development1

Berry, Big Cypress Capital Open Apartment Property in Charleston

by John Nelson April 21, 2017

CHARLESTON, S.C. — The Berry Cos. and Big Cypress Capital have opened Cainhoy Pointe, a gated 110-unit apartment community off Jack Primus Road on Charleston’s Daniel Island. Apartment units range in size from 817 to 1,057 square feet and feature wood-style plank flooring, designer cabinetry, dual marble vanities, walk-in closets and granite countertops. Community amenities include a resident lounge, game room, cyber café, demonstration kitchen, fitness center, yoga studio, business center, community pool, fire pit, walking paths and a dog park. The property is located next to the original phase of Cainhoy Pointe, a 72-unit property originally developed in 2008 as condominiums. Berry and Big Cypress have converted 27 of the units to rental apartments. Cainhoy Pointe is situated near Cainhoy Plantation, a 9,100-acre master-planned development. The design team for Cainhoy Pointe includes general contractor Liberty Solutions, landscape architect John Tarkany Associates of Charleston, architect BB+M Architecture, property manager RAM Partners and leasing agent Sales Inc.

April 21, 2017

Industrial Texas

ExxonMobil, SABIC to Build $10B, 1,300-Acre Plastics Plant in San Patricio County

by Taylor Williams April 20, 2017

CORPUS CHRISTI, TEXAS — Gulf Coast Growth Ventures, a joint venture between ExxonMobil Corp. and Saudi Arabia Basic Industries Corp. has proposed plans to build a $10 billion, plastics manufacturing complex along the Gulf Coast in south Texas. The 1,300-acre plant, which would be the world’s largest ethylene production center and could come on line as early as 2020, will be located in San Patricio County. Construction of the plant is expected to create 6,000 jobs. Upon completion, the plant is projected to create an additional 3,500 jobs.

April 20, 2017

Texas

Developers to Deliver Three $30.5M Elementary Schools in Metro Houston

by Taylor Williams April 20, 2017

HOUSTON — Three developers will deliver new elementary schools for the 2017-2018 school year to Fort Bend County in the greater Houston area. Cadence McShane is general contractor for James Patterson Elementary School at 18702 Beechnut St. in Houston; Drymalla Construction Co. Inc. is building James C. Neill Elementary School at 3820 Harvest Corner Drive in Richmond; and Satterfield & Pontikes is constructing Donald Leonetti Elementary School at 1757 Waters Lake Blvd. in Missouri City. The Fort Bend Independent School District will partially finance the $30.5 million construction cost of each school with $52 million in tax-exempt bond issued by municipal finance firm Siebert Cisneros Shank & Co. LLC.

April 20, 2017

Hospitality Texas

Aimbridge Releases Plans for Eight-Acre Craig Ranch Resort and Conference Center in McKinney

by Taylor Williams April 20, 2017

MCKINNEY, TEXAS — Aimbridge Hospitality, a Texas-based hotel investment and management firm, has released plans for the Craig Ranch Resort and Conference Center, a hospitality development that will be situated on eight acres at the corner of Collin McKinney Parkway and Weiskopf Avenue in McKinney. The property, which will feature 285 rooms and 33,000 square feet of meeting space, will be part of the 2,200-acre, master-planned Craig Ranch development.

April 20, 2017

Industrial South Carolina Southeast

CRG, Gramercy Property Trust Break Ground on 432,000 SF Build-to-Suit Warehouse in Greenville

by John Nelson April 20, 2017

GREENVILLE, S.C. — CRG and Gramery Property Trust have broken ground on a 432,000-square-foot build-to-suit warehouse in Greenville for Bausch + Lomb, a manufacturer of eye care products including contact lenses and eye implants. Bausch + Lamb currently operates a manufacturing facility four miles from the new development, which is expandable up to an additional 432,000 square feet. The facility will include 38-foot clear heights, an ESFR sprinkler system, 42 loading docks, one drive-in door, 101 trailer spaces and 94 automobile parking spaces. The design team includes design-build firm Clayco Inc. and architect Forum Studio. Bausch + Lomb is expected to take occupancy beginning in October.

