development1

Joint Venture Breaks Ground on Transit-Oriented Multifamily Community in Metro D.C.

by Camren Skelton July 13, 2018

ALEXANDRIA, VA. — A joint venture between Novare Group, Mulberry Development Group and Mill Green Partners has broken ground on Cameron Park, a 302-unit apartment community located adjacent to the Van Dorn Metro Station in Alexandria, roughly eight miles south of Washington, D.C. The community will offer a mix of studio to three-bedroom units. Amenities at Cameron Park will include a pool with sundeck, grilling stations, outdoor cabanas, fitness center, separate yoga room, clubroom, game room, cyber café, business center and private offices. KTGY is the project architect, and Fortune-Johnson is the general contractor. Preferred Apartment Communities (PAC) and Citizens Bank are providing construction financing for the project. PAC provides mezzanine loans to development projects and also enters into purchase options to acquire the projects once stabilized. Construction on Cameron Park is scheduled to take 24 months, with the first move-ins expected in the first quarter of 2020.

July 13, 2018

Development Illinois Industrial Midwest

TriStar Properties Is Developing $115M Industrial Campus for WWT Near St. Louis

by Kristin Harlow July 13, 2018

EDWARDSVILLE, ILL. —TriStar Properties is developing a $115 million industrial campus for World Wide Technology (WWT) at Gateway Commerce Center in Edwardsville, just northeast of St. Louis. The 176-acre build-to-suit will include two buildings totaling 2 million square feet. St. Louis-based WWT is an international technology provider with 4,600 employees in more than 70 offices worldwide. WWT plans to use one building for the production and assembly of technology equipment. The other will be used for storage and distribution. The buildings are slated for completion in April and August 2019. The buildings will feature a clear height of 36 feet in addition to dock doors and truck courts. Contegra Construction is the general contractor. PCCP is TriStar’s equity partner in the deal.

July 13, 2018

Development Midwest Mixed-Use Ohio

Blue Horseshoe Ventures to Develop $50M Mixed-Use Project in Gahanna, Ohio

by Kristin Harlow July 13, 2018

GAHANNA, OHIO — Blue Horseshoe Ventures Ltd. is developing Hamilton Towne Centre, a $50 million mixed-use development in Gahanna near Columbus. The project will include a 48,000-square-foot office building that will serve as the corporate headquarters for Blue Horseshoe. Plans also call for a luxury apartment complex, four-story hotel, specialty coffee shop, fitness center and several restaurants. A timeline for completion was not disclosed.

July 13, 2018

Development Industrial Texas

Hillwood to Build Two Industrial Facilities Totaling 1.3 MSF at AllianceTexas in Fort Worth

by Taylor Williams July 12, 2018

FORT WORTH, TEXAS — Hillwood will build two industrial facilities totaling approximately 1.3 million square feet within the AllianceTexas mixed-use development in Fort Worth. Alliance Center North 3 will offer 782,000 square feet and Alliance Northport 1 will total 500,000 square feet. Both properties will feature cross-dock configurations, 36-foot clear heights, ample trailer parking and adjacent land for future parking expansions. Construction of both buildings is expected to begin in August and wrap up by March 2019.

July 12, 2018

Development Hospitality Midwest Missouri

Cordish, Cardinals Break Ground on $65M Loews Hotel in St. Louis

by Kristin Harlow July 12, 2018

ST. LOUIS — The Cordish Companies, the St. Louis Cardinals and Loews Hotels & Co. have broken ground on the new $65 million Live! by Loews hotel in St. Louis. The hotel will be located inside the second phase of Ballpark Village, a mixed-use development surrounding the Cardinals’ Busch Stadium. The eight-story hotel will feature 216 rooms, including 19 suites. An outdoor terrace will feature a bar called “Gashouse Gang,” a nickname given to the Cardinals baseball team that ultimately won the World Series in 1934. The hotel will also include a wine bar, bourbon bar, second-level terrace bar and open display kitchen. The second level will include 17,000 square feet of meeting and event space. HKS Architects Hospitality Studio designed the hotel. The $260 million second phase of Ballpark Village also features a 29-story apartment tower, a Class A office tower anchored by PricewaterhouseCoopers and a three-story retail pavilion anchored by Onelife Fitness.

July 12, 2018

Development Midwest Minnesota Multifamily

Opus Completes 246-Unit Apartment Project in Edina, Minnesota

by Kristin Harlow July 12, 2018

EDINA, MINN. — The Opus Group has completed The Loden, a 246-unit apartment project in Edina. The site was formerly home to a vacant office building. Amenities include an outdoor pool deck and hot tub, fitness center, yoga studio, dog wash, bike storage and work-from-home space. From alcoves to two-bedroom units with dens, the floor plans range from 498 to 1,322 square feet. Opus Development Co. was the developer, Opus Design Build was the builder and Opus AE Group was the interior designer, architect and structural engineer of record. The Excelsior Group will manage the property and oversee leasing efforts.

