development1

Lifescapes to Design Redevelopment of Two Entertainment Destinations in Myrtle Beach

by Camren Skelton January 11, 2018

MYRTLE BEACH, S.C. — Landscape architectural firm Lifescapes International has been selected to design the landscapes for the redevelopment of two entertainment centers in Myrtle Beach — Barefoot Landing and Broadway at the Beach. Burroughs & Chapin is leading the multi-year redevelopment of the two destinations. At Barefoot Landing, the redevelopment will include 45,000 square feet of new retail space, a new restaurant district known as Dockside Village, the addition of an amphitheater and a new boardwalk on the south end of the property. Lifescapes will design the landscape for the entire redevelopment, and plans to incorporate a water entertainment feature and show, as well as increase patio space along the waterfront. The firm will use blue stone and brick pavers throughout the center to mimic the look of Charleston. In addition, Lifescapes will add a programmable lawn that will host activities including concerts and an ice skating rink during the holiday season. At Broadway at the Beach, Lifescapes will design the landscape for the entire redevelopment, including The Avenue, the property’s entertainment and nightlife section. The Avenue recently underwent a renovation that included façade upgrades, the relocation of Hard Rock Café, opening of Dave & Buster’s and a new architectural style …

January 11, 2018

Office Texas

Cousins, Partners to Develop $175M, 309,000 SF Office Tower in Downtown Austin

by Taylor Williams January 10, 2018

AUSTIN, TEXAS — A partnership between Atlanta-based Cousins Properties (NYSE: CUZ), Riverside Resources and Ironwood Real Estate will develop 300 Colorado, a 309,000-square-foot office tower that will be located in downtown Austin. Total development costs of the project are anticipated to be about $175 million. The property will be situated across the street from Cousins’ Colorado Tower, a 373,334-square-foot office asset. The property is 100 preleased to independent oil and gas firm Parsley Energy Inc., which has signed a 12-year, 302,000-square-foot lease; and restaurant Del Frisco’s, which has signed a 10-year, 7,000-square-foot lease. The partnership expects to begin construction in December and deliver the building in December 2020.

January 10, 2018

Office Texas

Goldman Sachs, Crescent to Redevelop 200,000 SF Office Asset in Uptown Dallas

by Taylor Williams January 10, 2018

DALLAS — A partnership between Goldman Sachs Asset Management (GSAM) and Crescent Real Estate LLC will redevelop 2401 Cedar Springs, a 200,000-square-foot office building located in the Uptown area of Dallas that it recently acquired from Guidestone Financial Resources. Jack Crews of JLL represented Guidestone in that sale. The single-tenant property was built in 1989 and will soon be vacant. The redevelopment project will focus on the building’s exterior façade and lobby and will deliver new amenities while modernizing the tenant spaces and common areas. A timetable for completion of the project has not yet been established.

January 10, 2018

Loans Mixed-Use Multifamily New York Northeast Retail

Extell Development Closes on $1.1B Financing for Central Park Tower in Manhattan

by Amy Works January 10, 2018

NEW YORK CITY — Extell Development Co. closed on a $1.1 billion construction loan for Central Park Tower on Dec. 29, 2017. The financing package comprised a $900 million senior construction loan syndication led by J.P. Morgan and a $235 million preferred equity loan from a hedge fund. Situated on 57th Street, the 1,550-foot Central Park Tower will be the tallest residential building in the world. Designed by Adrian Smith + Gordon Gill Architecture, the building will feature 179 residences, stratospheric views and a full-service amenity package, as well as a seven-story, 300,000-square-foot Nordstrom department store. Extell is co-developing Central Park Tower with SMI USA, the U.S. subsidiary of Shanghai Municipal Investment.

January 10, 2018

Illinois Midwest Multifamily

Draper and Kramer Breaks Ground on 58-Unit Luxury Apartment Building in Chicago

by Kristin Harlow January 10, 2018

CHICAGO — Draper and Kramer Inc. has broken ground on a boutique apartment building along Chicago’s lakefront. The eight-story rental property, which will be situated on the last undeveloped site on North Lake Shore Drive in the Gold Coast neighborhood and known as 61 Banks Street, will feature a mix of 58 two- and three-bedroom residences. Designed by Larry Booth of Booth Hansen, the building will be topped by a green roof with an outdoor terrace as well as an enclosed rooftop amenity space. Seven “maisonette” residences, which feature two-story units with street-level entrances and private terraces, will flank the ground floor of the property. Jacobs/Ryan Associates is designing the landscaped areas while Leopardo Cos. is serving as the project’s general contractor. Two-bedroom units will average 1,700 square feet while three-bedroom units will average 2,400 square feet. Monthly rents are expected to range from $5,500 to over $12,000. Residents will have access to a full-time concierge and 24-hour valet parking.

