development1

MTA Completes Manhattan-Brooklyn Train Tunnel Repairs

by Alex Patton April 27, 2020

NEW YORK CITY — The Metropolitan Transportation Authority (MTA) has completed repairs of its L train tunnel, which connects Manhattan and Brooklyn. The 12-month project repaired damage to the tunnel caused by Hurricane Sandy in 2012. Under a revised plan from state Gov. Andrew Cuomo and the deans of the Cornell University and Columbia University engineering schools, the project was completed in three months less than its original 15-month estimation, which also included a complete shut-down of the tunnel. Under the revised plan, the tunnel remained operational during the day while repairs progressed in the nights and weekends. The project was also completed approximately $100 million under its original $477 million budget.

April 27, 2020

California Development Retail Western

Organic Roots Grocery Store Opens at McKinley Crossroads in Corona, California

by Amy Works April 27, 2020

CORONA, CALIF. — Organic Roots, a family-owned organic and natural food store, has opened a its location at McKinley Crossroads. ShopOne Centers REIT owns the property, located in Corona. This is the retailer’s second store, joining its existing location in Temecula. Organic Roots offers local, organic products, all-natural foods, health and body care products, and supplements. Additionally, the store features a wide selection of foods for specialized diets, including vegan, vegetarian, gluten free, low sugar, paleo and keto. Organic Roots will be open to seven days a week from 9 a.m. to 7 p.m. and will offer senior citizen shopping hours and curbside pickup for the duration of the coronavirus pandemic.

April 27, 2020

Development Industrial Texas

Trammell Crow, Clarion Complete 85,000 SF Distribution Center for FedEx in Austin

by Taylor Williams April 23, 2020

AUSTIN, TEXAS — A joint venture between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has completed construction of an 85,000-square-foot, build-to-suit distribution center for FedEx in Austin. The Class A building is situated on 13 acres at 8233 Industry Way on the city’s southeast side and has been operational since March. The project represents Phase II of Park 183, a Class A industrial development that currently totals 330,000 square feet. A third phase consisting of 300,000 square feet has been announced and is expected to be complete by the third quarter of 2021.

April 23, 2020

California Development Loans Mixed-Use Multifamily Retail Western

Dekel Capital Arranges $59M Construction Loan for Mixed-Use Project in Thousand Oaks

by Amy Works April 23, 2020

THOUSAND OAKS, CALIF. — Dekel Capital has arranged $59 million in construction financing on behalf of The Latigo Group for the construction of 299 Thousand Oaks, a mixed-use development located in Thousand Oaks. Situated on 3.2 acres, 299 Thousand Oaks will feature 142 Class A apartments, 9,820 square feet of ground-floor retail space and parking for 239 vehicles. The four-story property will offer studio, one- and two-bedroom units, with 11 units designated as affordable housing for low-income families. Community amenities will include a 3,000-square-foot fitness center, pool, garden courtyards and open space. Additionally, the project will feature smart technology, including keyless entry and remote thermostat control. Shlomi Ronen of Dekel Capital secured the financing, which a publicly traded REIT and a life insurance company provided.

April 23, 2020

Development Illinois Midwest Multifamily

Habitat, P3 Markets Secure First Round of Financing for $35M Mixed-Income Project in Chicago

by Kristin Harlow April 23, 2020

CHICAGO — The Habitat Co. has secured financing for the first phase of 43 Green, a $35 million mixed-income project in Chicago’s Grand Boulevard neighborhood. Habitat will develop the transit-oriented development in partnership with P3 Markets. Having received approval for low-income housing tax credits, Habitat and P3 will now focus on completing the design and financing to finalize the capital program for the project. Upon completion, 43 Green is expected to include three buildings centered around the 43rd Street Green Line stop. Each building is slated to include mixed-income apartments and street-level retail space. Phase I will feature 91 units and 7,500 square feet of retail. The developers expect to break ground in 2021.

