development1

Dekel Capital Arranges More Than $80M in Financing for Development of Multifamily Complex in California

by Amy Works August 20, 2019

SOUTH GATE, CALIF. — Dekel Capital has secured more than $80 million in preferred equity and construction financing for the development of Jefferson on Imperial, a multifamily community located in South Gate. The borrower is JPI. Situated on 4.1 acres at 10920 Garfield Ave., the four-story Jefferson on Imperial will feature 244 apartments in a mix of one-, two- and three-bedroom layouts, as well as a multi-level parking garage with a total of 458 stalls. JPI broke ground on the development in March and expects initial delivery by October 2020. Southern California-based WHA designed the project, which is the first new multifamily development in the last 30 years in the Downey/South Gate area. Alliance Residential Co. will manage, market and lease up the property.

August 20, 2019

Development Midwest Wisconsin

Milwaukee Symphony Orchestra Underway on $89M Performance Hall Project

by Kristin Harlow August 19, 2019

MILWAUKEE — The Milwaukee Symphony Orchestra (MSO) is converting the former Warner Grand Theater, located at 212 W. Wisconsin Ave., into its new performance hall. The $89 million project is expected to open in fall 2020. As part of the project, construction partners C.D. Smith Construction, International Chimney Corp. and Expert House Movers moved a seven-story wall 35 feet toward the street while keeping it fully intact. The wall dates back to 1931 when the former theater was built. By expanding the theater, the MSO can offer better visibility for patrons as well as fit the entire orchestra on stage. The MSO, led by Music Director Ken-David Masur, was founded in 1959.

August 19, 2019

Development Industrial New Jersey Northeast

Seagis Begins Construction of 415,533 SF Industrial Property in Kearny, New Jersey

by Alex Patton August 16, 2019

KEARNY, N.J. — Seagis Property Group, a Pennsylvania-based developer, has begun construction of a 415,533-square-foot industrial property in Kearny, a western suburb of New York City. The property features 40-foot clear heights, 88 dock doors, four drive-in doors and close access to the New Jersey Turnpike and Port Newark. Construction is slated for completion in early 2020.

August 16, 2019

Development New Jersey Northeast Retail

Filipino Grocer to Open 16,000 SF Store in Clifton, New Jersey

by Alex Patton August 16, 2019

CLIFTON, N.J. — Filipino grocer FilStop will open a 16,000-square-foot flagship store in Clifton, a western suburb of New York City. The specialized grocery store will also maintain its original 4,000-square-foot location in Jersey City. The store will be located within Clifton Plaza, a 95,000-square-foot retail center anchored by Big Lots, Blink Fitness and Dollar Tree. Levin Management Corp. is the leasing agent for the property. The opening is slated for Aug. 22.

August 16, 2019

AC-Hotel-Los-Angeles-South-Bay-El-Segundo-CA

California Development Hospitality Western

R.D. Olson Construction Completes AC Hotel Los Angeles South Bay

by Amy Works August 16, 2019

EL SEGUNDO, CALIF. — R.D. Olson Construction has completed AC Hotel Los Angeles South Bay, a six-story hotel located in El Segundo’s business district. Located at 2130 Maple Ave., the 98,728-square-foot hotel features four tech-enabled meeting space, the city’s first rooftop bar with exterior benches and a fire table. The hotel offers 106 king-bed and 74 double-queen guestrooms featuring a European-style, contemporary design. The property also features an AC Lobby Lounge, which is a communal workspace by day and social gathering space by night; a first-floor bar and terrace with a fireplace and water feature; a 24-hour fitness center; and AC Kitchen, a European-style restaurant serving a variety of breakfast options. Project partners included Welcome Group Inc., AXIS/GFA Architecture + Design, Design Force Corp. and Robison Engineering.

August 16, 2019

Development Indiana Midwest Multifamily Student Housing

Brinkmann Completes Construction of 675-Bed Student Housing Property in West Lafayette, Indiana

by Kristin Harlow August 16, 2019

LAFAYETTE, IND. — Brinkmann Constructors has completed construction of the Rise on Chauncey, a 675-bed student housing property near Purdue University in West Lafayette. At 16 stories, the property is West Lafayette’s tallest building. Apartments range from studios to four-bedroom units. CA Student Living, the student housing division of Chicago-based CA Ventures, was the developer. The complex spans 458,000 square feet with 283 fully furnished units. Brinkmann completed the project in 19 months. Monthly rents start at $689 for a shared four-bedroom unit.

August 16, 2019

Civic Development Iowa Midwest

Stahl to Construct $28M Elementary School in Urbandale, Iowa

by Kristin Harlow August 16, 2019

URBANDALE, IOWA — The Urbandale Community School District has selected Stahl to construct a two-story, 118,000-square-foot elementary school. The $28 million building, located at 7110 Prairie Ave., will replace the existing Olmsted Elementary. In addition to classrooms, the building will feature a kitchen and cafeteria, gymnasium, administration area and auxiliary spaces. Urbandale’s new school is part of a $59 million bond referendum and long-term facilities plan for the district to meet the growing need for additional education space to accommodate children in pre-kindergarten through fifth grade. Once complete, the school will house up to 650 students. Completion is slated for May 2021. DLR Group is the architect.

August 16, 2019

Development Industrial Texas

Panattoni Development Breaks Ground on 642,994 SF Industrial Project Near Port Houston

by Taylor Williams August 16, 2019

PASADENA, TEXAS — Panattoni Development Co. and its equity partner MetLife Investment Management have broken ground on Bayport South, a 642,994-square-foot industrial project located at 10575 Red Bluff Road in Pasadena, an eastern suburb of Houston. The cross-dock facility will be situated near both the Bayport Container Terminal and the Barbours Cut Container Terminal. Building features will include 36-foot clear heights, 150 trailer parking spaces, 330 automobile parking spaces and 180-foot truck court depths. JLL will market the facility for lease. Construction is expected to be complete in the first quarter of 2020.

August 16, 2019

Development Multifamily Texas

JPI to Develop 433-Unit Apartment Community in Irving’s Las Colinas District

by Taylor Williams August 15, 2019

IRVING, TEXAS — Locally based multifamily developer JPI will build Jefferson Innova, a 433-unit community in Irving’s Las Colinas district, the company’s sixth project in that submarket. JPI has closed on construction financing for the five-acre project and expects to open the property in spring 2021. Amenities at Jefferson Innova will include a pool, business center, fitness center with a yoga studio, a coffee bar and two outdoor kitchens. Humphreys & Partners is the project architect, and Glenn Engineering Corp. is the civil engineer. CrossHarbor Capital Partners is serving as JPI’s equity partner on the project.

August 15, 2019

Development New York Northeast Office

F&T, SCG America Open 85,000 SF Office Building in Queens

by Alex Patton August 15, 2019

NEW YORK CITY — A partnership between New York-based developers F&T Group and SCG America has opened Tangram Tower, an 85,000-square-foot office building within the Tangram mixed-use development in Queens. The building is currently 80 percent sold to medical practitioners and other professionals. Tangram Tower offers access to the 1.2 million-square-foot Tangram development’s two residential towers and hotel, as well as an array of retail and culinary options. Margulies Hoelzli Architecture designed the development.

August 15, 2019

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