development1

NewQuest Properties to Develop $62M Multifamily Project in Metro Houston

by Taylor Williams July 19, 2023

HOUSTON — An affiliate of locally based developer NewQuest Properties will develop a $62 million, 294-unit multifamily project within The Grand at Aliana, a shopping and dining destination in metro Houston. The development’s 11 residential buildings will house studio, one-, two- and three-bedroom units that will range in size from 594 to 1,482 square feet. Amenities will include a pool, fitness center, business center, outdoor grilling and dining stations and a dog park. Dallas-based Humphreys & Partners designed the property. Construction is set to begin in September, and completion is slated for June 2025.

July 19, 2023

Development Multifamily New York Northeast

NRP Group, RPW Group Complete 303-Unit Multifamily Project in White Plains, New York

by Taylor Williams July 19, 2023

WHITE PLAINS, N.Y. — A partnership between Cleveland-based developer The NRP Group and local owner-operator RPW Group has completed The Halden, a 303-unit multifamily project located north of New York City in White Plains. The site at 1133 Westchester Ave. spans 70 acres and is adjacent to a 620,000-square-foot office complex that formerly served as IBM’s world headquarters. The three-building community houses one-, two- and three-bedroom units that are furnished with quartz countertops, stainless steel appliances and in-unit washers and dryers. Amenities include a pool, fitness center, children’s play area and outdoor grilling and dining stations. Rents start at $2,800 per month for a one-bedroom apartment.

July 19, 2023

Development Industrial Self-Storage Texas

2GR Equity, Connell Realty Complete 570-Unit Self-Storage Facility in Waxahachie, Texas

by Taylor Williams July 18, 2023

WAXAHACHIE, TEXAS — A joint venture between two locally based firms, 2GR Equity and Connell Realty Services Inc., has completed construction of Cardinal Self Storage, a 570-unit facility located in the southern Dallas suburb of Waxahachie. Dallas-based Lone Star Self Storage will operate the 76,000-square-foot facility, which is located at the corner of State Highway 77 and Cardinal Road. Merriman Anderson Architects designed the project, and Simmons Bank provided construction financing.

July 18, 2023

Ellis-Street-Commons-New-Britain-Connecticut

Affordable Housing Connecticut Development Multifamily Northeast

WinnDevelopment Breaks Ground on $85M Affordable Housing Redevelopment in New Britain, Connecticut

by Taylor Williams July 18, 2023

NEW BRITAIN, CONN. — WinnDevelopment has broken ground on an $85 million redevelopment project in New Britain, located outside of Hartford, that will convert a historic industrial facility into a 154-unit affordable housing complex. The four-building site formerly housed the 115-year-old manufacturing facility for household appliances provider Landers, Frary & Clark. The new community will be known as Ellis Street Commons and will feature 79 one-bedroom units, 59 two-bedroom residences and 16 three-bedroom apartments. Units will be reserved for renters earning between 30 and 80 percent of the area median income. Amenities will include a fitness center, community room, game room and flexible workspaces. The Connecticut Department of Housing provided $4 million in state funding for the project, and the National Housing Trust Fund made a $3.8 million federal contribution. The Connecticut Housing Finance Authority provided an undisclosed amount of tax credit equity and tax-exempt bonds for the project. The first units are expected to be available for occupancy in mid-2025.

July 18, 2023

Extra-Space-Storage-Huntington-Station-New-York

Development Industrial New York Northeast Self-Storage

Realty Capital, DXD Underway on 664-Unit Self-Storage Facility on Long Island

by Taylor Williams July 17, 2023

HUNTINGTON STATION, N.Y. — A partnership between Dallas-based investment firm Realty Capital Partners and self-storage developer DXD Capital is underway on construction of a 664-unit facility in the Long Island community of Huntington Station. The facility will total 62,125 net rentable square feet of space that will be entirely climate-controlled. Construction began in June and is expected to be complete in August 2024. Extra Space Storage will operate the facility, which will be the first new self-storage project to be built in Huntington Station in nearly three years, according to the development team.

