development1

Crescent Communities, McShane Plan 317-Unit NOVEL Val Vista Apartments in Gilbert, Arizona

by Amy Works January 20, 2021

GILBERT, ARIZ. — Crescent Communities has selected McShane Construction Co. to build NOVEL Val Vista, an apartment community located on 8.6 acres in Gilbert. The wood-frame development will feature 317 apartments spread across three four-story, garden-style buildings and three two-story, carriage house buildings. Each unit offers upgraded matte black plumbing fixtures and black quartz countertops. The 11,500-square-foot amenity space will include a dog park, swimming pool, cold plunge spa, outdoor kitchen with pizza oven, outdoor fireplaces and fire pits. Completion is slated for fourth-quarter 2022. Craine Architecture is the architect of record.

January 20, 2021

Development Illinois Midwest Retail

Cannabis Facility Construction Completes 3,000 SF Dispensary in Suburban Chicago

by Kristin Harlow January 20, 2021

CALUMET CITY, ILL. — Cannabis Facility Construction has completed the buildout of a recreational and medical dispensary occupied by Mission Dispensaries in Calumet City, about 23 miles south of Chicago. The 3,000-square-foot property is located at 1330 Torrence Ave. across from River Oaks Center. It includes back office space, an oversized vault and an advanced security system. 4Front Ventures Corp. was the developer.

January 20, 2021

Development Multifamily New Jersey Northeast

Sterling Properties, Wilton Near Completion of 208-Unit Multifamily Project in Northern New Jersey

by Taylor Williams January 20, 2021

EAST RUTHERFORD, N.J. — A partnership between developer Sterling Properties and New York City-based Wilton Investment Group is nearing completion of Central & Oak, a 208-unit multifamily project in the Northern New Jersey city of East Rutherford. Units at the multi-building community range in size from 724 to 1,308 square feet and feature stainless steel appliances, quartz countertops, European-style cabinetry, individual washers and dryers and private garages. Communal amenities include a clubhouse with an outdoor terrace, a conference room with private workstations, a game room, fitness center and shuttle service to a nearby public transit station. Two buildings remain under construction and are expected to be complete by April, while leasing at other buildings began last summer, with move-ins following shortly thereafter.

January 20, 2021

Development Hospitality Maryland Southeast

Alfred Weissman Real Estate Completes Renovation of 298-Room DoubleTree by Hilton Hotel in Metro D.C.

by Alex Tostado January 19, 2021

GAITHERSBURG, MD. — Alfred Weissman Real Estate LLC has completed the renovation of DoubleTree by Hilton Washington, D.C. North/ Gaithersburg, a 298-room hotel in Gaithersburg. The renovations included reconfiguring the lobby, introducing farm-to-table restaurant Knife & Fork, adding a Hertz car rental office on the premises and reconfiguring parking to eliminate certain parking restrictions. The developer also upgraded the hotel’s 16,356 square feet of meeting space with new vinyl flooring, carpeting and lighting. The hotel also features a 24/7 fitness center, pool and dry-cleaning services. Marshall Hotels & Resorts manages the property.

January 19, 2021

Affordable Housing California Development Multifamily Western

St. Anton Communities Starts Construction of 196-Unit Affordable Housing Property in Santa Clara

by Amy Works January 19, 2021

SANTA CLARA, CALIF. — St. Anton Communities is developing St. Anton Tasman, a $100 million affordable housing community in Santa Clara. Located at 2233 Calle De Mundo, the property will feature 196 affordable units, with nearly 20 percent for very low-income tenants making up to 50 percent area median income (AMI) and the remaining units for low-income tenants making up to 80 percent AMI. The community is regulated to stay as affordable housing for at least 55 years. St. Anton Tasman will offer 153 studio units and 43 one-bedroom apartments, a podium deck, clubroom, fitness center, dog run and classroom/business center. Additionally, the community will offer services including instructor-led educational, health and wellness and skill-building classes. KTGY Architecture + Planning designed the six-story residential community, which is slated to open for occupancy in mid-2022. Bank of America provided primary construction and permanent financing for the project, with The Irvine Co. providing gap funding.

