development1

RedLeaf, City of Cedar Park Form Partnership to Develop $350M Mixed-Use Project Near Austin

by Taylor Williams March 2, 2020

CEDAR PARK, TEXAS — Locally based developer RedLeaf Properties has entered into a public-private partnership with the City of Cedar Park, located north of Austin, to redevelop an area along Bell Boulevard into a mixed-use destination. The project, which will be branded The Bell District, is expected to have a total price tag of $350 million. The first phase of development is expected to include multiple acres of communal green space integrated with the new public library and restaurants, as well as two blocks of high-density residential buildings with ground-floor retail space. The second phase will feature residential and office development. RedLeaf plans to begin demolishing the existing structures on the site following the completion of the realignment of a section of U.S. Highway 183, a project that is expected to run through 2021.

March 2, 2020

Development Industrial Texas

Trammell Crow, Clarion Begin Work on 352,000 SF Distribution Center in North Houston

by Taylor Williams March 2, 2020

HOUSTON —A joint venture between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has begun construction on Rankin 45 Distribution Center, a 352,000-square-foot industrial project in Houston. Designed by Powers Brown Architecture, the Class A property will be located at the northeast corner of Rankin Road and Interstate 45 on the city’s north side. Building features will include 32-foot clear heights, 259 parking spaces and 23 trailer parking spaces. Other project partners include A&F General Contractors and CBRE as the leasing agency. Completion of Rankin 45 Distribution Center is scheduled for August.

March 2, 2020

Development Mixed-Use Northeast Pennsylvania

Keystone Tops Out 520,000 SF Mixed-Use Development in Conshohocken, Pennsylvania

by Alex Patton March 2, 2020

CONSHOHOCKEN, PA. — Keystone Property Group has topped out its 520,000-square-foot SORA West mixed-use development in Conshohocken, a northwestern suburb on Philadelphia. The development will include a 13-story, 429,000-square foot office building, which will house the corporate headquarters of AmerisourceBergen. The office building will also include a fitness center, a 16,000-square-foot rooftop terrace and an 80,000-square-foot parking facility. Other components of the development include a 165-room hotel with restaurant space and a 467,000-square-foot parking structure. The Harman Group is serving as structural engineers of the project. Gensler and The DLR Group are serving as the project architects, and Intech Construction Inc. is the general contractor. Keystone expects to complete construction in 2021.

March 2, 2020

Development Hawaii Multifamily Western

Alaka’i Development Selects Moss Construction for $82M Multifamily Project in West Oahu

by Amy Works March 2, 2020

EWA, HAWAII — Alaka’i Development, a Hawaii-based developer, has awarded Moss Construction an $82 million contract for The Element, a multifamily community located in Ewa in West Oahu. Designed by KTGY Architects, the 325,000-square-foot project will include 13 three-story residential buildings, offering a total of 318 units. Amenities will include a clubhouse with leasing and maintenance offices, a swimming pool and two-story fitness center. The Element will also have affordable housing options and easy access to the new Honolulu Authority Rapid Transportation (HART) station at the University of Hawaii West Oahu, which will allow residents to commute via rail to downtown Honolulu. The project is scheduled to begin leading in fall 2010 with completion in 2021. The Element is one of the first two rental apartment projects planned for D.R. Horton’s 11,750-home master-planned community called Ho’opili, which is located on 1,550 acres in Ewa.

March 2, 2020

Development Illinois Life Sciences Midwest Office

Skender Completes Interior Construction of New Headquarters for Paragon Biosciences in Chicago

by Kristin Harlow March 2, 2020

CHICAGO — Skender has completed interior construction of the 23,000-square-foot headquarters for Paragon Biosciences LLC in Chicago. The life science innovator, which invests in, builds and advises bioscience companies, has relocated to the 35th floor of 330 N. Wabash from its current office in Northbrook. Components of the new office include open office workstation areas, private offices, conference rooms, two reception areas, a warming pantry and large café. Skender collaborated with Gensler and CBRE to complete the project.

March 2, 2020

Development Georgia Multifamily Southeast

Quintus to Open $49M Apartment Complex in Metro Atlanta’s Gwinnett County

by Alex Tostado February 28, 2020

DULUTH, GA. — Atlanta-based Quintus Corp. is set to open The Rey on Reynolds, a $49 million, 286-unit apartment complex in Duluth. The community is slated to open to residents in May and will offer one- and two-bedroom floor plans ranging in rents from $1,255 to $1,870 per month, according to Apartments.com. Communal amenities will include a two-story ﬁtness and wellness center, pool, private courtyard with an outdoor ﬁtness area, grilling area, outdoor living room with ﬁre pit, bocce ball court, giant Jenga and an open lawn. The Rey on Reynolds, named for its location on Steve Reynolds and Satellite boulevards, is the first phase of The Rey, which will also feature a mixed-use development offering retail and restaurant space adjacent to the apartments as part of Phase II, which Knoll Development will develop. Atlanta-based Rees Design Associates was the architect, and Atlanta-based Quintus Housing Group served as the general contractor. BB&T, now known as Truist Bank, provided construction financing. The Gwinnett Place Community Improvement District (CID) has been upgrading infrastructure around Steve Reynolds and Satellite boulvards, according to Kelly Keappler of Quintus Corp. The CID also aided in the vision for the streetscape and architecture of both the multifamily …