April 23, 2020

Development Massachusetts Multifamily Northeast

Austin Street, Dinosaur Capital Complete 68-Unit Multifamily Building in Metro Boston

by Alex Patton April 22, 2020

NEWTON, MASS. — A joint venture between Austin Street Partners, Dinosaur Capital Partners and Oaktree Development has completed construction of 28 Austin Street, a 68-unit multifamily building in Newton, a western suburb of Boston. The property features 33 one- and 35 two-bedroom apartments, including 23 workforce housing units that are reserved for renters earning less than 80 percent of the area median income. Leasing has begun and many tenants have already moved in. Eastern Bank provided $25.7 million in construction and permanent financing for the project. Stantec and GreenStaxx designed the project. NEI General Contracting constructed the building.

April 22, 2020

California Civic Development Western

Meridian Development Completes Fire Station, Two Parks at Millenia Mixed-Use Project in Chula Vista

by Amy Works April 22, 2020

CHULA VISTA, CALIF. — Meridian Development has completed a $15 million infrastructure improvements program at Millenia, a 210-acre, mixed-use urban village in Chula Vista. Meridian is developing the infrastructure projects for property owner Stratford Land. The facilities include a fire station and two neighborhood parks. The Millenia Fire Station, which will be known as Chula Vista Fire Station #10, is located at the corner of Millenia Avenue and Stylus Street. The two-story, 12,500-square-foot building features three double-deep drive-through apparatus bays and accommodations for a 12-person crew. Jeff Katz Architecture designed the green-built and solar-powered fire station. EC Constructors built the property under a design-build process, with Meridian Development serving as general contractor. The infrastructure improvements also include the 1.5-acre Orion Park and the 1.9-acre Stylus Park, both of which are located along the Chula Vista Regional Trail. MIG Inc. designed Orion Park, which features two playgrounds, a dog park, shaded picnic tables, a comfort station, lawn areas and large plazas. Spurlock Landscape Architects designed Strata Park, which features an outdoor game area, fitness training circuit, interactive play area, community plaza, barbecue and picnic areas, and restrooms. Strata Park also offers a 23-plot community garden, open to all Chula Vista residents, …

April 22, 2020

Affordable Housing Development Illinois Midwest Multifamily

Joseph J. Duffy Co., Safeway Construction Underway on $14.9M Affordable Housing Project in Chicago

by Kristin Harlow April 22, 2020

CHICAGO — Joseph J. Duffy Co. and Safeway Construction Co. Inc. are underway on the construction of Hope Manor Village, a $14.9 million affordable housing project in Chicago’s Englewood neighborhood. The nonprofit organization Volunteers of America Illinois is the developer. Worn Jerabek Wiltse Architects PC is the project architect. Plans call for 28 two-bedroom units and 10 three-bedroom units. This is the fourth Hope Manor project that Joseph J. Duffy Co. has built for the developer.

April 22, 2020

Development Massachusetts Multifamily Northeast

Toll Brothers, Carlyle Group to Develop 289-Unit Apartment Community in Woburn, Massachusetts

by Alex Patton April 21, 2020

WOBURN, MASS. — A joint venture between Toll Brothers Inc. and The Carlyle Group will develop Emblem 120, a 289-unit apartment community in Woburn, a northern suburb of Boston. The six-story building will feature 9,390 square feet of retail space and amenities including a resident lounge, coworking space, fitness center and pool. Wells Fargo Bank provided construction financing for the project. Toll Brothers Apartment Living will manage the development and leasing of the property. The construction schedule was undisclosed.

April 21, 2020

Development New Jersey Northeast Retail

Restoration Hardware Plans to Convert Historic Mansion in New Jersey Into Store, Restaurant

by Alex Patton April 21, 2020

MORRISTOWN, N.J. — Restoration Hardware (RH) has unveiled plans to transform the 42-room Alnwick Hall mansion in Morristown, a western suburb of New York City, into an upscale home improvement store, restaurant and wine bar. The renaissance revival-style mansion was built in 1904 and modeled after a 16th-century British manor. The Morris Township Committee designated the property, which has been vacant for several years, as a non-condemned area in need of redevelopment in 2018. Next steps include receiving project approval from a local planning board, officially naming RH as the developer and establishing a construction schedule.

April 21, 2020

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