development1

Midas Hospitality Opens First Aloft Hotel in St. Louis

by Kristin Harlow June 9, 2020

ST. LOUIS — Midas Hospitality has opened the St. Louis region’s first Aloft hotel in the heart of the 200-acre Cortex Innovation Community. The Aloft by Marriott hotel is located at 4245 Duncan Ave. and offers 129 rooms. Amenities include a fitness center, indoor pool, bar and two meeting rooms. The fitness center is closed until June 15 per St. Louis guidelines for the coronavirus. The five-story hotel is the 12th hotel Midas will manage in the greater St. Louis region, bringing its total hotel count nationwide to 40. The Aloft brand “caters to today’s modern traveler who craves jet-setting style and a vibrant social scene at an affordable price,” says Midas. The Cortex Innovation Community is a technology and science-driven district in the Midtown neighborhood of St. Louis. It serves as the main location for many of the city’s technology startups.

June 9, 2020

Development Multifamily Texas

MRE Capital to Redevelop Historic Lubbock Office Tower as Multifamily Community

by Taylor Williams June 8, 2020

LUBBOCK, TEXAS — Kansas-based MRE Capital LLC will redevelop NTS Tower, a historic building in downtown Lubbock that was built in 1955, as a multifamily community that will be branded Metro Tower Lofts. The new property will add a total of 89 residences in studio, one-, two- and three-bedroom floor plans to the local supply. Amenities will include a fitness center and onsite laundry facilities, and the ground floor will house office space. Atlanta-based Monarch Private Capital secured an undisclosed amount of historic tax credit equity for the project. At 274 feet, NTS Tower is currently the tallest building in the city.

June 8, 2020

California Development Multifamily Western

Phoenix Development, Integrity Housing Plan Dutton Flats Affordable Apartments in Santa Rosa, California

by Amy Works June 8, 2020

SANTA ROSA, CALIF. — Phoenix Development Co., in partnership with Irvine, Calif.-based Integrity Housing, has closed financing and started construction on Dutton Flats Apartments in Santa Rosa. Located at 214 W. Third St., Dutton Flats Apartments will feature 40 affordable apartments to serve low-income families with children, along with one manager’s unit. The apartments will feature a great room with an open kitchen, dining and living area, as well as Energy Star appliances, LED lighting, high-efficiency heating and energy-conserving windows and insulation. Community amenities will include a community room, laundry room, technology center, bike repair area, fitness center, children’s activity room and picnic/barbecue area. The community is located in downtown Santa Rosa and in close proximity to schools and employment. Additionally, the property will feature a bus shelter for ease of transportation to off-site services. Dutton Flats is owned by Dutton Flats LP, consisting of Phoenix Development Co., Integrity Housing and Berkadia. Exchange Bank loaned $13 million for construction, while The Housing Authority of the City of Santa Rosa provided an additional $3.1 million. Precision General Commercial Contractors is building the property, which KTGY Architecture & Planning designed. FPI Management will manage the completed community.

June 8, 2020

Arizona Development Multifamily Western

Optima, Principal Real Estate Investors Develop 213-Unit Apartment Tower at Optima Kierland Center in Scottsdale

by Amy Works June 5, 2020

SCOTTSDALE, ARIZ. — A joint venture partnership between Optima and Principal Real Estate Investors is developing 7140 Optima Kierland, a multifamily property located within Optima Kierland Center in North Scottsdale. As the second residential tower within Optima Kierland Center, the 12-story building will feature 213 apartments in a mix of one-, two- and three-bedroom layouts ranging in size from 737 square feet to 2,225 square feet. Units will feature plank flooring, solar shades, floor-to-ceiling glass walls and an outdoor terrace. Residential amenities will include a rooftop pool, lounge and running track; outdoor spa with a steam room, sauna and hydrotherapy; fitness center; cool plunge and hot spa; full-court indoor basketball court; co-working spaces; dog park and pet spa; electronic gaming room; and golf simulator. Additional amenities will include outdoor spaces with barbeques and fire pits; event and party spaces with retractable glass walls; an outdoor bar, lounge and kitchen; and an indoor theatre and game room. Construction of the new tower is well underway, with first move-ins scheduled for August.

June 5, 2020

Development Hospitality Texas

NewcrestImage Opens 150-Room Canopy by Hilton Hotel at Frisco Station

by Taylor Williams June 5, 2020

FRISCO, TEXAS — Locally based developer NewcrestImage has opened a 150-room Canopy by Hilton hotel at the 242-acre Frisco Station mixed-use development north of Dallas. Guest rooms feature the distinctive canopy headboard that reaches the ceiling and overhangs the bed. The property is part of a campus of four hotels totaling 600 rooms that is being developed by NewcrestImage. An AC Hotel and a Residence Inn, both totaling 150 rooms, have been operational since August 2019. A 150-room Hyatt Place hotel will follow, though a construction start date has not yet been established.

