development1

Willow-Grove-Shopping-Center-Pennsylvania

Federal Realty to Develop 306,448 SF Mixed-Use Project in Willow Grove, Pennsylvania

by Taylor Williams August 3, 2023

WILLOW GROVE, PA. — Federal Realty Investment Trust will develop a 306,448-square-foot mixed-use project in Willow Grove, a northern suburb of Philadelphia. The transit-served project, which will consist of 260 apartments and 20,000 square feet of retail and restaurant space within a six-story building, represents the third phase of the redevelopment of Willow Grove Shopping Center. Construction of Phase III, which will also include a structured parking garage, could commence as early as fall 2024. Phase II of the project, which featured an 18,000-square-foot outparcel retail building and various infrastructural developments, is nearing completion.

August 3, 2023

Development Multifamily New Jersey Northeast

Advance Realty Completes 399-Unit Multifamily Project in Harrison, New Jersey

by Taylor Williams August 2, 2023

HARRISON, N.J. — Locally based developer Advance Realty Investors has completed The Wyldes, a 399-unit multifamily project in the Northern New Jersey community of Harrison. The five-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, custom cabinetry and individual washers and dryers. Amenities include a rooftop lounge with a bar and TVs; landscaped courtyard with fire pits and gaming areas; resort-style pool with grilling and dining stations; commercial-grade demonstration kitchen; coworking lounge with private offices and conference facilities; a billiards room with a media lounge and kitchenette; and a two-level fitness center with a yoga studio. Roughly 25 percent of the units are preleased, with rents starting in the mid-$2,000s per month.

August 2, 2023

Affordable Housing Development Multifamily New York Northeast

Douglaston Development Nears Completion of 188-Unit Affordable Seniors Housing Project in The Bronx

by Taylor Williams July 31, 2023

NEW YORK CITY — Locally based firm Douglaston Development is nearing completion of a 188-unit affordable seniors housing project in The Bronx. The 12-story building at 2856 Webster Ave., which is adjacent to the New York Botanical Garden (NYBG), represents Phase I of a larger development. Phase II consists of 277 affordable seniors housing residences and 8,000 square feet of retail space. Units are reserved for households earning 50 percent or less of the area median income. Douglaston is developing the project through a 99-year ground lease with NYBG. Stephen B. Jacobs Group is the project architect, and Levine Builders is the general contractor and construction manager. The first move-ins are now underway.

July 31, 2023

Development Multifamily Texas

JPI Breaks Ground on 450-Unit Multifamily Project in Grand Prairie, Texas

by Taylor Williams July 26, 2023

GRAND PRAIRIE, TEXAS — Locally based developer JPI has broken ground on Phase I of Jefferson Loyd Park, a multifamily project in the central metroplex city of Grand Prairie that will add 450 units to the local supply. The development will consist of eight three-story buildings on a 25-acre site. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool and a fitness center. Completion of Phase I is slated for early 2025. Construction of Phase II of Jefferson Loyd Park, which will feature 352 units, is set to commence later this year. Other project partners include Demarest (architect), Kimley-Horn (civil engineer) and Happy State Bank (construction lender).

July 26, 2023

Build-to-Rent Development Single-Family Rental Texas

Welker Properties to Develop 343-Unit Build-to-Rent Residential Project in Melissa, Texas

by Taylor Williams July 26, 2023

MELISSA, TEXAS — Dallas-based Welker Properties will develop a 343-unit build-to-rent residential project in Melissa, located north of Dallas in Collin County. The project, known as Wolf Creek Farms Melissa BTR, has a total price tag of $95 million. Homes will come in one-, two- and three-bedroom floor plans and will be situated on a 32-acre site. Residents will have access to amenities such as a pool, fitness center, dog park, courtyards and lounges. Construction is scheduled to begin in the fall and to be complete by the end of 2025.

July 26, 2023

Development New York Northeast Office

Bromley Cos. Completes $100M Renovation of Office Building in Manhattan’s Union Square

by Taylor Williams July 26, 2023

NEW YORK CITY — Locally based owner-operator Bromley Cos. has completed the $100 million renovation of 122 Fifth Avenue, a 300,000-square-foot office building in Manhattan’s Union Square neighborhood. The repositioning added a new rooftop pavilion and bike storage room, enhanced the office and retail suites and upgraded the building infrastructure. According to New York Post, Microsoft anchors the building’s office space, having taken occupancy of floors six through 10 following completion of the project. Bromley Cos. first purchased 122 Fifth Avenue in 1979.

July 26, 2023

Development Multifamily Texas

Partnership Breaks Ground on 436-Unit Multifamily Project in Carrollton, Texas

by Taylor Williams July 25, 2023

CARROLLTON, TEXAS — A partnership led by Atlanta-based Integral Group has broken ground on EVIVA Trinity Mills, a 436-unit multifamily project located in the northern Dallas metro of Carrollton. The project is being developed as part of Trinity Mills Station, a 25-acre urban village located adjacent to a Dallas Area Rapid Transit (DART) Green Line Station. The community will house studio, one- and two-bedroom units and roughly 11,000 square feet of retail space. Completion is slated for November 2025. Other members of the development team include Koa Partners and Artemis Real Estate Partners.

July 25, 2023

Development Industrial Oklahoma Texas

Seefried Industrial Underway on 842,043 SF Project for Aerospace Manufacturer in Oklahoma City

by Taylor Williams July 24, 2023

OKLAHOMA CITY — Atlanta-based developer Seefried Industrial Properties, in partnership with Truist Securities, is underway on construction of an 842,043-square-foot, build-to-suit project in Oklahoma City. The new facility will act as a hub for depot support for the military engines of Pratt & Whitney, which are maintained at Tinker Air Force Base. The facility, which is expandable to 942,000 square feet, will feature an 86,000-square-foot office component, and future development plans include an adjacent, 100,000-square-foot training facility. In addition, the main warehouse will offer 40-foot clear heights, up to 120 dock-high doors, six grade-level doors, 515 auto parking stalls (including EV charging spots) and 103 trailer spaces. Construction is slated for a second-quarter 2024 completion.

July 24, 2023

Development Multifamily New York Northeast

Partnership Completes 249-Unit Apartment Complex in Mount Vernon, New York

by Taylor Williams July 24, 2023

MOUNT VERNON, N.Y. — A partnership between Alexander Development Group, The Bluestone Organization and J.P. Morgan Global Alternatives has completed 42 Broad, a 249-unit apartment complex in Mount Vernon, located north of New York City. Designed by Perkins Eastman, the 16-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, walk-in showers and individual washers and dryers. Amenities include a pool, fitness center, outdoor kitchens, game room, lobby lounge, coworking spaces, library and a zen garden, as well as ground-floor retail space. Rents start at $2,100 for a studio apartment.

July 24, 2023

Development Industrial Texas

Provident Realty Advisors Breaks Ground on 1.3 MSF Distribution Center in Metro Houston

by Taylor Williams July 20, 2023

BAYTOWN, TEXAS — Dallas-based developer Provident Realty Advisors has broken ground on Port 99, a 1.3 million-square-foot distribution center in Baytown, located near Port Houston on the city’s eastern outskirts. The development’s multiple buildings will have front-load and cross-dock configurations, clear heights of 32 to 40 feet, 271 dock-high doors, six grade-level doors and combined parking for 437 cars and 1,184 trailers. Construction is slated for a second-quarter 2024 completion. Lee & Associates is marketing the development for lease.

July 20, 2023

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