development1

Topgolf to Anchor 223-Acre Mixed-Use Development Near Miami

by John Nelson March 3, 2023

POMPANO BEACH, FLA. — Topgolf is underway on the construction of a three-level venue located at the intersection of Powerline Boulevard and Race Track Road in Pompano Beach, roughly 35 miles north of Miami. Scheduled to open late this year, the new location will anchor Live! Pompano Beach, a 223-acre, mixed-use project currently being developed by The Cordish Cos. and Caesars Entertainment. The new Topgolf will feature 102 climate-controlled hitting bays, a full-service restaurant, rooftop terrace, outdoor patio, music, private event space and family-friendly programs year-round.

March 3, 2023

California Development Life Sciences Western

BentallGreenOak, Graymark Capital Plan 100,000 SF Bayshore Bio Life Sciences Campus in Palo Alto, California

by Amy Works March 3, 2023

PALO ALTO, CALIF. — BentallGreenOak and Grey Matter by Graymark Capital have started construction on Bayshore Bio, a 100,000-square-foot life sciences campus in Palo Alto. The project is a three-phase conversion of existing office and R&D buildings into lab space. The initial phase includes a two-story, 36,000-square-foot life sciences facility at 2225 E. Bayshore Road. The first phase will convert an existing office building into market-ready lab spaces across two floors with upgraded electrical capacity, new mechanical systems, office space, amenities and dedicated parking. The first building is slated for completion by the end of third-quarter 2023. The project will incorporate indoor/outdoor amenity spaces within the private courtyard and on each floor for collaboration in and out of lab spaces. The second and third phases include single-story R&D buildings at 2197 Bayshore Road and 1050 E. Meadow Circle. BGO and Gray Matter initially acquired the Bayshore Bio campus in June 2021. The three former office and R&D buildings will be converted into modern lab space with a 60/40 lab-to-office ratio for biological research and development. The spaces are designed for early-stage, venture-capital-backed life science companies.

March 3, 2023

Civic Development Midwest Missouri

New $1.5B Terminal Opens at Kansas City International Airport

by Kristin Harlow March 2, 2023

KANSAS CITY, MO. — The new 40-gate terminal at Kansas City International Airport has opened for commercial air service. At just over 1 million square feet and a budget of $1.5 billion, the terminal marks the largest single infrastructure project in the city’s history, according to the airport. The new terminal features spacious gate areas, nearly 50 local and national food and beverage concepts, and shopping experiences. Two moving walkways expedite transfers between the two concourses. Consolidated and flexible security checkpoints with 16 lanes were designed to accommodate the ebb and flow of passenger volume. A new 6,200-space garage is adjacent to the terminal with covered parking. The new terminal replaces the previous three-terminal format at the airport. Terminal A was razed to make way for construction of the new terminal and garage. Terminals B and C remained in operation, but they officially close with the opening of the new terminal. The two old terminals will be razed. The Terminal B garage will remain open and serve as employee parking, and the Terminal C garage will be used for public parking in the future. Led by developer Edgemoor Infrastructure & Real Estate and its design-build partner Clark | Weitz | …

March 2, 2023

Arkansas Development Multifamily Southeast

Mia Rose Breaks Ground on $55M Apartment Community in Rogers, Arkansas

by John Nelson March 2, 2023

ROGERS, ARK. — Mia Rose Holdings LLC has broken ground on The Junction of Scottsdale, a 226-unit apartment community located adjacent to Scottsdale Center mall in Rogers. The $55 million project represent the third multifamily development in northwest Arkansas for the St. Louis-based developer. Situated on nearly 10 acres at the intersection of North 40th and West Olive streets, The Junction will feature seven three-story buildings comprising one- and two-bedroom floor plans ranging in size from 751 to 1,109 square feet. Amenities will include a resort-inspired pool, clubhouse, two fitness centers, business center with leasable coworking space, covered parking and numerous greenspace gathering areas. First National Bank of Fort Smith provided an undisclosed amount of construction financing for the project. The design-build team includes Rosemann & Associates, Thomas Construction, The Engenuity Inc. and Crafton Tull. Asset Living will manage the property on behalf of Mia Rose.

March 2, 2023

Development Office Texas

OliveMill Holdings Begins Renovation of 240,000 SF Office Building in North Dallas

by Taylor Williams March 2, 2023

DALLAS — Locally based development and investment firm OliveMill Holdings has begun renovations on a 240,000-square-foot office building located at 2801 N. Central Expressway in North Dallas. The 18-story building was originally developed in 2015 as the headquarters office for advertising agency The Richards Group. Capital improvements will include upgrades of the ground floor, bathrooms, lobby and elevators, as well as a rebranding of the property as One West Village. Gensler is designing the project, which is slated for completion this summer. OliveMill Holdings owns the building in partnership with Angelo Gordon and Hunt Realty Investments.

