development1

Lowe, BCG Holdings, Q Factor Break Ground on $144M Post House Mixed-Use Project in Salt Lake City

by Amy Works June 30, 2020

SALT LAKE CITY — A partnership between Lowe Property Group, BCG Holdings and Q Factor has broken ground on Post House. The mixed-use, pedestrian-friendly development will be located in Salt Lake City’s downtown Post District. MVE + Partners designed Post House, which will feature five buildings offering a total of 580 residential units, 22,405 square feet of retail space and 86,000 square feet of private and public outdoor space. Completion of the 488,765-square-foot project is scheduled for spring 2023, with the first residential and retail units slated to open in spring 2022. The current site holds features a variety of existing mixed-use industrial buildings, including the Newspaper Agency Corp. Building, that will be integrated into the community’s plan. The community’s walkable ground level will include 22,000 square feet of retail space, including Post House Market, a multi-tenant market hall. Comprising 461,921 square feet of rentable space, Post House Apartments will offer units ranging from 385 square feet to 2,030 square feet. Amenities will include lofts and private outdoor space, including four rooftop decks with firepits, bars, lounges, seating and barbecue grills. Additionally, the property will feature two private outdoor courtyards featuring a series of indoor/outdoor pools and a 5,604-square-foot fitness …

June 30, 2020

Development Illinois Midwest Multifamily

City Club Apartments Breaks Ground on Phase II of Chicago Apartment Property

by Kristin Harlow June 30, 2020

CHICAGO — City Club Apartments (CCA) has broken ground on the second phase of MDA within downtown Chicago’s Loop. The first phase was a 23-story historic building dating back to 1927 that CCA redeveloped into apartments in 2006. Phase II will include the addition of a new seven-story building that will add 81 units to the existing 190 apartments and penthouses. A new rooftop sky park will include a heated outdoor pool, outdoor theater, grill stations, cabanas and lounge seating. The sixth floor will house a clubroom and conference room that will connect to Phase I via a skybridge. Phase I and II residents will have access to combined amenities, including a library, fitness center, bark park and concierge services. The first residents are expected to begin moving into Phase II in March 2021. The initials MDA are derived from the building’s original name, the Medical & Dental Arts Building. Detroit-based CCA currently has four communities under construction — two in Detroit, one in Kansas City and one in Chicago.

June 30, 2020

Development Industrial Midwest Wisconsin

Ashley Capital Begins Development of Third Building at Wisconsin’s Enterprise Business Park

by Kristin Harlow June 30, 2020

STURTEVANT, WIS. — Ashley Capital has begun development of a 397,000-square-foot speculative industrial building at Enterprise Business Park in Sturtevant, located 27 miles south of Milwaukee. It is the third building to be constructed at the park, which will comprise over 1.3 million square feet of Class A industrial space upon completion. The new building is slated for completion in December. It will feature a clear height of 36 feet. John Sharpe and Tom Boyle of Lee & Associates and Terry McMahon and Cody Ziegler of Cushman & Wakefield | Boerke are exclusive marketing agents for the property. Berghammer Construction Corp. is the general contractor. Ashley Capital, a privately owned industrial real estate investment and development firm, has offices in Atlanta, Chicago, Detroit and New York.

June 30, 2020

Development Mixed-Use New York Northeast Office

Innovo Property Group Completes 210,000 SF Office Project at Mixed-Use Building in Queens

by Alex Patton June 29, 2020

NEW YORK CITY — Innovo Property Group, a New York City-based developer, has launched 210,000-square-feet of office space in the Long Island City neighborhood of Queens. The space is located on two floors of The Bridge, an 830,000-square-foot mixed-use building located at 24-02 49th Ave. and can be adapted for coworking or shared office use. The building was originally completed in 1928 as an industrial facility and once served as a warehouse for Bloomingdale’s. The New York City Housing Authority holds a 30-year lease for 600,000 square feet of at the building.

June 29, 2020

Development Office Texas

Granite Properties to Undertake 623,624 SF Office Redevelopment Project in Uptown Dallas

by Taylor Williams June 29, 2020

DALLAS — Granite Properties will redevelop Cedar Maple Plaza, an office complex located at the corner of Cedar Springs Road and Maple Avenue in Uptown Dallas. Granite will rebrand the new 623,624-square-foot mixed-use office property as 23Springs. The locally based developer will demolish three existing buildings on the 2.5-acre site and build a 26-story office tower, two detached buildings that will house 16,000 square feet of restaurant space and a small park. Amenities at 23Springs will include a coffee and wine bar, fitness studio, conference facilities and a tenant lounge with a golf simulator. GFF is the project architect, and DPR is the general contractor. Granite has received all necessary permits and entitlements and expects to begin construction in the first quarter of 2021.

