development1

Lincoln Property, Alcion Ventures Move Forward with 870,000 SF Office Campus in Tustin

by Nellie Day November 17, 2016

TUSTIN, CALIF. — Lincoln Property Co. and Alcion Ventures have gained approval from the City of Tustin to move forward on Flight, an 870,000-square-foot creative office campus within the 1,600-acre master-planned community of Tustin Legacy. Flight will contain a mix of four-story buildings with outdoor platform decking and roll-up doors. The Rios Clementi Hale Studios-designed buildings will feature perforated metal building skins that shade the indoor/outdoor office space and large glass curtain walls on the ends to allow light penetration. Flight will be constructed in two phases, with Phase I anticipated to begin in early 2017 and finish within 14 to 18 months. Phase I will include more than 470,000 square feet of office space, a mess hall and conference center.

November 17, 2016

California Multifamily Western

Century West Partners Completes Chelsea Luxury Apartments in Santa Monica

by Nellie Day November 17, 2016

SANTA MONICA, CALIF. — Century West Partners has completed construction of the 56-unit Chelsea luxury apartment building in Santa Monica. The community is located at 1320 2nd St. in the downtown area. Chelsea’s units are set within a four-story building atop two restaurants, occupying 3,150 square feet and 2,850 square feet, respectively.

November 17, 2016

Multifamily Texas

Midway Cos. Opens 249-Unit 100 Park in College Station

by Amy Works November 17, 2016

COLLEGE STATION, TEXAS — Midway Cos. has opened 100 Park, a 21-and-older luxury apartment community located within Century Square, a mixed-use property in College Station. Situated steps from the campus of Texas A&M University, the property is a residential option for professors, faculty and area professionals. The four-story property features 249 units in a mix of studio, one- and two-bedroom floorplans. On-site amenities include a fitness facility, social lounge and business center with complimentary coffee and Wi-Fi, community pool with outdoor dining and grills and a pet-friendly common green gathering area. Project partners include Mayfield and Ragni Studio, aka MaRS, and STG Design. Century Square is a 200,000-square-foot public-private collaboration between Midway and Texas A&M University.

November 17, 2016

Loans Multifamily Northeast Pennsylvania Seniors Housing

TD Bank Invests $20.6M in Historic School Conversion in Philadelphia

by Amy Works November 17, 2016

PHILADELPHIA — TD Bank has invested a total of $20.6 million to convert the long-vacant Spring Garden School in Philadelphia into a 49-unit affordable community for seniors and homeless veterans. The investment includes $11.6 million in tax credit equity and a $9 million construction loan. When completed, the conversion will offer 37 units for low-income seniors and 12 units for homeless veterans. Spring Garden School was built in 1927 and added to the National Register of Historic Places in 1986. The property has been vacant for nearly 40 years. The project will include restoring the interior and exteriors of the building, while intentionally preserving some of the graffiti. HELP USA, a national homeless service provider and low-income housing developer, is developing the project.

November 17, 2016

District of Columbia Mixed-Use Southeast Top Stories

National Law Firm, New Hilton Hotel to Anchor $2B Wharf Waterfront Development in D.C.

by John Nelson November 17, 2016

WASHINGTON, D.C. — Hoffman-Madison Waterfront (HMW), the developer of The Wharf, a $2 billion, mile-long neighborhood under construction along Washington, D.C.’s Southwest waterfront, has announced that the development will feature a new Hilton hotel and a new anchor office tenant, global law firm Fish & Richardson. HMW is a partnership between master developers PN Hoffman and Madison Marquette. Situated adjacent to 7th Street Park, Hilton Worldwide will open a 175-room Canopy by Hilton, the first North American hotel for the international brand. The Canopy will join a 238-room Hyatt House at The Wharf. When complete, The Wharf will feature more than 3 million square feet of new residential, office, hotel, retail, marina, and public uses, including waterfront parks, promenades, piers and docks. The development will encompass 24 acres of land and 50 acres of water on the Washington Channel. Phase I is slated to open in October 2017, and Phase II is expected to open between 2020 and 2021. “The Wharf is a truly ideal neighborhood for our Canopy by Hilton brand and we are thrilled to be a part of this amazing project,” says Gary Steffen, global head of Canopy by Hilton. Fish & Richardson, which specializes in global …

November 17, 2016

California Industrial Western

Trammell Crow, Principal Real Estate Complete Construction of Spec Industrial Building in San Jose

by Nellie Day November 16, 2016

SAN JOSE, CALIF. — A partnership between Trammell Crow Company and Principal Real Estate Investors has completed construction of MidPoint@237, a 563,000-square-foot manufacturing project in San Jose. The three-building project is situated at North 1st Street and Nortech Parkway at the top of Silicon Valley’s Golden Triangle. Rob Shannon and Chip Sutherland of CBRE marketed the Class A project. The architect is ARC TEC Inc. and the general contractor is Lusardi Construction Co.

