development1

Woda Group Breaks Ground on Two Affordable Housing Projects in North Carolina

by Camren Skelton November 20, 2017

ROCKY MOUNT AND ZEBULON, N.C. — The Woda Group Inc. has broken ground on two multifamily communities in North Carolina: Ravenwood Crossing in Rocky Mount and Shepard Greene in Zebulon. The $9 million Rocky Mount development will include 80 affordable townhomes for seniors, families and single renters. Financing was provided through low income housing tax credits (LIHTC), loans allocated by the North Carolina Housing Finance Agency, the City of Rocky Mount, Community Affordable Housing Equity Corp. (CAHEC) and the Bank of Tennessee. Shepard Greene, a $6.4 million community in Zebulon, will include 50 affordable homes for seniors age 55 and over. Bank of America is providing equity for the project and a USDA Rural Development 538 loan will be implemented by Bellwether Enterprise. The project is also utilizing LIHTC and other state loans allocated by the North Carolina Housing Finance Agency.

November 20, 2017

California Retail Western

Bass Pro Shops to Anchor 800,000 SF Retail Development in Bakersfield

by Nellie Day November 17, 2017

BAKERSFIELD, CALIF. — Bass Pro Shops has unveiled plans to open a 100,000-square-foot location at Bakersfield Gateway, a planned retail development in Bakersfield. Upon completion, the project, developed by Woodmont Co., will feature 800,000-square-feet of retail and will include a central gathering area for lifestyle events and programming. The new Bass Pro Shops will be the retailer’s fifth location in California. A construction timeline was not released.

November 17, 2017

Hawaii Retail Western

Sears Opens Concept Store in Honolulu

by Nellie Day November 17, 2017

HONOLULU — Sears has opened a new store dedicated to appliances and mattresses in Honolulu. The unique retail concept focuses on two of Sears’s strongest categories, appliances and mattresses. The new store builds on the success of the first Sears Appliances & Mattresses store located in Pharr, Texas, which has been open since June 2017, as well as the Sears Appliances store, which opened in Ft. Collins, Colo., in 2016. Located at Ala Moana Center, the 16,200-square-foot Sears Appliances & Mattresses store showcases major appliance brands in a bright, spacious setting with interactive displays.

November 17, 2017

Office Texas

Granite Properties Opens 215,000 SF Redeveloped Office Property in Dallas

by Taylor Williams November 17, 2017

DALLAS — Granite Properties has opened Factory Six03, a 215,000-square-foot office property located at 603 Munger St. in the West End area of Dallas. Over the years, the 114-year-old building has served as a warehouse, marketplace and movie theater, but was vacant between 2006 and 2015, when Granite acquired it. The redevelopment delivered an additional two floors with views of the Dallas skyline, a tenant lounge, conference center, ground-floor restaurant space, an outdoor plaza and underground parking structure. The first tenant, C1 Innovation Lab by Blue Cross and Blue Shield of Texas, moved into Factory Six03 over the summer.

November 17, 2017

Massachusetts Multifamily Northeast

Twinning Properties Breaks Ground on 308-Unit Apartment Property in Cambridge

by Amy Works November 17, 2017

CAMBRIDGE, MASS. — Twinning Properties has broken ground on Mass+Main, a multifamily property located in Cambridge’s Central Square. The 308,000-square-foot property will feature 308 mixed-income apartments and 17,000 square feet of retail space overlooking Lafayette Square. The project will offer 248 market-rate and 60 affordable apartments in three buildings: a tower, a six-story building with studios and roommate units, and a four-story building designed for families. Designed by CBT Architects to LEED Gold standards, Mass+Main will be a sustainable green community with green roof terraces, energy tracking, wind energy and smoke-free apartments. The $190 million development is a joint venture between Twinning Properties and its capital partner Mass PRIM. Construction of the three buildings will be completed in phases from fall 2018 through mid-2020.