June 29, 2020

Development Illinois Midwest Multifamily

Vermilion Tops Off Luxury Condo Building in Chicago’s Wicker Park

by Kristin Harlow June 29, 2020

CHICAGO — Vermilion Development has topped off Alcove Wicker Park, a 43-unit, luxury condominium building set to deliver this fall in Chicago’s Wicker Park neighborhood. Hirsch MPG Architecture designed the seven-story building and @properties Developer Services is the sales and marketing firm. Floor plans range from 1,365 to 2,430 square feet, and each condo unit features its own balcony or terrace measuring at least 8 feet. The first condo buyers are expected to take occupancy in early October. Prices range from $600,000 to $1.1 million. The project also features 12 adjacent townhomes that range in size from 2,895 to 3,475 square feet. The for-sale, four-level townhomes range from $1.1 million to $1.4 million. The townhomes are slated for completion in late November and each feature their own bonus room and private roof deck.

June 29, 2020

Development Illinois Midwest Restaurant Retail

Principle Construction Completes Conversion of Auto Dealership into Brewery in Huntley, Illinois

by Kristin Harlow June 29, 2020

HUNTLEY, ILL. — Principle Construction Corp. has completed the conversion of a former Chevrolet auto dealership in Huntley into a brewing facility and full-service restaurant for More Brewing. The property is located at 13980 Automall Drive within metro Chicago. The 25,302-square-foot building includes 11,302 square feet of beer production space and a 14,000-square-foot restaurant with two private dining rooms that will double as barrel-aging rooms. Guests dining at the restaurant will be able to view the brewing area through 12-foot glass walls. The property features four drive-in doors for the distribution of More’s products and 114 car parking spaces for customers and employees. Harris Architects provided architectural services. Dominic Carbonari of JLL provided brokerage services on behalf of More. A timeline for opening was not disclosed.

June 29, 2020

Washington Building Apartments in downtown Tacoma, Wash.

Development Multifamily Washington Western

Unico, Pinnacle Partners Plan 156-Unit Washington Building Apartments Adaptive Reuse Project in Tacoma

by Amy Works June 29, 2020

TACOMA, WASH. — Unico Properties and Pinnacle Partners have unveiled development plans for Washington Building Apartments, an adaptive reuse of the 1925-built historic building in downtown Tacoma. Demolition work is slated to begin in July followed by 21 months of construction, set to start before the end of the year. The 18-story development, scheduled for completion in early summer 2022, will feature 156 vintage apartments and a rooftop amenity deck. The project will be redeveloped as part of a single-asset joint venture between Unico and Pinnacle Partners’ respective Qualified Opportunity Zone Funds (QOZF), which acquired the asset in May. Unico is developing the $60 million project on behalf of its and Pinnacle Partners’ QOZF investors.

June 29, 2020

Alabama Development Multifamily Southeast

Kalikow Group, EYC to Develop $67M Residential Community in Huntsville

by Alex Tostado June 26, 2020

HUNTSVILLE, ALA. — Kalikow Group and EYC Cos. will develop Anthem, a $67 million, 406-unit apartment community spanning 40 acres in Huntsville. The developers expect to begin leasing in second-quarter 2021 with construction slated to be complete in early 2022. The developers secured a $42 million syndication loan from IberiaBank and Trustmark Bank. The property will comprise three-story walk-up buildings, one- and two-story single-family homes and duplexes. The single-family homes and duplexes will feature private yards and detached garages. Communal amenities will include a playground, herb garden, dog park, two saltwater pools, two clubhouses and community greens. Unit interiors will include 10-foot ceilings, gas appliances, quartz countertops, LED lighting and vinyl plank flooring. The property will be situated just west of Research Park Boulevard, near Cummings Research Park and Redstone Arsenal.

June 26, 2020

Development Indiana Midwest Multifamily

Milhaus Opens $30.4M Apartment Project in Downtown Indianapolis

by Kristin Harlow June 26, 2020

INDIANAPOLIS — Milhaus has opened Grid, a $30.4 million apartment project located at 520 E. Washington St. in downtown Indianapolis. Grid includes 175 apartment units and 175 car parking spaces. Amenities include coworking spaces, multiple fitness areas, an outdoor courtyard, bark park, pet spa, coffee bar and resident lounge. The property serves as Milhaus’ first opportunity zone investment in the U.S. Milhaus says that Grid’s prominent location in the Cole Noble neighborhood served as inspiration for the property name. Indianapolis was originally plotted on a grid structure upon its founding in 1820. Local artist Jackie Head created a mural for the northwest corner of the building. The project team included KTGY Architecture + Planning, Civil & Environmental Consultants Inc. and DkGr.

June 26, 2020

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