development1

Spectrum, Invesco to Develop Five-Acre Mixed-Use Project in Charlotte

by Amy Works October 22, 2018

CHARLOTTE, N.C. — The Spectrum Cos., in partnership with Invesco Real Estate, is developing a mixed-use project located on a five-acre tract linking Charlotte’s South End with its Uptown business district. Located on South Tryon Street at Carson Boulevard, the project will include two nine-story, 220,000-square-foot office buildings, an urban plaza with event space, 40,000 square feet of street-level restaurant and retail space and a 200-room boutique hotel atop a parking deck. The office component includes a flared design that offers private terraces on each floor overlooking the urban plaza, street-level retail and Uptown city lights. Located on top of a parking deck, the lifestyle hotel will include a rooftop bar. The project is the first venture between Spectrum and Invesco.

October 22, 2018

Development Midwest Mixed-Use Ohio

Silverman & Co. Begins Development of The District at Deerfield Near Cincinnati

by Kristin Harlow October 22, 2018

DEERFIELD TOWNSHIP, OHIO — Silverman & Co. Inc. has broken ground on Phase I of The District at Deerfield, a $120 million mixed-use project in Deerfield Township near Cincinnati. Phase I includes a 242-unit apartment property known as One Deerfield and a medical office complex to be occupied by Mercy Health. Floor plans at One Deerfield will range from 590 to 1,600 square feet. Community amenities will include a wine and beer garden, fire pit, pool, fitness center, coffee bar, gaming lawn, pet spa and dog parks. Completion is slated for fall 2019. Phase II will encompass a variety of commercial offerings, with an emphasis on premier dining, shopping and entertainment. OnSite Retail Group will oversee the lease-up of the 95,000-square-foot retail and restaurant space. Plans also call for a 150-room hotel and a community park.

October 22, 2018

Development Midwest Multifamily Wisconsin

Korb + Associates, Thornton Tomasetti Unveil Design for Proposed 21-Story Timber Tower in Milwaukee

by Kristin Harlow October 22, 2018

MILWAUKEE — Korb + Associates Architects and structural engineering firm Thornton Tomasetti have unveiled the design for a proposed 21-story timber tower in downtown Milwaukee. New Land Enterprises is the developer for the 410,000-square-foot project known as Ascent. The multifamily building will include street-level retail space. At 238 feet tall, the tower is poised to become the tallest timber structure in the western hemisphere, according to Thornton Tomasetti. Mass timber structures help absorb carbon dioxide and save energy. They performs as well as, or better than, traditional materials in fire, earthquake and wind conditions, according to the project team. Construction is expected to begin in the fall of 2019.

October 22, 2018

Development Multifamily Student Housing Texas

WGC Development Breaks Ground on 405-Bed Student Housing Property Near University of Houston

by Taylor Williams October 19, 2018

HOUSTON — WGC Development, in conjunction with an undisclosed institutional investor, has broken ground on Tower 5040, a 405-bed student housing community located near the University of Houston. The eight-story building will offer one-, two- and four-bedroom units. Select apartments will feature large balconies with fire pits. Shared amenities will include a swimming pool with an adjacent movie screen, a fitness center, conference room, business center, private study rooms, a game room, indoor and outdoor socializing areas and a dog park. Humphreys & Partners Architects designed the community, and Arch-Con Construction will handle construction. Nick Gonzalez of GRC Capital arranged equity and debt financing on behalf of the partnership. The property is set to open in summer 2020.

October 19, 2018

Alabama Development Multifamily Southeast

Foshee Residential to Open High-Rise Loft Development in Downtown Montgomery

by Amy Works October 19, 2018

MONTGOMERY, ALA. — Montgomery-based Foshee Residential Management Co. is developing The Historic Bell Lofts, the only high-rise loft development in Montgomery. The mixed-use redevelopment will feature 88 luxury lofts and several thousand feet of ground-floor commercial space. The building was once home to The Beauvoir Club, which later merged with the Montgomery County Club. Other previous tenants include Alabama Power Co., Algernon Blair Construction Co., doctors offices, law firms, construction companies and other businesses. Preleasing for will begin at 5:00 p.m. on Monday, Oct. 22, and the property is slated for completion in spring 2019.

October 19, 2018

Development Multifamily North Carolina Southeast

Morgan Bond Opens 369-Unit Apartment Community in Charlotte’s SouthPark District

by Amy Works October 19, 2018

CHARLOTTE — Morgan Bond Co. has opened Inspire Southpark, an apartment development in Charlotte’s SouthPark neighborhood. Morgan Bond Co. is a joint venture between Chicago-based Bond Cos. and La Jolla, Calif.-based Morgan Holdings. Designed by Kathy Andrews Design, the 369-unit property features one- and two-bedroom apartment units in a mix of layouts ranging from 621 square feet to 2,032 square feet. Rents start at $1,300 for studio units and range to $4,225 for three-bedroom units. All residences feature open-concept floor plans with oversized windows, nine-foot ceilings, high-end finishes and fixtures, wood cabinetry, custom walk-in closets, frameless shower doors, Nest thermostats and keyless door entry. Community amenities include The Clubhouse with a demonstration kitchen and party room; The Morrison private dining room; Inspire Society Social Hall, a gaming center; The Lounge, a club-inspired gathering space with a golf simulator, poker table and TV; Groomingdale’s, a pet spa managed by The Dog Salon; Happy Tails, an indoor doggy daycare; and two dog parks. Additional amenities include the Inspire Fitness and Wellness Center; an outdoor yoga studio; spa with sauna, nail and massage services; the Grand Lawn with a 25-meter pool with sundeck, grilling stations, a pizza oven and fire pits; Sprockets bike …

