill Creek Residential is a national rental housing company …

February 3, 2021

Development Multifamily Texas

Stonelake Capital to Develop 490-Unit Apartment Community in West Dallas

by Taylor Williams February 3, 2021

DALLAS — Texas-based developer Stonelake Capital will develop The Trinity, a 490-unit apartment community that represents the third phase of the company’s 25-acre Trinity Green residential district in west Dallas. The five-story building will be situated on five acres and will feature two pools, multiple clubrooms, a fitness center, coworking spaces and access to the development’s one-acre park. Construction is expected to begin during the second quarter.

February 3, 2021

California Development Office Retail Western

Sares Regis, Dostart Development Receive Approval for Burlingame Post Office Redevelopment in California

by Amy Works February 3, 2021

BURLINGAME, CALIF. — A joint venture between Sares Regis Group of Northern California (SRGNC) and Dostart Development Group has received approval from the Burlingame City Council for the redevelopment of the long-vacant, 1.3-acre Burlingame Post Office property in Burlingame. Groundbreaking for the project, located at 220 Park Road, is slated for third-quarter 2021, with the 185,000-square-foot office and retail property delivered by 2023. The new design will preserve the former Post Office lobby, converting it into ground-floor retail space that opens to the adjacent Burlingame Town Square, which will be constructed in coordination with the project. Situated in downtown Burlingame, the new project will include 275 parking stalls that will be available for public parking on the weekends and weekday evenings. In total, the redevelopment property will offer 170,000 square feet of office space and 15,000 square feet of retail space. Mike Moran, Ben Paul and Marc Pope of Cushman & Wakefield’s Burlingame office are marketing the office component for lease, while Steve Cutter and Chris Homs of Lockehouse Retail Group are marketing the retail portion. As part of the project, $2 million will be donated toward the future Town Square and $3.5 million will be contributed to affordable housing …

February 3, 2021

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