July 12, 2018

Development Georgia Hospitality Southeast

Dream Hotel Group, Cartel Properties to Develop 200-Room Hotel in Atlanta’s Buckhead District

by Camren Skelton July 12, 2018

ATLANTA — Hotel and brand management company Dream Hotel Group, in partnership with Atlanta-based Cartel Properties, has unveiled plans to develop Dream Atlanta, Buckhead. The 200-room hotel will be located near the intersection of Peachtree, Roswell and East Paces Ferry roads in Buckhead Village. In addition to guest suites, Dream Atlanta, Buckhead will feature 90 private residences, a spa and wellness concept and five dining and nightlife venues, including a 17,000-square-foot rooftop pool, bar and lounge. The dual-tower development will also include 80,000 square feet of additional office and retail space. New York-based Dream Hotel Group currently operates 18 hotels, with more than 20 others in various stages of development. Atlanta-based architecture firm Cooper Cary is designing Dream Atlanta, Buckhead, which is scheduled to open in 2021.

July 12, 2018

Development Michigan Midwest

Corporate Eagle Breaks Ground on New Headquarters at Airport in Waterford, Michigan

by Kristin Harlow July 11, 2018

WATERFORD, MICH. — Corporate Eagle, a provider of fractional jet ownership and jet management services, has broken ground on its new headquarters at the Oakland County International Airport in Waterford. Located on 5.7 acres at the corner of Highland Road and Patterson Parkway, the new facility will include 56,000 square feet of hangar space, 9,000 square feet of business and member VIP facilities, 85,000 square feet of concrete tarmac and jet fuel storage for 40,000 gallons. Corporate Eagle currently operates out of a 58,000-square-foot facility less than a quarter-mile east of the future site.

July 11, 2018

California Development Hospitality Loans Office Western

HFF Arranges $250M Development Financing for Bay Area Office, Hotel Project

by Amy Works July 11, 2018

MOUNTAIN VIEW, CALIF. — HFF has arranged the $250 million capitalization of Ameswell Mountain View, a fully entitled mixed-use project under development in Mountain View. Bruce Ganong, Michael Leggett, Ben Bullock, Thomas Foley, Austin White and Bercut Smith of HFF arranged the joint venture equity partnership with Rockwood Capital for the borrower, Broadreach Capital. Additionally, the HFF team worked on behalf of both parties to secure $140 million in construction financing with Wells Fargo Bank. Ameswall will feature a 255-room independent hotel and a 216,700-square-foot Class A office building. The Ameswall Hotel will feature a creative, local design with a strong emphasis on art and technology; 6,258 square feet of meeting and events space; food and beverage offerings, including a destination bar and restaurant and a grab-and-go market; and outdoor gathering spaces with a swimming pool, fire pits, bocce ball court and a lawn. Aiming for LEED Platinum certification, the five-story creative office building will feature floor-to-ceiling glass lines to provide natural light, 14-foot ceilings and 47,000-square-foot floorplates. Amenities for the property include a 2.5-acre park, terraces, break-out areas to merge workspace and nature, dedicated bike and pedestrian trails, and electric vehicle charging stations. The development will also feature a …

July 11, 2018

Development Georgia Mixed-Use Southeast

Construction Underway, First Tenants Announced at $40M Mixed-Use Project on Atlanta’s Upper Westside

by Camren Skelton July 11, 2018

ATLANTA — Eden Rock Real Estate Partners, in partnership with Stein Investment Group and Frank Buonanotte, has kicked off construction on Westside Village, a $40 million adaptive reuse project on Atlanta’s Upper Westside district. Redevelopment plans call for the transformation of the existing 51,000-square-foot warehouse building situated along Marietta Boulevard, the demolition of other smaller buildings and the new construction of three additional commercial buildings on the 10-acre site. The 100,000-square-foot development will also include 19 townhomes. The first announced tenants at the development are Primrose Schools, an early education and childcare provider, and The Refinery, a fitness training club. Primrose Schools will open a 12,400-square-foot facility, serving infants through Kindergarten-aged children. The Refinery will open an 11,700-square-foot facility that will offer adult fitness training, youth sports performance enhancement training, a private Pilates studio and a therapeutic “chiro-spa” for sports recovery, pain management and everyday wellness. Both tenants are expected to open at Westside Village in early 2019. Additional retailers, restaurant and service providers are expected to be announced within the next 60 days. Atlanta-based Shroeder Architects is the architect for the project, which is slated for completion by spring 2019.

July 11, 2018

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