development1

Puttshack Breaks Ground on 25,000 SF Mini-Golf Location in West Midtown Atlanta

by Alex Tostado October 9, 2020

ATLANTA — Puttshack, a technology-infused mini-golf operator from the same team behind Topgolf, has broken ground on a new location at The Interlock in Atlanta. The 25,000-square-foot Puttshack is expected to open in spring 2021. The property will feature four mini-golf courses, a bar and an indoor-outdoor rooftop patio. The location will open at 1085 Howell Mill Road, three miles north of downtown Atlanta and two miles from an existing Topgolf location. Local firm S.J. Collins Enterprises is developing The Interlock, a $450 million, nine-acre development. The property is expected to open next spring and will feature 200,000 square feet of office space; 105,000 square feet of retail and restaurant space; 349 apartments and 18 townhomes as part of the Solis Interlock; 70 townhomes by Monte Hewett Homes; and a 161-room Bellyard boutique hotel with a lobby, restaurant and bar.

October 9, 2020

Development Midwest Ohio Restaurant Retail

True Food Kitchen Opens First Location in Ohio

by Kristin Harlow October 9, 2020

COLUMBUS, OHIO — True Food Kitchen has opened its first Ohio restaurant at Easton Town Center in Columbus. The restaurant brand was founded in 2008 by Sam Fox and Dr. Andrew Weil, creator of the anti-inflammatory diet, which involves selecting foods that help fight chronic inflammation. True Food Kitchen serves a variety of vegetarian, vegan and gluten-free options. As a result of COVID-19, the restaurant is currently offering family to-go meals and carryout cocktails. The dining room includes 27 tables that are spaced six feet apart. The restaurant also includes an outdoor patio. There are 34 True Food Kitchen locations in 15 states.

October 9, 2020

Development Multifamily Student Housing Washington Western

Greystar to Break Ground on $145M Student Housing Community Near University of Washington

by Amy Works October 8, 2020

SEATTLE — Greystar is set to break ground on Lakeview Student Residences, a $145 million student housing community located in Seattle’s U District near the University of Washington. The Charleston, S.C.-based developer recently purchased a five-parcel assemblage of existing apartment buildings located at NE 42nd St. and 12th Ave. NE for the development for $17 million. Dan Chhan, Tim McKay and Sam Wayne of Colliers International represented Greystar and the undisclosed seller in the transaction. “This is a core location with high-rise zoning, just three blocks from the University of Washington and one block from the new light rail station opening in 2021,” says Wayne. “Despite some current headwinds facing student housing due to COVID-19, this area is poised for outsized future growth as institutional investors develop new residential and office towers and the University of Washington continues its expansion.” The 21-story, 226-unit community is slated for completion in fall 2022. Lakeview’s amenities are set to include a rock-climbing wall and rooftop decks with designated study areas and entertainment space. Charles Halladay, Jordan Angel, Chris Ross, Teddy Leatherman, Stewart Hayes and Taylor Gimian of JLL worked on behalf of the developer to secure construction financing for the project through Pacific …

October 8, 2020

Development Office Texas

TRS Completes 134,938 SF Research Forest Lakeside Office Project in The Woodlands

by Taylor Williams October 8, 2020

THE WOODLANDS, TEXAS — Transwestern Real Estate Services has completed Research Forest Lakeside Building 9, a 134,938-square-foot office project located in The Woodlands, about 30 miles north of Houston. The six-story, Class A building includes floor-to-ceiling glass, a climate-controlled parking garage and proximity to a planned four-acre green space that will feature walking trails and exercise stations. In addition, several restaurants, including Snooze A.M. Eatery, Grub Burger Bar and Bellagreen American Bistro, are located adjacent to Building 9. Research Forest Lakeside is a mixed-use development that spans 77 acres overlooking Lake Woodlands that will ultimately feature 1.8 million square feet of commercial space.

October 8, 2020

Development Multifamily New Jersey Northeast

KRE Group Breaks Ground on 213-Unit Multifamily Project in Bayonne, New Jersey

by Taylor Williams October 8, 2020

BAYONNE, N.J. — Developer KRE Group has broken ground on Phase II of Bay 151, a multifamily project that will add 213 units to the local supply of the New York City metro of Bayonne. Phase I consists of 200 units that are now 85 percent occupied. At full build-out, Bay 151 will comprise 625 apartments and 10,000 square feet of retail space. Residences at Bay 151 come in studio, one-, two- and three-bedroom formats, and the property features more than 15,000 square feet of indoor and outdoor amenity space, with all amenities now open to residents. Completion of Phase II is slated for late 2021.

