development1

Hoar Construction Begins Work on $90M Healthcare Project in Uvalde, Texas

by Taylor Williams March 27, 2020

UVALDE, TEXAS — Alabama-based general contractor Hoar Construction has begun work on a $90 million healthcare project in Uvalde, about 85 miles west of San Antonio. The new facility will be part of Uvalde Memorial Hospital and will include 32,870 square feet of institutional space, 31,872 square feet of administrative space and an 11,500 square-foot central utility plant. In addition, the facility will house an emergency department, physical and occupational therapy department, radiology department, urgent care department, an intensive care unit, a 25-bed medical surgical inpatient unit and 16 outpatient beds. The building is expected to be available for occupancy in September 2021.

March 27, 2020

Development Industrial Texas

TDC, Diamond Realty to Develop 326,792 SF Warehouse, Distribution Project in Metro Houston

by Taylor Williams March 26, 2020

SUGAR LAND, TEXAS — A joint venture between Transwestern Development Corp. (TDC) and Diamond Realty Investments have acquired 20.8 acres in the southwestern Houston suburb of Sugar Land for the development of a 326,792-square-foot warehouse/distribution project. Branded Sugar Land Crossroads, the project will consist of two buildings designed for tenants ranging from 28,000 square feet to the full capacity of 326,792 square feet. The buildings will offer 32-foot clear heights and share trailer parking spaces and a 255-foot truck court. Completion is slated for spring 2021.

March 26, 2020

Arizona Development Hospitality Loans Western

Tower Capital Secures $20.1M Development Financing for Hilton Home2 Suites in Mesa, Arizona

by Amy Works March 25, 2020

MESA, ARIZ. — Tower Capital has secured $20.1 million in development financing for a Home2 Suites by Hilton in Mesa. The name of the borrower was not released. Concord Eastridge is developing the four-story, 111-key hotel, which will be situated on the 18th hole of the Longbow Golf Course in Mesa’s Falcon District. The Home2 Suites by Hilton brand features lifestyle-focused amenities, including suites with separate living and bedroom space and a “working wall” that incorporates a kitchen and flexible working/media space. Construction started in February with completion slated for the first quarter of 2021.

March 25, 2020

Development Midwest Missouri Multifamily

Watermark Residential Begins Development of 276-Unit Apartment Community in Kansas City

by Kristin Harlow March 25, 2020

KANSAS CITY, MO. — Watermark Residential, a wholly owned affiliate of development and construction company Thompson Thrift, has acquired 23 acres in Kansas City with plans to develop The Element by Watermark, a 276-unit Class A apartment community. Located in Platte County at 8101 Northwest Barrybrooke Drive, the community will consist of three-story, garden-style buildings. Amenities will include a clubhouse, 24-hour fitness center, swimming pool, bark park and dog spa. Element, slated for completion in November 2021, will be Watermark’s third multifamily development in the state of Missouri.

March 25, 2020

California Development Loans Multifamily Western

Dekel Capital Arranges $47.8M Construction Loan for Multifamily Community in Los Angeles

by Amy Works March 24, 2020

LOS ANGELES — Los Angeles-based Dekel Capital, on behalf of Los Angeles-based CGI Strategies, has secured $47.8 million in non-recourse construction financing for the development of a multifamily community located at 837 S. Fedora St. in Los Angeles. Provided by a national lender, the loan will be used for the construction of a seven-story concrete and wood building over two levels of subterranean parking in the Koreatown neighborhood. The multifamily property will offer 200 apartments in a mix of studio, one- and two-bedroom layouts, ranging in size from 622 square feet to 1,000 square feet, with 10 percent of the units earmarked for low-income residents. On-site community amenities will include a fully equipped fitness center, 6,500-square-foot community lounge, clubhouse, exterior courtyard and 5,400-square-foot rooftop lounge. Completion is scheduled for summer 2022.

March 24, 2020

Development Georgia Industrial Southeast

Trammell Crow, Diamond Realty to Develop 403,648 SF Industrial Property Near Atlanta

by Alex Tostado March 23, 2020

NEWNAN, GA. — A joint venture between Trammell Crow Co. and Diamond Realty Investments will develop Innovation Business Center, a two-building, 403,648-square-foot industrial property in Newnan. The North Building will span 201,740 square feet and the South Building will include 201,908 square feet. The developers expect the property to be completed at the end of the year. The single-story buildings are situated at 185 and 195 Innovation Way, 36 miles southwest of downtown Atlanta and 27 miles from Hartsfield-Jackson Atlanta International Airport. Each building will feature 32-foot clear heights, 60-foot dock bays, a 185-foot truck court with 115 trailer spaces, 375 automobile parking spaces and an ESFR fire sprinkler system. Ware Malcomb is the project’s architect, Catamount Constructors is the general contractor, Eberly & Associates is the civil engineer and landscape architect, Haines Gipson & Associates is the structural engineer and Jordan & Skala Engineers is the MEP engineer. Mark Hawks, Todd Barton and Joanna Blaesing of CBRE are handling the marketing and leasing of the property.

