development1

Fantini & Gorga Arranges $20.5M in Construction Financing for Seniors Housing Community in Massachusetts

by David Cohen August 15, 2018

CHICOPEE, MASS. — Fantini & Gorga has arranged a $20.5 million construction loan for Chicopee Assisted Living at RiverMills, an assisted living community in the Western Massachusetts city of Chicopee. Once completed in Spring 2019, the three-story, 80,000-square-foot community will include 95 units. The development will be located along the Chicopee River in the city’s historic RiverMills District. Approximately 20 percent of the units will offer memory care services. An additional 20 percent of the units will be reserved as affordable units. The fixed-rate, nonrecourse loan made at a loan-to-cost ratio of 85 percent is for a period of 15 years.

August 15, 2018

Development Illinois Midwest Restaurant Retail

McDonald’s Opens New Flagship Restaurant in Chicago

by Kristin Harlow August 15, 2018

CHICAGO — McDonald’s has opened its newly designed flagship restaurant at Clark and Ontario streets in Chicago. The modern and environmentally friendly design features self-order kiosks, table service, mobile order and payment and delivery. The 19,000-square-foot restaurant includes green spaces and energy-saving features such as a vegetated rooftop, on-site solar panel array for renewable energy collection, LED lighting and more than70 trees at the ground level. Chicago-based Ross Barney Architects designed the restaurant, which is set to operate seven days a week and 24 hours a day. Sydney-based Landini Associates designed the interiors. The new restaurant replaces the previous flagship restaurant, which was a rock ‘n’ roll-themed restaurant that closed in December 2017.

August 15, 2018

Civic Development Midwest Minnesota

Kraus-Anderson Construction Completes $43M Special Education School in Minnesota

by Kristin Harlow August 15, 2018

LITTLE CANADA, MINN. — Kraus-Anderson Construction Co. (KA) has completed Quora Education Center in Little Canada, just north of St. Paul. The $43 million special education school for Northeast Metro 916 Intermediate School District spans three stories and 157,000 square feet. The school will serve 300 students in grades 5 through 12 in both general education and special education programs. The building also includes administrative offices for more than 200 employees. The school will provide services for students who have autism spectrum disorders, developmental cognitive disabilities, emotional/behavioral disorders and other health disabilities. KA partnered with Lawal Scott Erickson Architects to design and construct Quora. The building’s layout allows for classroom, small group and individual learning environments with improved lighting, air quality and temperature control.

August 15, 2018

California Development Hospitality Mixed-Use Office Western

Broadreach, Rockwood Break Ground on $250M Bay Area Mixed-Use Project

by Amy Works August 15, 2018

MOUNTAIN VIEW, CALIF. — Broadreach Capital Partners and Rockwood Capital have broken ground on Ameswell Mountain View, a mixed-use development situated on one of last fully entitled development sites in Mountain View, just northwest of San Jose. Located at the convergence of U.S. 101 and State Route 85, the property is the culmination of four years of planning and land assemblage by Broadreach. Situated on 10 acres, the project will feature a 220,000-square-foot, Class A office building and The Ameswell Hotel, a 255-room luxury hotel. The office building will feature 47,000-square-foot floor plates, ceiling heights up to 16 feet and full-height windows. On-site amenities include a roof deck, terraces and breakout areas to connect tenant space with the outdoor environment. Additionally, parking is structured as three parking stalls per 1,000 square feet of office space. Broadreach has retained Newmark Cornish & Carey as leasing agents for the office building, which is slated for completion in November 2019. Set to open in July 2020, The Ameswell Hotel will feature creative, local design with a strong emphasis on art and technology. The hotel will include more than 6,000 square feet of meeting space, a fitness center, restaurant with outdoor dining, beer garden, …

August 15, 2018

Development Mixed-Use Northeast Pennsylvania Top Stories

BET Investments Breaks Ground on $200M Mixed-Use Project Near Philadelphia

by David Cohen August 15, 2018

UPPER DUBLIN, PA. — BET Investments Inc. (Bruce E. Toll Co.) has broken ground on The Promenade at Upper Dublin, a master-planned, mixed-use project in the Philadelphia suburb of Upper Dublin. Development costs are estimated at $200 million. The project’s residential component will include 402 units and 114 active adult homes. Amenities will include a resort-style pool, gourmet kitchens with quartz countertops, stainless steel appliances and a fitness center. A planned retail component will feature 128,000 square feet of retail space, anchored by a specialty grocer and outdoor lifestyle store as well as shops and restaurants. A 2.7-acre park, more than three miles of walking trails and an outdoor events stage are also planned. The developer is implementing sustainable design features like green roofs, bike sharing and electric car charging stations. “The Promenade at Upper Dublin will be the an exciting destination, with high-end, state-of-the-art apartments that will include resort-like amenities combined with a lively and interesting combination of restaurants and shops providing a great meeting place for the surrounding communities,” says Michael Markman, president of BET Investments. “This ‘live, work, play’ community, combining commercial and residential uses, will be the first of its kind in Eastern Montgomery County.” Upper …

