development1

Wagman Construction Completes $50M Independent Living Expansion in Maryland

by John Nelson September 22, 2016

FREDERICK, MD. — Wagman Construction has completed construction of The Lodge at Willow Ponds, a new independent living expansion on the Willow Ponds continuing care retirement community (CCRC) campus in Frederick, approximately 50 miles west of Baltimore. Homewood Retirement Centers of the United Church of Christ owns the CCRC, which is located on over 100 acres. The $50 million expansion project added a four-story, 277,000-square-foot building totaling 150 apartments and patio homes. An additional 50 units may be added in the future. Noelker and Hull served as lead architect and designer on the project. Wagman is a construction firm with offices in Pennsylvania and Virginia. Homewood is a faith-based operator with communities throughout Pennsylvania and Maryland.

September 22, 2016

Hospitality North Carolina Southeast

MJM Group to Build $45M Dual-Branded Marriott Hotel in Charlotte

by John Nelson September 22, 2016

CHARLOTTE, N.C. — Raleigh-based MJM Group plans to develop a new $45 million, dual-branded Marriott hotel project in Charlotte. Located at 9110 Harris Corners Parkway, the seven-story property will feature a 94-room Courtyard by Marriott and a 94-room Marriott Residence Inn. Construction is slated to begin this month and wrap up by March 2018. The 130,000-square-foot property will feature a shared lobby, bistro, two patio areas, outdoor swimming pool, exercise room and meeting rooms. The project team includes architect The Lawrence Group, interior designer Gray Design and general contractor Whiting-Turner Contracting Co. Paramount Lodging Advisors advised MJM Group in the development, and Live Oak Bank provided construction financing. Midas Hospitality will manage the hotel upon completion.

September 22, 2016

Florida Mixed-Use Southeast

Terra Closes on $15.9M Land Acquisition for Pines City Center Mixed-Use Project in Broward County

by John Nelson September 22, 2016

PEMBROKE PINES, FLA. — Terra has closed on its $15.9 million purchase of 17.2 acres of land in Pembroke Pines for Phase I of the 47-acre Pines City Center. Upon completion in 2017, the project will comprise 300,000 square feet of retail, entertainment and restaurant space, as well as apartment residences. The project will be built in two phases, with Phase I featuring 200,000 square feet of Publix-anchored retail space and Phase II featuring 100,000 square feet of commercial space and 385 apartments. Pines City Center will be situated at the southwest corner of Pines Boulevard and Palm Avenue, adjacent to a $60 million civic center the city of Pembroke Pines is building.

September 22, 2016

Florida Seniors Housing Southeast

Watercrest Opens 90-Unit Assisted Living Community in Jacksonville

by John Nelson September 21, 2016

JACKSONVILLE, FLA. — Watercrest Senior Living has opened Watercrest of San Jose, a 90-unit assisted living and memory care community in Jacksonville. The 79,000-square-foot, resort-style property offers 66 units of assisted living and 24 memory care apartments. Situated on the banks of Goodby’s Creek, the property features a signature spa (Spa W), wine bistro and multiple dining venues. Watercrest of San Jose will be co-owned by Starling Senior Living.

September 21, 2016

Multifamily New York Northeast

Developers Plan Dual 30-Story Multifamily Towers in SoHo

by Jeff Shaw September 21, 2016

NEW YORK CITY — Development partners Bizzi & Partners Development, Aronov Development and Halpern Real Estate Ventures have begun accepting pre-sales for 565 Broome SoHo, a 290-foot, 115-unit, dual-tower multifamily building under development in New York’s SoHo neighborhood. The project marks the first New York City residential project for the Pritzker Prize-winning architect Renzo Piano. Douglas Elliman Development Marketing is overseeing the marketing and sales. Parisian firm RDAI is designing the interiors. 565 Broome SoHo’s two-tower design will offer 360-degree views of the Hudson River, historic SoHo, midtown Manhattan, Tribeca and the World Trade Center. Amenities at the property include a saltwater pool and private driveway entrance.

