development1

Meta Housing Breaks Ground on $51.4M Affordable Seniors Housing Community in Los Angeles

by Amy Works April 15, 2019

LOS ANGELES — Meta Housing Corp., a Los Angeles-based developer, in a joint venture partnership with Western Community Housing, a Southern California-based nonprofit corporation, has broken ground on Vermont Corridor Apartments. The six-story, transit-oriented, affordable community is located in the Koreatown neighborhood of Los Angeles. The $51.4 million project will provide affordable housing for seniors age 62 and older earning between 25 and 60 percent of area median income. Of the 72 units to be built at the property, 36 will include supportive services funded through the County of Los Angeles’ Measure H and subsidized rents for residents experiencing varying levels of homelessness. These units were constructed with funding from Proposition HHH from the City of Los Angeles and a partnership with the Housing Authority of the City of Los Angeles (HACLA), the Los Angeles Housing and Community Investment Department (HCID) and the County of Los Angeles. “Affordable seniors housing is extremely difficult to find in Los Angeles,” says Kasey Burke, president of Meta Housing. “Los Angeles needs more affordable alternatives for older residents, and we are delivering that alternative in this project. This is a great example of public-private partnership working together to improve the community and the lives …

April 15, 2019

Development Midwest Missouri Office

Cardinals, Cordish Top Out Class A Office Tower in St. Louis

by Kristin Harlow April 12, 2019

ST. LOUIS — The St. Louis Cardinals and The Cordish Companies have celebrated the topping out of the PwC Pennant Building, the Class A office tower that is part of the $260 million expansion of Ballpark Village in St. Louis. The exterior structure of the 11-story building is now completed. The property is scheduled to open this summer. The office tower, designed jointly by HKS Architects, Hord Coplan Macht and Tao & Lee and constructed by PARIC Corp., will feature street-level retail, modern office amenities and more than 460 structured parking spaces. In addition, PwC will have a private rooftop deck that provides views of Busch Stadium, downtown St. Louis and the Gateway Arch. Joining PwC is investment banking firm ButcherJoseph & Co., which will occupy more than 8,000 square feet.

April 12, 2019

Development Maryland Southeast Top Stories

Greenberg Gibbons, Seritage Growth Partner for $150M Redevelopment Project at Metro Baltimore Mall

by David Cohen April 12, 2019

COCKEYSVILLE, MD. — Greenberg Gibbons has formed a joint venture with Seritage Growth Properties to redevelop a 13.8-acre parcel at Hunt Valley Towne Center in Cockeysville. Greenberg Gibbons owns the property, a mixed-use shopping center situated at 118 Shawan Road, 18 miles north of downtown Baltimore. Initial plans for Phase I of the $150 million redevelopment include renovations to the former two-story Sears building and Sears Auto Center. Michael’s and HomeGoods are open on the first floor, while more retail and entertainment concepts are being targeted for the second floor. “[This venture is] an example of our strategy to partner with successful local developers to unlock value at our properties through intensive redevelopment and site densification,” says James Bry, executive vice president of development and construction at Seritage Growth Properties. Wegmans, Regal Cinemas and Marshalls anchor the center. Other tenants include Jos. A. Bank, Dick’s Sporting Goods, Francesca’s Collection, DSW and Ann Taylor Loft. — David Cohen

April 12, 2019

Development Midwest Missouri Office

McCarthy-Led Team to Construct $711.7M Campus for NGA in St. Louis

by Kristin Harlow April 11, 2019

ST. LOUIS — McCarthy HITT, a joint venture of McCarthy Building Cos. Inc., HITT Contracting, Black & Veatch Special Projects Corp., Gensler and Akima LLC, has been selected by the National Geospatial-Intelligence Agency (NGA) to build its new campus in north St. Louis. The total project budget of about $1.7 billion includes the McCarthy HITT contract of $711.7 million, land procurement, post-construction outfitting of the building and small business construction projects. Funds are appropriated through the Pentagon’s military construction budget and Congress has authorized spending over several budget cycles. The campus will be built on a 97-acre site at Jefferson and Cass avenues. Designed to replace the current NGA facility located south of downtown, the new development will feature a 712,000-square-foot office building, parking garages, a visitor center, remote inspection facility and access control points. The U.S. Army Corps of Engineers will oversee design and construction. Preliminary work beginning this spring will include various design and pre-construction activities, submittals and joint planning. Major construction work will begin in early 2020, with plans for the campus to be operational in 2025. NGA has had a presence in St. Louis for seven decades and currently employs more than 3,000 workers locally.