January 19, 2021

Development Illinois Midwest Multifamily

Lendlease, Magellan Top Off Pair of Residential Towers Along Lake Michigan in Chicago

by Kristin Harlow January 19, 2021

CHICAGO — Lendlease and Magellan Development Group have topped off Cirrus and Cascade, a pair of residential towers along Lake Michigan in Chicago’s Lakeshore East. Cirrus is a 47-story, 350-unit condominium tower at 211 N. Harbor Drive, while Cascade is a 37-story, 503-unit apartment tower at 455 E. Waterside Drive. Together, the two luxury properties represent one of the final phases of the Lakeshore East master plan. Cascade Park, a public green space connecting the two towers to the lakefront and Chicago Riverwalk, is slated to open ahead of schedule this summer. The buildings, designed by bKL Architecture, are two of three towers planned on the site. Condo units at Cirrus are priced from mid-$400,000 to more than $4 million. Floor plans range from 650 to 3,000 square feet. There are 15 penthouse residences located on floors 42 through 47 as well as two townhome residences on the ground level. The first units are slated for completion this fall. Apartment units at Cascade will range in size from studios up to three bedrooms. Pre-leasing is scheduled to begin this spring with the first move-ins expected in the summer. Residents of both towers will have shared access to amenities housed in …

January 19, 2021

Loans Midwest Missouri Multifamily

CIT Provides $42.5M in Construction Financing for St. Louis Apartment Project

by Kristin Harlow January 19, 2021

ST. LOUIS — CIT Group Inc. has provided $42.5 million in construction financing for Terra at the Grove, a 300-unit apartment project in St. Louis. Plans call for ground-floor retail space, a 52,000-square-foot courtyard and outdoor pool, a business center, clubroom and four-level parking garage. Units will range in size from studios to two-bedroom floor plans. Each unit will feature a balcony or patio. St. Louis-based Green Street is developing the four-story project. A timeline for construction was not released.

January 19, 2021

Development Multifamily Seniors Housing Southeast Tennessee

McShane to Build 138-Unit Seniors Housing Property Near Nashville for Avenida Partners

by Alex Tostado January 18, 2021

HENDERSONVILLE, TENN. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Newport Beach, Calif-based Avenida’s third active adult community in Tennessee and seventh overall in five states. The architect of record is Poole & Poole Architecture.

January 18, 2021

Development Hospitality Kansas Midwest

Four-Story Home2 Suites Hotel Opens in Downtown Wichita

by Kristin Harlow January 18, 2021

WICHITA, KAN. — The Home2 Suites by Hilton Wichita Downtown Delano hotel has opened. The new four-story hotel is located at 200 N. Sycamore St. It features 95 suites. Wichita-based TGC Hospitality Management is the property manager and Delano Hotel QOZB LLC is the owner. Amenities include complimentary internet, communal spaces, laundry area, fitness center, pool, grill area and daily breakfast. In response to COVID-19, the property features Hilton’s CleanStay program, which was created in partnership with Lysol maker RB.

January 18, 2021

California Development Industrial Western

CRG, Bird Dog to Develop 5.5 MSF Industrial Park in Glendale, Arizona

by Amy Works January 18, 2021

GLENDALE, ARIZ. — CRG, in a joint venture with Phoenix-based Bird Dog Industrial, is developing The Cubes at Glendale, a 335-acre, up to 5.5 million-square-foot industrial park in at the intersection of Reems Road and Northern Avenue in Glendale. The first phase of the project includes the construction of a 1.2 million-square-foot speculative warehouse with 40-foot clear heights, 213 dock doors, 50-foot by 56-foot column spacing and parking for 740 cars and 470 trailers. Construction is slated to begin on March 1, with the firm having already acquired the first 260-acre parcel of land. Acquisition of the second parcel is expected to close in the second quarter. Chicago-based Clayco, CRG’s parent company, will serve as builder, with Lamar Johnson Collaborative serving as architect for the first warehouse. John Lydon of JLL represented CRG in the land acquisition, while Tony Lydon, also of JLL, represented the undisclosed seller. John Lydon and Bill Honsaker of JLL will handle leasing at The Cubes at Glendale.

January 18, 2021

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