HOUSTON — Buffalo Bayou Brewing Co. will open a three-story, 28,000-square-foot brewery and restaurant at 2101 Summer St. in Houston’s First Ward. Houston-based Method Architecture will be designing the property, which will offer a rooftop beer garden with views of downtown Houston and a full-service kitchen. Construction is currently slated to begin this winter, with a target completion date of late 2018. A general contractor for the project has not yet been selected.
TAMPA, FLA. — The Altman Cos., in partnership with Mattoni Group, has broken ground on Altís Grand Central, a 314-unit apartment community in Tampa. The eight-story tower will be located within walking distance of the University of Tampa and Oxford Exchange, a mixed-use development with original walls dating back to 1891. Today, the development is home to food and goods retailers and a shared work environment. Altís Grand Central will offer studio to three-bedroom units, ranging in size from 619 to 1,380 square feet. Community amenities will include a rooftop pool and sky lounge, Zen garden, dog park, dog spa, fitness area, bicycle repair and storage room and gaming area with a pinball machine, PlayStation units, a pool table and a bowling lounge. The community is expected to open in early 2019.
ACWORTH, GA. — Brickmont Assisted Living, in partnership with Sage Equities, has broken ground on Brickmont of Acworth, a 137-bed seniors housing community in Acworth, roughly 32 miles northwest of Atlanta. Patterson Real Estate Advisory Group arranged construction financing through Credit Union Business Services for the project. Upon completion, Brickmont of Acworth will include 85 assisted living and 35 memory care units, with an average size of 447 square feet. Units will include kitchenettes.
LODI, CALIF. — The Wolff Company has broken ground on Revel Lodi, a 142-unit independent living community in Lodi, located south of Sacramento and east of San Francisco. The project is located within the Reynolds Ranch master-planned community in California’s wine country. The property is scheduled for completion in mid-2018. Once completed, the two four-story buildings will offer 134 apartments and eight single-story cottages in a variety of studio, one- and two-bedroom floor plans. Revel Lodi will be the fourth senior living community Wolff has developed since 2016. The Scottsdale, Ariz.-based private equity firm intends to invest between $300 million and $400 million annually in the development of independent and assisted living communities, in addition to purchasing existing communities.
BOSTON — Related Beal has placed the final beam in the redevelopment of 40 Water Street, which formerly served as the Fidelity Investment headquarters. The redeveloped property, called Congress Square, will create a 24-hour mixed-use environment connecting Government Center, Faneuil Hall, Post Office Square and Downtown Crossing. The building features a glass curtainwall addition on top of the more than 320,000-square-foot office building. The redevelopment also includes preserving the landmarked property’s efficient and versatile floor plates, active rooftops and retail and restaurant space on the lower and ground floor. The redevelopment plan for the building includes office, residential, hospitality and more than 43,000 square feet of retail space, as well as the transformation of Quaker Lane into a pedestrian-oriented food and beverage destination with boutiques and cafés. Related Beal Construction and Consigli Construction Co. are general contractors for the project and Arrowstreet is serving as architect. Congress Square is slated to open in 2018.
ROUND ROCK, TEXAS — California-based Mark IV Capital will develop The District, a $200 million mixed-use project that will be located at the intersection of Interstate 35 and State Highway 45 in the Austin metro of Round Rock. The property will be situated on 65 acres and will feature more than 1 million square feet of commercial and residential space. Construction is expected to begin within the next 12 months.
INDIANAPOLIS — A joint venture between PCCP and Strategic Capital Partners LLC (SCP) is developing two industrial buildings at Metro Air Business Park in Indianapolis. Buildings Two and Six will total 500,000 square feet. The $27 million development is slated for completion in the second quarter of 2018. SCP began developing the business park in 2006. The property will total more than 1.2 million square feet upon completion. Current tenants include DJ Ortho, Rolls Royce, Fiserv Solutions, Expeditors International, TRICOR Braun and Hiab USA. SCP acquired the property, located less than one mile from the Indianapolis International Airport, from the Indianapolis Airport Authority.
CHICAGO — Newmark Knight Frank (NKF) has been tasked with the pre-leasing of 1200 W. Fulton, a new 1.2 million-square-foot mixed-use development in Chicago’s Fulton Market. LAMB Properties LLC and IBT Group are developing the project. Plans call for approximately 900,000 square feet of office space, a boutique hotel, a ground floor plaza with a mix of retail and restaurants, as well as 700 underground parking spaces. NKF brokered the sale of the property site in March 2016. The transformation of Fulton Market, formerly known as the Meatpacking District, is in part due to Google, McDonald’s and WPP Group relocating to the area. William Rolander and Jon Cordell of NKF will lead the brokerage team assigned to lease the office space for the new development.
FREDERICK, MD. — HHHunt has broken ground on Spring Arbor of Frederick, a 109-bed assisted living and memory care community in Frederick, approximately 50 miles west of Baltimore. Development costs for the project are estimated at $32.3 million. When completed, the 110,000-square-foot community will sit on a 10-acre site along the Monocacy River and near the Monocacy National Battlefield. The community will be HHHunt’s third in Maryland and is scheduled for completion in early 2019. SunTrust Bank provided a $50 million credit facility for the project. Blacksburg, Va.-based HHHunt is a real estate developer and owner with a portfolio of 24 Spring Arbor-branded seniors housing communities in North Carolina, Virginia and Maryland.
NEWPORT BEACH, CALIF. — C.W. Driver has broken ground on Newport Harbor Medical Plaza, a 26,500-square-foot medical facility in Newport Beach. The Class A facility will be located at 330 Old Newport Blvd. It is situated near Hoag Memorial Presbyterian Hospital Newport Beach. The facility is scheduled for completion in fall 2018. Office spaces will range from 2,000 square feet to 16,500 square feet. The property will offer second-floor patio deck amenities, two levels of below-grade parking and gurney-accessible elevators. Shaoulian Properties is developing Newport Harbor Medical Plaza, which Bundy-Finkel Architects is designing.