April 11, 2019

Development Illinois Industrial Midwest

Meridian Breaks Ground on 84,000 SF Meat Processing Facility in Chicago

by Kristin Harlow April 11, 2019

CHICAGO — Meridian Design Build has broken ground on an 84,000-square-foot USDA meat processing plant for Amylu Foods in Chicago’s Stockyards Industrial Park. The new sausage processing facility will include 56,000 square feet of production and cold-storage space and a freezer. The property will also include 16,500 square feet of corporate office space, including separate raw and cooked facilities, test kitchens and a laboratory. An expandable ammonia refrigeration plant will accommodate plant cooling and production loads. Harris Architects and Kimley-Horn make up the project team.

April 11, 2019

Development Illinois Midwest Retail

Woodmont Co. to Develop 15,000 SF Retail Center in Grayslake, Illinois

by Kristin Harlow April 11, 2019

GRAYSLAKE, ILL. — The Woodmont Company has unveiled plans to develop a 15,000-square-foot retail center in Grayslake, about 50 miles north of downtown Chicago. Known as Washington & Barron Commons, the four-building property will be situated at the corner of Washington Street and Barron Boulevard. Construction on Phase I is expected to begin this summer. Phase I will include a 9,000-square-foot building for Kiddie Academy and a 4,500-square-foot single-tenant building. Phase II will include an 8,000-square-foot multi-tenant building as well as a 3,000-square-foot single-tenant building. Grant Gary and Robert Snider of Woodmont will market the property for lease.

April 11, 2019

Development Hawaii Hospitality Western

Ike Place Hotels, R.D. Olson Begin Construction of AC Hotel Wailea in Hawaii

by Amy Works April 11, 2019

WAILEA, HAWAII — Ike Place Hotels and R.D. Olson Construction have started the ground-up construction of AC Hotel Wailea, a four-story estate hotel located at the corner of Wailea Ike Place and Wailea Ike Drive in Wailea. Situated on three acres, the 70,000-square-foot property will feature 110 guestrooms including one-bedroom suites and studio options, a business center, fitness area and infinity-edge pool with a poolside tiki bar and cabanas. The property will features a Polynesian design with modern flare and offer guests ocean-view and mountain-view room options with private lanais. Additionally, the property will feature indoor/outdoor lounge spaces and an 85-car parking lot. The project team includes R.D. Olson Development, Architects Hawaii Limited and SAND Design. Completion is slated for fall 2020.

April 11, 2019

Development Industrial Texas

CT Realty Begins Construction of 882,565 SF Logistics Center at AllianceTexas in Fort Worth

by Taylor Williams April 11, 2019

FORT WORTH, TEXAS — CT Realty has begun construction of Westport Logistics Center, an 882,565-square-foot industrial project located within the Alliance submarket of Fort Worth. The facility, which is being developed in a joint venture with Mitsubishi’s Diamond Realty Investments, will be situated within a mile of Interstate 35 and adjacent to Fort Worth Alliance Airport, as well as the BNSF intermodal railway. The project will consist of two buildings in either single-sided or cross-dock configurations, with 32- and 36-foot clear heights, 185-foot truck courts and build-to-suit office spaces. Completion is slated for the fourth quarter. Westport Logistics Center is CT Realty’s fourth major industrial development in the DFW metroplex.

April 11, 2019

Development Multifamily New Jersey Northeast Seniors Housing

Capitol Seniors Housing, Chelsea Senior Living Open $29.3M Community in New Jersey

by Kristin Harlow April 10, 2019

SHREWSBURY, N.J. — Investment and development firm Capitol Seniors Housing and operator Chelsea Senior Living have opened The Chelsea at Shrewsbury, an assisted living and memory care community located approximately 20 miles south of New York City. Development costs were estimated at $29.3 million for the three-story, 73,000-square-foot property. The community features a total of 85 units, 27 of which are for memory care. Meyer Senior Living Studio, based in the Philadelphia area, designed the community. Chelsea will collaborate with Shrewsbury’s Guild of Creative Arts, the oldest and largest art community in New Jersey, for amenities and activities. Chelsea Senior Living operates more than 17 communities, including 14 in New Jersey. In addition to The Chelsea at Shrewsbury, Capitol Seniors Housing is currently building another community Chelsea will operate in Greenburgh, N.Y., slated to open this September.

April 10, 2019

California Development Multifamily Western

MBK Rental Living Buys 14.5-Acre Site in Southern California for Azure Multifamily Community

by Amy Works April 10, 2019

SANTA MARIA, CALIF. — MBK Rental Living has acquired a 14.5-acre land site in Santa Maria for the development of Azure, a multifamily property. Easton Plaza LP sold the site for an undisclosed price. Upon completion, Azure will feature 318 two- and three-story garden-style apartments ranging in size from 406 square feet to 1,211 square feet. Community amenities will include two swimming pools, two hot tubs, a dog park, sports court, fitness center and playground. Grading of the site is slated for this spring, with leasing expected to begin in mid- to late-2020.

April 10, 2019

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