development1

Klein Enterprises to Undertake 272-Unit Multifamily Redevelopment Project in Metuchen, New Jersey

by Taylor Williams May 10, 2023

METUCHEN, N.J. — Baltimore-based Klein Enterprises will undertake a redevelopment project in Metuchen, about 40 miles southwest of Manhattan, that will convert a former industrial site at 212 Durham Ave. into a 272-unit multifamily complex. The yet-to-be-named community will feature studio, one-, two- and three-bedroom apartments, and 15 percent of the units will be reserved as affordable housing. Klein Enterprises recently completed remediation of the site and demolition of the existing structures and expects to deliver the project in fall 2025.

May 10, 2023

Development Multifamily New Jersey Northeast Student Housing

Atlantic City Development Corp. Opens 416-Bed Residence Hall at Stockton University

by Taylor Williams May 9, 2023

ATLANTIC CITY, N.J. — Atlantic City Development Co. has opened a 416-bed residence hall that will serve students at Stockton University. The six-story, 135,000-square-foot building represents the second phase of a larger development that also featured two other residence halls totaling 543 beds and a 56,000-square-foot academic center. Amenities include multiple lounges, a meeting room, business center and onsite laundry facilities. Other project partners included architect Thriven Design and Philadelphia-based engineering firm O’Donnell & Naccarato.

May 9, 2023

Development Mixed-Use Texas

Developer Unveils Plans for 348-Acre Adelton Master-Planned Community in Bastrop, Texas

by Taylor Williams May 8, 2023

BASTROP, TEXAS — West Bastrop Village Ltd., an entity backed by Austin-based developer Benchmark Land Development Inc., has unveiled plans for Adelton, a 348-unit master-planned community in Bastrop, about 30 miles east of Austin. Adelton will be constructed in phases and will ultimately feature 1,200 residential units, 125,000 square feet of commercial space, four miles of trails and 50 acres of parks, greenbelts and other communal outdoor spaces. Amenities will include a pool, beer garden-style outdoor pavilion, playground and a sports court. Single-family homebuilders David Weekley Homes and Empire Communities are underway on the residential component of the project and building two-, three- and four-bedroom homes that range in size from 1,400 to 2,800 square feet. The first move-ins will begin this summer.

May 8, 2023

Development Office Texas

Adolfson & Peterson Completes 242,000 SF Office Building in Plano

by Taylor Williams May 4, 2023

PLANO, TEXAS — General contractor Adolfson & Peterson has completed a 242,000-square-foot office building within International Business Park, a 300-acre campus in Plano by locally based developer Billingsley Co. The five-story building is adjacent to a 175,000-square-foot building that was completed in 2020 and features a fitness center, conference facilities, tenant lounge and a mini-mart. GFF served as the architect for the project, which also included the construction of a 584-space parking garage. JLL has been tapped as the leasing agent.

May 4, 2023

Development Massachusetts Multifamily Northeast

FoxRock Properties Begins Leasing 465-Unit Ashlar Park Apartments in Quincy, Massachusetts

by Taylor Williams May 3, 2023

QUINCY, MASS. — Locally based developer FoxRock Properties has begun leasing Ashlar Park, a four-building, 465-unit multifamily project located at the site of the former Quincy Medical Center on the southern outskirts of Boston. Ashlar Park features studio, one- and two-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, outdoor terrace, fitness center with outdoor yoga space, resident lounge, coworking space, library and a conference room. Citizens Bank provided $128.7 million in construction financing for the project. Rents start at $1,925 per month for a studio apartment.

May 3, 2023

Development Industrial Texas

Koontz Corp. to Develop 188-Acre Industrial Project in San Antonio

by Taylor Williams May 2, 2023

SAN ANTONIO — Locally based developer Koontz Corp. will build Frontera Logistics Supersite, a 188-acre industrial project that will be located on the south side of San Antonio. Plans currently call for up to 2.8 million square feet of manufacturing and warehouse space across eight buildings with parking for 3,350 cars and 812 trailers. Carl Olson of Olson Properties represented the undisclosed sellers in the disposition of the land, which is an assemblage of 11 parcels. Koontz Corp. was self-represented in that transaction. Beaty Palmer Architects is designing the project, and Partners Real Estate has been appointed as the marketing and leasing agent. A construction timeline has not yet been finalized.

May 2, 2023

Build-to-Rent Development Single-Family Rental Texas

Core Spaces Underway on 408-Unit Build-to-Rent Residential Project in Princeton, Texas

by Taylor Williams May 1, 2023

PRINCETON, TEXAS — Core Spaces, a developer with offices in Chicago and Austin, is underway on construction of Oxenfree at Princeton, a 408-unit build-to-rent residential community located on the northeastern outskirts of Dallas. The site spans 50 acres, and the development will feature a mix of single-family and townhome-style residences with three distinct architectural styles. Oxenfree at Princeton will also offer a central amenity center with a coworking space, health club, market, lounge, pool and a children’s play area. Completion is scheduled for April 2024.

May 1, 2023

The-Residences-at-Main-Trumbull-Connecticut

Connecticut Development Multifamily Northeast

Garden Communities Begins Leasing 260-Unit Apartment Property in Trumbull, Connecticut

by Taylor Williams May 1, 2023

TRUMBULL, CONN. — New Jersey-based developer Garden Communities has begun leasing The Residences at Main, a 260-unit apartment community in Trumbull, located in Connecticut’s Fairfield County. The unit mix consists of 70 one-bedroom apartments and 190 two-bedroom residences that range in size from 730 to 1,230 square feet. Amenities include a pool, fitness center, coworking lounge, package locker system and a pet park. Rents start at $2,370 per month for a one-bedroom unit.

May 1, 2023

Constitution-Logistics-Center-Piscataway

Development Industrial New Jersey Northeast

Rockefeller Group Breaks Ground on 147,000 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams April 28, 2023

PISCATAWAY, N.J. — New York City-based developer Rockefeller Group has broken ground on Constitution Logistics Center, a 147,000-square-foot industrial project in the Northern New Jersey community of Piscataway. The 18-acre site at 10 Constitution Ave. formerly housed a 100,000-square-foot office building that was owned and occupied by hearing aid manufacturer WS Audiology and that is now being demolished. Constitution Logistics Center will feature a clear height of 36 feet, 41 loading docks, 123 car parking spaces and 57 trailer stalls. Completion is slated for the second quarter of 2024. ARCO Construction is the general contractor for the project. Cushman & Wakefield and KBC Advisors have been appointed as the leasing agents.

April 28, 2023

Development Multifamily New Jersey Northeast

Joint Venture Breaks Ground on 401-Unit Multifamily Project in Jersey City

by Taylor Williams April 27, 2023

JERSEY CITY, N.J. — A joint venture between Cleveland-based developer The NRP Group, asset management firm Rockwood Capital and locally based firm G&S Investors has broken ground on a 401-unit multifamily project in Jersey City. The site is located at 190 Chapel Ave. in the Port Liberté area. Units will come in one-, two- and three-bedroom formats. Amenities will include a pool, pet play and wash area, outdoor grilling and dining stations, rooftop deck with a lounge area, game room, communal kitchen, conference room and a commuter lounge. Citizens Bank and Fifth Third Bank provided senior construction loans for the project, which is slated for a summer 2025 completion.

April 27, 2023

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