development1

$41M Apartment Development to Open in Kansas City’s Stockyards District This Month

by Kristin Harlow May 4, 2020

KANSAS CITY, MO. — The Yards, a $41 million luxury apartment development, is scheduled to open in Kansas City’s Stockyards District this month. Located at 1660 Genessee St. in downtown Kansas City, the project features 232 apartment units and 3,150 square feet of retail space. The amenities, spread over approximately 9,500 square feet, includes a saltwater pool, outdoor area, community kitchen, activity lounge, fitness center and dog park. Residents can also use kayaks to access the Kansas River. Plans also call for a partnership with Amigoni Winery to create the first vineyard within an apartment community in Kansas City. Prospective residents can now schedule virtual tours and take advantage of two months of free rent and reduced fees. Monthly rental rates range from $825 to $1,650. Flaherty & Collins is the developer and KEM Studio is the architect.

May 4, 2020

Development Illinois Midwest Multifamily Seniors Housing

Skender Completes Construction of 60-Unit Senior Living Facility in Crystal Lake, Illinois

by Kristin Harlow May 4, 2020

CRYSTAL LAKE, ILL. — Skender has completed the construction of Residences of Crystal Lake, an affordable independent senior living facility in Crystal Lake. Turnstone Development owns the 60-unit, 63,000-square-foot property. Residents have access to a fitness area, theater room, community rooms, computer rooms, a gazebo and outdoor spaces. Residents must be age 55 or older and meet the annual income restriction. The project team included UrbanWorks, Groundwork, DKI and TH Associates. Turnstone is a nonprofit that has developed more than 1,680 affordable housing units in Illinois and Florida since 1998.

May 4, 2020

Connecticut Development Multifamily Northeast

Belfonti Cos. Breaks Ground on $50M Apartment Community in Cromwell, Connecticut

by Alex Patton May 1, 2020

CROMWELL, CONN. — Belfonti Cos. has broken ground on a $50 million luxury apartment community in Cromwell, a southern suburb of Hartford. Located off Country Squire Road near State Route 372, the property will feature of 160 units. Amenities will include a 4,500-square-foot community center, an outdoor swimming pool and a lounge area with grills and fire pits. The property will also be located four miles from the TPC River Highlands Golf Course. Construction is slated to be complete within the next two years.

May 1, 2020

Development Illinois Midwest Office

Vermilion Development to Build 18-Story Office Tower in Evanston, Illinois

by Kristin Harlow May 1, 2020

EVANSTON, ILL. — Vermilion Development has received approval from Evanston’s City Council to build a 210,000-square-foot, 18-story office tower located at 605 Davis St. in Evanston. The Class A property will be the first high-rise office building in Evanston in 20 years, according to Vermilion. Solomon Cordwell Buenz is the architect for the project, which is slated for completion as early as 2022. John Clark and Bill Rolander of Newmark Knight Frank will market the property for lease. Plans call for 15 floors of office space with conference and fitness facilities, a tenant lounge and an outdoor terrace. The building’s ground floor will house two retail suites as well as a lobby and bike room. The top two floors will feature private balcony access.

May 1, 2020

Company News Development Mixed-Use Office Southeast Virginia

Amazon Executive Says Company is ‘Beginning to Scale’ at HQ2 Campus in Northern Virginia

by John Nelson April 30, 2020

ARLINGTON, VA. — Amazon (Nasdaq: AMZN) is “beginning to scale” at its HQ2 campus underway in Arlington, according to Jay Carney, the company’s senior vice president of global corporate affairs. During a weekly webinar series conducted by Walker & Dunlop, Carney said the corporate campus, dubbed Met Park, is under construction and that the company is hiring in earnest, though he said it will “take some time” to reach the previously announced 25,000 goal. Carney, who was the former White House press secretary during President Barack Obama’s administration, led Amazon’s national HQ2 search in 2017 and 2018 to find a second home for the company outside of Seattle. The e-commerce giant ultimately chose both Northern Virginia and Long Island City in the Queens borough of New York City in late 2018, in addition to a 1 million-square-foot outpost in Nashville, Tenn. Amazon pulled out of its planned New York City location in early 2019. Clark Construction is the general contractor for the HQ2 campus, and JBG Smith is Amazon’s development partner, as well as its landlord for office space that Amazon is using in the rebranded National Landing district in Arlington’s Crystal City submarket. Carney said the company is not …