January 10, 2018

Hospitality Midwest Missouri

JNS, HDA Architects to Design 192-Room Hotel in St. Louis

by Kristin Harlow January 10, 2018

ST. LOUIS — JNS and HDA Architects have been selected by real estate development company HomeBase to design an AC Hotel by Marriott in St. Louis. The 192-room hotel will feature 1,000 square feet of meeting space. The ground floor will include a common area with a bar, limited-menu restaurant and “European-style” breakfast for guests with French croissants, fruits, cheeses and egg tarts. AC Hotels are European-inspired hotels with several international locations.

January 10, 2018

Multifamily Texas

JPI Breaks Ground on 371-Unit Apartment Community in Metro Dallas

by John Nelson January 9, 2018

GRAPEVINE, TEXAS — JPI has begun construction on Jefferson Silverlake, a 371-unit apartment community located at State Highway 26 and Bass Pro Drive in Grapevine. Units will feature 10-foot ceilings, modern cabinetry and full-sized washers and dryers in all units. Community amenities will include a resort-style pool, Wi-Fi in common areas, concierge services and a fitness center with a yoga studio. Jefferson Silverlake will be situated near the future U.S. headquarters for Kubota Tractor and future TEX Rail Grapevine Main Street station.

January 9, 2018

Mixed-Use Office Texas

Trammell Crow, MetLife Sign Law Firm to 56,000 SF Lease at Park District in Dallas

by John Nelson January 9, 2018

DALLAS — Trammell Crow Co. and joint venture partner MetLife have signed international law firm Winston & Strawn LLP to a 56,000-square-foot lease at Park District in Uptown Dallas. Situated adjacent to Klyde Warren Park, Park District is a 916,000-square-foot mixed-use project that features a 20-story office tower and 34-story residential tower, both of which include ground-floor retail space. PwC is the anchor tenant of the office tower, dubbed PwC Tower at Park District. Upon completion the building will feature four levels of below-grade parking, an executive lounge, fitness facility, collaborative workspaces, on-site restaurants, outdoor amenity spaces and on-site banking and valet. HKS is the project architect and the development team is seeking LEED Gold-certification for the office tower. Dennis Barnes, Clay Gilbert and Shannon Brown with CBRE’s Dallas office represented Trammell Crow and MetLife in the lease transaction. Phil Puckett, Harlan Davis and Neal Puckett, also with CBRE’s Dallas office, and Nancy Pacher of CBRE’s Chicago office, represented Winston & Strawn, which will occupy floors eight and nine of the 500,000-square-foot tower in the second quarter.

January 9, 2018

Healthcare Mixed-Use Texas

Archway to Develop 111-Acre Mixed-Use Project in Metro Houston

by John Nelson January 9, 2018

HUMBLE, TEXAS — Archway Properties plans to develop Park Air 59, a 111-acre mixed-use project located along U.S. Highway 59 in Humble, roughly 20 miles northeast of Houston near George Bush International Airport. The project’s first build-to-suit is currently under construction on a 4.2-acre tract at the junction of U.S. Highway 59 and Will Clayton Parkway. Archway is developing a 65,000-square-foot, three-story medical office building for Vital Heart & Vein, a cardiology practice based in Houston. The clinic is set to open this summer. Austin Alvis of Houston-based NewQuest Properties and Preston Cunningham of Cunningham Ventures are marketing Park Air 59 and co-brokered the land sale to the cardiology group. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the cardiology group in its site acquisition. Houston-based Archway has assembled the acreage over the last several years for Park Air 59, which upon completion will include medical, retail, restaurants, industrial and additional service-based tenants.

January 9, 2018

Industrial Texas

Bob Moore Construction Delivers 350,000 SF Distribution Center in Metro Dallas

by John Nelson January 9, 2018

WILMER, TEXAS — Bob Moore Construction has completed Interpoint Distribution Center, a 350,000-square-foot industrial facility located at 3800 N. Interstate 45 in Wilmer, roughly 15 miles southwest of Dallas. The developer, Houston-based Skyhawk Partners, purchased the site along with J.A. Billip Co. Other members of the project team include leasing agent Colliers International and architect Alliance Architects. The facility is situated near the Union Pacific Intermodal and near facilities leased to FedEx, Procter & Gamble, Amazon and Shippers Warehouse.

January 9, 2018

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