October 19, 2018

Development Michigan Midwest Multifamily

Broder & Sachse Reopens Historic Apartment Building in Detroit Following $12M Rehabilitation

by Kristin Harlow October 19, 2018

DETROIT — Broder & Sachse Real Estate has reopened The Hamilton Midtown in Detroit. Originally designed as an apartment hotel that opened in 1913, the property now offers 97 apartment units. The $12 million rehabilitation of the property features new amenities, such as a lounge with gaming and other entertainment, living room with coffee station, fitness and wellness center, dog washing station, and bike repair station. The rehabilitation also included the restoration of the ballroom. Monthly rents start at $722 per month. Sachse Construction served as the construction manager and Hamilton Anderson Associates was the architect. The City of Detroit and United Community Housing Coalition helped create an inclusionary housing program for qualified residents so that, upon completion of renovations, more than 75 percent could return to the building at an affordable rental rate.

October 19, 2018

Development Illinois Industrial Midwest

J.C. Anderson Completes 108,000 SF Office, Warehouse Build-Out in Itasca, Illinois

by Kristin Harlow October 19, 2018

ITASCA, ILL. — J.C. Anderson has completed a 108,000-square-foot office and warehouse build-out for Glass Solutions Inc. in Itasca. The property is located at 960 Maplewood Drive. The scope of the project included a 23,000-square-foot office build-out and an 85,000-square-foot warehouse build-out. The office portion includes private offices, a collaboration area, executive conference room, break room and new locker rooms. The warehouse features new electrical, LED lighting and heating units. J.C. Anderson also reworked the dock and delivery areas to create a more efficient flow. Seth Erlich, Andrew Mott and Steve Perry of J.C. Anderson led the project team. Scot Ferguson of Antunovich Associates provided architectural services.

October 19, 2018

Acquisitions Development North Carolina Retail Southeast

Willard Retail Buys Land for 150,000 SF Town Center Project in Raleigh’s Research Triangle Park

by Amy Works October 19, 2018

RALEIGH, N.C. — Chevy Chase, Md.-based Willard Retail has signed an agreement with the Research Triangle Foundation to acquire a 12-acre parcel located in Research Triangle Park. The site is at the convergence of Interstate 40, Highway 54 and Davis Drive in Raleigh. Willard Retail plans to develop a 150,000-square-foot town center to serve as the shopping and dining core of Park Center — a large mixed-use development project included more than 1,000 residential units, a hotel, conference center and more than 1 million square feet of office space. Expected to open in late 2020, the new retail component is slated to include a grocery store, health club and a mix of restaurants and small shops. Additionally, the development will feature outdoor public spaces for programmed events such as yoga classes, movie nights and live music. Willard Retail has engaged CBRE|Raleigh to lead the project’s leasing activities.

October 19, 2018

California Development Industrial Western

Rockefeller Group Delivers 1.9 MSF of Industrial Product in Inland Empire, Sells Two Buildings Totaling 1.1 MSF

by Amy Works October 19, 2018

PERRIS AND SAN BERNARDINO, CALIF. — Rockefeller Group has completed construction of two projects totaling 1.9 million square feet of industrial space in the Inland Empire. Upon completion, the company sold two of the of four buildings, totaling 1.1 million square feet. Located in Perris, Optimus Logistics Center includes two speculative buildings totaling approximately 1.5 million square feet. Ferguson Enterprises, a U.S. distributor of plumbing supplies, PVF, waterworks and fire and fabrication products, acquired a 1 million-square-foot distribution facility at the center. The company plans to move and expand its Ontario, Calif., operations to the new facility. The move will enhance Ferguson’s distribution capabilities from 600,000 square feet to more than 1 million square feet. Additionally, Rockefeller Group sold an 81,286-square-foot industrial building at Tri-City Industrial Complex in San Bernardino to 4F Capital. Optimus Logistics Center features a 407,000-square-foot building available for sale or lease, and Tri-City Industrial has a 344,249-square-foot property available. Both buildings can be subdivided to approximately 138,000 square feet to accommodate a variety of end-user requirements. Mike McCrary, Peter McWilliams and Sharon Wortmann of JLL represented Rockefeller Group in the Optimus transaction, while Darla Longo, Bill Pellington, Len Santoro, Joey Sugar and Kevin Wille of CBRE …

October 19, 2018

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