April 20, 2017

Illinois Midwest Multifamily

Luxury Apartment Tower Opens on Chicago’s North Side

by Kristin Harlow April 20, 2017

CHICAGO — Ascend Real Estate Group and Intercontinental Real Estate Corp. have opened Niche 905, a 202-unit luxury apartment tower in Chicago’s Near North Side. The 18-story property is located at 905 N. Orleans St. A grand opening celebration took place on April 13. The tower features convertible, one-, two- and three-bedroom apartments ranging in size from 576 to 1,518 square feet. Rents start at $2,000. CORT Furniture furnished the convertible studio model, while Stanton Interior Concepts designed the one- and two-bedroom models. Amenities include 24-hour concierge service, pool, skydeck, grilling stations, fitness center, yoga studio and entertainment suite. Niche 905 also features 1,750 square feet of ground-floor retail space and a lobby with workstations.

April 20, 2017

Mixed-Use Southeast Tennessee

OliverMcMillan, Spectrum | Emery Break Ground on $430M Fifth + Broadway in Downtown Nashville

by John Nelson April 19, 2017

NASHVILLE, TENN. — San Diego-based OliverMcMillan and Nashville-based Spectrum Emery have broken ground on Fifth + Broadway, a massive mixed-use development in downtown Nashville. The development cost wasn’t disclosed, but The Tennessean reports Fifth + Broadway will cost $430 million to develop. Situated across from Bridgestone Arena on the 6.2-acre site of the former Nashville Convention Center, the project will feature 235,000 square feet of retail and entertainment space, including the 56,000-square-foot National Museum of African American Music and a restaurant concept by Nashville restaurateur Tom Morales; a 385,000-square-foot office tower at 501 Commerce; more than 350 apartments; and more than 2,000 parking spaces. Rob Lowe and Stewart Lyman of Cushman & Wakefield are the leasing agents for the office tower. General contractor Skanska broke ground on Fifth + Broadway yesterday and plans to complete construction by late 2019.

April 19, 2017

Multifamily Southeast Virginia

Jefferson Apartment Group to Develop High-Rise Multifamily Tower in Metro D.C.

by John Nelson April 19, 2017

ARLINGTON, VA. — Jefferson Apartment Group has acquired a 0.6-acre site at 40000 Fairfax Drive in Arlington’s Rosslyn-Ballston area for the development of a new high-rise apartment tower. The 22-story property will be situated at the corner of Fairfax Drive and North Quincy Street and feature 264 below-grade parking spaces and 8,260 square feet of ground-level retail space. The site is approved for up to 330 residential units. Planned amenities at the yet-to-be-named property include a rooftop swimming pool, fitness center, clubroom, rooftop outdoor lounge and 24/7 concierge services. Jefferson Apartment Group plans to break ground in the fourth quarter and pursue LEED Gold certification. The McLean, Va.-based developer is building the high-rise in a joint venture with Mitsui Fudosan America Inc. (MFA), a U.S. subsidiary of a publicly traded Japanese real estate company. MFA is providing equity to the project.

April 19, 2017

Florida Multifamily Southeast

Pollack Shores to Break Ground on Apartment Community in Central Florida

by John Nelson April 19, 2017

MAITLAND, FLA. — Pollack Shores plans to build a 237-unit lakefront apartment community in Maitland, a suburb of Orlando. The Atlanta-based developer will demolish the existing Maitland Shores, a vacant 1960s-era complex situated on Lake Avenue fronting Lake Gem. The new apartment community will feature a resort-style pool with an outdoor kitchen and a bar area, as well as a lighted biking and pedestrian trail that will connect to the City of Maitland’s trail east of the property. The development will also feature 20 private garages and a newly rebuilt fishing dock and gathering areas with fire pits. The project team includes architect Poole & Poole Architecture and general contractor Oxford Construction. Pollack Shores’ subsidiary, Matrix Residential, will manage the apartment community upon completion, which is expected to be 15 months after construction begins.

April 19, 2017

Oregon Retail Western

Cracker Barrel Opens First Store in Oregon

by Nellie Day April 18, 2017

TUALATIN, ORE. — Cracker Barrel Old Country Store has opened a store in the Portland suburb of Tualatin, the first Cracker Barrel location in Oregon. William Morrison has been named general manager of the new location and has worked at Cracker Barrel for nearly 20 years. Established in 1969 in Lebanon, Tenn., Cracker Barrel Old Country Store Inc. and its affiliates operate 643 Cracker Barrel Old Country Store company-owned locations in 44 states and own the fast-casual restaurants Holler & Dash.

April 18, 2017

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