development1

Trinity Capital to Break Ground on 198,195 SF Office Building Within Charlotte’s Toringdon Office Park

by Camren Skelton June 13, 2018

CHARLOTTE, N.C. — Trinity Capital Advisors will begin construction this month on Toringdon 7, a 198,195-square-foot office building located in Charlotte. The eight-story building will be the seventh and final office building within Toringdon Office Park, which Trinity Capital began acquiring in 2012. After bringing the park under single ownership, the firm invested in capital improvements that included a new fitness center and pocket park. Toringdon 7 will feature column-free floor plans, floor-to-ceiling windows and a parking ratio of four spaces per 1,000 square feet. Architecture firm Gensler designed the building, Brasfield & Gorrie is the project’s general contractor and D&A Wolverine is the civil engineer. Trinity Capital expects to wrap up construction on the building in summer 2019. Located immediately off Interstate 485, Toringdon Office Park is 95 percent leased to tenants such as Blue Cross Blue Shield of North Carolina, Coats, Coldwell Banker, Crown Castle, Harsco, Keller Williams, Novolex, PepsiCo, Regus, Selective Insurance, Heartland Payment Systems and TIAA.

June 13, 2018

The-Realm-at-Castle-Hills-Lewisville-Texas

Development Mixed-Use Texas

Bright Realty Breaks Ground on 324-Acre Mixed-Use Project in Metro Dallas

by Taylor Williams June 13, 2018

LEWISVILLE, TEXAS — Bright Realty has broken ground on The Realm at Castle Hills, a 324-acre mixed-use project located in the northern Dallas metro of Lewisville. The development will deliver office, retail, entertainment and multifamily space. Phase I will center on Offices at The Realm, a nine-story, Class A office building that will span 235,000 square feet of office space and 15,000 square feet of ground-floor restaurant space. The building will front an outdoor park and entertainment space, all of which are slated for delivery in mid-2019. Groundwork on Phase II of the project, a 260-unit multifamily atop 35,000 square feet of retail space, is also underway.

June 13, 2018

Development Midwest Missouri Multifamily

Flaherty & Collins Opens $72M Luxury Apartment Development in Kansas City

by Kristin Harlow June 13, 2018

KANSAS CITY, MO. — Flaherty & Collins Properties and Port KC have opened Union Berkley Riverfront, a $72 million mixed-use development along the Missouri River in Kansas City. Union consists of 407 luxury apartment units and 12,400 square feet of retail space. Indoor amenities include a first-floor bar and coffee shop, a library with co-working and private conference space and 24-hour package center access. A 1,600-square-foot fitness center will include a yoga studio and group cycling. Outdoor amenities include a saltwater pool, dog park, bike storage and courtyard space. TCF Bank provided financing for the 664,812-square-foot project. MW Builders was the general contractor for the project.

June 13, 2018

Oakdale-Logistics-Center-Grand-Prairie-Texas

Development Industrial Texas

CT Realty, Port Logistics Break Ground on 401,577 SF Industrial Facility in Metro Dallas

by Taylor Williams June 12, 2018

GRAND PRAIRIE, TEXAS — A partnership between California-based CT Realty and Texas-based Port Logistics Realty has broken ground on Oakdale Logistics Center, a 401,577-square-foot industrial facility in Grand Prairie. The Class A warehousing and distribution facility will feature a cross-dock configuration, 175 dock-high doors, 32-foot clear heights and 185-foot truck court depths. Completion of the project, which marks the third collaboration between the two firms in the Dallas-Fort Worth (DFW) metroplex, is slated for the first quarter of 2019.

June 12, 2018

Development Illinois Midwest Office

Construction Begins at Innovation and Research Park at Rosalind Franklin University in North Chicago

by Kristin Harlow June 12, 2018

NORTH CHICAGO, ILL. — Construction is underway at the new Innovation and Research Park at Rosalind Franklin University of Medicine and Science in North Chicago. Academic and industry scientists and entrepreneurs will use the property to translate the university’s biomedical research into new treatments for disease. The university hired Cushman & Wakefield to attract international and national bioscience companies to the new science park. The four-story, 100,000-square-foot addition to the campus will feature laboratories as well as conferencing and office space for faculty, commercial startups, and healthcare and life science companies. The University Finance Foundation and Gateway Development completed the $53 million financing for the expansion late last year. Completion is expected by summer 2019.