August 15, 2018

Development Maryland Mixed-Use Southeast

Carr Properties Breaks Ground on 937,000 SF Mixed-Use Project in Bethesda

by Camren Skelton August 14, 2018

BETHESDA, MD. — Carr Properties has broken ground on a 937,000-square-foot mixed-use project located at 7272 Wisconsin Ave. in Bethesda. The development will include a 360,000-square-foot office building with ground-floor retail, two residential towers housing 456 units and a shared above- and below-ground parking facility. The office portion of the project has been dubbed “The Wilson,” and the residential portion will be known as “The Elm.” The buildings will sit atop the future Bethesda Purple Line Metro station and a newly constructed tunnel for the Capital Crescent Trail, a multi-use trial that spans 11 miles from D.C.’s Georgetown district to Silver Spring, Md. WTTG-Fox 5 News will move its headquarters from Washington, D.C., to the new development in Bethesda. A construction timeline for the project was not disclosed. Bethesda-based building and civil construction firm Clark Construction Group is building the 23-story towers.

August 14, 2018

Development Industrial Texas

Core5 to Develop 259,882 SF Industrial Project in Plano

by Taylor Williams August 13, 2018

PLANO, TEXAS — Atlanta-based Core5 Industrial Partners will develop Core5 Business Center at Plano, a 259,882-square-foot industrial facility situated on 22.9 acres in Plano. The project will deliver two buildings totaling 164,842 square feet that will feature 24- to 26-foot ceiling heights and parking for 383 cars. Core5 is reserving a third building totaling 95,040 square feet for a build-to-suit opportunity. Citadel Partners will handle the project’s leasing assignment.

August 13, 2018

Alabama Development Industrial Southeast

Burton Property Group to Break Ground on New Headquarters for Aircraft Engine Manufacturer in Mobile

by Camren Skelton August 13, 2018

MOBILE, ALA. — Burton Property Group (BPG) will soon break ground on a new corporate headquarters and manufacturing facility for Continental Motors Group at the Mobile Aeroplex at Brookley, an industrial complex and airport in Mobile. The facility will consolidate the aircraft engine manufacturer’s operations from 11 buildings situated on 45 acres to two buildings on approximately 20 acres. The buildings will total 275,000 square feet, with the majority being dedicated to aircraft engine and parts manufacturing. BPG partnered with Atlanta-based investment firm Stonemont Financial Group to fund the development. Clayco Inc. is designing and building the project, which is expected to take 11 months to complete. Continental Motors Group employs approximately 450 people in Alabama’s Mobile and Baldwin counties.

August 13, 2018

Cedar-Creek-Memory-Care-Community-Edmonds-WA

Development Multifamily Seniors Housing Washington Western

Koelsch Communities Completes $17M Memory Care Community in Edmonds, Washington

by Amy Works August 13, 2018

EDMONDS, WASH. — Koelsch Communities has completed Cedar Creek Memory Care Community, a 60-unit memory care community in the Seattle suburb of Edmonds. Project costs were just over $17 million. Wells Fargo provided $13 million in financing, and the remainder came from private investors. Cedar Creek was designed with what Koelsch calls “historical surprises.” The community features several rooms designed to look like the 1950s, including a Julia Child-style kitchen, a garage featuring a classic car and a great room designed to look like the interior of a traditional log cabin. More than 50 percent of the rooms were reserved prior to the opening of Cedar Creek. Koelsch Communities operates 29 seniors housing properties in eight states, with nine new communities in development.

August 13, 2018

Arizona Development Industrial Western

TCC Buys Southwest Phoenix Site for 554,000 SF Industrial Development

by Amy Works August 10, 2018

PHOENIX — Trammell Crow Co. (TCC) and an institutional investor have acquired a 38.5-acre site south of the southeast corner of 59th Avenue and Lower Buckeye Road in Phoenix’s Southwest submarket. The price was not disclosed. The partnership plans to develop West 202 Logistics Center, a 554,000-square-foot industrial building, on the site. The cross-docked building will feature 36-foot clear heights, signature office entries, all-concrete truck courts and circulation drives. Construction is slated to begin this quarter. Butler Design Group will serve as the project architect and Willmeng Construction as general contractor. Comerica Bank is providing construction financing. Pat Feeney, Dan Calihan, Rusty Kennedy and Bill Bayless of CBRE Phoenix are marketing the project on behalf of the joint venture.

August 10, 2018

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