September 21, 2016

California Retail Western

Dunkin’ Donuts Opens 12,000th Restaurant in Riverside

by Nellie Day September 20, 2016

RIVERSIDE, CALIF. — Dunkin’ Donuts has opened its 12,000th restaurant worldwide with its new location in Riverside. The new restaurant is part of the company’s westward expansion, opening more than 30 new restaurants in California with plans for about 300 new locations to be developed in the state over the coming years. Franchisee Parag Patel owns and operates the location. Patel opened two other Southern California Dunkin’ Donuts this summer in Villa Park and Yorba Linda. He plans to open approximately 20 new Riverside and Orange County locations in the coming years. Founded in 1950, Dunkin’ Donuts has more than 11,900 restaurants in 44 countries worldwide. Based in Canton, Mass., Dunkin’ Donuts is part of the Dunkin’ Brands Group Inc. family of companies.

September 20, 2016

rh-austin-the-gallery-at-the-domain-texas

Office Texas

Restoration Hardware Unveils RH Austin, The Gallery at The Domain in Austin

by Haisten Willis September 20, 2016

AUSTIN, TEXAS — Restoration Hardware Holdings Inc. (RH) has opened RH Austin, The Gallery at The Domain at 11720 Domain Blvd. in Austin. The design gallery spans four stories and over 60,000 square feet. The property features installations of home furnishings in a gallery setting, including a floor dedicated to RH Modern with an integrated RH contemporary art gallery. RH Austin also includes an interactive design atelier, which is a workspace that allows customers, designers and architects to conceptualize and customize a home. Architect James Gillam of Backen, Gillam & Kroeger designed the property.

September 20, 2016

Florida Industrial Southeast

Meridian Breaks Ground on 237,000 SF Industrial Facility in South Florida

by John Nelson September 20, 2016

HOMESTEAD, FLA. — Meridian Design Build has begun construction on a 237,000-square-foot package sortation and distribution center in South Florida. The property will be located on a 40.5-acre lot at the intersection of S.W. 127th Avenue and S.W. 272nd Street in Homestead. The project will be developed by SunCap Property Group as a build-to-suit for an unnamed provider of global shipping and information services. The property will feature 63 loading docks, seven drive-in doors, a freestanding gateway building, 180 interior van loading positions, 431 parking spaces, a 125-stall trailer storage yard and 8,270 square feet of office space. The design team includes architect Ware Malcomb and civil engineer Langan.

September 20, 2016

Affordable Housing District of Columbia Loans Multifamily Southeast

D.C. Housing Finance Agency Provides $21.6M Financing for Affordable Housing Community

by John Nelson September 20, 2016

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided $21.6 million in bonds for the acquisition and construction for The Beacon Center, an affordable housing complex in Washington, D.C. The project is a redevelopment of the historic Emory United Methodist church now standing at 6100 Georgia Ave. N.W. in D.C.’s Brightwood neighborhood. The financing comprises $14.3 million in short-term bonds and $7.3 million long-term. The $42.5 million development will include sanctuary space for Emory United Methodist and 99 units of affordable housing reserved for renters earning 60 percent or less of the area median income (AMI). In addition to the DCHFA issued bonds, The Beacon Center will be financed by a combination of $16 million of equity raised through the syndication of low income housing tax credits (LIHTCs) by Red Stone Equity Partners, a $17.2 million loan from the D.C. Department of Housing and Community Development’s Housing Production Trust Fund and $900,000 of Neighborhood Investment Funds administered by the Office of the Deputy Mayor for Planning and Economic Development. The District’s Local Rent Supplement Program will be used to provide rental assistance for eight permanent supportive housing units within The Beacon Center reserved for formerly homeless …

September 20, 2016

Arizona Multifamily Seniors Housing Western

Western States Lodging, Colmena Group to Build $30M Assisted Living Community in Scottsdale

by Nellie Day September 19, 2016

SCOTTSDALE, ARIZ. — Western States Lodging & Management and Colmena Group have announced plans for Legacy Village at Sale River, a 230-unit assisted living and memory care community within the Pima Center business park in the Phoenix suburb of Scottsdale. Development costs are estimated at $30 million. Construction on the multi-building project is expected to begin in early 2017, for opening in 2018. When completed, Legacy Village will feature a three-story building with 130 assisted living units and a two-story building with 70 assisted living units and 30 memory care units. Beecher Walker Architects designed the community. Pima Center is a 232-acre mixed-use development within the Salt River Indian Reservation. Mainspring Capital is developing the business park, which includes more than 1 million square feet of office space and 430,000 square feet of industrial/flex facilities. Western States is a developer of hotels and seniors housing communities, including the Legacy brand. Colmena is a development and investment group with a portfolio of nearly 11,000 housing units. Both companies are based in Salt Lake City.

September 19, 2016

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