June 5, 2020

Development Georgia Retail Southeast

Branch Properties to Develop $29M Publix-Anchored Shopping Center in Metro Atlanta

by Alex Tostado June 5, 2020

DUNWOODY, GA. — Branch Properties will develop Perimeter Marketplace, a planned 39,150-square-foot shopping center in Dunwoody. A 25,147-square-foot Publix will anchor the property. The developer expects to deliver the project in fall 2021. The 10-acre plot is located just north of Perimeter Mall, 17 miles north of downtown Atlanta. Young Contracting is the general contractor for the project, Phillips Partnership is the architect and Contineo Group is the civil engineer.

June 5, 2020

Development Illinois Midwest Multifamily

Ascend Delivers 12-Story Luxury Condominium Tower in Chicago’s River North

by Kristin Harlow June 5, 2020

CHICAGO — Ascend Real Estate Group has delivered Superior House, a 12-story, 33-unit luxury condominium tower located at 366 W. Superior St. in Chicago’s River North neighborhood. @properties Developer Services is the exclusive sales and marketing firm for the project, which is currently 70 percent sold. Prices range from $1.8 million to $2.5 million. FitzGerald Associates Architects designed the building to include only four units per floor in order to increase privacy and natural light. Power Construction was the general contractor and Gary Lee Partners designed the interiors and amenity spaces, which include a rooftop deck, outdoor bar and lounge, vegetable garden, fenced dog run, entertainment room and fitness center.

June 5, 2020

Development Midwest Missouri Office

Grand Place Slated to Be First WELL-Certified Project in Kansas City, Missouri

by Kristin Harlow June 5, 2020

KANSAS CITY, MO. — Grand Place is slated to be the first WELL-certified project in Kansas City. Similar to how the LEED building rating system measures sustainability and energy efficiency, the WELL standard measures a building’s health and wellness performance for its occupants. 3D Development, the developer of Grand Place, is also seeking LEED certification for the project, which involves the redevelopment of the former headquarters for The Kansas City Star newspaper. Building systems will be actively monitored for WELL standards. A third-party company will test and analyze the building’s air quality. The entire building will be equipped with a water filtration system. Upon completion, Grand Place will include 300,000 square feet of office space and a European-style market and grocery store. Floor plates will range from 5,000 to 40,000 square feet. The International WELL Building Institute, based in New York City, administers the WELL standard, which launched in October 2014.

June 5, 2020

Development Florida Multifamily Seniors Housing Southeast

Watercrest, Titan Development Open Seniors Housing Community in Metro Orlando

by Alex Tostado June 4, 2020

WINTER PARK, FLA. — Watercrest Senior Living Group and Titan Development Real Estate Fund I have opened Watercrest Winter Park Assisted Living and Memory Care, a 107-unit seniors housing community in Winter Park. Watercrest Winter Park features 75 assisted living and 32 memory care apartments. The property is located at 1501 Glendon Parkway, seven miles north of downtown Orlando. This is the second senior living development partnership between Watercrest and Titan Development. Titan Development Real Estate Fund I is a $200 million private equity real estate fund established in 2017 to raise and invest equity in approximately $600 million of Titan Development’s investment opportunities.

June 4, 2020

400-University-Rainier-Square-Seattle-WA

Development Office Washington Western

Wright Runstad, Intercontinental Real Estate Break Ground on 122,000 SF Office Building in Seattle

by Amy Works June 4, 2020

SEATTLE — Local developer Wright Runstad & Co., in partnership with Intercontinental Real Estate Corp., has broken ground on 400 University @ Rainier Square. The 10-story, Class A office building will be located at the southwest corner of University Street and Fourth Avenue in downtown Seattle. Totaling 122,000 square feet, the development will feature 110,000 square feet of office space above 12,000 square feet of street-level restaurant and lounge space. Additional features will include a subgrade mezzanine level, a 6,000-square-foot rooftop deck, third-floor terrace, bike storage, locker rooms with showers and dedicated tenant parking. The plans also include an underground concourse that connects to the Washington Athletic Club, Seattle Hilton, Union Square and the Washington State Convention Center. Upon completion in July 2021, the NBBJ-designed building will complete Rainier Square, a 1.2 million-square-foot mixed-use project Wright Runstad developed. Jeffery Weber and Jason Flynn of Eastdil Secured’s San Francisco office arranged the secured the joint venture partnership. Greg Inglin and David Abbott of Colliers International represent the office leasing team.

June 4, 2020

Newer Posts

Older Posts