March 2, 2023

Affordable Housing Development Multifamily Texas

Mintwood Real Estate Breaks Ground on 219-Unit Mixed-Income Residential Project in Dallas

by Taylor Williams March 2, 2023

DALLAS — Locally based developer Mintwood Real Estate has broken ground on Oakhouse, a 219-unit mixed-income residential project that will be located in the Oak Cliff area of Dallas. Mintwood is developing the project in partnership with Mirasol Capital and New York City-based MSquared. Approximately half the units will be reserved for households earning 80 percent or less of the area median income. Amenities will include a pool, fitness center, dog park, children’s play area and a resident lounge. WDG Associates is the designing the project, and Rogers O’Brien is the general contractor. Independent Financial provided construction financing. Completion is slated for late summer 2024.

March 2, 2023

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Advenir Oakley Breaks Ground on $78M Build-to-Rent Residential Project in Greer, South Carolina

by John Nelson March 1, 2023

GREER, S.C. — Advenir Oakley Capital LLC has begun site work for LEO Jamestown, a $78 million build-to-rent (BTR) residential community in Greer, part of the Greenville-Spartanburg metropolitan area in Upstate South Carolina. The 296-unit project will span nearly 35 acres at the corner of South Main and Roscoe Drive, about one mile outside of downtown Greer. LEO Jamestown will feature a mix of one-, two- and three-bedroom cottages with nine-to-15-foot ceilings, wood-grain flooring, in-unit washers and dryers, a smart-home technology package, private backyards, on-call maintenance and optional enclosed garage parking. Neighborhood amenities will include courtyards with pavilions and grill stations, a central clubhouse with a resort-style pool, fitness center, dog park and valet trash. One-bedroom homes will average 882 square feet and rent for approximately $1,800 per month; two-bedroom units will average 912 square feet and rent for $2,100; and three-bedrooms will come in 1,510-square-foot floor plans and rent for $2,600. Advenir Oakley expects to fully deliver the property by December 2024, with first deliveries currently scheduled for this October. The design-build team includes Birmingham-based Nequette Architecture & Design and general contractor Capstone Building Corp. Advenir Living will be the property manager.

March 1, 2023

Affordable Housing Development Hawaii Multifamily Seniors Housing Western

EAH Housing Breaks Ground on $58M Affordable Seniors Housing Community in Hilo, Hawaii

by Amy Works February 28, 2023

HILO, HAWAII — EAH Housing has broken ground on Hale Nā Koa ‘O Hanakahi, an affordable seniors housing community for veterans in Hilo, located on the east coast of the “Big Island” of Hawaii. Development costs are estimated at $58 million. In partnership with Hawaii Island Veterans Memorial Inc. (HIVM), EAH Housing will develop the residential component of the master-planned complex that will also include a community-based outpatient clinic. The property will be built on 5.5 acres owned by the County of Hawaii. The 92-unit affordable living community will be available to veterans, surviving spouses and other income-qualified seniors age 62 or older. The one-bedroom apartments will be offered at rents affordable to individuals and couples earning 30 percent to 80 percent of area median income (AMI). Funding sources for the project include $30 million in Hula Mae multifamily bond financing along with $16.9 million in Rental Housing Revolving Fund loans and approximately $2.5 million in annual state and federal Low-Income Housing Tax Credits from the Hawai‘i Housing Finance Development Corporation (HHFDC). The investor in those credits is Enterprise Housing Credit Investments, with permanent financing from Bank of Hawai‘i. Additional funding is provided by the County of Hawaii through its …

February 28, 2023

Development Multifamily Texas

Abby Development to Build 280-Unit Apartment Community in Cleburne, Texas

by Taylor Williams February 28, 2023

CLEBURNE, TEXAS — Dallas-based Abby Development will build a 280-unit apartment community in Cleburne, about 30 miles south of Fort Worth. The unnamed development will feature one-, two- and three-bedroom units that will be furnished with stainless steel appliances, stone countertops, walk-in closets and private balconies/patios. Amenities will include a pool, fitness center, resident lounge, outdoor grilling and dining areas, business center and a dog park. Berkadia provided construction financing for the project, which is slated for a late 2024 delivery.

February 28, 2023

Affordable Housing Development Hawaii Multifamily Seniors Housing Western

EAH Housing Breaks Ground on $58M Affordable Seniors Housing Community in Hilo, Hawaii

by Amy Works February 28, 2023

HILO, HAWAII — EAH Housing has broken ground on Hale Nā Koa ‘O Hanakahi, an affordable seniors housing community for veterans in Hilo, located on the east coast of the “Big Island” of Hawai‘i. Development costs are estimated at $58 million. In partnership with Hawai‘i Island Veterans Memorial Inc. (HIVM), EAH Housing will develop the residential component of the master-planned complex that will also include a community-based outpatient clinic. The property will be built on 5.5 acres owned by the County of Hawai‘i. The 92-unit affordable living community will be available to veterans, surviving spouses and other income-qualified seniors age 62 years or older. The one-bedroom apartments will be offered at rents affordable to individuals and couples earning 30 percent to 80 percent of area median income (AMI). Funding sources for the project include $30 million in Hula Mae multifamily bond financing along with $16.9 million in Rental Housing Revolving Fund loans and approximately $2.5 million in annual state and federal Low-Income Housing Tax Credits from the Hawai‘i Housing Finance Development Corporation (HHFDC). The investor in those credits is Enterprise Housing Credit Investments, with permanent financing from Bank of Hawai‘i. Additional funding is provided by the County of Hawai‘i through …

February 28, 2023

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