April 30, 2020

Development Illinois Midwest Multifamily

Hines Completes Development of 698-Unit Wolf Point East Apartment Tower in Chicago

by Kristin Harlow April 30, 2020

CHICAGO — Hines has completed the development of Wolf Point East, a 698-unit luxury apartment tower in Chicago. Units located on floors 41 through 55 are known as the Lake Collection. Monthly rents for these units range from $2,695 to $5,605, and residents will begin moving into the tower in mid-May. Units located on floors 56 through 58 comprise the Penthouse Collection. There are six units per floor that average 1,700 square feet. Residents will begin moving into the penthouses in July. For units located below floor 41, monthly rents range from $2,095 to $3,995. First move-ins for these units began in January. Wolf Point East’s amenity space spans three floors. Amenities include a full-floor fitness center as well as The Sports Club, which features social games, a golf lounge and swing simulator, an indoor pool and sundeck. Additional common areas can be found on the 40th floor, including a coworking space, an outdoor dog run, dining and entertaining spaces and a gathering space known as Mirror Lounge. Soucie Horner Ltd. served as the designer for the amenity interiors and model units. Pelli Clarke Pelli Architects, in partnership with Pappageorge Haymes Partners, designed Wolf Point East, which is located at …

April 30, 2020

Development Office Texas

KDC Tops Out JPMorgan Chase’s 540,000 SF Office Expansion Project at Legacy West in Plano

by Taylor Williams April 29, 2020

PLANO, TEXAS — Local developer KDC has topped out Phase II of an office expansion project for JPMorgan Chase at the Legacy West mixed-use development in Plano. The investment banking giant opted to take an additional 540,000 square feet in a build-to-suit project following the completion of its initial 1 million-square-foot campus at Legacy West in 2017. With the inclusion of the new 12-story tower, which is expected to be complete in May 2021, JPMorgan Chase will be able to grow its workforce by an additional 4,000 employees. Campus amenities include training and conference space, a food court, dining area and coffee shop, health and wellness center, childcare center and a bank branch. HKS served as the project architect for Phase II, and Balfour Beatty is the general contractor.

April 29, 2020

Development Illinois Midwest Office

Skender Completes Interior Construction of Mondelez International Headquarters in Chicago’s Fulton Market

by Kristin Harlow April 29, 2020

CHICAGO — Skender has completed interior construction of the 90,000-square-foot headquarters for Mondelez International in Chicago’s Fulton Market district. Mondelez, a global snacking company, is the anchor tenant at the new five-story building, which is located at 905 W. Fulton St. The office space features a café, two connecting stairwells, outdoor roof gardens, open workstations, private offices and conference rooms. Skender collaborated with design firms HPA and SCB as well as engineering consultant IMEG Corp.

April 29, 2020

Development Illinois Industrial Midwest

Conor Commercial to Develop 162,000 SF Industrial Facility in Palatine, Illinois

by Kristin Harlow April 28, 2020

PALATINE, ILL. — Conor Commercial Real Estate will develop a 162,000-square-foot industrial facility on behalf of a major e-commerce retailer in Palatine, a northwest suburb of Chicago. Amazon is the tenant, according to Crain’s Chicago Business. The build-to-suit distribution center will serve as a last-mile logistics facility. The project, initially planned as a speculative facility known as Northwest Commerce Center, has been adjusted to fit the tenant’s needs. It will feature 146,750 square feet of distribution and warehouse space and 15,250 square feet of office space. Other features include a clear height of 36 feet, 20 truck docks, 14 loading doors and a conveyor system. Completion is slated for October. McShane Construction Co. is the general contractor and Ware Malcomb is the architect.

April 28, 2020

Development Loans Multifamily Oregon Western

JLL Arranges Construction Financing for Alamo Manhattan’s Block 40 Multifamily Project in Portland

by Amy Works April 28, 2020

PORTLAND, ORE. — JLL Capital Markets has secured construction financing on behalf of Alamo Manhattan for the development of Block 40, a multifamily property in Portland’s South Waterfront neighborhood. Situated on a 1.6-acre site at 3838 S.W. Macadam Ave., Block 40 will consist of a seven- and eight-story, podium-style building offering 232 apartments. Units will be a mix of studio, one- and two-bedroom layouts averaging 724 square feet. The property will also feature 6,500 square feet of ground-floor retail space and 174 parking spaces. Community amenities will include a rooftop terrace with firepit, seating areas and televisions; courtyard with water fountain, fire pit, grilling area and seating areas; fitness center with Technogym; and a dog wash and dog park. Completion is slated for late 2021. Matt Benson and Charlie Watson of JLL Capital Markets arranged the financing for the developer, Alamo Manhattan. The financing amount was not released.

April 28, 2020

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