November 17, 2017

Midwest Minnesota Mixed-Use

RD Management Unveils Plans for Mixed-Use Project Surrounding Allianz Field in St. Paul, Minnesota

by Kristin Harlow November 17, 2017

ST. PAUL, MINN. — RD Management LLC has unveiled plans for the Midway/Allianz Field mixed-use project in St. Paul. With 20 acres zoned for multi-use, the company intends to add retail, office, residential, entertainment and hospitality options to its property following the completion of the adjacent Allianz Field, home of the Minnesota United. Construction of the $200 million soccer stadium is slated for completion in spring 2019. The future expansion of the Midway/Allianz Field mixed-use project will include the construction of new buildings and is part of a master plan to be built along the western edge of the property on Snelling Avenue. The current L-shaped space on the eastern side of the property with 20 active businesses will remain intact following the demolition of Rainbow grocery store, Walgreens, Home Choice and Big Top Liquor to make way for the new stadium. Located at 1460 University Avenue West and Snelling Avenue North, the 293,732-square-foot Midway is halfway between Minneapolis and St. Paul.

November 17, 2017

Georgia Multifamily Seniors Housing Southeast

Speak Life Management Breaks Ground on $73.7M Active Adult Community in Metro Atlanta

by Camren Skelton November 17, 2017

DECATUR, GA. — Speak Life Management has broken ground on The Holbrook Decatur, a $73.7 million active adult community in Decatur, roughly 10 miles northwest of downtown Atlanta. Slated to open in spring 2019 at 1880 Clairmont Road, the community is situated less than one mile from Emory University. Designed for the 50-plus, active lifestyle market, The Holbrook will feature 71 apartments and offer health- and wellness-focused amenities, including a saltwater pool, positive ion emission and aromatherapy, spa services, concierge physician and wellness services, yoga, Pilates, spin classes and art and ceramic classes. In addition, The Holbrook will offer wine bars, local taps, coffee bistros, multiple dining venues and grilling stations. Dogwood Forest, the assisted living brand under the Speak Life Management umbrella, will also be located on the property and will include 97 assisted living units and 32 memory care units. The Holbrook Decatur’s project team includes Solomon Development Services, Needle Development, Choate Construction Co., CDH Partners and Harrison Design.

November 17, 2017

Multifamily Nevada Seniors Housing Western

Wolff Co. Starts Construction of 146-Unit Independent Living Community in Reno

by Nellie Day November 16, 2017

RENO, NEV. — The Wolff Company has started construction on Revel Rancharrah, a 146-unit independent living community within Reno’s Rancharrah master-planned community. The development is scheduled for completion in 2018. The four-story property will be Wolff’s fifth seniors housing community. Wolff plans to invest $300 million to $400 million annually in new independent living development, in addition to seeking acquisition opportunities.

November 16, 2017

California Multifamily Seniors Housing Western

Welbrook Senior Living Completes 50-Unit Memory Care Community in Santa Monica

by Nellie Day November 16, 2017

SANTA MONICA, Calif. — Welbrook Senior Living has completed construction of Welbrook Santa Monica, a 50-unit memory care facility in Santa Monica. The units are all single-occupancy studios. Welbrook partnered with Urban Green Investments, a San Francisco-based real estate investment and development company, on the project.

November 16, 2017

Northeast Retail Vermont

KeyPoint Partners Brings Target to Vermont in South Burlington

by Amy Works November 16, 2017

SOUTH BURLINGTON, VT. — KeyPoint Partners has negotiated a lease with Target Corp. to open a location at University Mall (UMall) in South Burlington. The new Target store will occupy the 60,000-square-foot anchor space, which is currently occupied by The Bon-Ton. Construction for the new Target is slated to begin in February with the opening planned for October. Located on Dorset Street, UMall features more than 610,000 square feet of retail space. Current retailers and restaurants include Kohl’s, JCPenney, Sears, Charlotte Russe, American Eagle, Zumiez, Christopher & Banks and Applebee’s. Don Mace of KeyPoint Partners arranged the lease on behalf of the landlord.

November 16, 2017

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