development1

National Healthcare Development Completes 50-bed Skilled Nursing Facility in Las Cruces

by Nellie Day December 5, 2017

LAS CRUCES, N.M. — National Healthcare Development, an affiliate of National Healthcare Realty, has completed the development of Welbrook Las Cruces, a 50-bed skilled nursing facility in Las Cruces, approximately 40 miles north of El Paso, Texas. The 37,000-square-foot facility is located near Mountain View Medical Center. Welbrook Senior Living, a Utah-based provider, operates the property. This will be Welbrook’s first facility to open in New Mexico, while a second facility is also now under development in Farmington. National Healthcare Development is currently working on additional nursing facilities for Welbrook in Arizona and Colorado.

December 5, 2017

Multifamily Texas

Falcon Group to Develop 312-Unit Apartment Community in San Antonio

by Taylor Williams December 4, 2017

SAN ANTONIO — Houston-based multifamily developer Falcon Group will develop a 312-unit apartment community that will be situated within the master-planned community of Briggs Ranch in San Antonio. Designed by Meeks + Partners, the property will consist of 14 three-story buildings with one-, two- and three-bedroom units ranging in size from 736 to 1,411 square feet. Amenities will include a pool, pet park, fitness center, business center, chef kitchen with cooking classes, a media room with a theater and a resident lounge with workspaces. The groundbreaking is slated for the first quarter of 2018 with a targeted completion date of summer 2019.

December 4, 2017

Retail Texas

Rubicon Realty Breaks Ground on 15,000 SF Retail Center in Metro Houston

by Taylor Williams December 4, 2017

MISSOURI CITY, TEXAS — Rubicon Realty Group has broken ground on Shops at Pebble Creek, a 15,000-square-foot retail center that will be located at the corner of State Highway 6 and Lake Olympia Parkway in the southwestern Houston metro of Missouri City. The property will offer 80-foot building depths and 5.45 parking spaces per 1,000 square feet. Construction is expected to be complete by the second quarter of 2018. Base rents are currently slated to start at $30 to $32 per square foot per year.

December 4, 2017

Loans Massachusetts Multifamily Northeast

Colliers Secures Joint Venture Equity, Construction Financing for Apartment Project in Everett, Massachusetts

by Amy Works December 4, 2017

EVERETT, MASS. — Colliers International has arranged joint venture equity and construction financing for the development of The Pioneer, a transit-oriented apartment community situated on 2.7 acres at 1760 Revere Beach Parkway in Everett. Colliers worked on behalf of the developer, Post Road Residential, to arrange a joint-venture partnership with Boston-based CrossHarbor Capital Partners. Jeff Black and Kevin Phelan of Colliers also secured $57.4 million in construction financing through TD Bank and People’s United Bank. Construction on The Pioneer has already begun, with delivery of the first units slated for fall 2018. The six-story building will feature 286 market-rate units with 425 parking spaces and 2,500 square feet of retail space. On-site amenities will include a dual-use coffee shop and leasing office; bicycle parking and repair space; Maker Space workspaces; two-level fitness center with Peloton Cycle spin studio; golf simulator; resident lounge with a rotating draft beer program; courtyard with a heated pool; and rooftop lounge.

December 4, 2017

Maryland Multifamily Southeast

Pennrose Breaks Ground on Phase I of Multifamily Redevelopment in Metro D.C.

by Camren Skelton December 4, 2017

GLENARDEN, MD. — Pennrose Properties LLC has broken ground on Glenarden I, the first phase of a master-planned redevelopment of the former Glenarden Apartments in Glenarden, roughly 12 miles east of Washington, D.C. The redevelopment of the 27-acre site will be conducted in four phases. The project is a public-private partnership between Pennrose, the Redevelopment Authority of Prince George’s County, B&W Solutions Inc. and SHABACH! Ministries Inc. Designed by Marks Thomas Architects and Arel Architects and constructed by Harkins Builders, the first phase of Glenarden will include 114 affordable and market-rate apartment homes for families and seniors, a blend of townhouse-style buildings with two- and three-bedroom floor plans and a four-story senior apartment building with a community kitchen, outdoor patio, coffee bar, café, library and a fitness room. Glenarden I will also feature a clubhouse with an additional fitness center, locker rooms, a kitchenette and an outdoor patio and grill. Pennrose Management Co. will manage the community. The second phase of Glenarden will add 55 units of affordable seniors housing, affordable and market-rate apartments, two pools and additional open space. The remaining phases of the redevelopment will add more market-rate rental apartments and for-sale homes. The $34 million Phase I project …

