development1

Live-Casino-Pittsburgh-Westmoreland-Mall

CBL Properties Debuts $150M Live Casino Pittsburgh Destination at Westmoreland Mall

by Taylor Williams January 18, 2021

PITTSBURGH — CBL Properties, a Tennessee-based retail REIT, has debuted Live! Casino Pittsburgh, a $150 million entertainment destination that operates out of the company’s Westmoreland Mall in metro Pittsburgh. The Cordish Cos. of Baltimore developed the 100,000-square-foot casino and will operate it under its Live! brand, which is known for baseball-themed entertainment destinations in Atlanta, St. Louis and Arlington, Texas. The two-level destination replaces a former Bon-Ton department store and offers an array of entertainment and fresh dining concepts, including American Kitchen + Craft Bar from celebrity chef Guy Fieri. CBL also plans to open a casino at York Galleria in York, Pennsylvania.

January 18, 2021

Development Multifamily Seniors Housing Texas

Presidium Completes 188-Unit Active Adult Project in Frisco

by Taylor Williams January 15, 2021

FRISCO, TEXAS — Texas-based developer Presidium has completed construction of Presidium at Edgestone, a luxury active adult community in Frisco, a northern suburb of Dallas. Designed by Cross Architects and SeeSaw Creative, the 165,398-square-foot property features 188 units on 18 acres near a variety of commercial and retail developments, as well as 10 golf courses, several walking trails and the upcoming 275-acre Grand Park. The community offers freestanding independent living cottages in addition to a residential building with amenities such as clubrooms, a pool, fitness and wellness center, library and cyber lounge, media and game rooms, pavilions and a resident gardening area with shade structures. The operator is Capstone Real Estate. Average rents range from $1,382 to $2,135 per month.

January 15, 2021

Development Industrial Kansas Midwest

Contegra Construction Completes First Distribution Facility at Turner Logistics Center in Kansas City

by Kristin Harlow January 15, 2021

KANSAS CITY, KAN. — Contegra Construction Co. has completed the first of several planned distribution facilities at NorthPoint Development’s Turner Logistics Center in Kansas City. The 408,000-square-foot building features a clear height of 36 feet, 36 dock doors with four drive-in ramps, parking for 210 vehicles and a small office. The 250-acre Turner Logistics Center has the capacity for 3 million square feet of industrial space. Contegra also completed infrastructure improvements to support future development.

January 15, 2021

Development Massachusetts Multifamily Northeast

Trammell Crow Residential to Develop 282-Unit Multifamily Project in Kingston, Massachusetts

by Taylor Williams January 15, 2021

KINGSTON, MASS. — Trammell Crow Residential, the multifamily development arm of Crow Holdings, has closed on land and construction financing for the development of Alexan Kingston, a 282-unit multifamily project that will be located about 35 miles south of Boston. The property will offer studio, one-, two- and three-bedroom floor plans ranging in size from 620 to 1,500 square feet. Units will feature granite countertops and individual washers and dryers, while select units will have private balconies or porches. Communal amenities will include a pool, fitness center, private workspaces, conference rooms, an event room, outdoor grilling areas and Amazon package lockers. Completion is slated for summer 2023. Pyramid Management Group will manage the property.

January 15, 2021

Development Office South Carolina Southeast

Balfour Beatty Breaks Ground on $42M Office Building in Downtown Charleston

by Alex Tostado January 14, 2021

CHARLESTON, S.C. — Balfour Beatty US has broken ground on Morrison Yard, a $42 million office building in downtown Charleston. The Keith Corp. and Origin Development Partners are the co-developers of Morrison Yard. The companies are located in Charlotte and Charleston, respectively. Morrison Yard will stand 12 stories high and will offer 140,000 square feet of office space, 8,000 square feet of ground-floor retail space and a four-story parking deck with approximately 377 parking spaces. The general contractor expects to deliver the asset in summer 2022.

