development1

Landsea Closes $102.3M Construction Loan for Condo Project in Weehawken, New Jersey

by Amy Works February 20, 2017

WEEHAWKEN, N.J. — Landsea has closed on a $102.3 million construction loan for Avora, a condominium project in Weehawken. With occupancy scheduled for first quarter 2018, the 11-story building will feature 184 condominium units in one-, two- and three-bedroom layouts, 6,000 square feet of ground-floor retail space, a private screening theater, a business center, a fitness center, an outdoor pool, sun decks, grilling areas and an amphitheater. Thomas Didio, Michael Gigliotti and Dan Cashdan of HFF secured the financing through Bank of the Ozarks for the developer.

February 20, 2017

Michigan Midwest

Detroit Lions Unveil Plans for $100M in Renovations to Ford Field

by Kristin Harlow February 20, 2017

DETROIT — The Detroit Lions have unveiled plans for the Ford Family to invest approximately $100 million into Ford Field for new video boards and several other renovations to be completed in time for the 2017 season. Upgrades will be made to the sound system, The Corner Lounge, stadium suites and premium club areas. In each end zone, the Daktronics main video displays will be more than twice the size of the current displays and measure 39.5 feet high by 152 feet wide. Four additional displays, measuring 13 feet high by 59 feet wide, can be used individually or coordinated with the main displays for one continuous 270-foot presentation to show live video, instant replays, statistics, graphics, animations and sponsorship messages. In the coming months, Meyer Sound will install the full LEO Family Linear Sound Reinforcement System to replace the original stadium sound system in its entirety. It will feature 182 separate loudspeakers. In addition, the Lions consulted with Rossetti, the original architectural firm for Ford Field, to identify opportunities to renovate areas of the stadium to enhance and modernize the guest experience as well as better utilize the existing space. A total of 210,000 square feet of suites, lounge …

February 20, 2017

Multifamily New York Northeast Seniors Housing

Benchmark Senior Living to Develop $25M Assisted Living Community in Smithtown, New York

by Amy Works February 17, 2017

SMITHTOWN, N.Y. — Benchmark Senior Living is developing Whisper Woods, an assisted living community located at Route 25A and River Heights Drive in Smithtown. Slated to open in June 2018, the $25 million property will feature 101 units. Project members include EW Howell Construction Group and Moseley Architects. The property will be Benchmark’s first assisted living facility in New York.

February 17, 2017

Retail Texas

Park Place Dealerships to Develop 70,000 SF Porsche Dealership in Grapevine

by Amy Works February 17, 2017

GRAPEVINE, TEXAS — Park Place Dealerships is developing a Porsche dealership off Texan Trail and State Highway 114 in Grapevine. Construction on the two-story, 70,000-square-foot dealership is expected to start within the next 30 days, with completed slated for spring 2018. The project will create more than 180 temporary construction jobs and approximately 50 permanent jobs. Park Place Porsche will have the capacity to feature 21 display vehicles on the showroom floors and feature a shop with 28 service and make-ready bays. Hill & Wilkinson is serving as general contractor, and Good, Fulton & Farrell is providing architectural services for the project.

February 17, 2017

Hospitality Midwest Wisconsin

DoubleTree Reopens After $3.5M Renovation in Pleasant Prairie, Wisconsin

by Kristin Harlow February 17, 2017

PLEASANT PRAIRIE, WIS. — DoubleTree by Hilton Pleasant Prairie Kenosha has reopened after undergoing a $3.5 million renovation. The hotel is located at 11800 108th St. in Pleasant Prairie. The conversion and renovation of the 120-room hotel includes upgrades to the guest rooms, meeting spaces and public spaces, including the lobby, business center, fitness center and pool area. The hotel also includes an on-site restaurant and bar, The Chancery Bar & Grill. Business meetings and events accommodating up to 500 attendees can be held in the hotel’s 5,500 square feet of meeting and banquet facility space. The property is owned by Varin Realty LLC and managed by First Hospitality Group Inc.