July 17, 2023

Development Multifamily Northeast Pennsylvania Seniors Housing

Marquis Launches $25M Renovation Project at Philadelphia Seniors Housing Community

by Taylor Williams July 14, 2023

PHILADELPHIA — Marquis Health Consulting Services has launched the first phase of a $25 million renovation at Fountain View at Logan Square, a 420,000-square-foot seniors housing community in Philadelphia’s Center City district. The three-year repositioning follows an ownership change and rebranding at Fountain View, formerly known as The Watermark. Designed by ML Group, the project will upgrade the lobby, hallways, apartments and dining room, as well as reconfigure amenity spaces. New features will include an auditorium with space for live entertainment, a makers’ room, theater, piano bar and a sky lounge. Lastly, the development team will add a juice bar and fitness center with a sauna and is exploring possible additions of a pool, outdoor deck and pickleball courts.

July 14, 2023

Development Multifamily Texas

McNair Interests Breaks Ground on 221-Unit Multifamily Project in Houston

by Taylor Williams July 12, 2023

HOUSTON — Locally based developer McNair Interests has broken ground on Phase II of Remy on the Trails, a 221-unit multifamily project in Houston’s Westchase neighborhood. The site at 10505 Deerwood Road spans 6.8 acres. The complex will house one-, two- and three-bedroom units that will range in size from 900 to 1,500 square feet. Amenities will include a pool, fitness center, clubroom, dog park and outdoor grilling and dining stations. Project partners include Cadence Bank (construction lender), Arch-Con Corp. (general contractor), The Preston Partnership (lead architect), MaRS (interior design) and Kimley-Horn (landscape design). The first move-ins are expected to begin in summer 2024.

July 12, 2023

Affordable Housing Development Multifamily Texas

Palladium USA Breaks Ground on $48M Affordable Housing Community in McKinney, Texas

by Taylor Williams July 10, 2023

MCKINNEY, TEXAS — Dallas-based owner-operator Palladium USA has broken ground on a $48 million affordable housing community in McKinney. The four-story complex will house one-, two- and three-bedroom units and amenities such as a pool, children’s play area, clubroom with a communal kitchen, fitness center, dog park and a computer lounge. Cross Architects designed the project, and Treymore Construction is the general contractor. The Texas Department of Housing & Community Affairs issued $23 million in tax-exempt bonds for the project that were purchased by Cedar Rapids Bank & Trust. PNC Bank also provided over $19 million in equity. Palladium is developing the project in partnership with The McKinney Housing Finance Corp. The first units are set to be delivered in late 2024.

July 10, 2023

Development Multifamily Northeast Pennsylvania

National Real Estate, KRE Group Top Out 360-Unit Multifamily Project in Philadelphia

by Taylor Williams July 10, 2023

PHILADELPHIA — A partnership between National Real Estate Advisors and New Jersey-based Kushner Real Estate Group has topped out The Noble, a 360-unit multifamily project located at 200 Spring Garden St. in Philadelphia’s Northern Liberties neighborhood. Designed by Handel Architects, the 13-story building will house Class A amenities including a pool, coworking lounge, party room, juice bar, dog run and 10,000 square feet of public green space. City Fitness will anchor the retail component with a 17,000-square-foot facility. Preleasing will begin in December, and the first units are expected to be available for occupancy in the first quarter of 2024.

July 10, 2023

Princeton-West-Innovation-Campus-Hopewell

Development Life Sciences New Jersey Northeast

Lincoln Equities, H.I.G. to Develop 380,000 SF Life Sciences Project in Hopewell, New Jersey

by Taylor Williams July 7, 2023

HOPEWELL, N.J. — A partnership between Lincoln Equities Group and New York City-based H.I.G. Realty will develop a three-building, 380,000-square-foot life sciences project in Hopewell, located just outside of Trenton. The site is located within Princeton West Innovation Campus, which is a redevelopment of the former campus of pharmaceutical giant Bristol Myers Squibb. The campus also features 250,000 square feet of traditional office space, and 200 acres of the site have been preserved as farmland and open public space. JLL handles leasing of Princeton West Innovation Campus. Construction is expected to begin in January. The partnership acquired the property in summer 2020.

July 7, 2023

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