December 4, 2017

Georgia Industrial Southeast

McCraney Property to Deliver 345,600 SF Industrial Building in Savannah

by Camren Skelton December 4, 2017

SAVANNAH, GA. — McCraney Property Co. has acquired 22 acres in Savannah to develop a 345,600-square-foot, Class A industrial property. Dubbed 95 Logistics @ Pooler Parkway, the property is located near the intersection of Interstates 95 and 16, providing access to the Port of Savannah and Savannah Airport. The proposed development is a front-loaded building with 32-foot clear heights, approximately 48 dock high doors and 100 tractor-trailer parking spaces. The building’s design will also allow the option of subdividing the space for tenants ranging in size from 100,000 to 345,600 square feet. Steve Croy of Croy Group LLC represented McCraney Property Co. in the land purchase.

December 4, 2017

Colorado Retail Western

Altar’d State Opens Boutique in Lone Tree, Colorado

by Nellie Day December 4, 2017

LONE TREE, COLO. — A new 6,088-square-foot Altar’d State store has opened in Lone Tree at the Park Meadows Mall. St. Louis-based Knoebel Construction completed construction on the chain’s 50th store in five years, working with the retailer across 26 states. The new Lone Tree location features Colorado-inspired furnishings, a rotating display window platform with graphics of Aspen tree trunks, and Aspen leaf design accents. The store is also one of the first to integrate checkout video monitors that display messages about the charitable causes Altar’d State supports. Since its start in 2009, Altar’d State has expanded from 13 employees to nearly 1,500. Today, Altar’d State operates nearly 90 boutiques in 30 states. Knoebel Construction, Inc. is a national general contractor specializing in retail center, restaurant, grocery, healthcare and retail store construction.

December 4, 2017

California Multifamily Western

JV to Develop 551-Unit Apartment Community Near New BART Station in San Jose

by Nellie Day December 1, 2017

SAN JOSE, CALIF. — A joint venture between Western National Group, Anchor Real Estate Capital and Fantasia Holding Group has started construction of a 551-unit apartment complex within the master-planned community of Market Park in San Jose. The mixed-use development is situated near major freeways like Highway 87, 101, I-680 and I-880. The new community has been dubbed The Platform. It will include 37,500 square feet of retail. The new development will be the closest apartment community to the new Berryessa BART transit station, scheduled to open in June 2018. The Platform will offer two resort-style pools, two fitness centers with indoor-outdoor convertible space, multiple high-end outdoor kitchen areas, a dog salon, two bike stations for maintenance and storage, and two clubhouses with indoor entertainment and gaming facilities. The community is scheduled to open in the third quarter of 2019.

December 1, 2017

Multifamily New Jersey Northeast

Walters Group Breaks Ground for Income-Restricted Apartment Community in Delanco, New Jersey

by Amy Works December 1, 2017

DELANCO, N.J. — Walters Group has broken ground on Cornerstone at Delanco, an income-restricted apartment community located at 200 Rhawn St. in Delanco. Situated on 5.37 acres, the development will consist of eight two-story buildings with eight units each. Totaling 64 units, the property will feature three-, two-, and one-bedroom layouts. Amenities include private entrances, upgraded interior finishes, a half-court basketball court, a tot-lot playground and a community clubhouse with fitness center. Apartments will be leased to residents with incomes at or below 60 percent of the area median income. Walters Group estimates it will take 12 to 15 months to complete the development.

December 1, 2017

Civic Delaware Northeast Retail

Philadelphia 76ers, Buccini/Pollin Group to Develop 140,000 SF Sports Complex in Wilmington, Delaware

by Amy Works November 30, 2017

WILMINGTON, DEL. — The Philadelphia 76ers and The Buccini/Pollin Group are developing 76ers Fieldhouse in Wilmington. Situated on 8.9 acres, the 140,000-square-foot multi-purpose sports complex and youth training center will be the new home for the 76ers NBA G League affiliate team, the Delaware 87ers. In addition to use by the affiliate team, the facility will be used to provide local youth with new sports programming and opportunities. The Buccini/Pollin Group will manage the development and construction of the facility, which is being designed by Rossetti Architects. The facility is situated on a site currently owned by Riverfront Development Corp.

November 30, 2017

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