February 17, 2017

Georgia Multifamily Southeast

South City Partners, McShane Break Ground on Apartment Community in Avondale Estates Near Atlanta

by John Nelson February 16, 2017

DECATUR, GA. — South City Partners and general contractor McShane Construction Co. have broken ground on Sam’s Crossing, a 197-unit apartment community located at 2700 E. College Ave. in Decatur’s Avondale Estates district. The wraparound project will be situated within walking distance of MARTA’s Avondale Station and include a five-level, 268-space parking garage. South City Partners recently purchased the 3.2-acre lot from longtime property owner Joe Gargiulo of Candler Investment Group. Gargiulo owns other tracts in the Avondale Estates area for future development. Designed by The Preston Partnership, Sam’s Crossing will feature a clubroom, fitness center, on-site management and leasing office, central courtyard, an acre of green space and a resort-style swimming pool, as well as 8,000 square feet of ground-level retail space. McShane, which is also handling the landscaping and surface parking for the retail portion, expects to deliver Sam’s Crossing in the third quarter of 2018.

February 16, 2017

Maryland Multifamily Southeast

Enterprise Homes Opens $22.3M Apartment Community in Downtown Baltimore

by John Nelson February 16, 2017

BALTIMORE — Enterprise Homes has opened Mulberry at Park Apartments, a $22.3 million multifamily community located in downtown Baltimore’s Bromo Tower Arts & Entertainment District. Managed by Habitat America LLC, the property features 34 one-bedroom units, 27 two-bedroom units and seven three-bedroom units with average rents at roughly $750 per month. The design team for the LEED Silver-certified community includes architect Marks, Thomas Architects and general contractor Harkins Builders Inc. Sustainable features of Mulberry at Park include efficient plumbing fixtures, advanced insulation and air sealing, green roofing, low VOC finishes and Energy Star windows, HVAC systems, lighting and appliances. Community amenities include a cyber café, clubroom, study room, fitness center and an outdoor terrace area. Bank of America provided $15.8 million in construction financing, tax credit equity and permanent financing for the project. Additional financing included $1.5 million from the Maryland Department of Housing and Community Development, $870,000 from Baltimore City and $500,000 from the Federal Home Loan Bank of Atlanta.

February 16, 2017

Georgia Retail Southeast

L Star Communities Breaks Ground on New Publix Near Savannah

by John Nelson February 16, 2017

POOLER, GA. — L Star Communities, master developer of the 2,588-acre Savannah Quarters development in Pooler, has broken ground on a new Publix store. The 46,000-square-foot supermarket will be situated on a 9.3-acre site in the southwest quadrant of Savannah Quarters at the corner of Blue Moon Crossing and Pooler Parkway, about 10 miles outside of downtown Savannah. The Publix will anchor a shopping center that features additional inline shop space and an outparcel bank, according to the site plan. Publix expects to open the new store by the end of November. The Lakeland, Fla.-based grocer has 1,138 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina and had more than $32 billion in sales in 2015.

February 16, 2017

Michigan Midwest Retail

PREIT to Replace Sears With Von Maur at Woodland Mall in Grand Rapids, Michigan

by Kristin Harlow February 16, 2017

GRAND RAPIDS, MICH. — PREIT has unveiled plans to replace the Sears set to close in Woodland Mall with a 90,000-square-foot Von Maur store. This will be the first location for Von Maur in the Grand Rapids area. The portion of the mall to be redeveloped, consisting of Von Maur and additional retail and restaurant space, will open in 2019. Sears currently occupies 313,000 square feet and will close in March. Other tenants at the mall include Apple, Lush, North Face and Pottery Barn. Woodland Mall’s proximity to the high-income communities of Ada, Cascade and East Grand Rapids drives strong retailer and shopper demand.

February 16, 2017

Hospitality Kansas Midwest

Midas Hospitality to Build, Manage Home2 Suites in Overland Park, Kansas

by Kristin Harlow February 16, 2017

OVERLAND PARK, KAN. — Midas Hospitality and sister company MC Hotel Construction are building a new Home2 Suites by Hilton in Overland Park. The 123-room hotel will be located at 7121 W. 135th St., which is the former site of a Smokehouse Bar-B-Que restaurant. The 65,000-square-foot hotel will offer suites with fully equipped kitchens, a fitness center, indoor pool and outdoor living area. Construction will begin in June and be completed by May 2018. Midas Hospitality will manage the hotel. The builder is MC Hotel Construction, and the architecture firm is Gray Design. All three companies are based in St. Louis.

February 16, 2017

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