development1

University of Pennsylvania Completes $80M Renovation of 261-Unit Student Housing Property

by Jaime Lackey August 23, 2017

PHILADELPHIA — The University of Pennsylvania has completed the $80 million renovation of Hill College House, a 261-unit on-campus residence hall. The five-story, 195,000-square-foot property offers student lounges, seminar rooms and a 300-seat dining area. Mills + Schnoering Architects of Princeton, N.J., led the design and construction team for the project. The property was originally designed by Eero Saarinen and built in 1960 as a women’s dormitory. Renovations at the property included the restoration of the building’s ‘drawbridge’ entrance and landscaped ‘moat’; the removal, restoration and refitting of over 400 windows; an expansion of the dining facilities; the addition of new furniture and finishes; and the conversion of all bathrooms to individual restrooms and shower rooms.

August 23, 2017

Industrial Midwest Minnesota

Kraus-Anderson Breaks Ground on 50,000 SF Addition to Banner Engineering Headquarters in Minneapolis

by Kristin Harlow August 23, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co. has broken ground on a research and development building at Banner Engineering’s headquarters in Minneapolis. The new building will enable the industrial automation technology provider to create more than 225 jobs and accelerate new product development for smart sensor technologies, according to Banner Engineering. The property is located at 9714 10th Ave. North. Designed by HCM Architects and slated for completion in summer 2018, the 50,000-square-foot addition will include labs, training spaces and over 44,000 square feet of new office space.

August 23, 2017

California Hospitality Western

R.D. Olson Construction Begins Building Hotel Trio in Healdsburg

by Nellie Day August 22, 2017

HEALDSBURG, CALIF. — R.D. Olson Construction has started construction of the 122-room Hotel Trio in the Sonoma wine country submarket of Healdsburg. The hotel will be located at 110 Dry Creek Road. The property includes 13 one-bedrooms and 109 studios. It is within walking distance of the downtown area and a host of local wineries. Hotel Trio will also offer on-site bicycle rentals to provide access to the hundreds of wineries within a 30-mile radius. Amenities will include a bar, meeting room, outdoor pool, BBQ area, lounge, fully equipped fitness center and multiple outdoor patios with fireplaces. The hotel will connect the Dry Creek, Russian River and Alexander wine valleys, which is why it is named “Trio.” Additional partners on the project include Axis/GFA Architecture + Design, ZFA Structural Engineers, CSW/Stuber-Stroeh Engineering Group, Tuan and Robinson Engineering and CU Investors.

August 22, 2017

hudson-research-center-taconic-silverstein

New York Northeast Office

Taconic and Silverstein to Develop Life Science Research Hub in Manhattan

by Jaime Lackey August 22, 2017

NEW YORK CITY — Taconic Investment Partners and Silverstein Properties plan to develop the Hudson Research Center at 619 West 54th Street. Development plans include the creation of more than 150,000 square feet of life science wet lab research space. The 330,000-square-foot property at 619 West 54th Street is the home of the New York Stem Cell Foundation’s recently developed 40,000-square-foot research institute and headquarters. The 10-story building features the infrastructure necessary to support life science and medical tenants including 33,000-square-foot floorplates, robust electrical capacity, emergency generators, high floor loads, and high ceilings. Taconic and Silverstein plan to invest up to $20 million to further enhance base building infrastructure in order to deliver lab-ready space to research tenants. Transwestern Consulting Group (TCG) serves as the leasing agent for the building.

August 22, 2017

Multifamily Student Housing Texas

Servitas, Texas A&M Complete Nation’s Largest Student Housing Property Near Texas A&M

by Taylor Williams August 22, 2017

COLLEGE STATION, TEXAS — Servitas and Texas A&M University have completed Park West, a 50-acre, 3,406-bed student housing property located at 503 George Bush Drive W in College Station. Construction on the 2.2 million-square-foot property, which is the largest student housing development in the country, began in August 2015 and was completed a week ahead of schedule. Amenities include a coffee shop, volleyball court, jogging trail, game rooms and a convenience store. Servitas will manage the property. Weitz served as general contractor on the project.

