development1

Capitol Seniors Housing Completes Development of 86-Unit Facility in Suburban Chicago

by Kristin Harlow September 1, 2020

HIGHLAND PARK, ILL. — Developer Capitol Seniors Housing has completed the development of Atria Highland Park, an 86-unit assisted living and memory care community in the Chicago suburb of Highland Park. Atria Senior Living operates the three-story, 72,000-square-foot property. Designed by Mosely Architects and StudioSix5, the community includes amenities such as a library, theater, art studio, multi-purpose room, fitness center, wellness center, restaurant, bistro and private dining room. There are 22 memory care suites. The community sits on 2.6 acres near the Sunset Valley Golf Course. Core Construction was the general contractor.

September 1, 2020

Development Midwest Multifamily Seniors Housing Wisconsin

New Perspective Opens 128-Unit Senior Living Community in Waukesha, Wisconsin

by Kristin Harlow August 31, 2020

WAUKESHA, WIS. — New Perspective has opened New Perspective Waukesha, a 128-unit independent living, assisted living and memory care community in the Milwaukee suburb of Waukesha. Amenities include a pool, dance hall, fitness center, café, movie theater and enclosed courtyard. This is the second community that the owner-operator has opened in the past two months. New Perspective’s portfolio consists of 24 communities in Minnesota, North Dakota, Wisconsin and Illinois.

August 31, 2020

Development Midwest Minnesota Office

Bridgewater Bank Opens New Corporate Headquarters in St. Louis Park, Minnesota

by Kristin Harlow August 28, 2020

ST. LOUIS PARK, MINN. — Bridgewater Bank, a local Twin Cities bank, has opened its new corporate headquarters in St. Louis Park near Minneapolis. Known as Bridgewater Corporate Center, the development is located at the corner of Excelsior Boulevard and Monterey Drive. The four-story, 84,000-square-foot building includes a Bridgewater retail branch on the ground floor. Operations and administrative offices are located on the second and third floors. Other tenants include Hazelwood Food & Drink and boutique fitness studio Discover Strength, both of which will open to the public in early 2021. Ironmark Building Co., The Bainey Group, DJR Architecture and Momentum Design Group made up the project team.

August 28, 2020

Development Multifamily Southeast Student Housing Tennessee

Annex Group to Develop $19.1M Student Housing Community Near University of Memphis

by Alex Tostado August 28, 2020

MEMPHIS, TENN. — The Annex Group will develop Annex of Memphis, a 208-bed student housing community near the University of Memphis. The Indianapolis-based developer expects development costs to total $19.1 million. The property will offer studio, two-, three- and four-bedroom floor plans. Rents will range from $1,050 per month per student for studios down to $705 per month for four-bedroom units. Communal amenities will include a fitness center and covered parking. The Annex of Memphis will be situated at 3601 Midland Ave., two blocks from campus and seven miles east of downtown Memphis. The Annex Group expects to break ground in the coming weeks and will welcome its first students in summer 2021. Axis Architecture + Interiors designed the community, which Granite Student Living will manage upon completion. First Merchants Bank is providing construction financing.

August 28, 2020

Mercer-Industrial-Park-Hamilton-New-Jersey

Development Industrial Loans Northeast

PCCP Provides $98M Construction Loan for Industrial Park in Hamilton, New Jersey

by Taylor Williams August 28, 2020

HAMILTON, N.J. — PCCP has provided a $98 million senior loan for the construction of Mercer Industrial Park, a 1.2 million-square-foot industrial development in Hamilton Township, located just outside of Trenton. The borrower is a joint venture between Hilco Redevelopment Partners and Edge Principal Advisors, which acquired the 132-acre former power plant in late 2018 and embarked on intensive demolition and site work. Mercer Industrial Park will consist of an 846,078-square-foot cross-dock building as well as a 384,895-square-foot partial cross-dock building with a combined 358 trailer parking spaces and 1,248 car surface parking spaces. Both buildings will feature 40-foot clear heights. Completion is scheduled for early 2021.

August 28, 2020

Colorado Development Multifamily Retail Western

Greystar Completes 13-Story The Pullman Apartment, Retail Community in Denver

by Amy Works August 28, 2020

DENVER — Greystar, as owner and operator, has completed the construction of The Pullman, an apartment and retail community located at 1959 Wewatta St. in Denver’s Union State neighborhood. Designed by The Mulhern Group, the 13-story property features 168 apartments in a mix of one-, two- and three-bedroom layouts plus two-story penthouses. Units range from 819 square feet to 3,784 square feet and offer KitchenAid gas cooktops, quartz countertops, engineered hardwood flooring and custom wood cabinetry. Penthouses suites include in-wall fireplaces, secondary butler’s entrances, full-body showers and Wolf and Subzero appliances. Community amenities include a hotel-style lobby, 8,000-square-foot rooftop and spa terrace, outdoor kitchen and dining area, fitness center and yoga studio, billiards lounge with wet bar, pet spa, bicycle storage, demonstration kitchen, members-only club room, and a coffee and tea bar. The property also features 3,500 square feet of ground-floor retail space, plus above- and below-ground structured parking for 212 vehicles.