June 12, 2018

Development Illinois Midwest Multifamily

Contegra Breaks Ground on $26M Apartment Complex in Shiloh, Illinois

by Kristin Harlow June 12, 2018

SHILOH, ILL. — Contegra Construction Co. has broken ground on a $26 million apartment development in Shiloh, about 20 miles east of St. Louis. Known as Thirteen01 at Hartman Lakes, the property will include 216 units on 17 acres. The first of nine apartment buildings in Phase I is scheduled to be available for lease by November. The entire community is slated for completion in July 2019. Community amenities will include a fitness room, pool, fire pit, walking trail and two lakes. One-bedroom apartment rents will start at $950 per month and two-bedroom units at $1,250 per month. Greenmount Retail Center LLC is the developer.

June 12, 2018

Affordable Housing California Development Multifamily Western

Meta Housing Breaks Ground on $38.6M Affordable Housing Community in East Los Angeles

by Amy Works June 12, 2018

LOS ANGELES — Los Angeles-based Meta Housing Corp. has broken ground on Whittier & Downey SE, an affordable housing community located at 4200-4224 Whittier Blvd in East Los Angeles. Slated for completion in fall 2019, the property will feature 71 units in a mix of one-, two- and three-bedroom floorplans. On-site amenities will include an outdoor barbecue area, edible container garden, large courtyard, community room, tot lot, bicycle storage, on-site laundry and a gym. Located adjacent to the Los Angeles Metro Line 18, the property will also feature 3,400 square feet of retail space. As an affordable housing property, the project will reserve 35 of the 71 affordable units as permanent supportive housing. Financing for the $38.6 million project is being provided by the California Tax Credit Allocation Committee, California Housing Finance Agency, Community Development Commission of the County of Los Angeles, Los Angeles County Departments of Health Services and Mental Health, Brilliant Corners and Bank of America Merrill Lynch. The development is part of a two-phase project, with the second phase located at the northeast corner of Whittier Boulevard and Downey Road. The second phase is scheduled to begin construction in spring 2019.

June 12, 2018

Development Retail Texas

IKEA Nixes Plans for 289,000 SF Store in Fort Worth

by Taylor Williams June 11, 2018

FORT WORTH, TEXAS — Swedish furniture giant IKEA has nixed its plans to build a 289,000-square-foot store in Fort Worth, according to an emailed statement sent to the Dallas Business Journal. The store was slated to be part of a 478,000-square-foot development. Construction was scheduled to begin this year with the store targeting summer 2019 for opening. According to the statement and industry sources, the abandoning of the project stems from a changing retail landscape, not an issue with financing or incentives from the city.

June 11, 2018

Development Indiana Midwest Multifamily

Flaherty & Collins to Develop $30M Luxury Apartment Property in Lawrenceburg, Indiana

by Kristin Harlow June 7, 2018

LAWRENCEBURG, IND. — The Lawrenceburg City Council has approved a planned apartment development by Flaherty & Collins Properties. The $30 million project will feature 150 luxury apartment units near the west end of High Street in downtown Lawrenceburg, which is located about 30 miles west of Cincinnati. The project will include one- and two-bedroom units. Completion is slated for 2021, but a groundbreaking date has not been set. The city is expected to contribute $15 million to the project, according to local newspaper Dearborn County Register, but other financing is not yet in place.

June 7, 2018

Development Illinois Midwest Mixed-Use

Structured Development, Carly Partners Plan 37-Acre Mixed-Use Development in North Chicago

by Kristin Harlow June 7, 2018

NORTH CHICAGO, ILL. — Structured Development and Carly Partners have planned Sheridan Crossing, a 37-acre mixed-use development in North Chicago. CBRE has been retained to market for lease more than 76,000 square feet of retail space at the 260,000-square-foot project, which will be located across from the Naval Station Great Lakes. A 107-room hotel and a 10-screen movie theater will anchor the property. KTGY Architecture + Planning is the project architect. Mary Bresnahan and Kim McGuire of CBRE will lead marketing efforts for the project. A timeline for completion was not disclosed.

June 7, 2018

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