November 16, 2016

Georgia Hospitality Mixed-Use Southeast

Majestic, Carter to Develop $350M Mixed-Use Project at Hartsfield-Jackson Atlanta International Airport

by John Nelson November 16, 2016

ATLANTA — Master developers Majestic Realty Co. and Carter have announced plans for a $350 million mixed-use project at Hartsfield-Jackson Atlanta International Airport. Phase I of the project will include an 11-story, 440-room hotel that features a restaurant in the lobby, 80,000 square feet of conference/meeting space, a skybar on the 10th floor that overlooks the airport’s runway, 750 parking spaces and an additional 60,000 square feet of Class A office space. Visitors and hotel guests will have direct access to MARTA and the airport’s SkyTrain service. Majestic Realty and Carter are currently in discussions with InterContinental Hotels Group to serve as the operator of the four-star facility, which will be situated directly west of the domestic terminal. The hotel will be connected to the domestic terminal via a new plaza. Phase II of the project will feature two additional hotels built on 13 acres just west of Phase I. The design stage is expected to begin in 2017 with construction slated to start by early 2018. In 2015, Majestic Realty and Carter signed a 50-year lease for the 26.5-acre site with the city of Atlanta. The master development is part of the airport’s $6 billion ATLNext Initiative.

November 16, 2016

Georgia Office Southeast

Skanska USA Tops Out Class A Office Building in Atlanta’s Cumberland/Galleria Submarket

by John Nelson November 16, 2016

ATLANTA — Skanska USA has topped out the vertical construction of 3400 Overton, a 175,000-square-foot, Class A office building in Atlanta’s Cumberland/Galleria office submarket. Skanska USA is constructing the property on behalf of the developers, TPA Group and USAA Real Estate Co. Situated at the corner of Akers Mill Road and Cumberland Boulevard, the seven-story building will overlook SunTrust Park and the Battery Atlanta, which are both set to open in April 2017. Heery International Design designed 3400 Overton to feature open floor plates and floor-to-ceiling glass. Skanska USA is on track to deliver the office building in June 2017.

November 16, 2016

Multifamily New York Northeast

Forest City Ratner Cos. Opens 32-Story Residential Tower in Brooklyn

by Amy Works November 16, 2016

NEW YORK CITY — Forest City Ratner Cos. has opened 461 Dean, the world’s tallest modular tower and only modular residential high rise. Located at Greenland Forest City Partners’ Pacific Park Brooklyn, the 32-story high-rise tower features 363 rental apartments. Designed by SHoP Architects, the tower features 149 studios, 166 one-bedroom apartments and 48 two-bedroom apartments, with 23 original unit configurations. Unit prices for studios start at $2,450, one bedrooms start at $3,125 and two bedrooms start at $4,750. On-site amenities include a 24-hour doorman, modern fitness center, yoga and dance studio, sky lounge and rooftop terrace, game room, and children’s playroom as well as in-unit washers/dryers. The property, which is slated for LEED Silver certification, is the first residential building to open at the 22-acre Pacific Park Brooklyn mixed-use community. Pacific Park Brooklyn is being developed by a joint venture between Greenland USA and Forest City Ratner Cos., which is a wholly owned subsidiary of Forest City Realty Trust.

November 16, 2016

California Hospitality Retail Western

Mount Palomar Winery to Build Resort, Events Venue in Temecula

by Nellie Day November 15, 2016

TEMECULA, CALIF. — The Mount Palomar Winery has received county approval to develop a resort and event venue in Temecula. The resort will include 180 guest rooms ranging from hotel rooms to cottages and villas. It will also feature a 1,800-seat amphitheater, restaurant, retail space and spa, in addition to a 17,000-square-foot tasting room. Mount Palomar will also add more vineyards and a production facility capable of producing 60,000 cases of wine per year.

November 15, 2016

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