October 8, 2020

Development Illinois Midwest Multifamily

Optima Begins Development of 198-Unit Luxury Apartment Project in Chicago’s Lakeview Neighborhood

by Kristin Harlow October 8, 2020

CHICAGO — Optima Inc. has begun development of Optima Lakeview, a 198-unit luxury apartment project in Chicago’s Lakeview neighborhood. The seven-story, transit-oriented development will replace a shuttered Treasure Island grocery store and parking lot. Designed by Hovey, the project also includes 14,000 square feet of street-level commercial space. Residents will have access to 40,000 square feet of amenities, including a rooftop sky deck, pool, indoor basketball court, golf simulator, fitness center, yoga room, sports lounge, pet spa, game room, business center and two conference rooms. The building will offer 94 fully enclosed parking spaces and storage for 208 bicycles. Optima says it designed larger floor plans to accommodate dedicated space for a home office in today’s work-from-home environment. Completion is slated for March 2022.

October 8, 2020

Development Midwest Minnesota Office

Accesso to Renovate Crystal Court Within IDS Center in Minneapolis

by Kristin Harlow October 8, 2020

MINNEAPOLIS — Owner Accesso has unveiled plans to renovate Crystal Court, a central gathering place located within IDS Center in Minneapolis. The renovation plan, which was designed in collaboration with Perkins and Will and New History, calls for updating the “functionality and aesthetics of the space to better meet the evolving needs of today’s consumer.” Renowned architect Philip Johnson designed the 57-story, 1.4 million-square-foot office tower, which opened in 1972. The updated Crystal Court will feature new collaborative seating areas, a grove of trees and a new water feature. Accesso, a manager, owner and operator, boasts a portfolio of 35 office properties spanning 15.6 million square feet throughout the U.S.

October 8, 2020

Development Illinois Midwest Retail

Cannabis Facility Construction Completes 9,982 SF Dispensary for Greenhouse in Northbrook, Illinois

by Kristin Harlow October 8, 2020

NORTHBROOK, ILL. — Cannabis Facility Construction (CFC) has completed building a new recreational and medical cannabis dispensary for Greenhouse in Northbrook. Located at 755 Skokie Blvd., the 9,982-square-foot project serves as a flagship dispensary for the brand. The building features an open floor plan with high vaulted ceilings and abundant natural light. To accommodate social distancing, all points of sale are six feet apart. In addition to the retail space, the project features back-office space with a secure vault for inventory storage and an advanced security system.

October 8, 2020

Development Mixed-Use South Carolina Southeast

URS Capital, Catalyst Capital to Develop $45M Mixed-Use Project Near Charlotte

by Alex Tostado October 7, 2020

ROCK HILL, S.C. — A joint venture between URS Capital Partners and Catalyst Capital Partners will develop The Exchange at Rock Hill, a planned $45 million mixed-use project in Rock Hill. The property will include 229 multifamily units, coworking office space and 26,000 square feet of retail and commercial space. The joint venture recently closed on the land sales, which included the assemblage of three parcels that were acquired from the City of Rock Hill and private investors. The Exchange at Rock Hill will be situated at the intersection of Dave Lyle Boulevard and E. White Street, adjacent to downtown Rock Hill and 27 miles south of downtown Charlotte. Amenities for the multifamily residents will include a pool, outdoor lounge area, roof deck and a fitness center. Concorde Construction is the general contractor for the apartment component, while Wharton Smith Inc. is the general contractor for the commercial spaces. BB+M Architecture and 505 Design are the project architects, and Land Design is the civil engineer for the site. Pinnacle Bank provided the joint venture with acquisition and construction financing. The co-developers will hold a groundbreaking ceremony Wednesday, Oct. 13.

October 7, 2020

Colorado Development Loans Multifamily Western

Parkview Financial Provides $26M Construction Loan for Art District Lofts in Downtown Denver

by Amy Works October 7, 2020

DENVER — Parkview Financial has provided a $26 million construction loan to CRE Development Investments for the development of Art District Lofts, an apartment community located at 1275 Santa Fe Drive in Denver. With this financing, construction has now commenced with completion slated for December 2021. Situated in Denver’s Art District, the eight-story project will feature 115 apartments and 2,622 square feet of ground-floor retail space. Art District Lofts will offer 51 studios, 55 one-bedroom units and nine two-bedroom units with an average unit size of 548 square feet. Community amenities will include private balconies, a fitness center, rooftop deck and secure bike parking. The property will also offer 48 garage and surface parking spaces.

October 7, 2020

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