August 22, 2017

Multifamily Restaurant Retail Texas

EPC to Build 292-Unit Apartment Community in Denton

by Taylor Williams August 22, 2017

DENTON, TEXAS — Kansas City-based EPC Real Estate Group will build The Village at Rayzor Ranch, a 292-unit apartment community situated on an 11–acre parcel at Rayzor Ranch Town Center in Denton. The property will feature a mix of one- and two-bedroom units and amenities such as a resort-style pool, outdoor grilling areas, a fitness center and a dog park. EPC expects to break ground on the property in early 2018. Construction of a 7,500-square-foot Cheddar’s Scratch Kitchen and a Zoe’s Kitchen is also scheduled to begin later this year at Rayzor Ranch, with mid-2018 the target opening date.

August 22, 2017

Indiana Midwest Multifamily

Flaherty & Collins Properties Breaks Ground on $40M Apartment Property in Brownsburg, Indiana

by Kristin Harlow August 22, 2017

BROWNSBURG, IND. — Flaherty & Collins Properties has broken ground on The Arbuckle, a $40 million luxury apartment property in Brownsburg, about 17 miles west of Indianapolis. The property, located at 300 N. Green St., will consist of 208 luxury market-rate apartment units. Floor plans will comprise studio, one- and two-bedroom units. Among the nearly 7,000 square feet of amenities will be a courtyard, saltwater pool, coffee lounge, conference room, pet wash, study lounge and fitness center. Flaherty & Collins Construction is the general contractor. The project team also consists of CSO Architects, ecological engineering and design firm Williams Creek, and consulting engineering firm Lynch Harrison & Brumleve Inc. Busey Bank provided construction financing. The 391,502-square-foot project is slated for completion in spring 2019.

August 22, 2017

California Industrial Western

Trammell Crow, Clarion Partners to Develop 132-Acre Industrial Park in Santa Clarita

by Nellie Day August 21, 2017

SANTA CLARITA, CALIF. — Trammell Crow Co. and Clarion Partners have purchased 54 additional acres of land to develop the Center at Needham Ranch, a 132-acre business park in the Los Angeles submarket of Santa Clarita. The Class A park will be situated one mile from the intersection of Interstate 5 and Highway 14, about 30 miles from downtown Los Angeles and 15 miles from Burbank Airport. Phase I will include an 869,760-square-foot park with 30- to 36-foot clear heights, ESFR fire sprinklers, abundant dock-high loading, and large truck courts and yard areas. Construction of Phase I is scheduled to begin this month, with completion scheduled for the third quarter of 2018.

August 21, 2017

California Multifamily Student Housing Western

AMCAL Opens 660-Bed Community Near California State University, Stanislaus

by Nellie Day August 21, 2017

TURLOCK, CALIF. — AMCAL Equities LLC has opened The Vista, a 660-bed student housing community located near California State University, Stanislaus in Turlock. The property offers one-, two-, three- and four-bedroom units. Community amenities include a clubhouse with outdoor volleyball and basketball courts; a resort-style swimming pool; outdoor television lounge; theater; cyber café with free coffee; and 24-hour fitness center. Asset Campus Housing is managing the property. Humphreys & Partners Architects LP designed the community, and AMCAL General Contractors Inc. managed construction. Coleraine Capital Group, AMCAL’s joint venture partner, sourced the land and assisted with the entitlement process.

August 21, 2017

Colorado Multifamily Seniors Housing Western

Northstar Commercial Partners Completes 74-Unit Seniors Housing Community in Denver

by Nellie Day August 21, 2017

DENVER — Northstar Commercial Partners has completed Balfour at Stapleton, a 74-unit assisted living and memory care community in Denver’s Stapleton neighborhood. A grand opening will be held in September for the 63,000-square-foot community. Northstar partnered with Balfour Senior Care, a Colorado-based operator, for the project. Northstar and Balfour are currently developing another community, a $51 million, 151-unit project in Ann Arbor, Mich. Construction is expected to begin this year. Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver.

August 21, 2017

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