August 28, 2020

Development Georgia Multifamily Southeast

Mill Creek to Develop 194-Unit Multifamily Community in Metro Atlanta

by Alex Tostado August 27, 2020

DECATUR, GA. — Mill Creek Residential will develop Modera Decatur, a 194-unit multifamily community in Decatur. The Atlanta-based developer expects to immediately break ground with plans to open the community in fall 2022. Modera Decatur will be situated on 2.1 acres at 163 Clairemont Ave., six miles northeast of downtown Atlanta. Communal amenities will include a pool, clubroom, fitness center, rooftop lounge and a fire pit, as well as 24,500 square feet of retail space on the ground floor. Modera Decatur will be Mill Creek’s ninth community in Atlanta.

August 27, 2020

Development Michigan Midwest Multifamily

Public-Private Partnership Breaks Ground on $36.3M Mixed-Income Development in Midtown Detroit

by Kristin Harlow August 27, 2020

DETROIT — Developers Preservation of Affordable Housing (POAH) and Develop Detroit have broken ground on a $36.3 million mixed-income development in Midtown Detroit’s Sugar Hill Arts District. Slated for completion in late 2021, the project will occupy what is currently a vacant lot on the northwest corner of John R and Garfield streets. The development will include 68 apartment units, 11,900 square feet of retail space and 164 parking spaces. Fourteen of the units will be set aside for residents who earn 30 to 60 percent of the area median income. The project site is located across from the John D. Dingell VA Medical Center. As such, many of the affordable units be dedicated to homeless veterans. Midtown Detroit Inc. plans to develop an outdoor green space adjacent to the building. In addition to the affordable housing component, the project is significant because it is one of the last designed by Phil Freelon, a celebrated black architect who passed away last year. The project team includes general contractor Whiting-Turner and architects Perkins & Will and McIntosh Poris. VM3 Consulting Corp. is working to engage minority- and women-owned firms as well as Detroit-based workers. Project funding comes from the City of …

August 27, 2020

Development Illinois Midwest Office

J.C. Anderson to Complete 109,000 SF Office Build-Out for Bosch in Oakbrook Terrace, Illinois

by Kristin Harlow August 27, 2020

OAKBROOK TERRACE, ILL. — J.C. Anderson has been selected to complete a 109,000-square-foot office build-out for German engineering and technology company Bosch at One Tower Lane in Oakbrook Terrace. The project encompasses the top five floors of the 31-story office building as well as a 15,883-square-foot separate commercial space at the property known as “The Annex.” Bosch plans to relocate about 350 employees from its automotive aftermarket division in Broadview to the new space in Oakbrook Terrace. Scheduled for completion in November, the project will include the addition of conference rooms, private offices and open seating areas. The annex portion will serve as a testing and lab facility. Whitney is the project architect and Cushman & Wakefield is providing project management services.

August 27, 2020

California Civic Development Mixed-Use Restaurant Retail Western

Plenitude Holdings Plans 87-Acre Sports Entertainment Project Near Los Angeles

by Amy Works August 26, 2020

CARSON, CALIF. — Plenitude Holdings, a real estate investment partnership between Blanchard Entities and Shopoff Realty Investments affiliated entities, is developing The Creek at Dominguez Hills in Carson. Located off the 405 Freeway and north of East Del Amo Boulevard, the 87-acre development will offer more than 500,000-square-feet of retail, recreation and sports wellness space. In addition to retail, the project will feature a 199,000-square-foot, multi-use indoor sports complex designed to accommodate basketball and volleyball practice and team competitions, along with indoor turf training areas and a mezzanine level for viewing the courts below. The facility will be accessible to local sports groups, and open for daily community use and fitness programming. Additionally, The Creek at Dominguez Hill will offer more than eight acres of open space, including a three-kilometer jogging path, a 6.6-acre community park, a zipline and ropes course, and a clubhouse featuring a rooftop deck suitable for community and special events. Plenitude Holdings is finalizing the development plans and expects to break ground in mid-2021. The company has retained Sports Facilities Management to manage the property and partnered with FlyingTee, an active entertainment, golf and dining company, for their first location in California. FlyingTee will offer private …

August 26, 2020

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