February 28, 2020

California Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

R.D. Olson Construction Breaks Ground on Bolsa Row Mixed-Use Project in Westminster, California

by Amy Works February 28, 2020

WESTMINSTER, CALIF. — R.D. Olson Construction has broken ground for the ground-up construction of Bolsa Row, a mixed-use development in Westminster’s Little Saigon District. Situated on a six-acre lot, Bolsa Row will include a 225,000-square-foot apartment complex, retail space, a five-story full-service hotel and a variety of community spaces to create a social hub and cultural landmark. Located at the intersection of Bolsa Avenue and Brookhurst Street, Bolsa Row will serve as the gateway to Little Saigon District — the Vietnamese heart of Orange County — and home to the nation’s largest Vietnamese-American population. The property will feature a 1940s renaissance and French colonial architectural theme, with a replica of the Bến Thành Market clock tower, an iconic landmark of old Vietnam. Bolsa Row will feature a 148-room Wyndham Hotels & Resorts property with 48,000 square feet of banquet space and a 700-stall subterranean parking structure. The five-story multifamily property will comprise 200 units in a mix of studio, one- and two-bedroom layouts and a variety of community amenities, including a courtyard, pool, spa, fitness studio, recreation space, clubhouse and 37,500 square feet of attached retail space. Development partners include the Pham family, IP Westminster LLC, KTGY Architecture + Planning, …

February 28, 2020

Development Illinois Midwest Multifamily

Joseph J. Duffy Co. Begins Construction of Mixed-Income Apartment Community in Chicago

by Kristin Harlow February 28, 2020

CHICAGO — Joseph J. Duffy Co. has begun construction of a seven-story, mixed-income apartment community in Chicago’s Jefferson Park neighborhood. Nonprofit organization Full Circle Communities is the developer for the 75-unit building located at 5150 N. Northwest Highway. The project will provide housing for veterans, persons with disabilities and working families. Sixty of the units will be affordable and 15 will be market-rate. Amenities will include a community room, library, business center, picnic area, community garden, dog run and 40 parking spaces. The project is expected to receive LEED Silver certification upon completion. Cordogan, Clark & Associates is the project architect.

February 28, 2020

Development Michigan Midwest Multifamily

Bedrock Begins Pre-Leasing 35-Unit Multifamily Property in Detroit’s City Modern

by Kristin Harlow February 28, 2020

DETROIT — Bedrock has begun pre-leasing The Flats at 2660 John R. Street, the first of five market-rate multifamily properties to be located in City Modern, an 8.4-acre development in Detroit’s Brush Park neighborhood. The first property is home to 35 units, comprised of studios, one- and two-bedroom floor plans. Amenities include bicycle storage, dry cleaning lockers, a package delivery system and third-floor outdoor terrace. Move-ins will begin in April. Lorcan O’Herlihy Architects designed the property. Detroit-based Bedrock is a full-service real estate firm. Since its founding in 2011, the company and its affiliates have invested and committed over $5.6 billion to acquiring and developing more than 100 properties.

February 28, 2020

Development Louisiana Southeast Top Stories

Provident Realty Advisors Opens $85M Apartment Development in Downtown New Orleans

by Alex Patton February 28, 2020

NEW ORLEANS — Provident Realty Advisors, a Dallas-based developer, has opened Canal 1535, a 330-unit multifamily building in the central business district (CBD) of New Orleans. Canal 1535 features one- and two-bedroom apartments. Amenities include a fitness center, parking garage and heated swimming pool. The property is now leasing to new residents, with rents ranging from approximately $1,500 to $3,700. The total development cost is estimated at $85 million. The building is situated on Canal Street in the heart of New Orleans, near Tulane University Medical School and Louisiana State University School of Medicine. The property is located blocks from the French Quarter, the Mercedes-Benz Superdome and St. Louis Cemetery No. 2, and offers convenient access to public transportation via the Regional Transit Authority streetcar line. Julie Valley, asset manager at Provident, says that the building is intended to serve the growing workforce in the CBD, including native New Orleanians and those moving to the city for work. The economic outlook for 2020 is forecasting an additional 9,400 jobs in the city, an increase of 1.6 percent, according to New Orleans CityBusiness. — Alex Patton

February 28, 2020

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