March 23, 2020

California Development Multifamily Western

Trion Properties Completes 28-Unit Apartment Project in Culver City, California

by Amy Works March 23, 2020

CULVER CITY, CALIF. — Los Angeles-based Trion Properties has completed 5012 Apartments, a multifamily community with tech amenities located at 5012 Slauson Ave. in Culver City. As Trion’s first ground-up development, the 28-unit property represents the company’s expansion from value-add multifamily renovations to ground-up development. Additionally, the property is the first project that the firm has taken through the entire process, from unentitled to developed and stabilized. The three-story, pet-friendly community features 15 one-bedroom and 13 two-bedroom units. The property features a variety of interior and common-area tech amenities, including a high-level security system, Nest thermostats, Luxer One package locker service, a ButterflyMX smart video intercom system and Sonos smart speakers. Each unit features state-of-the-art appliances and flooring, stackable washers and dryers, central air conditioning, walk-in closets, cable television and modern finishes. Community amenities include a second-floor amenity deck, breakfast bar, courtyard equipped with furniture and planters, exterior hallways and covered assigned parking.

March 23, 2020

Development Maryland Southeast Student Housing Top Stories

Balfour Beatty Starts Construction of 557-Bed Student Housing, Innovation Center Development in Bowie, Maryland

by Alex Patton March 20, 2020

BOWIE, MD. — Developer Balfour Beatty Campus Solutions is underway on a 557-bed student housing and mixed-use development in Bowie, a northeastern suburb of Washington, D.C. The 170,000-square-foot development will house students of Bowie State University and will also be the site of the Bowie Business Innovation Center, a program for business acceleration in collaboration with the U.S. Small Business Administration. The development is slated to open in fall 2021. The project cost will be approximately $42 million. “This partnership allows the university to support its growing student body with much-needed modern housing options and provides a dedicated place for the creative leaders of tomorrow to develop their knowledge and skills as they prepare to enter the business world upon graduation,” says Bob Shepko, president of Balfour Beatty. The development will also house the university’s Entrepreneurship Academy, which will help students develop their own business opportunities and better navigate the greater business world. Other project features include a variety of amenities, including a fitness center, laundry facilities, community kitchens, parking and flexible classroom space. The project is primarily funded with tax-exempt bonds through the Maryland Economic Development Corp. Balfour Beatty Construction is and Smoot Construction are serving as contractors for …

March 20, 2020

Development Multifamily Texas

Bolour Begins Work on 780-Unit Multifamily Redevelopment Project in Houston

by Taylor Williams March 20, 2020

HOUSTON — Bolour Associates, an investment and development firm based in Southern California, has begun work on the redevelopment of Bella Luna and San Lucas, two multifamily communities totaling 780 units in Houston. The properties are situated on a combined 20 acres and feature one-, two- and three-bedroom units, as well as townhomes. Amenities include pools, playgrounds and onsite laundry facilities. The redevelopment will deliver new kitchens and bathrooms, upgraded interiors and renovated landscaping, common areas and exteriors. Completion is slated for September.

March 20, 2020

Colorado Development Loans Office Western

JV Receives $29.4M Construction Loan for S’PARK Railyards Office Project in Boulder

by Amy Works March 20, 2020

BOULDER, COLO. — A joint venture between The John Buck Co., Kinship Capital and Element Properties has secured a $29.4 million construction loan for the development of S’PARK Railyards, a Class A office project in Boulder. Located at 3401 Bluff St., the four-story Railyards building will feature 64,000 square feet of office space and 5,263 square feet of ground-floor retail space. The office layouts have been designed with 25-foot spans between columns, offering nearly column-free floor plates. Slated for completion in March 2021, the project is 92.4 percent pre-leased. The Railyards project is located within S’PARK, a master-planned community that will offer 288 multifamily units, 106,029 square feet of office space, 31,363 square feet of ground-floor retail space and approximately 350 parking spaces across six separate buildings. Railyards is the fourth of six planned buildings to be built by the joint venture. Construction of the last two projects are scheduled to start by the end of the year. JLL Capital Markets arranged the five-year, floating-rate construction loan through Wintrust Financial Corp. Keith Largay, Brian Walsh and Leon McBroom of JLL Capital Market represented the borrower in the financing.

March 20, 2020

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