January 14, 2021

Arizona Development Multifamily Student Housing Western

Toll Brothers, Harrison Street to Develop 826-Bed Student Housing Community in Tempe

by Amy Works January 14, 2021

TEMPE, ARIZ. — Toll Brothers Campus Living and Harrison Street have formed a joint venture to develop Canvas, a student housing community adjacent to Arizona State University (ASU) in Tempe. The joint venture has secured a construction loan facility from MidFirst Bank, Fifth Third Bank N.A. and Trustmark Bank. Toll Brothers’ in-house finance department arranged the debt and equity financing. TSB Capital Advisors served as advisor to Toll Brothers. Situated on 3.4-acres, Canvas will feature 263 units totaling 826 beds with a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed internet and stainless steel appliances. The community will feature a six-level, 469-stall parking garage; fitness center; clubroom with an e-sports lounge; rooftop pool and amenity deck; business center; café/lounge; ground-floor retail space; courtyard and fire pit; grilling stations; electronic parcel lockers; private study rooms; and bike storage. The joint venture has partnered with Subtext, a real estate development company focused on living spaces for students and young professionals. Toll Brothers Campus Living will manage the development, construction and marketing, as well as asset management. Cardinal Group Management will act as the …

January 14, 2021

Development Multifamily Texas

StreetLights Residential Opens 340-Unit Jackson Apartments in Arlington

by Taylor Williams January 14, 2021

ARLINGTON, TEXAS — Locally based developer StreetLights Residential has opened The Jackson, a 340-unit apartment community located within the Viridian master-planned development in Arlington. The property offers studio, one-, two- and three-bedroom units that range in size from 588 to 1,671 square feet and that are furnished with granite countertops, tile backsplashes, custom flooring and cabinetry and individual washers and dryers. Select units also feature private screened porches. Amenities include a lounge with coworking spaces, a fitness center with yoga and spin studios, coffee bar, pool, pet spa and a demonstration kitchen. WDG Architecture designed the project, and SLR Construction served as the general contractor. Rents start at $1,350 per month for a one-bedroom unit, according to Apartments.com.

January 14, 2021

Development Multifamily North Carolina Southeast Student Housing

Aspen Heights Breaks Ground on 188-Unit Student Housing Community in Charlotte

by Alex Tostado January 13, 2021

CHARLOTTE, N.C. — Aspen Heights Partners has broken ground on Aspen Heights University City, a 188-unit student housing community located at 300 Heritage Lake Drive near the University of North Carolina at Charlotte campus. The property will offer two-, three-, four- and five-bedroom units, two-thirds of which will feature a cottage-style design. Communal amenities will include a pool, grilling areas, basketball court, sand volleyball court, fitness center, study lounges and an onsite shuttle to campus. Austin, Texas-based Aspen Heights secured $38.1 million in construction financing from Synovus Bank for the development, which is scheduled for completion in summer 2022.

January 13, 2021

Development Indiana Midwest Multifamily

Doster Completes Construction of 215-Unit Apartment Complex in Jeffersonville, Indiana

by Kristin Harlow January 13, 2021

JEFFERSONVILLE, IND. — Doster Construction Co. has completed construction of The Walcott, a 215-unit luxury apartment complex in downtown Jeffersonville near Louisville. Located at 222 W. Maple St., the project includes a parking deck as well as a pool, fitness center and a rooftop terrace overlooking the Ohio River. Doster began construction on the project in 2019. Boka Powell was the architect and Waypoint Real Estate Investments was the developer. Monthly rents start at $1,045 for studios. Residents can now earn 10 weeks of free rent.

January 13, 2021

Affordable Housing Development Indiana Midwest Multifamily

The Annex Group to Develop $29M Affordable Housing Community in Indianapolis

by Kristin Harlow January 13, 2021

INDIANAPOLIS — The Annex Group is developing Union at 16th, a $29 million affordable housing community in Indianapolis. Located at 2215 W. 16th St., the 159-unit property will feature one-, two- and three-bedroom floor plans. Annex has closed on project financing and will begin construction immediately. Completion is slated for winter 2021. Project partners include T&H Investment Properties LLC and the Indiana Housing & Community Development Authority. The City of Indianapolis gave tax abatement incentives, R4 Capital Funding provided construction and permanent loan financing, Cinnaire provided tax credit equity and the Indianapolis Neighborhood Housing Partnership provided additional construction financing. Brenner Design is the architect and Crestline will serve as property manager. Amenities will include a playground, community center, fitness center, community gardens and bike parking.

January 13, 2021

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