SAN FRANCISCO — San Francisco Campus for Jewish Living (SFCJL), a continuing care retirement community in San Francisco, has opened a preview center at its 190-unit Frank Residences expansion. The $140 million project will add 113 assisted living apartments and 77 memory care suites. The expansion includes 270,000 square feet of new construction, plus renovations to the community’s 362 skilled nursing units. The new units are slated for occupancy in late 2019. “SFCJL leadership embarked on this project because they saw there was a real need in the community for modern housing where older adults could receive higher levels of care,” says Staci Chang, director of marketing and communications. “With this expansion, we are creating an economically sustainable model that will be viable for generations to come and expanding our services to serve the needs and wants of a broader population of older adults and their families.” In addition to the new residential units, SFCJL is creating a “downtown” on campus with social and cultural activities, as well as medical services. Named Byer Square, the area will feature a primary, specialty and integrative health care clinic, along with a fitness and aquatics center, library, café, cinema, and a cultural and …
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CHICAGO — Skender has completed interior construction of Upwork’s new 34,000-square-foot headquarters in Chicago. Upwork, a website for hiring freelancers, has relocated to 525 W. Van Buren St. from its former space at 224 N. Desplaines St. Upwork’s space includes a café, server room, reception area, executive suite and open office concept for workstations. Upwork plans to build out an additional 34,000 square feet for use in 2020. Skender collaborated with architecture firm SCB, engineering firm Syska Hennessy Group and the building owner’s representative, Cresa.
HOUSTON — Hines will develop The Preston, a 46-story residential tower in downtown Houston that will feature 373 for-rent residences and 6,800 square feet of ground-floor retail and restaurant space. The property will be situated near multiple public transit lines and adjacent to Hines’ 1 million-square-foot office project at 800 Texas Ave. Amenities will include a pool, cabanas, yoga lawn, fitness center, co-working office space and multiple social lounges with coffee bars. The project team includes design architect Munoz + Albin, landscape architect TBG, interior architect Ragni Studio and general contractor Harvey Builders. Construction is slated to begin in March and wrap up during the third quarter of 2022.
Alvarez & Marsal Capital Real Estate to Develop ELEVAR Creative Office Campus in Los Angeles
by Amy Works
LOS ANGELES — Alvarez & Marsal Capital Real Estate recently acquired a 4.3-acre site at 18362-18424 Oxnard St. in Los Angeles’ Tarzana neighborhood for redevelopment into a creative office campus with studio capabilities. The site, which was formerly used as production space, will be redeveloped into ELEVAR, a state-of-the-art studio and creative office campus. Situated at the corner of Oxnard Street and Reseda Boulevard, the asset currently consists of four standalone flex and industrial buildings totaling 73,045 square feet. The new construction will add more than 20,000 square feet, bringing the total project size to 96,500 square feet. The redeveloped campus will feature usable outdoor space, including a greenbelt, WiFi-enabled patios and an artisanal café. Additionally, the campus will feature shaded outdoor areas, above-standard power and data capabilities, high ceilings and a fitness center for tenants. ELEVAR will offer ample surface-level parking and close proximity to the Metro Orange Line Reseda Station. Rob Hooks, Katie Bernhisel and Dillon Moscone of Cushman & Wakefield, along with Kevin Fenenbock and Jacob Mumper of Colliers, will serve as the leasing agents for the property.
Clearwater Living Starts Construction of Seniors Housing Community within Mixed-Use Development in Reno
by Amy Works
RENO, NEV. — Clearwater Living, in partnership with Goldman Sachs, has started construction of Clearwater at Rancharrah, an assisted living and memory care community. The property will be located within the Rancharrah master-planned development in the heart of Reno. The surrounding Rancharrah community will offer a variety of retail, restaurants and recreation to residents. “We are excited about this location within the Rancharrah master-planned community as well as being adjacent to our partners at Revel Rancharrah, an independent living community,” says Tony Ferrero, Clearwater’s CEO. “Clearwater at Rancharrah completes the full continuum of care providing residents assistance with activities of daily living in a state-of-the-art assisted living community.” The two-story community will offer a total of 118 units.
ONTARIO, CALIF. — REDA, a Southern California-based opportunistic real estate investment and development firm, has started construction of the first building within Ontario Ranch Logistics Center. REDA acquired the 125 acres of land for logistics center between November 2017 and April 2018. Building 1 will feature 1.2 million square feet of speculative industrial space, 40-foot clearance heights, 185-foot truck courts, 182 dock-high loading doors, 220 additional trailer parking stalls, and concrete drive and parking areas. Upon complete build out, the logistics center will encompass 2.6 million square feet of industrial space.
SHARON, MASS. — Precision components manufacturer Senior Metal Bellows and construction management firm Dacon have broken ground on a two-story, 47,000-square-foot flex facility in Sharon. The property is an addition to an existing 65,000-square-foot facility at 1075 Boston Providence Highway in Sharon. The project consists of 25,700 square feet of manufacturing space on the first floor with 21,300 square feet of office space on the second floor. The expansion is Senior Metal Bellows’ sixth in the last 50 years due to growth in innovative capabilities, implementation of next-generation machinery and streamlining of operations. Norwood Engineering is the civil engineering firm of record. William Jackson of William Jackson Associates Inc. is serving as project manager. The project is slated for occupancy this summer.
Dekel Capital Structures $59.4M in Construction Financing for Assisted Living Community in Glendale, California
by Amy Works
GLENDALE, CALIF. — Dekel Capital has assembled $59.4 million in debt and equity financing for the development of Sage Glendale Senior Living, a 113-bed assisted living and memory care facility in Glendale. Developed by Willis Development, Sage Glendale Senior Living will feature 81 assisted living units, 24 private memory care units, and four semi-private memory care units. Community amenities will include a community garden, library, theater, classrooms, exercise area, commercial kitchen and beauty salon. Slated for completion in first-quarter 2020, the seniors housing community will be located at 509-525 W. Elk Ave., approximately nine miles north of downtown Los Angeles. The financing consists of a $38.7 million construction loan originated by East West Bank and arranged through Dekel Capital’s advisory practice. The four-year financing, with interest-only monthly payments for the first 36 months of the term, was underwritten at 65 percent loan-to-cost ratio. Dekel also provided $20.7 million in joint venture equity through the firm’s proprietary equity fund Dekel Strategic Investors.
CHICAGO — Skender has completed construction of ShopRunner’s new 25,000-square-foot headquarters in Chicago. The e-commerce start-up company has relocated to 350 N. Orleans St. from 350 N. LaSalle St. The new office has full Wi-Fi capabilities, eliminating the need for data cabling. The open floor plan includes a large conference room. Skender served as interior construction manager. Partners by Design and ConopCo Project Management also assisted in the project.
HOUSTON — Houston-based Medistar Corp. will develop Innovation Tower, a 48-story mixed-use project that will be located within Texas Medical Center in Houston. Phase I of the project will deliver 476,500 square feet of medical and life science office space, a 1,700-space parking garage and retail and restaurant space. Phase II will include either 410 luxury residential units or additional medical and life science office space, depending on market reactions. Construction is expected to begin toward the end of the third quarter. Transwestern will handle leasing of the project.